Dagher, who left the United States (US) some 10 years ago to launch a real estate development company in Beirut, is like many of his peers, who are suffering from a slowdown in sales over the past two years. However, he has not lost hope. Despite the sluggish overall economic activity, Dagher states that the Lebanese real estate market is poised for a rebound once the political and security situation improves.
He draws parallels between the past two years, which witnessed a spillover of the Syrian crisis into Lebanon, and the 2005–2006 period, when the assassination of former Prime Minister Rafiq Hariri and the subsequent Israeli war on Lebanon rattled markets. Much like the manner in which the markets rebounded in 2007, activity in the real estate sector should pick up once the Syrian conflict settles down, Dagher says.