File - Buildings in the phase of construction are seen in Downtown Beirut. (The Daily Star/Mohammad Azakir)
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Exiting the real estate market in Lebanon with minimum losses is proving to be a very difficult task for Arab Gulf nationals who were aspiring to make a windfall of profits from their investments.The developer stressed that the number of Gulf nationals who sold their properties in Lebanon are not significant, noting that many of them prefer to wait and get a better price.While some developers attributed the decision of Gulf nationals to sell their properties in Lebanon to the political standoff and the row between Saudi Arabia and Hezbollah, others insisted that this trend was mainly due to the raging war in Syria over the past five years.Economist Ghazi Wazni said the news of Gulf nationals exiting the real estate market is highly exaggerated.There is no official record on the number of Gulf nationals who sold their properties over the past two years.
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