“I don’t see this as a bubble”

Mounir Douaidy, boss of Solidere:

“Prices have gone up recently a little bit more than what people would have expected them to do […] I don’t see this as a bubble. I view this as a normal progression of prices because there is demand for property in Lebanon and property is scarce.”

But of course he’ll say that. He has a direct stake in keeping property prices up. I’m skeptical and I think the jury is still out on this one.