Research Project: Lebanese Diasporic Village Communities and their Practices of Reproduction and Community Development

Inauguration of the Lebanese-Canadian House in Batroun in the presence of the three initiators from Halifax, hosted by the Minister of Foreign Affairs and Emigration Gebran Bassil within the agenda of the Lebanese Diaspora Energy Conference 2017 © Marie Karner 2017

In May 2017, the Lebanese-Canadian House was officially inaugurated as part of the Lebanese Diaspora village in the historic centre of Batroun, a coastal city in North Lebanon. Three successful businesspersons who live in the Canadian City of Halifax (Nova Scotia) secured funding for the renovation works and curated the exhibition inside the house. The initiators are also highly engaged in Halifax’s Lebanese community in roles such as the “Lebanese Honorary Consul for the Maritimes” or the “President of the Lebanese Chamber of Commerce”. The honorary consul is one of the well-known property developers with roots in the Lebanese village of Diman. While the first immigrants earned their income as peddlers, today’s so-called “Diman developers” are highly involved in the emergence of Halifax’s skyline thanks to their large investments and influence in planning decisions. Continue reading

Research Project: The Financialisation of Home in the Middle East // A study of Lebanon’s mortgage markets: Tracing regulatory changes

The Lebanese real estate and banking boom as visible in newly finished projects in the Corniche an-Nahr area, Beirut © Marieke Krijnen

This project by OIB postdoctoral fellow Marieke Krijnen focuses on the increasing interconnections between real estate and finance in Lebanon. Real estate has always been dependent on the financial sector for loans, but the financial sector itself has become increasingly involved in real estate development, with its own subsidiaries and active investments. The financialisation of real estate is part of a larger movement towards the financialisation of the economy, which began during the 1980s when the capitalist system increasingly created money out of money in order to grow in the face of stagnation and inflation. Academic interest in the interconnections between real estate and finance increased massively following the global financial crisis in 2008, which was caused, in part, by the volatility that secondary mortgage markets had created. Continue reading