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January-March 2011SOLIDEREQuarterly

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An early attempt for a breakout in the share prices receded as political stalemate in the country, accompanied by regional upheaval, kept most market participants in a wait-and-see mode. Both shares traded within a tight band for most of the quarter, closing with a slight negative note.

Share A fluctuated between a low of US$18.02 and a high of US$20.40, closing at US$18.24, a 1.56% decrease from the previous quarter. Share B traded between a low of US$18.00 and a high of US$20.07, closing at US$18.39, a 1.28% decrease from the previous quarter.

Trading activity doubled during the quarter, with around 4.2 million shares of both classes trading in the local market.

The GDRs traded on the London Stock Exchange closed at around US$18.51, a 3.24% decrease from the previous quarter.

share performance during the 1st quarter 2011

$21

$20

$19

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$17Jan 3 Feb 16 Mar 31

Jan 3 Feb 16 Mar 31

$21

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share Bdaily closing prices

Share price (US dollars) Trading volume

share adaily closing prices

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VoLume

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BUSINESS & fINaNcE

Mina El Hosn towards the sea, announcing the New Waterfront.

aL Zorah resortsAl Zorah Resorts were launched by Solidere International at the ITB Berlin world travel trade show, March 9-11. The Resorts are a prime leisure and tourist destination, part of Al Zorah development on the coastline of Ajman, UAE. Solidere and Solidere International teams contrib-uted the project website, model, video, brochure and technical presentation. alzorah.ae

soLidere reBrandingSolidere engaged in a rebranding exercise and sought design proposals from Louise Cantrill (UK) and Bill Hill Design (US). Louise Cantrill’s design was selected.

conferences / awardsGeneral Manager Mounir Douaidy and his team participated in the Deutsche Bank MENA Equity Conference for ME & Inter-national Investors. Dubai, January 26-27. Solidere was cultural sponsor of ArabNet Shift Digital Summit. Beirut, March 22-25.

At Esri Lebanon’s GIS Day, the Solidere Beirut Souks directory application won one of the three Innovation GIS Awards 2011. The Venue, Beirut Souks, March 24.

Solidere Annual Report 2009 received the iF Label for Outstanding Communication Design. Munich, March 18.

The Laureus Sport for Good Award 2011 was given to May al-Khalil, founder and organizer of Beirut Marathon, February 7.

deVeLopment news388 projects, representing close to 2,961,537 million sq m of built-up area, are in various stages of development.

Status Projects BUa sq m

Completed 262 1,277,553

Under construction 37 325,508

Under restoration 7 19,464

Awaiting permit 24 226,829

Under study 40 743,404

No activity 9 23,201

Sold 9 345,578

Total 388 2,961,537

also see:New Development Supplementsolidere.com/devs/index.php

competitionsFollowing a limited competition for the New Waterfront Park, Solidere reviewed landscape design concepts by Sasaki (US), The Olin Studio (US), Wirtz International (Belgium), LAND (New Zealand), Martha Schwartz Partners (US/UK) and West 8 (Netherlands).

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BUSINESS DElEgaTIoN

Solidere Chairman Nasser Chammaa accompanied his Serene Highness Prince Albert of Monaco on a tour of the city center which included Beirut Souks, New Waterfront, new development areas and archeological sites, January 13-14.

offIcIal vISIT

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DESIgN & STylEcity center

newcomersAl Hakim Antique

Antonio Ben Chimol OOAtabuild Lebanon

Fenicia BankKampaï

Lanvin WomenM.R Design

Magic InMultiple M

Le Patio HotelPegasus

Relais Foch Subway

openingsChanel

Max MaraSantiago

opening soon3ezz Café

Anthony BonjaAntoine Hakim

Art StoneAssayel Event Planner

Baby DiorBaguette

Banque Libano-FrançaiseBarbara Bui

Beyrouth ImmobilierCarmen Steffen

CocteauEuphoria

FransabankGillioni

Isabel Marant Jean Chedid

LonginesMBT

Manasseh JewelryMémoire Bijoux

Qatar National BankRanda Salamoun

Selamlique Siraj Hindi Carpets

Sport et LoisirTapas Bar

Tiffany & CoVan Cleef & Arpels

Vanessa BrunoZougheib Jewelry

Beirut souksopeningsJewelry SoukGC Boutique George Hakim/Alain PhilippeHublot Momo at the SouksOr La Loi

Patriarch HoyekSamsung

opening soonAntoine Wadih SalamounCalvin KleinCoco and CassiaDiadèmeDunkin’ DonutsJoaillerie MoukarzelLe StayMouawad/ChopardMukhi SistersPlanet DiscoveryPomellatoSantiagoSwatchSweet TeaThierry MuglerYeprem JewelryZoughaib Design Jewelry

solidere.com/beirut-souks

fairsBieLIran Fair, January 4-16Wedding Folies, February 3-6Beirut Ready to Wear, February 10-12Horeca, March 29 – April 1

hoteL monroeHire Lebanese, February 24-26Build It Green,March 28-29

dining destinationIn its effort to further enhance the vibrancy in the city center, Solidere is offering high end hospitality services and unique dining concepts. Three exquisite restaurants opened this quarter. café mItalian mozzarella bar and eatery designed by Dada and Associates on Ajami Square with terrace view on Mount Sannine. momo at the souksMoroccan-French fusion restaurant in partnership with Mourad Mazouz, with interior design by Annabel Kassar and garden terrace overlooking Beirut Souks.

reLais fochFrench brasserie designed by Dada and Associates, at theintersection of Saad Zaghloul and Abdel Malak streets.

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other souks eVentsMariachi and mimes, Valentine’s weekend, February 12-13Gemmes boutique gathering, February 17Gypsy musicians from Al Bustan Festival, February 18-21Häagen-Dazs chocolate fondue launch, February 24Samsung opening, March 10GIS Day - Beirut 2011, Souk Arwam Venue, March 23.

The Jewelry Souk was inaugurated on Mother’s Day weekend with luxury and casual jewelry shows. live music entertained the public. March 18-20.

JEwEllEry SoUk oPENINg

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XXXe Salon d’Automne, Nicolas Sursock Museum, continued through January 4

Parcours, Samir Khaddaj, 40 Years of Painting: 1970 – 2010, January 25 – March 12

BEIrUT ExHIBITIoN cENTEr

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arT ScENE

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cUlTUral EvENTS

exhiBitionspièce uniqueCollection de peintures, through January 8Anonymous, Iyad Kanan, January 12-29Haven’t You Seen This Bicycle? photography, Fares Jammal, February 3-19A Panographic Journey, photography, Melkan Bassil, March 30 – April 9.

aida cherfanAccrochage collectif, through February 28Paintings, Catherine Gran, March 11-31.

aLwaneCollective Exhibition, February 1 – April 22.

ayyamMasks, Kings and Other Things Revisited, Oussama Diab, through January 15Venus of the Clouds, Mounzer Kamanakache, January 20 – February 28It’s All About Sama, Mohannad Orabi, March 10 – April 30.

mark hachemHistrionic, Nour El Khazen, through January 4Sculptures and paintings, Sabhan Adam, January 27 – February 20Paintings and lecture, International Woman Day, Mona Trad Dabaji, March 8Poetic Text, Ahmad Moualla, March 15 – April 5.

maqamAl-Burak I, Mohammad-Said Baalbaki, through January 29. q contemporaryThe Architect’s Head, Guillaume Credoz, February 10 – March 3Q Calling the Shots_Vol 2: Narrative Photography, March 3-31.

rochaneSpeaking Hands, Diane Ayoub, March 10-22.

souk an najjarinOriental Dreams, Gérard Avédissian, February 17 – March 12.

Books etc.BooksigningsPièce Unique Haven’t You Seen This Bicycle? Fares Jammal, February 3librairie El Bourj Laurent Corvaisier, illustrator, March 4virgin Megastore Numen Lumen, Roger Achkar, February 16 Feuilles blanches, Marie-Christine Tayah, February 18 Summer Blast, Dania El-Kadi, March 24The Night Counter, Alia Yunis, March 29.

new reLeasesLevant: Splendour and Catastrophe on the Mediterranean Philip Mansel, yale University Press, 2011This book traces the history of Beirut, Smyrna and Alexandria, showing how these port cities flourished as cosmopolitan beacons in the modern age.

Spirit of the Phoenix: Beirut and the Story of LebanonTim llewellynlawrence Hill Books, 2010Drawing on oral history and personal observations, a veteran journalist evokes the dynamism of a resilient people.

The Curtain Maker of Beirut: Conversations with the LebaneseTeresa ThornhillBerkshire academic Press, 2011Through conversations with housewives, intellectuals and fishermen, the author embarks on a quest to understand the diversity of Lebanon.

Zawarib Beirut & Beyond: Road Atlas of Greater BeirutBahi ghubril, Zawarib Sarl, 2010The new edition, based on official and unofficial landmarks, is indispensable to navigating the capital and the coastal sprawl.

Bet You Didn’t Know This About Beirut!warren Singh-Bartlett, Michael karam, 2010Witty anecdotes and clever facts shed light on Lebanese society in this entertaining book with illustrations by Sinan Hallak.

music haLLliban JazzAnneke van Giersbergen and Danny Cavanagh,January 11 Trouble Shootin’, Stefano Di Battista, saxophonist, February 13.

st george cathedraLal Bustan festival Mystery of the East, sacred music concert, Sofia Orthodox Choir, March 22.

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copyright © 2011 solidere

The Lebanese Company for the Development and Reconstruction of Beirut Central District s.a.l.POBox 119493 Beirut 2012 7305 LebanonTel 961 1 980650 - 980660Fax 961 1 980661 - 980662solidere@solidere.com.lbwww.solidere.com

photogrAphers

Mosbah AssiFares JammalMazen JannounDavid Xavier

officiAlsHis Serene Highness Prince Albert of Monaco with an economic delegation of 60 businessmen; European Union ambassador to Lebanon Angelina Eichhorst; Uruguayan Parliament president Ivonne Passada; Monnaie de Paris zone export manager Thomas Jeunet, Marseille general director of heritage Danièle Giraudy (France); UK Trade & Investment Middle East head Paul Taylor with British Embassy head of trade and invest-ment Paul Khawaja; Gülten Günay, wife of Turkish Minister of Tourism Ertuğrul Günay.

business & delegAtionsLeisure Development Partners principals Y. Silvie Coifman and Michael Collins (UK); Renaissance Holding member of the board Kaan Arslan (Turkey); China Harbour Engineering Company CEO Li Guowei with Gulf Chinese Trading Corporation managing director Adnan Dahnous; Visa Internationalgeneral manager Levant Tony Gougassian (UAE); BRC Imagination Arts vice president Christian Lachel, managing director Bart Dohmen and director Brad Shelton; TriHealth senior vice president of quality and chief medical officer Georges Feghali; American Standard Companies, Inc. representatives (US); Festilight consultants Julien Septanil, Alexia Bachelier, Matthiew Colin and David Foissard; Mission Luxe Liban delegates (France); 200 delegates from Arabnet Shift Digital

Summit; Le Gray Hotel general manager Christophe Hazebrouck.

professionAls & AcAdemicsArchitect Massimiliano Fuksas, photographer Gabriele Basilico with assistant Alessandro Ferrario (Italy); architect Goh Chong Chia and his wife (Singapore); archeologist Franck Goddio, architect Edward François, photographer Pierre Giner (France); Färgfabriken project manager Thomas Lundh (Sweden); M.O.O.CON senior consultant Hans-Peter Wunsch (Austria); editor and publisher Philip Jodidio, Zurich University of the Arts professor Dagmar Reichert with 14 students, Swiss Federal Institute of Technology Zürich professor Laurent Stalder (Switzerland) with two architects (Germany); American Bar Association section of international law chair Salli A. Swartz with 15 lawyers (US) and Beirut Bar Association international relations coordinator Joe Karam; UNESCO representatives with a delegation of 120 students from Lebanese schools; AUB vice president Richard Brow.

mediALa Repubblica journalist Giuseppe Corrier and his wife (Italy); Peninsula Press project assistant Claire Vuylsteke (US); Five Stars Tourism chairman Pascale Choueiri Saad with journalist Maha Majzoub.

vISITorS

Monaco delegation with General

Manager Mounir Douaidy.

Uruguay Parliament President

Yvonne Passada with N Rached.

Ambassador Angelina Eichhorst,

AUB Vice President Richard Brow

with AR Solh.

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SOLIDEREQuarterlyJanuary-March 2011

NEW DEVELOPMENTMINA EL HOSN

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MINA EL HOSN IS A PRIME SECTOR WITH A DISTINCTIVE IDENTITY AND MODERN CHARACTER, COMMANDING MOMENTOUS SEA AND MOUNTAIN PANORAMAS.

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MINA EL HOSN OFFERS AN INTERESTING MIX OF OFFICE, RESIDENTIAL, HOTEL AND LEISURE FACILITIES. FAVORED BY TOPOGRAPHY, A BOOMING RESIDENTIAL ACTIVITY EXTENDSFROM WADI ABOU JAMIL NORTH, CASCADING TO SEA LEVEL VIA THE SERAIL CORRIDORAND HOTEL DISTRICT.

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MINA EL HOSN IS ADJACENT TO THE NEW WATERFRONT WITH ITS PARK, PROMENADES, SEA AND MOUNTAIN VIEWS.

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MINA EL HOSN HAS BECOME AN IN DESTINATION WITH ITSHOTELS, ART GALLERIES AND DESIGNER BOUTIQUES.