BEIRUT - Although political instability remains a threat, Solidere’s profits for this year should remain near 2007 levels of $22 million, the company's general manager told the Arab Economic Forum in Beyrouth on Friday. During this business gathering, Mounir Doueidi added that "the profits are likely to match last year's levels. The political situation remains tense but no ongoing project in central Beirut has been cancelled".

Doueidi also said that the Souks shopping mall, a high-profile 100,000 sq metre project in the city centre being built by Solidere, will be completed in 2009.

Former premier Rafik al-Hariri, who was assassinated in 2005, founded Solidere in 1994. He was the largest shareholder in this controversial company. His political opponents accuse Solidere of razing historic buildings that could have been saved to make more money.