The 11 major construction projects in the pipeline for BeirutCentral District (BCD) are on hold and an advisor to a regionaldeveloper with projects throughout the region says his investorswere deeply concerned but he adds that he has no plans to abandonthe projects.

The impact of Israel's military campaign on the country'scredibility with foreign investors, especially from the Gulf,remains to be seen. Figures released earlier this year by theLebanese government showed the Gulf investment was a major factorin a 88% increase in the value of property transactions in Beirutsince 2001. Foreign direct investment accounted for 10% of GDP in2005.

But the future of these investments will depend on how long theIsraeli bombing campaign continues and how long it will take torebuild Lebanon's shattered infrastructure. Analysts estimate thatalready there is more than $2 billion worth of infrastructuredamage in Lebanon.Last night, Arab television stations reportedthat Saudi Arabia's King Abdullah has ordered the transfer of $1billion to Lebanon's central bank to help it support the economy.In addition, he ordered another $500-million donation to rebuildthe infrastructure. Saudi state television said the money would be"deposited" with the Lebanese central bank.