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Solidere: The Role of the Company
Solidere has three functions:

1/Infrastructure Works
SOLIDERE is in charge of financing and executing all infrastructure works inthe BCD. The protection and treatment of land reclaimed from the sea in the area facing the Normandy and Hilton hotels, and the development of two marinas, are also part of the infrastructure works.

According to an August 10, 1994 Council of Ministers' decision, SOLIDERE will be reimbursed by the State for all infrastructure costs incurred, including installing roads, public spaces, gardens, all networks, pavements, light posts, a power transformer unit, and parking areas. In addition, SOLIDERE responsibilities in the reclaimed zone will be to treat the refuse dumped in the area over the years, spread and compact the landfill, establish the sea protection, install the total infrastructure, the seaside boulevard, promenades, public parks and two marinas.

Payment for these works, and compensation for 106,000 square meters of land in the traditional BCD expropriated by the State for public spaces as a result ofthe Detailed Master Plan of March 4, 1994, will amount to 292,000 square meters in the reclaimed lands, with the remaining 316,000 going to the State.

2/Real Estate Development
I
n the fields of rehabilitation and restoration, SOLIDERE will develop preserved buildings which have not been renovated by their former owners. About 260 buildings have been designated as restorable; and many are expected to be renovated by their owners or tenants.

As for new real estate development, the Company will develop part of the available land and will sell the rest to other real estate developers. About 571,000 square meters will be suitable for new development in the traditional BCD and to this will be added another 260,000 square meters in the reclaimed area.

3/Property Management
A
third function of SOLIDERE is to manage real estate properties, buildings and other facilities.

Surface Areas in Square Meters The State SOLIDERE Exempted Lots Total
Traditional BCD As Per Master Plan 540,000 571,000 * 80,000 ** 1,191,000
Reclaimed Land 316,000 292,000 - 608,000
Total 856,000 863,000 80,000 1,799,000
* 160,000 of this area occupied by preserved buildings
** Government and religious buildings

 

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Beirut Central District | Current World Bank projects in Lebanon | Electricity Rehabilitation


WHAT IS SOLIDERE? THE ROLE OF THE COMPANY THE PROJECT THE MASTER PLAN
THE PROGRAM CURRENT DEVELOPMENT ANTICIPATED PHASING ARCHEOLOGY
THE SOUKS


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