In response to false rumors surrounding their sales, real estate giant Solidere, stated the exact numbers in their books for the public eye.
The company reported selling more than $112 million worth of property in the first two months of 2020. To be exact, it was $112,798,400 as of February 28th, 2020.
That’s just short of half of the entire sales made last year. In 2019, Solidere’s land sales reached a total of $250,122,600.-
According to The Daily Star’s interview with a broker, many people opted to remove money from the banks and buy properties as investments.
The broker told The Daily Star that there has been a “significant demand for Solidere shares” since the Lebanese Revolution. “I am not sure if this trend will continue amid the spread of coronavirus in Lebanon,” he added.