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Karantina – Investors’ Playground

The area of Karantina may no longer be the official quarantine of the Port of Beirut, but it is still stigmatized by its former reputation. Over the past few decades, several new addenda to the area have further deteriorated its image. Karantina is still closely associated with the refugee camp and “Arab el Maslakh” slums. It is also home to a number of polluting industries – the slaughterhouse, the Sukleen main dumpsite, and recycling plant. Karantina has an army barracks, a fire department, and several industrial sites – mainly large steel warehouses. The area, however, has several advantages playing in its favor. It is one of the largest potential land banks in Beirut. It is also a flat strip of land, very easy to re-allot and develop, and centrally located, immediately South of the main basin of the Port of Beirut, with very easy access from one of Beirut’s main traffic arteries. For all these reasons, Karantina is currently the preferred playground of heavyweight real estate investors, who juggle property portfolios with purely speculative motives. The price of buildable BUA currently varies between USD 500-1,400, depending on plots’ location.

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Largest Stock of Land

Where are Beirut’s largest land banks located?

It is becoming more and more difficult to find vacant land in the most popular neighborhoods of Beirut. However, some areas still represent important land banks that have tremendous future development potential. While the potential of some areas, such as BCD’s new Waterfront District, is well known and has the asking prices to prove it, others are less obvious or are still testing grounds that have not realized their full potential.

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