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Shortly after major political breakthroughs materialized by the end of 2016, all eyes turned on the effects of these events on the future performance of the Lebanese real estate market.As one of the core sectors of the Lebanese economy, real estate and construction activities constituted a considerable 20 percent share of Lebanon's nominal gross domestic product in 2013 . Hence, despite the existing slowdown in this market, new trends are emerging and affecting each of the retail and office subdivisions.Similarly, yearly rental prices in Hamra average $250 per square meter and could hit $300 per square meter in Ashrafieh.According to RAMCO, the number of under-construction office buildings reached 34 across municipal Beirut in 2016, compared to 37 office buildings in 2015 .Likewise, Dbayeh will host the $1.8-billion Waterfront City project, which includes residential units, hotels, retail space, in addition to 60,000 square meters of office space.
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