Biannual 1

biannual
Photo Lane Barden
January-June 2013
2
BUSINESS & FINANCE
ANNUAL GENERAL MEETING
CONSOLIDATED FINANCIAL HIGHLIGHTS
Solidere held its Ordinary General Meeting on July 29 in Biel. Shareholders
representing more than 37% of total shares attended the meeting which was
presided by Chairman Nasser Chammaa. The Meeting resolved to approve
the Audited Stand Alone and Consolidated Financial Statements of the
Company for fiscal year 2012, and the proposal of its Board of Directors to
carry forward the profits of 2012; give the Chairman and the Board of Directors the authorizations stipulated for in Articles 158 and 159 of the Lebanese
Commercial code, clear the Chairman and members of the Board of Directors
quitus for their management of the Company in the year 2012.
DECEMBER 31
2012
2011
Gross land sales
49.6
241.7
Gross rental income
58.1
49.9
General and administrative expenses
38.0
38.2
Sales backlog
17.5
158.8
85.63
83.72
SUMMARY OF OPERATIONS IN US$ MILLION
FINANCIAL RATIOS %
Gross profit margin - land sales
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
DECEMBER 31
2012
US$US$
Return on liquid assets
Debt to equity
4.11
4.16
37.51
30.48
2011
ASSETS
Cash and bank balances 163,463,816
Prepayments and other debit balances
174,138,680
55,628,848
47,658,853
Accounts and notes receivable, net 554,078,045
551,341,792
Inventory of land and projects in progress 1,248,961,424
1,178,348,256
CONSOLIDATED STATEMENT OF INCOME
DECEMBER 31
2012
US$US$
2011
Investment properties, net
457,015,039
444,629,160
Revenues from land sales 49,580,377
241,722,548
Investment in associates
314,965,852
317,731,762
Revenues from rented properties 58,132,896
49,862,775
Fixed assets, net
72,181,096
70,316,628
Revenues from rendered services
6,141,662
5,280,128
TOTAL ASSETS
2,866,294,120
2,784,165,131
Revenues from hospitality
6,593,970
6,681,294
Cost of land sales
LIABILITIES
(7,122,763)
(39,344,564)
Charges on rented properties (27,541,099)
(21,166,871)
(5,901,952)
Bank overdrafts and short term facilities 646,886,436
520,049,200
Cost of rendered services (6,855,684)
Accounts payable and other liabilities
144,809,477
Cost of hospitality (10,590,675)(9,896,404)
121,132,130
Dividends payable
78,776,194
84,195,863
Gain on sale and disposal of investment properties4,376,528
Deferred revenues and other credit balances
40,835,805
29,058,568
Net revenues from operations 72,715,212
70,095,747
Share result from associates
Loans from banks and financial institutions
69,320,670
TOTAL LIABILITIES
956,951,235
848,208,855
625,809
227,862,763
3,266,683
3,967,997
General and administrative expenses (37,960,180)
(38,196,142)
(6,422,073)
Depreciation of fixed assets
(8,160,418)
SHAREHOLDERS’ EQUITY
Provision for contingencies
(7,986,410)
-
Issued capital at par value US$10 per share:
Other expenses
(233,877)
(5,066,404)
Other income
100,000,000 class A shares1,000,000,000
65,000,000 class B shares
650,000,000
587,656
613,570
650,000,000
Taxes, fees and stamps (3,956,465)
(2,874,543)
1,650,000,000
1,000,000,000
Interest income 29,077,466
24,687,011
Legal reserve
150,411,796
144,809,477
Interest expense
(21,081,965)
Retained earnings
196,787,910
263,104,931
Profit before tax 19,852,849
Cumulative foreign currency translation reserve
(470,351)
(295,169)
(Deficit) / surplus on treasury shares’ activity
( 2,446,798)
10,166,079
( 84,210,286)
(134,915,772)
to the owners of the parent 1,910,072,271
1,936,270,252
1,650,000,000
Less: Treasury shares
(27,496,818)
Income tax expense
(2,322,812)
PROFIT FOR THE YEAR
17,530,037
Basic/diluted earnings per share
183,490,214
(24,691,842)
158,798,372
0.1104
1.0285
Equity owners of the parent 17,945,447
159,029,668
Total equity attributable
(313,976)
Attributable to:
Non-controlling interest
(729,386)
Total equity
1,909,342,885
1,935,956,276
Non-Controlling interest
(415,410)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY2,866,294,120
2,783,165,131
PROFIT FOR THE YEAR
17,530,037
(231,296)
158,798,372
SECURITISATION
A US$185 million securitization deal for Solidere was closed in April 2013. The transaction, concluded by BLC Bank and BSEC, constituted the largest ever
asset backed issuance in the local capital markets. It involved the setting up of a securitization fund under Lebanese law for the purpose of liquidating at face
value a portion of the Solidere land sales receivable portfolio representing financing granted to its clients. The proceeds are to provide part of the financing
needed by Solidere for pursuing its real estate development activity and implementing infrastructure on the waterfront.
The fund issued three tranches of securities: a senior Class A of US$130 million, subscribed mainly by local banks; a mezzanine Class B of US$45 million
retained by Solidere, which may be resold after the redemption of the Class A notes; a junior Class C of US$10 million, to be retained by Solidere for the life
of the transaction.
The securities are linked to high credit clients and to a solid credit structure. The fund, having purchased mortgage backed notes with a weighted average loan
to value of 53.3% on the closing date, provided Class A noteholders with circa 3x worth the value of their investment in realty security, since the first rank
mortgage on the land was transferred to the fund for the benefit of the noteholders. Investors in Class A notes are paid a fixed coupon of 5.0% over a
duration of 1.33 year whereas the expected final maturity is 2.5 years.
SOLIDERE SALES
DEVELOPMENT NEWS
CONFERENCES & REPORTS
STATUS
Solidere participated in three equity
investor conferences:
The 9th EFG Hermes One on One
Conference (Dubai) February 24-27;
Lebanon Capital Markets Day 2013
(New York) May 4-5; HSBC’s 7th
MENAT Business Leaders Equity Forum
(Istanbul) May 20-22.
A total of 394 projects representing close to
3 million sq m BUA are in various stages of
development.
Two development lots were sold by Solidere in the last
semester:
Lot 1408 in Mina El Hosn, covering a land area of 2,938 sq m
was purchased by Mina El Hosn 1408 s.a.l. to be developed
into a residential building totaling 16,500 sq m of floor area.
Lot 1106 in Zokak El Blatt, covering a land area of 903 sq m
was purchased by A.T.A. s.a.l. to be developed into a
residential and/or offices building totaling 3,700 sq m
of floor area.
LAND SWAP
Solidere signed a land swap with the Ministry of Foreign
Affairs (MoFA) and the Ministry of Finance involving lots
1076 and 1085 Saifi, where a new MoFA building will be
constructed on lot 1076 Saifi. The land plot is located at the
eastern entrance of Beirut, between George Haddad Street
and Martyrs’ Square.
The deal gives the State a land of 5,300 sq m surface area
with 13,000 sq m building rights for the prestigious building
in a traditional architectural style eccoing the “Petit Serail”.
PROJECTS
2741,420,977
612,543
45488,867
23373,448
25361,778
716,632
14407,835
TOTAL
3943,072,005
SHARE A | DAILY CLOSING PRICES
VOLUME
110,250
$14.0
161,184
101,312 132,446
80,000
$13.0
60,000
$12.0
40,000
$11.0
20,000
$10.0
0
January 2
February 14
March 29
May 16
June 28
SHARE B | DAILY CLOSING PRICES
VOLUME
PRICE
187,352
$14.0
80,000
$13.0
60,000
$12.0
40,000
$11.0
20,000
0
$10.0
January 2
February 14
March 29
Share price (US dollars)
The Company also welcomed several
local, regional, and international fund
managers and analysts at its premises
and held conference calls with various
others to communicate and update
them on the latest developments.
Angus Gavin was an invited speaker
at the Yale Arab Alumni Association
(YAAA) regional conference entitled:
“Navigating the Tides: Urban Transformations in the Arab World” (Doha)
May 5-7.
SHARE PERFORMANCE | 1ST SEMESTER 2013
PRICE
BUA SQ M
Completed
Under restoration
Under construction
Awaiting permit
Under study
No activity
Awaiting submission
May 16
Trading volume
June 28
With the geopolitical instability intensifying in
the region, most market participants in the Beirut
Stock Exchange stayed on the sidelines. However,
both classes of shares saw a sudden push upwards
around the beginning of April, with the appointment of a new Prime Minister that helped improve
the political outlook in the country. But, with the
delays in forming the Ministerial Cabinet, Solidere
shares continued their slow drift downwards,
especially around the beginning of June, after the
company issued its audited financials that unveiled
lower profits for the year, mainly due to the general economic slowdown and the tense political
environment in Lebanon and the region, which had
a restraining effect on land sales, the investment
climate and commercial activities in general.
During the first half of the year, share A fluctuated between a low of US$11.00 and a high of
US$13.83, closing the semester at US$11.21, a
14% decrease from the previous semester. Share
B traded between a low of US$11.00 and a high of
US$13.75, closing the semester at US$11.21, a 13%
decrease from the previous semester.
Trading activity increased slightly during the first
half of the year, with around 4 million shares of
both classes trading in the local market. GDRs
traded on the London Stock Exchange, closed the
period lower at around US$10.95, a 16% decrease
from the previous semester.
DESIGN & SHOPPING
Photo Lane Barden
4
CITY CENTER
BEIRUT SOUKS
BEIRUT DESIGN WEEK
NEWCOMERS
BUSINESS & SERVICES
NEWCOMERS
SAIFI VILLAGE
Antoine Hakim
Antoine Karam House Linen
Bang & Olufsen
Blue Black
Bonja Signature
Bronx Summer Terrace
Chic Nails
CLVII
Copla
Façonnable
H2
Gentleman Junior
Gilt
Kidzmondo
The Kooples
Long Time Liner
Main Street
Metropole
Pallmia
Pronovias
Revolver Resto Bar
Versace Home
V roro
Al Mawarid Bank
U Energy Beirut
Joanna Laura Constantine
Little Room
Plaisirs d’Ariane
Sugarfree
Superdry
Le Temps des Cerises
Milia M, talk and screening
in collaboration with Director
Soniya Kirpalani
The Making Of, Nada Debs
Randa Tabbah
Starch
Ancient Japanese Art of Maki-e
on Pearls, Purrl
The Future of Fashion, silent auction
by The Creative Space Beirut, Bokja
OPENING SOON
Gatsby
John Lobb
Meissen
New Yorkers
Nanokeratin System
NU
The One
Pal Zileri
Patrizia Pepe
Robert Abi Nader
Shamballa Cult
Tufenkjian
BIEL
Wedding Folies, February 7-10
Horeca, April 9-12
Forward Forum, April 18-21
Project Lebanon, June 4-7
Outdoor Lebanon, June 26-30
ZAITUNAY BAY
Beirut Designers’ Week, May 23-26
OPENING SOON
Mike Sport
PIZZA Co
Virgin Megastore
EVENTS
A romantic getaway this Valentine,
February 14
Mothers’ day, photoshoot, March 21
Hoor al-Mumtaz couture show
(Pakistan), March 23
Harley Davidson, Trablous Street,
March 24
Emilio Pucci, spring/summer 2013
collection, April 11
La Maison Chloé, retrospective,
June 5
New Mouawad watch launch,
Jewelry Souk, June 13
Afkart, Lebanese designers,
the Platform, June 26-30
OUTBOX FILM FESTIVAL
Taking place in the historic Roman
Baths in its fourth edition from
June 27 through June 30 this
outdoor cinema welcomes a
dynamic audience of all ages and
backgrounds to view a number of
local and international short films
and vote for their favorite.
This year’s recipients:
Best Foreign Director: Rupert Reid,
Boo
Best Animation: Kasia Wilk, Bear Me
Best Lebanese Director: Hiba Tawaji,
The Rope
BOOKS & FESTIVALS
MOUAWAD MUSEUM
RECTO VERSO
BEIRUT SPRING FESTIVAL
EL BOURJ BOOKSHOP
Wajdi Mouawad Canadian playwright and actor, born in Lebanon,
was the guest of honour of the
fifth edition, at which he gave a talk
moderated by Lebanese writer and
art critic Paul Chaoul, Banque Audi
Headquarters, May 29
Open doors to discover the
preserved heritage in institutions
such as An-Nahar and Instituto
Cervantes, June 8- 10
Fleur de Sel, Nada Skaff,
Dar An-Nahar, February 25
Celle que tu es devenue 1910-1920: Un
destin libanais, Nayla Aoun Chkaiban,
Tamyras, April 4
Ma vie en 3D, Désir, Discipline,
Détermination, Antoine Aoun,
éditions Elzévir, May 9
L’islam et la femme, Zeina el Tibi,
éditions DDB - Paris, May 17
La cantatrice chauve, adapté par
Stéphanie Achkouti; Belle des cèdres,
Anne Sorlut Haddad, illustrated
book, éditions Alba, May 28
Azma fi Souriya, Kamal Diab,
Dar An Nahar, June 11
The Electoral Laws in Lebanon, Rabih
El Chaer, February 4
You Are Immortal - Take Control of
Legacy, John Antonios, February 11
Low Level Reforms in the Public
Sector Will Succeed, Akram Najjar,
February 18
From Garbage with Love, Ziad
Abichaker, February 25
Your Rights as a Lebanese
Consumer, Fouad Fleifel, March 4
Ecology and House Care in Lebanon,
Nathalie Amy, March 11
Dance and Body Movements, Omar
Rajeh, March 18
ANTOINE ID
HAY FESTIVAL BEIRUT
MONDAY TALKS
Imagine the World, three days
celebrating the dialog of cultures
between international writers, thinkers and artists, May 8-10.
Names and Significances,
Tony Naufal, March 25
PRIX PHOENIX DE LITTERATURE
Awarded to Wajdi Mouawad by
Anima and Banque Audi, January 17
ARCHIVES DAY 2013
Il pleut aussi sur Beyrouth, Caroline
Bourgeret, May 24
INDIGO ON THE ROOF
Lebanon – Beauty Beyond Belief,
Jamal Saidi, Ayman Saidi and
Karah Byrns, March 20
VIRGIN MEGASTORE
Alsamt Loughati, Mary Abou-Jaoudé,
May 2
LECTURES
The art of collecting and the art
market, with Christie’s, Beirut
Exhibition Center, April 4
Living environments: restoration,
architecture and Public Space, round
table with Nabil Gholam, Hala
Younes and Imad Gemayel, June 26
How our Choices are Hijacked
by Media and Architecture,
Fay Niewiadomski, April 8
BEIRUT WATERFRONT
Bike for Peace, Bikeathon, April 14
10Km Women’s Challenge, organized
by the Beirut Marathon Association,
May 26
BEIRUT SOUKS
Big Dance, organized by the British
Council in the presence of
Ambassador Tom Fletcher, May 18
13th Autism fun day, May 18
Toufoula charity, Platform, June 4-5
The ICRC: 150 years of humanitarian action, a photography exhibition
celebrating the Red Cross; also the
finish line of a four day awareness
run across the country by Lebanese
athlete Ali Wehbi, Trablous Street,
June 29 – July 7
Recollections: Portraits of Syrian
Refugees, organized by UNHCR,
photos by Marc Deville, in the
presence of António Guterres, High
Commissioner for Refugees. June
20 being world refugee day, Jewelry
Souks, June 18 – July 7
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EXHIBITIONS
THE JEWELRY SOUKS GOLDEN YEARS INAUGURATION
BEIRUT EXHIBITION CENTER
PIÈCE UNIQUE
MARK HACHEM
LE GRAY
Huguette Caland 1944 – present,
curated by Nadine Begdache
and Brigitte Caland,
January 16 – February 24
The art and life of Chaouki Chamoun,
curated by Amal Traboulsi,
March 7 – April 21
Air Wall, Jean-Marc Nahas, the artist
painted on walls throughout the
exhibition, May 8 – June 2
Prix Pictet Power, global award in
photography and sustainability,
with the following themes: power,
growth, earth and water, June 6-30
Savage Waves, Sami Hamaoui,
January 30 – February 9
Cerfs-volants, Assia Hobeika,
April 11-20
Infusions of color, reality and imagination, Adonis Tohmé, May 9-25
London 2012 Olympic Legacy, Lena
Kelekian, Hagop Sulahian, May 27
Beirut Mutations, Samer Mohdad,
January 15 – February 25
Karakouz, Raouf Rifai, February 7-23
Atfal Souriyah, fund raising for
Syrian children refugee, March 4
Omar Khayyam à l’Heure de la Sieste,
Mona Trad Dabaji, March 21 – April 6
Soufan, Drowned in black reality,
April 16 – May 4
Twelve Artists, paintings and
sculptures, May 7-22
Jabal, group show, with Fransabank,
May 8-12
A game of hide and seek,
Rima Khatib, June 24 – July 7
BEIRUT SOUKS
ALWANE
The Jewelry Souks Golden Years,
April 3 – May 6
Luminarium Mirazozo, May 1-9
British Union Flags, May 18 – June 2
THE VENUE
Children and Wall, Riyad Ne’mah,
March 22 – April 4
ACS baccalaureate visual art show,
April 16-21
Zardman, April 25-27
Nicki’s Adventures around the world,
Nicole Debbas, June 7-9
H. Chantout, paintings, June 19-30
AIDA CHERFAN
J’ai des idées plein la tête, Rita Kazan,
March 1-22
Paintings, Aïda Halloum, April 5-26
MOUAWAD MUSEUM
Le printemps des bijoux, March 1-17
Art from the heart: beauty and
the horses, Fouad Tomb, April 3-14
AFAK GALLERY
Gharib fi Makha Al Nawfara,
Boutros Al Maari, June 12-29
Collages, Hussein Madi, May 10-31
Mouvances Lumineuses, Thierry
Van Biesen, March 19 – April 2
Emotions, Assumpció Mateu,
April 4-18
Hoda Baalbaki, April 23 – May 7
AYYAM
Depths, Lara Zankoul,
January 10 – February 15
Inner Self, Walid el-Masri,
February 21 – April 4
Afterimage, Ginane Makki Bacho,
April 11 – June 15
MONA TRAD DABAJI
H. CHANTOUT, THE VENUE
GINANE MAKKI BACHO
LARA ZANKOUL
NICKI’S ADVENTURES AROUND THE WORLD
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BEIRUT EXHIBITION CENTER
PICTET PRIZE
CHAOUKI CHAMOUN
HUGUETTE CALAND
JEAN-MARC NAHAS
HUGUETTE CALAND
JEAN-MARC NAHAS
10
WORKSHOPS FOR THE YOUNG
CHAOUKI CHAMOUN WITH THE KIDS
CHAOUKI CHAMOUN
JEAN-MARC NAHAS
12
FÊTE DE LA MUSIQUE 2013
Fête de la Musique persisted with
its key values in its 13th edition
2013 celebrating international
musical and cultural diversity
interpreted by professionnals and
amateurs, free for all and uniting
the crowd. The stages were set
all over Beirut central district in
the Roman Baths, Martyrs’ Square,
Samir Kassir Garden, Beirut
Souks, Zaitunay Bay and several
churches.
FRENCH AMBASSADOR DENIS PIETON PERFORMING AT THE ROMAN BATHS
SOUK EL TAWILE
WATERFRONT
Blue Lace
Jebebara (Africa - Guinea)
Adrien
Mikel Aoun and The Country Boys
Afrobeat Collective
Episode
Shadowalls
Impulse
Audio Traffic
Mqube
Mad
Cottonmouth
David Maouad
Vanclod Jandam
Ronin & Nesta
Ramzy Shaar - Stellar Phonics
Recordings
Alterra
SAMIR KASSIR GARDEN
ZAITUNAY BAY
The Lowhighs
Blue Yeast
Nachaz
Postcards
Camille And Lory
The Coolcumbers
Murphey Lawless
The Banana Cognacs
Al 3Arabi Mo5
Al Kamandjati
Bl 3Arabe
Ribal Raya
Twins Ag
Audiyat
Rojo Del Libano
Massar Egbari (Egypt)
Meen
Rasta Beirut
ROMAN BATHS
BEIRUT SOUKS
Joy Fayad
Lara Eidi (Greece)
Pochette Surprise
Dalele (France)
The Jj’s (Belgium)
Segundo Bloco (Brazil)
Console (Germany)
Snowslash
Champlain
Bruno Tabbal
The Missing Pixels
Sandmoon
Nour
Gilbert Simon
Silverage
Albatross (Pink Floyd Tribute)
CROUD AND STAGE AT ZAITUNAY BAY
SAINT ELIE KANTARI
EL BOURJ BOOKSHOP
Trio de Fleurs opera
Al Bustan Festival Choir
In collaboration with École des arts
Ghassan Yammine and Revolver
Quatuor de guitares, Jana Choufani,
José Khawand, Majd Osseiran and
Alexandre Sayegh
Christophe Corm, guitare
Big hits, Ryan Idriss, saxophone
Tango Nocturno with the Fabian
Bertero Tango Quartet
EVANGELICAL CHURCH
Ghassan Yammine
Chamber orchestra trio flute,
clarinet, bassoon interpreting
Mozart, Vivaldi, Ferenc Farkas,
F.R Gebauer and arias by Puccini,
Donizetti, Tchaikovsky and
Rimsky-Korsakov
CAPUCHIN CHURCH
Coralino children’s choir
Lebanese Music School
Citicantores choir
14
PERFORMANCE
INTERNATIONAL JAZZ DAY 2013
URUGUAY STREET BY NIGHT
INTERNATIONAL JAZZ DAY
BEIRUT SPRING FESTIVAL
MUSIC HALL
Under the patronage of Unesco, Uruguay Street,
April 30
Chababeek Beirut, concert by Tania Saleh,
Samir Qassir Square, May 26
The Sentinel, written and directed by Wajdi
Mouawad, Cie Au Carré de l’Hypoténuse,
Jane Birkin (France), May 29
Michel Portal Quartet, February 24
Mashrou3 Leila, sponsored by BLF, March 6
The Something Rain, Tindersticks on tour, April 2
Tango y Nada Mas, April 23
Rover, May 12
WAJDI MOUAWAD
BEIRUT SPRING FESTIVAL 2013
JANE BIRKIN
TANIA SALEH
16
VISITORS
Left to right
Peter Werner with GM Mounir
Douaidy
Jim Cowles and Parvis Ladha
with Maher Beydoun
OFFICIALS
Uruguay ambassador Marta Inés Pizzanelli and first secretary chief of consular section Nicolas Rodriguez; German ambassador Botschafter Christian Clages
with head of property management to the German Ministry of Foreign Affairs Volker Pellet, executive board and head of port authority in Duisburg member
Thomas Schlipkother and MVW Lechtenberg & Partner managing director Dirk Lechtenberg; Ministry of Justice in Khartoum undersecretary Essam Abdel
Kader and advisor to the governor Ali Khadr with a Ministry of Justice delegation and General Consul at Sudanese Embassy to Beirut Samir Babatout; 17 representatives of European municipalities; eight high Kurdistan responsible; Bucarest municipality president Nicolas Omtanou with 12 members; deputy director
of Innovation, Science and Technology Division at the Foreign Affairs and International Trade in Canada Rene Wassill with senior commercial officer Grace Dib
and trade commissioner Nathalie Nercessian at the Canadian Embassy to Beirut; Cyprus chairman state fairs authority Loizos Constantinou with member
of the board of directors Ninos Phrantzias.
BUSINESS DELEGATIONS
Citi Global Markets Limited MENA CEO Jim Cowles; American Airlines regional sales and marketing manager Parviz Ladha offline sales for Africa, Middle-East,
India, Russia, Pakistan and Sri Lanka; WSP Cantor Seinuk director Kamran Moazami and technical director Mark O’Connor with Rodolpho and Salim Matar
(UK); Daikin chief regional officer Hiroshi Fujioka and department sales manager Afif Arien with regional manager Amal Halime (Japan); CommerzBank Group
chairman of the board of managing directors Martin Blessing and head of financial institutions Peter Werner (Middle East, Africa, Latin America) with senior
representative in Beirut Hans Pirner (Netherlands); Operations Management Consultancy (OMC) chairman Mario Abela with TAG and other firms’ chairman,
Cheikh Sabah Fahd el Salem al Sabah; UBI France director Henri Castores with commercial companies representatives and export consultant at the French
Embassy Arlette Nehmé (France); Mokhiber & Moretti LLC attorney at law Albert Mokhiber and KADCON Corporation in Washington president Riad Kadissi;
four Egyptian investors; four Malaysian investors.
PROFESSIONALS
Architect Oktay Nayman and urban planner Ahmad Kaya with Souheil Khoury (Turkey); 25 International and Lebanese participants to the Seminar of Chede
Med (Cercle de Hautes Etudes pour le Développement Economique en Méditerranée); Rotary consultant Bernard Ziadé, architect Andry Rakotoarisoa, art
historian and Architecture et Patrimoine animator David Gadanho, engineer Benjamin Deny and Angry Rakotoarisoa (France); Atelier Bruckner Architecture
Exhibition design and Scenography professor Uwe Bruckner with head of marketing and acquisition Stephanie Klinge; three Iraki engineers and planners;
three French artists with one American.
ACADEMICS
London Southbank University 15 postgraduates architecture students with their professor Alexander Graef; 19 Bartlett School of Planning UCL students with
their professors, University of Cambridge architecture professor Dr. Wendy Pullan with student Konstantin Kastrissianakis (UK); Queens University professor
James Anderson (Belfast); Columbia University student Melissa Amin (US); Cracow University of Technology architect PhD. Kazimierz Butelski and Kecoco’s
Monica Butelska (Keen Concept Corporation) (Poland); 12 Lebanese Amerincan University (LAU) architecture students with professor Erhard Schutz; six American University of Technology (AUT) students with Masculin Magazine journalist Aida Kassab; three Université Saint-Joseph students (USJ); 40 Alba students.
MEDIA
German photographer Enrico Grunert.
SQUARE INAUGURATION
OBITUARY
COPYRIGHT © 2013 SOLIDERE
Amin al Hafez Square located
between Riad El Solh street and
the Roman Baths was inaugurated
with government officials and
family members, June 10.
Gabriele Basilico, 1944 – 2013
The Lebanese Company for the Development and
Reconstruction of Beirut Central District s.a.l.
PO Box 119493 Beirut
2012 7305 Lebanon
Tel 961 1 980650 - 980660
Fax 961 1 980661 - 980662
[email protected]
www.solidere.com
PHOTOGRAPHERS
Lane Barden | Mosbah Assi | Ahmad
Azakir
CELEBRATING TWO DECADES OF GRAPHIC DESIGN
COVER
The Beirut Chants Festival Season 5 logo designed by Sibylle Tarazi for Solidere was featured in
Revolution/Evolution Two Decades and Four Hundred Designers Later, published by the American
University of Beirut, Graphic Design Department.
Photo Lane Barden, 2012
Public Art: Music Girl, sculpture
by Nadim Karam, 1997 located
on the Waterfront.