The Hayek Group Newsletters and Reports

Lebanon … Land of Wonders - Dec. 2007

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Lebanon has always been an excellent holiday destination despite all political turmoil; December 2007 was absolute evidence, Adha and Christmas seasons have added to the holiday a taste of Holiness in the most convenient weather conditions.

Streets were crowded with traffic, shopping centers were overloaded, and Airport lounges were full of expatriates and visitors. Many of them had no alternative but to fly to Damascus and drive home to Beirut. Chartered flights from Gulf countries, Paris, London and other major cities were not enough to bring home our expats and visitors.

Restaurants in Gemmayzeh, ABC & Geant-Dora had a waiting list not less than 45 minutes for the first available seat. People had to wait in long lines at the cashiers in most shopping malls (Spinneys, BHV & others). One of the managers has reported that sales have exceeded expectations, reaching record figures.

Demand for purchase of plots in Beirut and Mount Lebanon have also exceeded expectations accompanied by higher prices. Apartments have been sold in the same area in record time, despite the higher cost of construction.

A country without a President for more than a month, a Government paralyzed by political Byzantine arguments, a closed Parliament; for more than a year, yet Lebanon is enjoying such a fantastic December holidays. This phenomenal situation will help Investors & Consulting firms to have a more optimistic forecast for the future of this vital country.

In our turn, Hayek Group, as true believers in Lebanon, as a dedication for Lebanese expats and friends who are eager to come back and enjoy our way of living, is undertaking an expansion plan in 4 major locations and a large basket of new services using the most up-to-date IT and software packages

From this lovely land we extend our wishes for a Happy New Year To all those who share us our optimism and to many others.

Abdallah Hayek P.E

Hayek Group s.a.r.l.

Beirut – Dec. 2007

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