Beirut 30th most expensive retail rental city - report

Lebanon’s capital, Beirut, is the 30th most expensive retail rental city in the world, compared with its rank of 33 last year and 43 in 2008, according to property consultants Cushman and Wakefield.

The city is the most expensive of 10 Arab countries, and among the most expensive 12 countries in the Middle East and Africa region, according to the survey posted on the property company’s website.

The report evaluates retail rent prices of 269 streets in 59 countries.

Beirut retail rental prices were ahead of Stockholm, Helsinki, Luxembourg, Taipei, Tel Aviv and behind Brussels, Oslo, Prague, Kuala Lumpur and Istanbul.

The most expensive rental retail location in Beirut was the Beirut Central District at 1,470 euros ($1981) per square meter in 2010, lower than the global average of 1,808 euros per square meter and higher than the Middle East and Africa average of 779 euros per square meter.

Beirut is followed by Tel Aviv, Kuwait City, Damascus, Dubai and Manama among the top ten retail rental locations in the Middle East and Africa. (Bloomberg)