The number of construction permits issued up until November 2012 diminished by 1.25% year-on-years to 16,681, data from the Order of Engineers in Beirut and the North showed this week.
Construction area authorized by permits fell at a much faster annual rate of 11.5% to 13.07 million square meters (sqm), as a result of greater demand for smaller apartment units throughout
Average area authorized for construction in the first 11 months of 2012 was thus 783 sqm per permit, compared to 874 sqm per permit for the same period last year. In November alone, the number of issued permits increased by 13.8% y-o-y to 1,418 and area authorized by permits expanded 5.80% y-o-y to 1.094 million sqm.
Average area authorized per permit was thus 772 sqm in November 2012, down from 830 sqm a year earlier but greater than 684 sqm from the previous month. Mount Lebanon accounted for 628 or 52% of permits issued in November and 57% of authorized area. South Lebanon followed with 191 issued permits or 15.7% of the total, while Nabatiye trailed with 162 permits.
Average area authorized for construction in Beirut was 762 sqm per permit, substantially smaller than the 1,000 sqm per permit authorized in November 2011.