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April - June 2008
soliderequarterly
business & financial news
CONSOLIDATED BALANCE SHEET
CONSOLIDATED INCOME STATEMENT
December 31,
2007
2006
US$
US$
Assets
Cash and bank balances
327,847,633
Prepayments and other debit balances
34,449,004
Accounts and notes receivable, net
318,734,724
Investment securities
10,063,020
Inventory of land and projects in progress 1,404,710,655
Investment properties, net
150,349,040
Investment in an associate
287,458,659
106,202,604
28,253,397
348,942,550
8,610,673
1,457,804,977
150,651,813
-
Revenues from land and real estate sales
Revenues from rented properties
Revenues from project management
and consulting services
Cost of land and real estate sales
Charges on rented properties
Cost related to project management
and consulting services
Fixed assets, net
Total Assets
26,115,483
2,126,581,497
35,641,877
2,569,254,612
Liabilities
Bank overdrafts and short term facilities
Accounts payable and other liabilities
Dividends payable
Deferred revenues and other
credit balances
Deferred credits under structured contracts
Loans from banks and financial institutions
Total Liabilities
181,186,491
99,357,927
46,212,797
48,362,001
83,323,709
30,877,712
233,147,452
170,280,000
7,041,163
737,225,830
168,305,793
27,062,700
357,931,915
Equity
Issued capital at par value US$10 per share:
100,000,000 class (A) shares
1,000,000,000
65,000,000 class (B) shares
650,000,000
1,650,000,000
Legal reserve
Retained earnings
Cumulative changes in fair value of
available-for-sale securities
Surplus on sale of treasury shares
Less: Treasury shares
Total Equity
Total Liabilities and Equity
75,543,036
263,175,988
1,000,000,000
650,000,000
1,650,000,000
59,935,830
209,685,044
December 31,
CONSOLIDATED FINANCIAL HIGHLIGHTS
2007
2006
2007
2006
US$
US$
US$
US$
288,467,975
20,775,368
253,344,014
20,719,451
187.8
20.8
18.1
153.4
20.7
14.3
690,845
(114,089,596)
(7,070,296)
2,066,977
(114,584,398)
(6,457,583)
(86,127)
(1,831,969)
(Loss)/gain on sale of investment properties
(824,099)
Net revenues from operations
187,864,070
264,974
153,521,466
Share result from an associate
General and administrative expenses
Depreciation of fixed assets
Provision against land development cost
Other taxes
Provision for doubtful receivables
Other expense, net
Interest income
Interest expense
Profit before tax
Income tax expense
68,030,929
(18,086,723)
(1,494,267)
(7,882,327)
(670,059)
(314,962)
(1,854,289)
40,151,525
(15,885,954)
249,857,943
(25,666,091)
(14,304,800)
(1,699,106)
(3,036,061)
(1,319,859)
27,211,687
(7,173,307)
153,200,020
(21,033,071)
Profit for the year
224,191,852
132,166,949
Summary of Operations in US$ million
Net revenues from land, real estate sales
and rental
Gross rental income
General and administrative expenses
Land Sales in US$ million
Gross land sales
Sales backlog
Financial Ratios in %
Return (interest income) on liquid assets
Debt to equity
288.5
914.1
255.2
1,196.0
5.5
0.38
5.86
1.57
1.4450
0.8375
Volume
942,275
$40
500,000
400,000
300,000
$30
200,000
$25
100,000
0
$20
1 Apr 08
30 Apr 08
30 May 08
30 June 08
Share B - Daily Closing Prices
Volume
500,000
$40
400,000
$35
300,000
$30
200,000
$25
100,000
0
$20
1 Apr 08
30 Apr 08
Share price (US dollars)
Trading volume
2
General manager Mounir
Douaidy addressed the 16th
Arab Economic Forum, held
in Beirut May 2 - 3. He spoke
of the Beirut city center
development that has earned
it a worldwide reputation,
leading to the creation of
Solidere International.
Reporting on Solidere’s
sustained good performance,
he remarked that the
expected profits of Solidere
International are bound to
enhance this performance
and have a positive impact
on Solidere share values.
Share performance during the 2nd quarter 2008
$35
147,492
38,760
11,653,751
11,653,751
(168,491,485) (162,663,803)
1,832,028,782 1,768,649,582
2,569,254,612 2,126,581,497
Conferences
Among the latest Solidere
land sales, Beirut Harbor
s.a.l. purchased in the last
quarter a land parcel on lot
1504 Marfaa.
The development land
covers an area of
1,137 sq m. It will be used
for a residential or office
development with retail on
street level, totaling
5,186 sq m of built-up area.
Share A - Daily Closing Prices
Basic/diluted earnings per share
Development land sales
30 May 08
30 June 08
The Lebanese market as a
whole proved to be the best
performer in the region
after the election of a new
president by end of May.
Most listed shares shot
upwards to unchartered
territories on high volume.
Solidere shares were the
most affected by that
positive mood, both classes
of shares jumping to new
heights, with the mood
remaining bullish for the
foreseeable future.
Share A fluctuated during
the quarter between a low
of US$21.97 and a high of
US$37.82. The closing price
was US$37.17, a 69%
increase from the previous
quarter.
Share B traded between a
low of US$21.99 and a high
of US$37.71, closing at
US$37.2, a 69% increase
from the previous quarter.
Trading activity boomed
during the quarter, with
around 13 million shares
of both classes traded in
the local market, a twofold
increase compared to the
previous quarter.
The GDRs traded in the
London Stock Exchange
followed the locally traded
shares, closing the quarter
at around US$36.99, a 67%
increase from the previous
quarter closing level.
3
al zorah launching
Supreme Council and Ruler of
Ajman, Al Zorah aims to
transform the emirate into a
world class residential, tourism
and investment destination.
A VIP groundbreaking ceremony
unveiled Al Zorah on May 1, 2008.
The AED 220 billion project is
a joint venture between the
Government of Ajman and
Solidere International Limited.
Al Zorah Development (Private)
Company P.S.C. was
incorporated as a Free Zone
Company under the laws of
Ajman on October 31, 2007.
In line with the vision of
HH Sheikh Humaid Bin Rashid
Al Noaimi, member of the UAE
“
Dr Nasser Chammaa
Chairman and CEO
Solidere International
”
Al Zorah Development Company
was present at Cityscape Abu
Dhabi held May 14-16. On this
occasion, the company announced
pre-sales of AED10 billion,
representing the first wave of
sales for Al Zorah Project. The
overwhelming interest in the
project came during the two week
pre-launch sales process, which
ended May 7.
“
Solidere International Chairman
and CEO Nasser Chammaa
commented on how SI, in all its
developments, is committed to
working within the context and
building on the strengths of a
particular environment, be it
natural or urban.
“
5
Al Zorah has arrived at
the right time, from the right
place. The level of interest in
the project shows investors are
excited about the concept and
master plan for this new
mixed-use urban community
of around 200,000 people.
”
Al Zorah is a milestone
for Ajman, reflecting the
combination of tradition and
innovation that distinguishes
the emirate… It is a truly
spectacular project that will
become an international
destination.
”
3
“
The city will promote
conservation and outdoor life
by providing an integrated
network of walkways, canals,
waterways, bicycle paths and
public transport facilities,
jogging tracks and equestrian
center. It will make Ajman the
best place to live and work
comfortably, in close proximity
to the major hubs and
gateways in the UAE.
”
“
Al Zorah will be a sustainable
city in all respects, adopting best
practices in environmentally
friendly construction and living.
Developers will conform to the
master plan, leaving the natural
beauty of the project location
unharmed and employing energyefficient construction methods
as well as materials.
Imad Dana
”
1. Sheikh Humaid Bin Rashid Al Noaimi with
Lebanon public works minister Mohamad
Safadi, Sheikh Rashid Bin Humaid
Al Noaimi, chairman Nasser Chammaa and
vice-chairman Nabil Boustany.
2. Sheikh Rashid Bin Humaid Al Noaimi and
Dr Chammaa.
3. Imad Dana being interviewed by television.
4,7. Al Zorah at Cityscape Abu Dhabi.
5. Mr. Fahd Hariri with Mounib Hammoud.
6. TNI chairman Abdallah Mazrui with
Mounib Hammoud.
Dr Nasser Chammaa
Chairman and CEO
Solidere International
Sheikh Rashid Bin Humaid Al Noaimi
Chairman
Al Zorah Development Company
“
6
The success of our presales
is the strongest endorsement
for the project. Al Zorah will be
a unique accomplishment that
embodies Ajman’s vision for
the future and Solidere’s
international capabilities.
Mounib Hammoud
COO
Solidere International
Al Zorah presents a unique
opportunity and is a project
that will benefit from Solidere’s
city-making development
approach, as well as Ajman’s
business-friendly policies and
varied innovations.
Imad Dana
CEO
Al Zorah Development Company
4
Cityscape Abu Dhabi
4
Located along Ajman’s pristine
beachfront and creeks,
Al Zorah will be a selfcontained, master planned city
with varied residential, office,
retail, school, hospital and
leisure facilities, including
marinas and a number
of 5-star resort hotels.
2
Al Zorah is an ambitious,
transformational project that
will contribute to the further
development of Ajman as one
of the most sought after places
to live and work in the region,
while ensuring the conservation
of its nature for future
generations. It is thus well
suited to the Solidere
community-focused
development approach.
1
”
7
Al Zorah in Europe
Both Solidere International and
Al Zorah were present at Expo
Italia Real Estate, held in Milan
June 10-13, 2008. They participated
in the exhibition by displaying the
Al Zorah site, master plan, model
and marketing brochure to
an international audience.
On June 12, Rami Dabbas,
head of Ajman Real Estate
Development and Investment
Authority and board member
of Al Zorah Development
Company, gave an address on
Ajman, Present and Future
Prospects: Real Estate
Developments and
Sustainable Growth.
5
solidere international news
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RESTORED BUILDING
PUBLIC OR RELIGIOUS BUILDING
ARCHEOLOGICAL SITE
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ARCHEOLOGICAL SITE
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ANCIENT TELL
PHOENICIAN CITY WALL (GLACIS)
PETIT SERAIL
MARTYRS' STATUE
UFA OFFICE BUILDING
VIRGIN MEGASTORE BUILDING
AMIR ASSAF MOSQUE
ETOILE SQUARE
ST ELIAS GREEK-CATHOLIC CHURCH
NOURIYEH CHAPEL
ST GEORGE GREEK-ORTHODOX CATHEDRAL
PARLIAMENT
DEPUTIES' OFFICES
GRAND THEATRE
ST GEORGE MARONITE CATHEDRAL
MOHAMMAD AL AMIN MOSQUE
SAIFI VILLAGE
RIAD EL SOLH SQUARE
ASSEILY BUILDING
ARAB BANK BUILDING
CENTRAL POST OFFICE
PAN AM BUILDING
SHAKER-OUEINI BUILDING
NATIONAL EVANGELICAL CHRUCH
ST NISHAN ARMENIAN ORTHODOX CHURCH
THE GRAND SERAIL
ROMAN BATHS
MEDITERRANEAN AROMATIC HERBS GARDEN
OTTOMAN MILITARY HOSPITAL (CDR)
OTTOMAN CLOCK TOWER
MAGHEN ABRAHAM SYNAGOGUE
ST LOUIS CAPUCHIN CHURCH
BAB IDRISS OLD GATE
AMIR MUNZER MOSQUE
AL OMARI MOSQUE
MUNICIPALITY OF BEIRUT
ABOU BAKER (DABBAGHA) MOSQUE
BAB EL SARAY GARDEN
ANCIENT TELL
PHOENICIAN CITY WALL (GLACIS)
PETIT SERAIL
MARTYRS' STATUE
UFA OFFICE BUILDING
VIRGIN MEGASTORE BUILDING
AMIR ASSAF MOSQUE
ETOILE SQUARE
ST ELIAS GREEK-CATHOLIC CHURCH
NOURIYEH CHAPEL
ST GEORGE GREEK-ORTHODOX CATHEDRAL
PARLIAMENT
DEPUTIES' OFFICES
GRAND THEATRE
ST GEORGE MARONITE CATHEDRAL
MOHAMMAD AL AMIN MOSQUE
SAIFI VILLAGE
RIAD EL SOLH SQUARE
ASSEILY BUILDING
ARAB BANK BUILDING
CENTRAL POST OFFICE
PAN AM BUILDING
SHAKER-OUEINI BUILDING
NATIONAL EVANGELICAL CHRUCH
ST NISHAN ARMENIAN ORTHODOX CHURCH
THE GRAND SERAIL
ROMAN BATHS
MEDITERRANEAN AROMATIC HERBS GARDEN
OTTOMAN MILITARY HOSPITAL (CDR)
OTTOMAN CLOCK TOWER
MAGHEN ABRAHAM SYNAGOGUE
ST LOUIS CAPUCHIN CHURCH
BAB IDRISS OLD GATE
AMIR MUNZER MOSQUE
AL OMARI MOSQUE
MUNICIPALITY OF BEIRUT
ABOU BAKER (DABBAGHA) MOSQUE
BAB EL SARAY GARDEN
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PUBLIC OR RELIGIOUS BUILDING
ARCHEOLOGICAL SITE
PEDESTRIAN STREET / LINK
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BEIRUT CITY CENTER HERITAGE
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ANCIENT TELL
PHOENICIAN CITY WALL (GLACIS)
PETIT SERAIL
MARTYRS' STATUE
UFA OFFICE BUILDING
VIRGIN MEGASTORE BUILDING
AMIR ASSAF MOSQUE
ETOILE SQUARE
ST ELIAS GREEK-CATHOLIC CHURCH
NOURIYEH CHAPEL
ST GEORGE GREEK-ORTHODOX CATHEDRAL
PARLIAMENT
DEPUTIES' OFFICES
GRAND THEATRE
ST GEORGE MARONITE CATHEDRAL
MOHAMMAD AL AMIN MOSQUE
SAIFI VILLAGE
RIAD EL SOLH SQUARE
ASSEILY BUILDING
ARAB BANK BUILDING
CENTRAL POST OFFICE
PAN AM BUILDING
SHAKER-OUEINI BUILDING
NATIONAL EVANGELICAL CHRUCH
ST NISHAN ARMENIAN ORTHODOX CHURCH
THE GRAND SERAIL
ROMAN BATHS
MEDITERRANEAN AROMATIC HERBS GARDEN
OTTOMAN MILITARY HOSPITAL (CDR)
OTTOMAN CLOCK TOWER
MAGHEN ABRAHAM SYNAGOGUE
ST LOUIS CAPUCHIN CHURCH
BAB IDRISS OLD GATE
AMIR MUNZER MOSQUE
AL OMARI MOSQUE
MUNICIPALITY OF BEIRUT
ABOU BAKER (DABBAGHA) MOSQUE
BAB EL SARAY GARDEN
1. HRH Prince Khaled
Al-Faisal presents
Solidere with the
Sponsor Trophy, in
the presence of HRH
Prince Sultan Bin
Salman and Dr. Othman.
2. One of the Solidere
panels at the exhibition.
In Beirut city center, some 900 buildings, many in a dangerous and dilapidated state, survived the war. Of these,
291 buildings, 35% of the fabric, were salvaged; 180 are of significant historic value, including 26 religious and
government buildings. The historic core is defined by group value to include 111 such buildings. With its high
quality restoration, the city center is the place where heritage has been preserved.
Roof
4th Floor
3rd Floor
2nd Floor
1st Floor
Ground Floor
Lot 131 Marfaa South elevation before and after restoration
Solidere International annual general meeting
Cairo projects
During the last five months of the year 2007, Solidere
International (SI) realized US$49 million in profit.
Detailed master plans of
both Westown and Eastown
have been completed ahead
of schedule. The two projects
have hired the services of
internationally renowned
architects.
Presided over by Chairman and CEO Nasser Chammaa, the first
annual general meeting of Solidere International, held in Dubai
on June 18, 2008, took the following resolutions:
To approve the audited standalone and consolidated annual
accounts and financial statements of the Company for the period
from the date of its incorporation to December 31, 2007;
To grant the Directors a release for their management duties
for the period from the date of incorporation of the Company
to December 31, 2007;
To re-appoint Deloitte and Touche and Ernst and Young as
auditors of the Company to hold office from the conclusion
of this Annual General Meeting to the conclusion of the next
Annual General Meeting and to authorize the Board of Directors
to determine the remuneration of the auditors.
6
1st Basement
Urban Heritage exhibition
2nd Basement
3rd Basement
Lot 131 Marfaa ground floor plan before and after restoration
INTEGRATING
HISTORIC
FRONTS AND
MODERN
INTERIORS
The external
envelope was
kept and
reinforced by
steel bracing, and
new functional
core was rebuilt
from scratch.
Solidere International has
also exercised its options in
the Westown project, where
several parties have already
shown great interest in
buying and developing
property. A major launch of
the project is scheduled for
September 2008.
CONTEXTUAL
INFILL
Each elevation
of the Atrium
building mirrors
the adjoining
street character.
2
The Prince Sultan Bin Salman Award
for Urban Heritage conference and
exhibition were held June 24 -26
in Jeddah. Organized by Al-Turath
Foundation, headed by Dr. Zahir
Othman, the award aims to raise
public awareness of traditional
urban heritage and its role in future
development.
Farid Nehme, chief operating manager
at Solidere Saudi Arabia, received
from HRH Prince Khaled Al-Faisal Bin
Abdulaziz the Sponsor Trophy for its
participation in this event.
A presentation and a set of panels
highlighted Solidere's rich experience
in the area of heritage preservation.
7
the new city center
1
2
3
1. Souks of Beirut rooftops.
2. Four Seasons Hotel and
Marina Towers residential
development.
3. Reconstitued traditional
façade, private residence
in Zokak El Blatt.
4. Eclectic architecture:
traditional, Daouk building;
modern, Starco commercial
center; contemporary, Bank
Audi headquarters and Beirut
Tower in the background.
5. Restored to its original
architecture, lot 799 Mina
El Hosn residential building.
6. Infill building in the
Conservation Area, Foch 126.
4
Beirut Souks
Newcomers
In Beirut Souks, auberginecolor shingles, chevron
cladding and skylights mark
the finishing touches of the
Souks core, designed by
Rafael Moneo.
Embassies
The Danish Embassy moved
on June 9 into Solidere's
embassy compound in Zokak
El Blatt. Soon to follow will be
the Norwegian embassy, with
an expected move-in date of
mid August.
Together with Moneo’s block
M office building and Kevin
Dash’s Jewelers’ block, they
constitute the South Souks,
expected to be functional
beginning 2009.
Retail
Bonja watches and jewelry
Geisha restaurant
Solidere BBN network
Project completion
Solidere has successfully
launched its IPTV Service
(TV service over Internet
Protocol) to all residents of
Beirut city center.
In the city center, 373 projects
offering 2.735 million sq m of
built-up area have so far been
the subject of development.
Of the 147 new construction
projects with 2.09 million sq m
of built-up area:
Users will be able to receive
services such as TV, VOD
(Video On Demand), gaming
and closed circuit advertizing.
8
5
Projects
47
17
13
70
BUA sq m
291,325
340,262
164,624
1,300,160
6
Status
Completed
Finishing stage
Under construction
At various stages
9
the soul of beirut
Beirut lives on
Beatification
As the country reached an
easing of recent political
deadlock, the city center
became the scene of massive
celebrations; from concerts by
star singers and live television
broadcasts, to spontaneous
bursts of revelry.
The beatification ceremony for
Father Yaacoub was presided
over by HE reverend cardinal
Jose Saraïva Martin, with the
participation of Patriarch Mar
Nasrallah Boutros Sfeir.
Martyrs’ Square, June 22.
In a short time, businesses
and restaurants reopened and
welcomed old and new
customers. Once again, Beirut
proves that its heart never
stops beating.
Samir Kassir
Revival concerts
April 13 commemoration
Other events
Sports
A ceremony in memory of Samir
Kassir was held on June 1 in the
garden named after him. Walid
Hourani played piano pieces
from Tchaikovski, Chopin,
Scarlatti, and Liszt.
Melhem Barakat, sponsored
by BankMed and Medgulf,
Martyrs’ Square, May 26.
Olive tree planting
Organized by the Offre Joie
NGO in Hadiqat as-Samah
as a symbol of peace and
reconciliation, at the end of a
march to which all Lebanese
were invited, April 13.
Reforestation campaign,
organized by Getaway Ltd,
Press Club, May 31.
Vivicitta, Run for Peace, city
center marathon sponsored by
HSBC. Winners of 21 km race:
men, Chomiyeh Elimayo,
women, Marie Debaba, both
from Ethiopia; wheelchair
race, Mohamad Rachad Hajjaj,
from Egypt. Students, families
and others took part in the
5 km fun race, June 1.
Beirut Wassat al Noujoum,
concert, sponsored by
BankMed and Medgulf,
Martyrs’ Square, May 27 - 30.
MBC television, Al Aarab live,
Roman Baths, May 30.
Television broadcasting,
Kalam Al Naas program:
Moutrane Street, May 22.
Majida El Roumi, Martyrs’
Square, sponsored by
BankMed and Medgulf, June 1.
Beat of the Nation, three
popular music concerts,
Virgin Megastore, June 6 - 8.
10
The beatification was the
occasion for recitals by
Pascale Sakr and Abir Nehme,
St Louis Capuchin church,
June 7 and 20.
On Journée Mondiale de
l’Environnement, the Green
Garden Group planted an olive
tree in the Hadiqat as-Samah,
June 5.
Open-air installation
Haven’t 15 years of hiding
in the toilets been enough?
by Nada Sehnaoui - discussions,
music and poetry, memories
from everyday life during the
civil war, April 13 - 26.
Red Cross Day presentation
and event, Ceramic Lounge,
June 1.
Euro Cup 2008 football
matches were seen by crowds
on a large screen installed in
Maarad street, June 9 - 17.
Kermesse by Amis Solidaires
Grand Lycée Franco-Libanais,
BIEL, June 22.
Autism Day, by the Lebanese
autism society, BIEL, June 14.
Basketball finals, Saifi Village,
June 1.
Bike Gymkhana, Foch, June 1
Paper rally on bikes, Scouts of
Lebanon, June 8.
performing arts
Fête de la musique
On June 21, Beirut and its city
center celebrated as usual the
traditional Fête de la Musique.
This event, which originated
in France in 1982, has spread
worldwide to become World
Music Day.
Many amateur and professional
musicians from Lebanon and
abroad brought their music
to Beirut city center for the
enjoyment of all. Open air
concerts were held in Samir
Kassir Garden and at the
Roman Baths, while solo
musicians played in the Maarad
and Foch-Allenby area. Indoors
concerts were performed in the
Evangelical church.
Samir Kassir Garden
Miriane Zgheib, French songs
Tony Bayeh, Oriental songs
by Zaki Nassif
Ramcess, rap/reggae
Microbe Crew, rap
Hedne, Oriental
Mia Habis, French songs
Mashrou’a Leila, jazz
The Blue Label, jazz
Anne Steenkamp, rock/grunge
Escape, rock
Vibrations, alternative rock
The Crave, alternative rock.
Nejmeh Square
Capoiera Sobreviventes
Khat Ahmar, rap
Karimbo, rap
Oxygene, rap
Bicro-phone, rap
Rama’s Whisper, guitar
Tahet Ta’et el Mass’oulié, rap
Kristen Hope, rap
Solo musicians.
Evangelical Church
Classical music concert by
Ghassan Yamine music school.
Roman Baths
Youmna Saba, Oriental sounds
Raya Hillal, music variety
Champlain, French songs
Ashek’man, rap
Ramez, rap
Katibe 5, rap
Doshka, electro-Oriental
Meen, Lebanese rock
Ziad Saad, pop rock
961 crew, rap
I-Voice, rap
Joe Youssef, Arabic pop.
Music and theater
BIEL
David and Cathy Guetta, concert,
April 12.
Ferry Corsten, DJ concert, May 2.
DJ John Digweed, May 24.
Music Hall
Liban Jazz with Elizabeth
Kontamanou, April 27.
Bernard Lavilliers concert, May 11.
Ours, alias Charles Souchon,
concert, May 25.
Liban World concert Roberto
Fonseca, June 3.
Other
The Middle Beast, play by
Joe Kodeih, Monroe Hotel,
April 1 – 30.
Le nuage d’eau et d’air, theater
for children by La Nuvole, Planet
Discovery, April 24 – 26.
Music album signing,
Ave Maria by Ghada Ghanem,
Virgin Megastore Juin 29.
12
13
cultural activities
1
5
Quartier des Arts
Galerie Alwane
Fatima el-Hajj, May 2-17.
Hassan Jouni, June 13-28.
La Posta
J’aime mon Liban, artisan
work by Maria Arida, Zeina
Abillama and Marilyn
Massoud, May 1–10.
Pièce Unique
A window to the Netherlands,
photographs by Erik Franssen,
84 slides presented by William
Engelen, who also composed
music performed by young
Lebanese musicians played
in the garden, June 17 - 30.
2
1. Jasenka Tucan-Vaillant
2. Hussein Madi
3. Live Debris
4. Aïshti fashion show
5. Hassan Jouni
6. Fatima Hajj
7. Javier Reverte
6
Aida Cherfane
Ali Chams paintings,
April 11 - May 2.
Omaggio alla Donna,
Hussein Madi,
May 23 - June 13.
Planet Discovery
Home Works IV forum on
cultural practices in Beirut,
organized by Ashkal Alwan,
Lebanese Association for
Plastic Arts, April 12-20.
Signs of conflict, political
posters of Lebanon’s civil war
1975-1990, Zeina Maasri,
April 12 – May 1.
Fashion
Biodiversité science exhibition,
National Council of Scientific
Research, with Yann ArthusBertrand wildlife photography,
April 15 – May 15.
Live Debris, Taylor Stevenson
exhibition and workshop on
international re-use art
techniques, Souk al Tayeb,
May 3.
Carnets de voyages, Jasenka
Tucan-Vaillant tapestry,
sculpture and Japanese
papers, under the patronage
of French ambassador, André
Parent, May 16 - 31.
Fashion show, Aïshti,
Moutrane street, May 6.
14
3
4
7
Books, lectures etc.
BIEL
El Bourj bookstore
Story telling for children by
Nisrine Ojeil, April 12.
Instituto Cervantes
Voyager pour écrire, lecture by
writer Javier Reverte, April 15.
Go Forward,
recruitment fair,
April 17-20.
Le Liban autrement, book
signing, guidebook and
exhibition of photographs by
Cherine Yazbeck, May 17.
Lecture by writer Alberto Ruy
Sanchez, April 22.
Project Lebanon,
June 3-7.
End of season celebration,
musical performance and
dancing, Maarad street, June 27.
Horeca Lebanon,
June 23-27.
Political Parties and the State
in Lebanon (in Arabic),Book
signing, by Nassim Daher,
June 12.
Souk Al Tayeb
Kids’ books, April 26.
15
in and about the city center
1
Beirut in the world
East Mediterranean yacht rally
26 catamarine yachts sailed into
Beirut Marina as part of the East
Mediterranean yacht rally, June 1.
1. Nigerian
ambassador
Hameed Opeloyeru.
2. Vice president
James Hickson
with a Morgan
Stanley delegation.
Arabic Graphics
This exhibition of the work of
award-winning graphic designer
Tarek Atrissi took place at the
Levant Foundation, Amsterdam,
May 7 – June 22.
Atrissi has worked with Solidere
on the corporate and visual
identity of Al Zorah Project,
jointly planned and developed
by the government of Ajman and
Solidere International.
Beirut world capital
Beirut has been nominated by
UNESCO as World Book Capital
2009. The Lebanese capital was
chosen among four candidates:
Bangkok, Thailand; Cape Town,
South Africa and Kazan, Russian
Federation.
Beirut was selected in the light
of its focus on cultural diversity,
dialogue and tolerance, and for
its varied and stimulating
programs.
Visitors
The events to be held on this
occasion in 2009 were presented
on April 15 by culture minister
Tarek Mitri in a press conference
at the London Book Fair.
Official visitors
Nigerian ambassador Hameed
Opeloyeru, with Anthony Busah,
minister and head of chancery,
Nigerian Embassy.
Business
James Hickson, vice-president
Morgan Stanley, Saudi Arabia,
with a delegation; Aidroo H
Al Esayi, Saudi Real Estate and
Investment Company; Melanie
Robert, sales and leasing
executive, Aswaq Management
and Services, Abu Dhabi;
Michael Schmid, managing
director, Kieback and Peter,
Germany, with Thomas Kabelitz,
export manager, and five
representatives; Robert Uthwatt,
project management, COWI A/S
Dubai; Jorgen Juhl, chief project
manager, COWI A/S, Denmark;
Ghada Kamal, SODIC, Egypt; 15
representatives from French
construction companies.
16
Professionals and academics
Simon Platt, Tim Makower and
Eric Martin, Allies & Morrison
Architects, UK; Guerric Pere,
general director, and Gabriel
Quentin, project chief, Ilex
paysage-urbanisme, France;
Houssam Al Karim and Zouheir
Bakhit, HAK architecture, Saudi
Arabia; John Pegg, Craft: pegg
architecture landscape, UK;
Dieter Wellmann, senior
associate, Chris Blandford
Associates; landscape
architects Daniel Day Miller,
UK, and Michele Wurm,
USA/UK; Lebanese University
students.
The Lebanese Company for the Development and Reconstruction of Beirut Central District s.a.l.,
POBox 119493 Beirut 2012 7305 Lebanon, Tel 961 1 980650 / 980660, Fax 961 1 980661 / 980662, solidere@solidere.com.lb, www.solidere.com
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