The number of construction permits contracted by a yearly 2.24% to stand at 8,510 permits by June 2017, according to the Order of Engineers in Beirut and in Tripoli. In its turn, the Construction Area Authorized by Permits (CAP) fell by 16.65% year-on-year (y-o-y) to 5.23M square meters (sqm), which reflects the combined effect of a smaller number of permits granted for projects over the period, but also investors’ preferences for smaller construction areas for undertaken plans.
In a regional breakdown, Mount Lebanon grasped the largest stake of total permits amounting to 3,020 (35.49% of total permits), down by an annual 6.36%. Meanwhile, the South of Lebanon seized 17.11% of total permits with 1,456 permits, lower by an annual 9%. Lastly, Nabatieh seized 12.69% of total permits with 1,080 permits, losing 9.77% compared to H1 2016. Nonetheless, Beirut (grasping 4.38% of total permits) was a regional gainer, witnessing an annual rise of 7.49% to 373 total permits issued.
Number of Construction Permits in H1
Source: Orders of Engineers in Beirut & Tripoli