Construction site in Downtown Beirut, Friday, July 24, 2015. (The Daily Star/Mohammad Azakir)
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to diaspora to revitalize real estate marketSuch unsold luxury properties are now being targeted by the country's first real estate investment fund, which the founders hope will help revive what was once a main driver of the Lebanese economy.Legacy Central, which aims to raise $1 billion in equity and debt in three $325 million stages, says it will invest wholesale in apartments which developers have been struggling to shift for years, selling them on to Lebanon's extensive diaspora.This is where the fund, Legacy One, hopes to have an impact, by tapping into demand among Lebanese diaspora wanting a connection to their homeland, at lower prices and with easy investment.
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