According to “Lebanon This Week”, issued by Byblos Bank, the Ordinary General Assembly Of Solidere, the Lebanese Company for the Development and Reconstruction of the Beirut Central District, approved the distribution of $1 per share in dividends. Solidere announced net profits of $155.9m in 2007, up 18% from $132.2m in 2006.

Moreover, when including the profits of its Dubai-based affiliate Solidere International (SI), Solidere’s consolidated net income becomes $224.2m, up 70% from 2006. In fact, Solidere owns 37.2% of SI, which is developing several projects in Saudi Arabia, the UAE, and Egypt. The dividends will be distributed starting August 29, 2008.