The Way Up In 2019
The Way Up In 2019 Should Go Through Structural Reforms
The economic stagflation has been building up gradually since 2012 and its toll has been weighing heavily on the retail sector. Amidst this challenging reality, however, Acres Development Holding has been looking for the proverbial silver lining where it could not only survive the crisis but even lay the foundations for new projects as well.
Regional politics, wars and a seemingly never-ending influx of refugees have played a major role in exacerbating the Lebanese economic challenges between 2012 and 2017. The impact of these factors has been obvious through the slowdown in our economic growth; yet, as of 2017 the regional impact was compounded due to a series of locally manufactured fumbles such as the increase in the salary scale, the delay in government formation, electricity crisis, lack of reforms and further tipping in the trade balance.
Despite all the challenges, Acres Development Holding registered a 17% increase in sales up till 2017; nevertheless, the drop we saw in 2018 was because of the severity of the local factors and we are expecting the situation to persist till 2019 if no reforms are made. The silver lining, however, lies in the expected economic upturn due to both the perceived advancement of the Syrian “solution” by 2021, the materialization of the oil sector’s milestones and, hopefully, structural reforms that will lead to the implementation of CEDRE.
Acres Development Holding has decided to pursue its strategy’s implementation in announcing two new mega projects: LeMall Jbeil in 2020 and Tripoli in 2023. We believe in the positive future and now we have our eyes set on developing new projects in Syria for which we are preparing our team.
Source: Executive magazine