Solidere Stocks At Highest Point In Over A Decade

Solidere Stocks At Highest Point In Over A Decade
Bloomberg/Hasan Shaaban

Since Lebanon’s economy began to go into a nosedive in 2019, Solidere‘s stocks have been on a steady rise that has exceeded 300%.

The economic crisis and its freezing effect on bank deposits have caused many people to seek refuge in real estate as a way to unchain their bank accounts and make use of their locked deposits.

This attraction to real estate gave the shares of Lebanese property company Solidere a boost that it had not seen in over a decade.

After having garnered a net profit of $49 million in 2019, Solidere A and Solidere B shares soared to around $15 in July 2020, a figure the company had not recorded for years.

These shares continued to climb over the following months, hitting $16.4 (A) and $16.5 (B) by the end of the year.

Around 3 months later, today, Solidere‘s stocks have soared even higher. As of the time of writing, Solidere A sits at $25 while Solidere B is at $24.30, according to Beirut Stock Exchange.

The joint-stock company, which was established in the ’90s with the aim of planning and redeveloping post-civil-war Beirut’s central district, has seen a significant increase in land sales over the past year and a half.

The real estate demand in Lebanon has been attributed to the lack of investments alternatives amid the crises infesting the country.


Our team works tirelessly to ensure Lebanese people have a reliable alternative to the politically-backed media outlets with their heavily-funded and dangerous propaganda machines. We've been detained, faced nonstop cyber attacks, censorship, attempted kidnapping, physical intimidation, and frivolous lawsuits draining our resources. Financial support from our readers keeps us fighting on your behalf. If you are financially able, please consider supporting The961's work. Support The961. Make a contribution now.

Solidere Stocks At Highest Point In Over A Decade

Share this article with your friends!

Not now
Share via
Don\'t Miss Out!