Lebanese construction sector slows down 10%

Figures show a drop in total permits issued for the second consecutive year

According to the latest figures released by the Order of Engineers in Beirut and Tripoli, the Lebanese construction sector has seen a slowdown in activity during the first four months of 2012, as the drop of total permits revealed for the second consecutive year.

The area of newly issued construction permits reached 4,716,030m2 in the first four months of 2012, down by 10.5% compared with the same period a year ago.

During the first four months of 2012, most of the demand for construction permits originated mainly from Mount Lebanon, capturing a 53.4% share of total permits.

The fall was attributed to the wait-and-see mood impeding investors from initiating new projects, fuelled by fears that violence may spill over from neighbouring Syria.

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