Long-lasting investments
The crisis is also giving rise to derivative categories, starting with a new term coined by retired banker and financial analyst Dan Azzi: ‘Lollar,’ “a US dollar stuck in the Lebanese banking system, really just a computer entry with no corresponding currency.” To ‘release their Lollars’ is now a commonly used expression for the Lebanese population looking for ways to access their own money blocked by banks.
One of these ways is real estate – an economic sector that was in free fall and suddenly became an interesting option. From one day to the next, real estate companies started posting heavily online and even ventured a little outdoors, notably developer Waterfront City launching a major campaign around “The Only Real Asset Today is Real Estate.”
