According to the data from the Orders of Engineers in Beirut and Tripoli, the total construction permits witnessed a year-on-year (YOY) remarkable increase of 177.68% to reach 4,218 permits by April 2021. Notably, the Construction Area Authorized by Permits (CAP) soared by an annual 352.99% to 2,424,013 square meters (sqm), mainly reflecting the high interest of investors in undertaking new projects.
Compared to the same period last year, construction activity witnessed a prominent increase regionally. Across the governorates, South, grasped 33.43% of the total permits, and accounted for 1,410 permits compared to 355 by April 2020. However, for the Mount Lebanon, it constituted 32.81% of the total permits, its respective number of permits reached 1,384 permits comparing to 644 permits same period last year. In Nabatieh, 19.35% of the total permits, permits accounted for 816 compared to 211 permits by April 2020. In Bekaa 393 construction permits were issued by April 2021 up from 121 in the same period last year, while in Beirut only 60 construction permits were issued down from 83 issued last year.
The data reveals the market trend towards new development projects. In fact, Beirut is still the only Governorate with a decrease in its construction permits. Overall, the remarkable increase is a result of last year sharp decrease in numbers during the strict lockdown, in addition to the ongoing desire of the Lebanese people to withdraw their deposits locked in commercial banks and hedge in buildings and houses outside the Capital Beirut.
Number of Construction Permits by March
Source: Orders of Engineers in Beirut & Tripoli