“Regional And International Benchmarks”

Marwan Barakat of Bank Audi on why he doesn’t believe that there’s a property bubble in Beirut:

I don’t believe there’s a bubble in the market. It’s true that prices have risen significantly, but they emanated from a low base so prices today are more in line with regional and international benchmarks

Which is just a fancy way of saying: Beirut is expensive because Dubai and London are expensive. Oh and minus the infrastructure of those cities of course..