How do you foresee the outlook for commercial real estate in Lebanon in the year 2023? Who better to ask than George Geha – team leader at JSK Real Estate with a proven track record in closing major commercial deals over the last 12 years in Lebanon.
Commercial real estate include among others:
-offices for sale and rent
-shops & showrooms for sale and rent
-warehouses for sale and rent
As per Geha, we are witnessing an increased demand of offices for sale and offices for rent in many areas in Lebanon such as Achrafieh, Sin El Fil and other areas; but the main increase of demand on commercial real estate is in Metn area namely in Dbayeh, Jal Dib and around. Corona and the latest economic crisis have severely hurt the commercial real estate sector in Lebanon as of 2019. But we may be starting to see the light at the end of the tunnel as we are sensing that businesses have hopes for 2023 and requests for offices and showrooms for sale or rent are improving day after day.
And to quote Geha, “I am receiving daily an increased number of calls requesting to buy or rent an office in Metn. And of course, JSK Real Estate is the leader real estate agency handling all major showroom and shop located on highway from Dora till Jbeil including showrooms in Dbayeh for sale or rent. You will witness soon many locations on Dbayeh highway that were vacant for many years and will be filled with new tenants and businesses in the near future. In the first 2 weeks of 2023, we have already closed 2 big rent deals for offices in Achrafieh and Dbayeh and one sale deal for office in Dbayeh. Add to that, we are about to close on another 2 large deals of showrooms for rent on Dabyeh Highway. I sense a very promising year for commercial real estate in Lebanon in 2023”.
