According to the data from the Orders of Engineers in Beirut and Tripoli, the total construction permits witnessed a year-on-year (YOY) significant jump of 219.15% to reach 1,583 permits for the second month of 2022. Notably, the Construction Area Authorized by Permits (CAP) soared by an annual 258.19% to 816,784 square meters (sqm), mainly reflecting both the high interest of investors towards real tangible assets, and also the adjustment trend of the sector from a low level during last year’s lockdown.
Compared to the same period last year, construction activity witnessed a prominent increase regionally. Across the governorates, Mount Lebanon, grasped 38.79% of the total permits, and accounted for 611 permits compared to 112 by February 2021. However, for the South, it constituted 33.21% of the total permits, its respective number of permits reached 523 permits compared to only 100 permits same period last year. In Nabatieh which holds 18.86% of the total permits, its share accounted for 297 by February 2022. While Beirut accounted only for 30 permits by February 2022.
No doubt that the real estate sector Lebanon is suffering like other sector due to the economic crisis in Lebanon. While we are witnessing an increase in the movement of real estate compared to last year, however, the numbers are still low, relative to the pre-crisis years.
Number of Construction Permits by February
