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Topic: Solidere

	Beirut's Solidere triples profits in 2004 - Zawya.com \| Middle East Business News (Site not responding. Last check: 2007-10-18)
		Solidere also touted a significant boost in its share price which closed at $8 at the end of 2004, up from $4.875 at the beginning of last year.
		Solidere largely sees the spike in last year's business to be a result of a new "sales for share program" aimed at increasing trading volumes at the Beirut Stock Exchange and improving the company's stock value.
		Solidere could not be reached for comment, but the company has recently said construction work on its flagship project, a sprawling 100,000 square meter commercial and entertainment complex dubbed the Souks of Beirut, was scheduled to commence shortly.
	www.zawya.com /story.cfm?id=DS20050403233044329 (756 words)

	[No title] (Site not responding. Last check: 2007-10-18)
		The competition promoter is SOLIDERE s.a.l., a Lebanese private development corporation established by government decree in May 1994 and tasked with the restoration and reconstruction of Beirut's war-damaged city center.
		Under its founding decree Solidere is required to carry out the regeneration program in accordance with a Master Plan, approved by government before the company's formation, and to finance and execute the infrastructure and public domain for the entire 191 Ha Beirut Central District on behalf of government.
		Solidere holds government licenses both for the operation of city center marinas and for the establishment and operation of the 'Beirut Teleport', a cable TV and Broadband network to be initiated in the near future and planned to offer global connectivity, high speed Internet access and other value-added telecom services to city center customers.
	www.beirutmartyrssquare.com /Promoter.aspx (316 words)

	Solidere set to write off outstanding debts in two years - Zawya.com \| Middle East Business News
		Solidere's outstanding debts fell to $234 million in 2004 from $319 million in 2003 thanks to the rise in sales and rents.
		The chairman said that Solidere's debts are currently close to $180 million, adding that this debt is expected to reach $100 million at the end of 2005.
		Solidere recorded a net profit of $54.10 million in 2004 compared to $16.4 million in 2003, an increase of 229.9 percent.
	www.zawya.com /story.cfm?id=DS20050607220031175 (569 words)

	Gulf Business - The best laid plans (Site not responding. Last check: 2007-10-18)
		Also, Solidere is now in a good position to pay off more of its debt to attain a desirable gearing ratio, improve its cash flows and start to pay cash dividends to its shareholders.
		Solidere has so far invested $200 million on projects it has built for itself, while third party investors have invested $600 million.
		Learning from its past mistakes and wary of unexpected delays, the Solidere management is now insisting on medium-sized developments being completed within 36 months from the date of signing of the contract.
	www.gulfbusiness.com /html/articleview.asp?cid=1328&did=7003 (578 words)

	Human Rights Media (Site not responding. Last check: 2007-10-18)
		So Avedis was no stranger to Solidere when he heard in 1994 that the company, whose primary stockholders are multi-millionaire Prime Minister Rafic Hariri and his family, was planning on taking control of the area in which his house is built as well.
		Solidere informed Avedis that his renovations could only go forward if he removed a signal from his ownership contract that had been put in place almost three decades earlier, when he and his brother had a dispute over ownership of the home.
		According to the report, Solidere used a number of illegal tactics to force owners who refused the company’s offer of compensation out of their homes and offices, including cutting off their water and electricity; suspending trash service; and overtly threatening their safety.
	www.rightsmedia.org /look/HRM/HMS.tpl?IdLanguage=1&IdPublication=7&NrIssue=1&NrSection=37&NrArticle=1153 (1617 words)

	[No title]
		The massive redevelopment project, being overseen by local property company Solidere, is the embodiment of Lebanon's ambition to salvage the remnants of its past while laying the foundations for future prosperity.
		Land sales helped Solidere to a 32 per cent rise in profit for 1997 to $ 77.8 million after a disappointing first half but prices for the company's A and B shares are down 7 per cent this year.
		Solidere provides developers with tight guidelines for new structures in the heart of Beirut, regulating everything from the height of new buildings to the number of windows.
	web.nps.navy.mil /~relooney/Arabia_MEED94.htm (7573 words)

	Beirut
		Solidere's was entrusted with the implementation of the urban plan and the promotion, marketing and sale of properties to individual or corporate developers.
		Solidere demonstrates the evolution - for the better, in the urban planning with the creation of the highway and the "Normandy" landfill - a modern 61-hectare extension to the city.
		However, Solidere is to some extent making use of the past, and the nostalgic impulse that war generates toward it, as a marketing tool to rebuild a district that is projected to be economically valuable.
	web.mit.edu /akpia/www/AKPsite/4.239/beruit/beirut.html (2584 words)

	albawaba.com middle east news information::Solidere to exhibit the “Beirut City Centre” at Cityscape 2005
		Solidere also has a portfolio of finished real estate properties currently valued at US$300 million and which are generating US$19 million of rental income per year.
		Furthermore, Solidere was able to decrease its debt in year 2003 from around USD$ 400 million to USD$ 319 million, and subsequently to the 2002 level of USD$ 234 million end of 2004.
		Displayed at the modishly designed Solidere pavilion No. 711, Hall No. 7 will be a scale model of the project featuring the restoration and new developments taking place simultaneously to revive the traditional city centre as a hub of business, finance, culture and leisure.
	www.menareport.com /en/business/188926 (952 words)

	Blank
		roponents of Solidere say it shouldn't be criticized too harshly, given that it has already done hundreds of millions of dollars of reconstruction that neither the government nor the private landowners could have carried out on their own.
		Solidere's 1998 revenues were only one third of the company's target of 180 million, and Merrill Lynch estimated that year-end profits for 1999 will be down as low as $32 million (Daily Star 12.7.99).
		Ghattas believed that Solidere was going to provide her with a financially secure future in exchange for her family home.
	journalism.berkeley.edu /projects/lebanon/beirutblues3.html (553 words)

	THE QUARTERLY FROM SOLIDERE - October , December '96
		SOLIDERE is finalizing the design of the lighting poles that will ornament the city center and that will be installed during the last phase of the infrastructure works.
		SOLIDERE's GDR is the largest issue of its kind by a Lebanese company, and one of the largest such transactions by any company in the region.
		SOLIDERE also participated in a conference on "Beirut Through the Ages" held at the Royal Geographic Society in London, and a conference on Arab Cities at the Institut du Monde Arabe in Paris.
	www.lebanon.com /construction/the.quarterly/q96oct-dec.htm (3372 words)

	Dubai - Dubai News - Dubai Events DPM News Agency - ÃÎÈÇÑ ÏÈí (Site not responding. Last check: 2007-10-18)
		SOLIDERE plans to lead a 25 member strong delegation that will include the heads of 12 Lebanese real estate developers and constructors who are actively involved in the development of Beirut City Centre," she said.
		SOLIDERE, a private company of almost 100,000 shareholders, supports major real estate developments that have seen the Lebanese capital regaining its former glory as a premier business and entertainment hub that is increasingly attracting the interests of real estate investors, buyers and developers across the Arab region.
		The formula developed by SOLIDERE was to link property rights holders in the central district (proprietors, tenants and leaseholders) with investors in a joint-stock corporation that would be charged with the development and reconstruction of the city centre.
	www.dubaiphotomedia.com /dubai/doc_cont.asp?id=66385 (770 words)

	Beirut Blues
		Highly controversial, due to obligatory and-for-shares deals Solidere made with former downtown landowners and complaints that they were steamrollering over ancient roman ruins, the reconstruction has given hope to the Beirutis but has failed thus far to bring a much hoped-for economic prosperity.
		Despite Solidere's desire to demonstrate through a fantastic face-lift that the country is back on track, Lebanon is in the midst of a painful financial slowdown that belies the new construction.
		Proponents of Solidere say it shouldn't be criticized too harshly, given that it has already done hundreds of millions of dollars of reconstruction that neither the government nor the private landowners could have carried out on their own.
	www.annesenges.com /englArt/lebanon/blues.htm (1583 words)

	Solidere to exhibit the 'Beirut City Centre' at Cityscape 2005 \| SOLIDERE
		Solidere to showcase the 'finest City Centre in the Middle East' at Cityscape 2004
		Solidere is also considering listing its shares on other regional exchanges.
		Randa Armanazi, Public Relations Manager, Solidere, said: 'We are honored to be a part of Cityscape for the second time.
	www.ameinfo.com /67440.html (1572 words)

	Solidere forecasts higher profits this year
		This year Solidere will complete the key infrastructure to underpin the vast reconstruction of downtown Beirut for which the company was floated in January 1994.
		Solidere's head of stock management, David Mulville said sales of land, the chief source of revenue, have been greater this year than in 1997.
		Solidere, which lists A and B shares on the Beirut Stock Exchange and a global depository receipt in London, had 1997 profits of $77.8 million, 32 per cent over 1996.
	www.expressindia.com /fe/daily/19980714/19555654.html (280 words)

	In the Media
		Solidere has sold downtown land for hundreds of millions of dollars to European, Kuwaiti, and Saudi investors to build hotels and apartments.
		Solidere's master plan for downtown Beirut calls for gleaming Riyadh-like offices and condominiums, replacing the Ottoman charm of old Beirut at prices comparable to New York or Cannes, and available only to the very rich.
		Last month Solidere received a $450,000 federal grant as half payment for a "feasibility study" of possible earthquake problems on the reclaimed waterfront land.
	www.defenddemocracy.org /in_the_media/in_the_media_show.htm?doc_id=167380 (1955 words)

	Solidere announces promotional program to attract buyers and boost its shares (Daily Star) (Site not responding. Last check: 2007-10-18)
		Solidere announced a new promotional program to encourage the sale of its real estate holdings in downtown Beirut that would simultaneously attract real estate developers and investors and boost the value of the company's shares.
		Solidere recorded a profit of $16.43 million at the end of 2003, a drop of 60 percent compared to 2002.
		Solidere A and B shares rose by more than 45 percent in value in March but the prices of these stocks, now traded at more than $7, are considered to be below their true market value.
	www.1stlebanon.net /actuuk/archivesuk/resultat.php?id=422&debut=0 (586 words)

	UN Enable - International Seminar on Environmental Accessibility 1999 - 9/9
		Kabbani noted that SOLIDERE had produced a number of building codes that were not previously available in Lebanon - for instance a fire code - in addition to its barrier-free design and planning manual.
		One result of the SOLIDERE experience is the recognition throughout Lebanon of the success of the accessible design and planning in the Beirut Central District.
		The SOLID?ERE experience is judged to be sustainable over the long term only if appropriate national legislation is established concerning nation wide applicability of the codes developed for the planning and redevelopment of the Beirut Central District.
	www.un.org /esa/socdev/enable/disisea9.htm (561 words)

	Welcome IFP
		Solidere, Lebanon’s real estate giant, released its unaudited financial statements registering a net profit of $28.05 million for the first six months of 2005 up 124% from the same period last year.
		Solidere’s main source of revenue, land and real estate sales, increased 45% year-on-year to a net of $35.17 million up to June 2005.
		Solidere’s loans from banks and financial institutions dropped from $284 million in H1-2004 to $182 million in H1-2005, achieving a debt-to-equity ratio of 10.4%.
	www.ifpexpo.com /News_show_news.asp?id=1572 (149 words)

	The Woman Behind the Walls
		Solidere's implementation of a compulsory shares-for-land deal with landowners earned suspicion and criticism from some Beirutis, but the resulting fantasyland of murals symbolizes the possibility of Beirut regaining its former glory.
		The combined effort of Solidere and the artists at first glance makes one doubt that there ever really was a war.
		Solidere wanted her work to be "relaxing and green" according to Diab Ayoub, Property & Services Management Division Manager.
	www.annesenges.com /englArt/lebanon/walls.htm (852 words)

	Khaleej Times Online
		BEIRUT - Lebanon’s real estate giant Solidere said yesterday its net profit leapt to $12.5 million in the first six months of 2004 from a loss of $5.8 million a year ago due to rising sale revenues.
		Solidere, which has a virtual monopoly on rebuilding downtown Beirut after Lebanon’s 1975-1990 civil war, largely attributed the profit to higher revenues from land and real estate sales after it introduced a new selling strategy.
		Solidere said the long-stalled building of a sprawling upscale mall in central Beirut was now expected to be completed by the end of 2006.
	www.khaleejtimes.com /DisplayArticle.asp?xfile=data/business/2004/November/business_November97.xml§ion=business&col= (172 words)

	Phoenicia's Treasures Plundered
		The head of the archaeological department of the company entrusted with the reconstruction of downtown Beirut is weary of accusations that he's destroying the city's heritage.
		Solidere also found itself battling against developers and contractors who charge exorbitant prices for every delay, as well as the archaeologists who entered into a vicious tug-of-war with the real estate company.
		Naccache has been calling for a full investigation into Solidere's handling of archaeological excavations since the early 1990s when he began writing in local and international newspapers of the "massacre of heritage".
	phoenicia.org /feature.html (6290 words)

	ArabDataNet.com news (Site not responding. Last check: 2007-10-18)
		Solidere, the Lebanese Company for Development and Reconstruction of the Beirut Central District is an association of property rights holders and investors that are seeking to develop the city's infrastructure.
		The A shares have been distributed to former holders of property in the Beirut Central District and the B shares have issued to investors against their cash subscriptions in the amount of $650 million.
		Currently Solidere shares are restricted mainly to Arab investors although some warrants on the shares can be purchased by foreigners.
	www.arabdatanet.com /news/DocResults.asp?DocId=398 (498 words)

	RealEstateJournal \| Post-War Restoration Keeps an Eye on History
		Solidere was meticulously rehabilitating downtown, but largely in a refined French Colonial style.
		Meanwhile, Solidere continued with its multibillion-dollar recasting of downtown and frequently hired eminent architects and urban designers.
		But as Solidere Chairman Nasser Chamma squired celebrity architects around town in the past year, many were struck by the odd-shaped building next to Martyr's Square.
	www.realestatejournal.com /propertyreport/architecture/20040729-spindle.html (1211 words)

	[No title] (Site not responding. Last check: 2007-10-18)
		SOLIDERE, the company entrusted with restoring Beirut's past glory, is blowing up buildings in the war-damaged old Levantine city to make way for futuristic avenues, esplanades and a financial district.
		It is the most satisfying feeling,'' Hisham Karameh, a SOLIDERE engineer, said after the seven-story building went down with a deafening bang in a huge cloud of smoke and dust.
		But SOLIDERE wrote back saying all precautions were taken and denied navigation at the port would be endangered.
	almashriq.hiof.no /lebanon/900.geography_and_history/930/930.1/beirut/reconstruction/elie08.txt (651 words)

	[Imc-beirut] STOP SOLIDERE campaign !!!
		To do this, the government hired a the newly formed company called SOLIDERE, whose main shareholders were the Lebanese Prime Minister, Rafic Hariri, and his family, and authorized it to take control of a large swath of land in the city center.
		The value of the land was to be determined by government formed committees; its owners were promised compensation in the form of SOLIDERE shares.
		In the meantime the value of those same shares dropped to $4 from the $10 they had been worth at the time they were allocated to the owners.
	lists.indymedia.org /pipermail/imc-beirut/2004-July/0722-1u.html (468 words)

	SOLIDERE unveils its future plans for “Beirut City Center” :: Gowealthy.com (Site not responding. Last check: 2007-10-18)
		SOLIDERE, the Lebanese Company for the Development and Reconstruction of Beirut Central District s.a.l., unveiled its recently accomplished developments for its Beirut City Centre project and announced its future plans at Cityscape 2005.
		With regard to the work in progress, Solidere is currently working on the development of Marina facilities and Corniche car park along with land treatment, reclamation and landscaping at Hadiqat As-Samah and hotel district.
		Solidere's future plans will also focus on the development of the Martyr's square axis and the New Waterfront District, marking the internationalization of the project and the re-launching of Beirut as a world city of the region.
	www.gowealthy.com /realestate/news/306/detail.asp (402 words)

	DECONSTRUCTING BEIRUT'S RECONSTRUCTION: 1990 - 2000
		This is what is happening in the Solidere area, where Solidere is taking on the role of the implementing agency.
		Saliba answered that there are two types of stockowners in the Solidere project, type A and type B. Type A stockowners consist of the original owners of the properties of the Beirut Central District.
		Here again, Saliba emphasizes that the Solidere project cannot be an exclusive island in the long term (11).
	www.csbe.org /Saliba/essay5.htm (1691 words)

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