Abstract
A quarter century after the final days of the Lebanese civil war (1975–1990), a property frenzy spurred by billions of petro-dollars channeled into the built environment has reconfigured Beirut's physical and socio-economic fabrics far beyond anything required by post-war reconstruction. To better understand this puzzle—property attractiveness and vitality in an environment as financially and politically unstable as Lebanon's—this paper analyzes the local property market as an institutionally-grounded social construct that pegs urbanization to the stability of the country's rentier and finance-driven capitalism. In doing so, this paper unpacks the financialization of property, the key role of the Lebanese state in growth politics, and the multidimensional character of power in the making of conflict-affected cities.
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