Lebanon's largest firm, Solidere recently sold its property in Riad El-Solh to Kuwaiti firm Landmark for $52.5 million. Landmark plans to build a five-star hotel, furnished apartments and offices on the purchased land, reported Lebinvest.
Solidere was incorporated as a private joint stock company in 1994. Its capital, amounting to $1.82 billion constituted of real estate properties in Beirut’s city center appraised at $1.7 billion, and of cash subscriptions.
As a land developer, Solidere prepares the land in central Beirut for sale to clients wishing to develop their own real estate properties in the city center. Its activities in this domain involve town planning, site preparation, including archeology, infrastructure works, hardscaping, urban furniture and landscaping, parcellation and urban management. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
