“Just a bone,” she said. “All I need is one bone for me to put his memory at peace.” On the International Day of the Disappeared, at an event organized by the International Committee of the Red Cross (ICRC), a woman from the crowd took the floor and reminded us again why, year after year,…
Peace for those left behind
Paula Yacoubian talks development
Six months into her role as a member of Parliament, Paula Yacoubian has been busy doing what she can in a difficult situation, given that a new government has not yet been formed. While admitting that she alone cannot resolve the major issues facing Lebanon today—such as water shortages and power cuts—Yacoubian details how she…
Pegged urbanization and the (in)stability of Lebanese capitalism
Ten years ago, the massive failure of subprime mortgage holders and lenders in the United States dealt a devastating blow to the world economy. The worst international financial, economic, and social crisis since the Great Depression had its origin in one of the most potent features of the financial turn of capitalism: the ever-intensifying finance-property…
Property management of short-term rentals in Lebanon
Anyone who has rented a room on Airbnb knows the process is simple—you can get a great deal on a cool rental in a city you’re visiting with just a few clicks. Users may think the process on the other end is just as straightforward: someone has an empty apartment or room, they list it…
Outsourcing business maintenance
It is all fun and games until one tenant in the building goes rogue and decides not to pay allotted monthly fees, another wants to butt heads over details, and a third does not show anyone their purchase receipts. Chances are you have been there, or heard the horror stories. In Lebanon, many problems among…
The scramble to sell as Lebanese real estate nears crisis point
Times are very tough for Lebanon’s real estate sector. After years of poor demand in the upper and middle segments of the housing property market, demand for entry level units plunged in 2018 with the news that subsidized home loans were no longer available (although Parliament did legislate a one-year $66 million fix to subsidize…
BDL decision upends plans of prospective first-time homeowners
Just when you thought you could not disappoint teta any further, news that your home loan has been put on ice will surely do the trick. For the first time in nearly two decades, Lebanese citizens can no longer rely on the public sector for support in buying a starter home. For older generations especially,…
Lebanon in need of a housing policy
There is a perception among Lebanese that the state is unresponsive to the needs of the public—it’s easy to understand why people might think that. For much of their thrice-extended mandate, from 2009 until May’s parliamentary elections, lawmakers neglected to legislate, the presidency was vacant for two and a half years, and laws that were…
Survival of the fittest for Lebanese real estate developers
Coming into 2018, Lebanon’s real estate market was already sputtering. For several years, real estate developers have complained of worrying market conditions—always hoping that the next year will be better, that the political situation in Lebanon will change, and that buyers will come clamoring back. The first wave of concerns was voiced by developers of…
Going it alone
The conventional wisdom of the Lebanese real estate market, and I’m sure the readers of this magazine have heard it a million times, is: “The value of real estate never goes down.” Making it the undisputed bulletproof investment or saving tool that we have adopted through generations. Our real estate industry is accustomed to riding…
ABC talks coping mechanisms in a difficult retail environment
ABC Verdun has been in operation for a year now. Although it was a year marked by the continually challenging economic situation in Lebanon, Frank Kuntermann, chief executive officer of ABC Group, feels there are several milestones to celebrate, all things considered. In this interview, Kuntermann discusses ABC Verdun’s performance since its opening in late…
Lebanon’s squeezed nonprofits’ hunt for funding
The ability to attract donations and sponsors is a vital factor in an organization’s survival and is generally regarded as a full-time commitment in the nonprofit sector. Lebanese nonprofit organizations (NPOs) succeed in this endeavor only when they understand their audience and can engage them creatively—despite the many challenges. The NPO management that Executive spoke…
The fate of Syrian refugees in Lebanon
Recent news reports have surfaced on a possible United States-Russia deal to arrange for the return of refugees to Syria—reports that coincided both with the announcement that thousands of Syrians have died in regime prisons, and with one of the worst massacres in the conflict, perpetrated by ISIS in the city of Swaida. The US-Russia…
Financial literacy initiatives for everyday
When it comes to maximizing money, the rich have access to many more resources than anyone else, not to mention the disposable cash to play with in the first place. That doesn’t mean that they are financially literate by birth but they usually grow up in a very favorable family environment for acquiring financial literacy,…
National poverty targeting and employment programs
The conquest of poverty is a core target of the World Bank. Even as it often is viewed—or maligned—as an instrument of capitalism and capitalist interests, the World Bank’s focus on poverty alleviation and on achieving the United Nations’ sustainable development goals means that the multilateral institution has a strong role to play wherever countries…