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Construction market in Lebanon receives major boost

Lebanon’s GDP growth should climb to 7 or 8 percent a year by activating tourism, real estate, construction and the banking sector, a study conducted by Fransabank said. The study stressed the significance of increasing public and private investments in Lebanon’s infrastructure, especially the sectors of electricity, telecoms, roads, water and others, in order to stimulate further economic growth. The economy and Lebanon’s construction sector in specific is expected to see a major boost following the CEDRE donor conference which has resulted in $11.8 billion in pledges of financial assistance, out of which $11 billion are in soft loans. There were 51 countries represented at the conference in addition to international donor institutions.

The government requested funding for the first two phases of the Capital Investment Program (CIP) that is divided into three phases, each with a four-year schedule. The CIP includes 250 infrastructure projects worth $17 billion. Around 30 percent of the investments will be earmarked for the transportation sector while water and sewage projects will get another 30 percent. Nearly 20 percent will be allocated to the electricity sector with the remaining 20 percent to be invested in other infrastructure and development projects. The European Bank for Reconstruction and Development also intends to invest at least $200 million in Lebanese equities, renewable energy and water resources in 2019.


The Lebanese real estate market recorded a 14.49% higher number of transactions amounting to 95,856, with a higher total value of transactions, reaching $10.15B, in 2017, compared to $8.53B, in 2016. This led to the average value of a real estate transaction rising from $101,142 to $107,062.


The Construction area Authorized by Permit (CAP) increased by 15.44% to 11.81 million sqm in 2017. Mount Lebanon appeared as the top location for new constructions in 2017 capturing 35.2% of total activity in terms of projects number.

PPP projects available for investment (2018)

Source: IDAL (Investment Development Authority of Lebanon) , IIF

Transport

Beirut Rafic Hariri International Airport expansion
PROJECT TIMELINE

  • Complete the due diligence – December 2018
  • Launch the tendering process – December 2019
  • Contract Award – June 2020
EXPECTED CAPEX
Approx. $500 million

Rene Mouawad Airport rehabilitation and expansion
PROJECT TIMELINE

  • Complete the due diligence – May 2019
  • Launch the bidding process – December 2019
  • Contract Award – December 2020
EXPECTED CAPEX
$100 million

Khaldeh - Nahr Ibrahim Expressway
PROJECT TIMELINE

  • Complete the due diligence – March 2019
  • Launch the tendering process – March 2020
  • Contract Award – September 2020
EXPECTED CAPEX
  • Implementation Cost: $1600 million
  • Expropriation Cost: $1260 million

New Touristic Port in Jounieh
PROJECT TIMELINE

  • Complete the due diligence – March 2019
  • Launch the tendering process – March 2020
  • Contract Award – March 2021
EXPECTED CAPEX
$62 million

New Port in Saida
PROJECT TIMELINE

  • Complete the due diligence – March 2019
  • Launch the tendering process – March 2020
  • Contract Award – March 2021
EXPECTED CAPEX
$65 million

Wastewater

El Bared Dam
PROJECT TIMELINE

  • Tender documents available to EPC construction
  • EIA is required
  • Expected construction period of 5 years
EXPECTED COST
$300 million

Ain Dara – Azounieh Dam
PROJECT TIMELINE

  • Tender documents available for EPC construction
  • Scoping for EIA was submitted to the Ministry of Environment in November 2017
  • Expected construction period of 4 years
EXPECTED COST
$115 million

Qortada - Sfaileh - Deir Khouna - Hlaliyeh Wastewater Project
PROJECT TIMELINE

  • Feasibility study completed
  • Currently identifying plots of land requiring expropriation (surface of 136,000m2)
  • Expected construction period of 2 years
EXPECTED COST (USD)
$194 million

Zone-Development

Tripoli Special Economic Zone
PROJECT TIMELINE

  • Feasibility study completed
  • Master plan including SEA and a detailed design will be ready in June 2018
  • Infrastructure works for the first phase in 2019
  • Expected construction period of 1 - 2 years and expected O&M period of 30 years
EXPECTED COST
$270 million

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