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The construction segment in Lebonon has shown steady growth in Q1 2014, despite unrest in the region, stated the country's infrastructure experts
Beirut hosted the fifth international Future Concrete Conference – organised by Advanced Construction and Technology Services (ACTS), where experts from around the world shared their views on the growing construction sector in Lebanon.
According to reports, Lebanon's building permits and cement deliveries – considered leading indicators of construction activity – increased from January 2014 to March 2014. Construction permits rose by 19 per cent compared to the same time last year, while cement deliveries grew by 7.4 per cent. This was a total of 1.2mn tonnes in from January 2014 to March 2014 as against last year’s 1.1mn tonnes.
Industry professionals gathered at the conference were of the opinion that developments in the construction sector could boost foreign investment as well. Currently, Lebanon is receiving international funding for infrastructure developments, which are required to accommodate refugees from Syria, stated reports.
The United Nation’s Economic and Social Commission (ECOSOC) for Western Asia also noted that Syria's demand for cement would be around 30mn tonnes per year, when reconstruction begins. This could greatly benefit Lebanon's construction sector.
Khaled Awad, chairman of ACTS, said, “The cornerstone of every international Future Concrete conference is the invaluable educational experience for every attendee. We make it a point that our conference presentations, expert discussions, and even sharing best practices amongst peers, take learning to the next level. In such a dynamic industry like building and construction, it is imperative that players have the tools, strategy and knowledge to turn challenges into opportunities."