Solidere Exceeds Expectations
Better than expected real estate sales allowed Solidere, the giant company charged withrebuilding central Beirut and the dominant listing on the Beirut Stock Exchange (BSE), toreport profits of $77.8mn for 1997. Total built-up area sales of 136,223 sq. ms., yielding$1,056 per sq. m., was the prime motor for the improved earnings. The result comes despitethe pull-out of two major projects from the Solidere area - one a Malaysian...