What private real estate joint-stock company was incorporated in 1994 to reconstruct and develop the Beirut Central District following the civil war?
Answer and explanation
Correct answer: B. Solidere (Société Libanaise pour le Développement et la Reconstruction de Beyrouth)
- Step 1: Solidere was established under the leadership of Prime Minister Rafic Hariri pursuant to Law 117.
- Step 2: It expropriated war-damaged land plots in downtown Beirut in exchange for company shares to redevelop the historic core.
Answer
Solidere (Société Libanaise pour le Développement et la Reconstruction de Beyrouth).
Why not the others: 'Beirut Waterfront Development' operates Zaitunay Bay; 'Linord' was a planned northern coastal reclamation project; 'Elyssar' was an agency for the southwestern suburbs.
Practise more Economy, Banking, Infrastructure, and Trade.
Free questions with an explanation for every one, and full timed General Knowledge (Lebanon) mock tests.
More Economy, Banking, Infrastructure, and Trade questions
- What is the central bank of the Lebanese Republic, established pursuant to the Code of Money and Credit in 1963?
- What is the statutory basic currency unit of Lebanon?
- What landmark statute enacted in 1956 became the cornerstone of Lebanon's banking sector growth by legally guaranteeing account confidential…
- What regulatory body established within Banque du Liban conducts prudential supervision and audits of commercial banking institutions?
- What major Lebanese commercial bank collapsed in October 1966, triggering the restructuring of the national banking regulatory framework?
- What official exchange rate pegged the Lebanese Pound to the US dollar from December 1997 until the financial restructuring of 2023?