Argent is only the latest in a string of investors and donors looking to help rebuild Lebanon after the recent bombings. But the impact of the campaign on the country's real estate market is still unknown. Total estimated damage is between $9 billion and $16 billion to an economy valued at $22 billion by the World Bank. The economy had been expected to grow by 6% this year, but now is expected to shrink by that much.Donors from the Gulf, Europe and North America committed $940 million at a conference in Sweden last week. Qatar gave $300 million, the USA offered $230 million and the European Union $54 million. Prior to the conference Saudi Arabia had already offered $500 million and Kuwait $300 million in addition to the $1.5 billion deposited in Lebanon's central bank to stabilize the economy.

Companies in Kuwait and the United Arab Emirates have invested nearly $2 billion in real estate development. Several huge projects were announced or started before the war. These include a $150-million tower being developed by Dubai-based DAMAC; the $600-million Beirut Gate development by Abu Dhabi Investment House and the $1.1 billion Phoenician Village overseen by a Kuwaiti-led holding company, al-Dhow. Also planned are three residential projects by Dubai Islamic Bank's Deyar Development, including four high-rise towers in Beirut valued at $65 million.