Lebanon’s Solidere reports 148% surge in 2013 net income

July 10, 2014 12:48 am


Lebanese real estate developer, Solidere has posted a 148.1% surge in its 2013 net profit to $39.7m, compared with $16m in the previous year, despite the economic slowdown and tense political situation in Lebanon and the region, The Daily Star has reported. Solidere’s consolidated profits, which includes its investments abroad, reached $42.6m, it said. “This profit was more than double compared to the results in 2012 which was $16m and this outcome was achieved despite the economic slowdown and the tense situation in Lebanon and the region,” Solidere said.

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