Domotex Middle East Sees Growth in Lebanon

Dubai, UAE, April 1, 2009--Domotex Middle East 2009 is targeting Lebanon as a major market for carpets and floor coverings and a catalyst for the growing regional wholesale market.

Beirut Chamber of Commerce estimates construction there to be worth $10 billion.

Domotex Middle East noted that construction and real estate activities in Lebanon have expanded and achieved record levels in 2008, even continuing to consolidate despite the ongoing economic crisis.

According to figures from the Directorate of Real Estate, total property sales went up by 21.8 percent in 2008 reaching its highest yearly value of 83,655 operations, while property sales to foreigners likewise reached a landmark peak of 1,946 transactions in 2008.

Domotex said this reveals a revitalized interest in property development that has subsequently pushed demand for basic building materials such as carpets and floor coverings.

Angela Schaschen, Managing Director, Deutsche Messe Dubai Branch said:
"Lebanon will clearly play a key role in consolidating the market for carpets and floor coverings, opening opportunities for various regional wholesale markets and pushing demand as a result of the surge in property developments."