Solidere Sees Profits Jump In 2002
Lebanons largest company, real estate firm Solidere, announced that net profits had jumped to $41.14mn in 2002, compared to $1.91mn in the previous year. The increase came mainly on $59mn in revenues from land and real estate sales, with $8.33mn seen from rental properties. The rise in sales was attributed to Lebanese and Gulf Arab investors buying land for residential development. Solidere had moved back into the black...