Lebanon – January construction drops 14 percent year-on-year

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Construction activity declined during the first month of 2013 as the number of permits in Lebanon decreased by 14 percent to 1,132, compared to 1,317 transactions authorized in January of 2012.

In addition, the construction area authorized by permits contracted by 21 percent year-on-year to 747,867 square meters, 195,907 sqm less than in January 2012, as developers move toward smaller projects.

The average area authorized for construction during January 2013 was 661 sqm per permit, compared to 717 sqm per permit for the same period last year.

 

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