The Reconstruction and Development of Beirut Central District

The Reconstruction and Development of
Beirut Central District
SOLIDERE Developing the finest city center in the Middle East

Solidere
-The largest Land and Real Estate Development Company in

Lebanon.
-Its mandate is to redevelop the BCD
-The Company Capital is $ 1.6 Billion (Book value)

Solidere
Land Development
Real Estate Development
Property Management
Solidere
Strong Balance Sheet
2001 2002
US$ million US$ million
Cash 79 76
Notes Receivable 190 209
Land for Sale & Development 1,656 1,654 Strong Asset

Base
Rented Properties 156 150
Bank Loans 343 320 Low Level

of Debt
Other liabilities 163 159
Solidere
Strengths of Solidere
-Strong Asset base

(Land-Bank with a book value of $1.6 million, market value at
today’s selling prices $3.2 billion).
-High liquidity levels and positive cashflows ahead.
-Substantial amount of notes receivable from land real estate
sales (approximately $200 million) representing quasi-cash.
-Low leveraging / low borrowing levels.
(Debt/Equity ratio not exceeding 22%. Decreasing to 20%).
-Increasing rental income from rented properties.
Solidere
Strengths of Solidere
-Decreasing financial costs.

-Low and decreasing overheads.
-High gross profit margins from land sales (100% on cost of
sales)
-Private company with 45,000 shareholders
-Local shares freely traded on the local Beirut Stock Exchange
-GDR’s listed and traded on the London Stock Exchange
(International exposure and recognition)
Solidere
10 Vital Characteristics of the Investment Advantages

Lebanon offers:
• Strategic Geographic Location at the crossroads of

Africa, Asia and Europe
• Free Market Economy by Tradition
• Investment Guarantees
• Liberal Financial Environment
• Moderate Tax Rates (15% corporate)
• Developed and Non-Discriminatory Legal Frameworld
• Untapped Investment Opportunities
• Competent Human Resources as Principal Asset
• Expanding Infrastructure
• Unique Living Environment
Solidere
Investment Opportunities
1- Purchase of the Company Shares

Good opportunity given the low market price
Profitability started again as of 2002
All indictors favor an improvement in profitability
Shares are traded freely on the Bourse de Beyrouth and London
Stock Exchange through GDRs
2- Purchase of Land
Development of residential, offices etc..
3- Purchase of properties developed by Solidere.
4- Participating in Solidere’s developments
THE BEIRUT CENTRAL DISTRICT
Main Attributes
 Location
 The Master Plan
 Public Realm
 Mixed Land Use
- Offices Destination
- Residential Destination
- Visitor Destination
- Retail Destination
 Life is Back
 The New Land
SOLIDERE
SOLIDERE
The Master Plan
Total Project Area

1.8 million sq m
Reclaimed Land
0.6 million sq m
SOLIDERE
Master Plan: Flexible Development Framework
 Contextual approach.
 Extensive public domain.
 Guidelines encourage mixed use, subject to monitoring.
 Parcellation subject to demand and regulations.
 A picturesque plan - views, massing and place-making create
value.
 Flexible and market-oriented - multiple choices of developers
give mix.
 Planning sectors reinforce local character and identity.
SOLIDERE
THE EXISTING CITY CENTER
SOLIDERE
The Public Realm
 SOLIDERE finances and builds entire public realm.

 Commitment to quality - direct impact on land sales and asset
value.
 Public domain constitutes 49% of land area.
 New infrastructure - new utilities include fiber optics, cable TV.
 Extensive underground parking facilities
 More than 30 parks and squares - hierarchy from national to
local.
Infrastructure
Finishing and Landscaping
SOLIDERE
SOLIDERE
SOLIDERE
An Active Mixed-Use City Center
 Office Space: Important local administrations and international

organizations and businesses are attracted to intelligent office space.
 Residential Space: A growing clientele is occupying the restored or

modern residential space.
 Visitor’s Destination
 Retail and Leisure: Numerous shopping facilities and various

leisure and cultural activities will cater to the tastes of tourists and
daily visitors as well as to the residents of Beirut City Center.
 Office space: Important local administrations and international

Residential Destination
 Saifi Village
 Wadi Abou Jamil Residential Area
 Sea Front Properties
 Other Residential Areas
The Saifi Residential Project
 Conveniently located at the south-eastern corner of the city center,

the project offers 139 comfortable and attractive new apartments.
 Its design drawing on traditional Lebanese architecture will create

an atmosphere of residential peace and serenity, enhanced by
landscaped gardens and walkways.
 SOLIDERE encourages the development of a real estate and rental

market by providing quality housing characterized by efficiency,
comfort and good management.
 Potential occupants may be offered a simple lease, a lease with an

option to buy or an outright sale.
SOLIDERE
Wadi Abu Jamil Area
Sea Front Properties
Visitor Destination
 Hotels
 Marina
 Archeology
 Pedestrian Areas
 Open Spaces
Visitor Destination
SOLIDERE
WESTERN MARINA
SOLIDERE
Archeology
 Largest urban archaeology site in the world.

 Archeology adds value.
SOLIDERE
Pedestrian Zone
SOLIDERE
Retail Destination: THE SOUKS OF BEIRUT
 Located at the very heart of the city center, the Souks of Beirut
will be an important magnet in the BCD.
 Only a short distance from the hotel district, they will be a

destination for tourists and residents alike.
 The Souks of Beirut will offer more than 100,000 sq m of floor

space, including: a prestigious international department store;
 a supermarket and a multi-use store;
 a gold souk;
 an entertainment complex with a movie multiplex and a space
theater with three-dimensional and dome technology.

Retail Destination: THE SOUKS OF BEIRUT
SOLIDERE
THE SOUKS OF BEIRUT - Entertainment Complex -
8-Screen, 2000 seats cineplex
SOLIDERE
THE SOUKS OF BEIRUT - IMAX 3D Dome Theater
SOLIDERE
THE SOUKS OF BEIRUT
The Gold and Jewelry Souk

THE SOUKS OF BEIRUT - The Department Store
SOLIDERE
Solidere
Investment Opportunities
1- Purchase of the Company Shares

Good opportunity given the low market price
Profitability started again as of 2002
All indictors favor an improvement in profitability
Shares are traded freely on the Bourse de Beyrouth and London
Stock Exchange through GDRs
2- Purchase of Land
Development of residential, offices etc..
3- Purchase of properties developed by Solidere.
4- Participating in Solidere’s developments
THE NEW LAND
61-hectare modern extension to the traditional BCD on new land.
 A prime site on the seafront.
 Commands fine views of the Mediterranean, with a

picturesque landscape of hills and mountains across the bay.
 Heavy engineering investment, both in sea defense works

and in processes to deliver clean development sites, are
actively under way.
SOLIDERE
SOLIDERE
SOLIDERE
SEA DEFENSE
SOLIDERE
SOLIDERE
 Office space: Important local administrations and international

 Residential space: A growing clientele is occupying the restored or

modern residential space.
 Visitor destination
 Retail and leisure: Numerous shopping facilities and various leisure

and cultural activities will cater to the tastes of tourists and daily
visitors as well as to the residents of Beirut City Center.
SOLIDERE

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The Reconstruction and Development of

Beirut Central District

SOLIDERE Developing the finest city center in the Middle East

-The largest Land and Real Estate Development Company in

-Its mandate is to redevelop the BCD

-The Company Capital is $ 1.6 Billion (Book value)

Real Estate Development

Notes Receivable 190 209

Land for Sale & Development 1,656 1,654 Strong Asset

Bank Loans 343 320 Low Level

-Strong Asset base

-Decreasing financial costs.

10 Vital Characteristics of the Investment Advantages

• Strategic Geographic Location at the crossroads of

1- Purchase of the Company Shares

Total Project Area

 SOLIDERE finances and builds entire public realm.

 Office Space: Important local administrations and international

 Residential Space: A growing clientele is occupying the restored or

 Retail and Leisure: Numerous shopping facilities and various

 Office space: Important local administrations and international

 Conveniently located at the south-eastern corner of the city center,

 Its design drawing on traditional Lebanese architecture will create

 SOLIDERE encourages the development of a real estate and rental

 Potential occupants may be offered a simple lease, a lease with an

 Largest urban archaeology site in the world.

 Only a short distance from the hotel district, they will be a

 The Souks of Beirut will offer more than 100,000 sq m of floor

 an entertainment complex with a movie multiplex and a space

theater with three-dimensional and dome technology.

The Gold and Jewelry Souk

1- Purchase of the Company Shares

61-hectare modern extension to the traditional BCD on new land.

 A prime site on the seafront.

 Commands fine views of the Mediterranean, with a

 Heavy engineering investment, both in sea defense works

 Office space: Important local administrations and international

 Residential space: A growing clientele is occupying the restored or

 Retail and leisure: Numerous shopping facilities and various leisure

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