The Lebanese Company for the Development and Reconstruction of the Beirut Central District s.a.l. (Solidere) is a joint-stock company established on May 5, 1994. It is governed by Law 117 of 1991, which regulates the establishment of Lebanese real estate companies aiming at the reconstruction of war-damaged areas, in accordance with an officially approved master plan. Its share capital is US$1.65 billion.
Solidere’s shareholdings in subsidiaries at end 2012 were as follows: Beirut Waterfront Development s.a.l. 50%; Solidere Management Services s.a.l. fully owned; Solidere Management Services s.a.l. (offshore) fully owned; Beirut Hospitality Company sal (Holding) fully owned; BCD Cinemas s.a.l. 40%; Solidere International Holdings s.a.l. (Holding) fully owned; Solidere International Limited, DIFC 39.05%, owned directly and through Solidere International Holdings s.a.l..
Solidere International Limited in turn owns shares in companies involved in several prime real estate projects, notably in the Emirate of Ajman (UAE), in the Kingdom of Saudi Arabia and in Lebanon.