In 2001, the Parliament endorsed amendments on the legislation regarding the foreign acquisition of Property in Lebanon to provide incentives foreign investment through reactivating the real estate sector. The law stipulates the following:
- The new Law allows the foreigners to acquire 3% of the total area of Lebanon regardless the geographic location subject to one condition: foreigners can acquire no more than 3% of the total area of a caza. One exception to this law is Beirut, where foreigners are allowed to acquire up to 10% of the total area of the capital.
- Foreigners are now allowed to acquire up to 3,000m² without the need to a decree by the Council of Ministers. The Authorization to acquire a piece of land for a specific project has to be executed within a period of five years (extended once for a similar period). It is allowed to a foreigner to buy more than 3,000m² subject to a Council of Ministers’ decree.