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 97.70% to reach 8,650 permits by July 2021. Notably, the Construction Area Authorized by Permits (CAP) soared by an annual 146.18% to 4,253122 square meters (sqm), mainly reflecting the high interest of investors in investing in real tangible assets.
Compared to the same period last year, construction activity witnessed a prominent increase regionally. Across the governorates, Mount Lebanon, grasped 37.26% of the total permits, and accounted for 3,223 permits compared to 1,734 by July 2020. However, for the South, it constituted 29.94% of the total permits, its respective number of permits reached 2,590 permits comparing to 1,178 permits same period last year. In Nabatieh which holds 18.68% of the total permits, its share accounted for 1,616 compared to 716 permits by July 2021. In Bekaa, 797 construction permits were issued by July 2021 up from 378 in the same period last year, while in Beirut only 149 construction permits were issued down from 186 issued last year.
The migration from the city to the suburbs is obvious and may escalate more in the future. Lebanon is suffering from a severe financial crisis since October 2019, while Beirut is not necessary the best place to live in as the benefits of living in the city are shrinking due to the big shortage in electricity and the increase of price of oil, and higher living expenses.
Number of Construction Permits by July