1 quarterly October-December 2011 Business & finance

city center eastern entrance

al zorah resorts We are honoured to partner with the beirut city center development news solidere sales conferences Al Zorah Development Company, a joint venture Government“ of Ajman for this prestigious A total of 395 projects, representing close to 3,003,229 million One development lot in Sector D Solidere participated in equity investor of Solidere International and the Government project which will have long-term economic sq m of built-up area, are in various stages of development. was sold by Solidere in the last conferences: Bank of America Merrill Lynch of Ajman, presented Al Zorah Resorts project on benefits for the Emirate. Our focus is on rolling STATUS PROJECTS BUA SQ M quarter. Block 149, Plot 1, cover- fourth Annual MENA Conference, Dubai, December 7, covering 5.4 million sq m of land. out a world-class tourism and hospitality des- Completed 268 1,349,800 ing a land area of 1,922 sq m, was October 26-27; Credit Suisse MENA Confer- The development is envisaged to become a hub tination while also offering an unprecedented Under restoration 6 12,543 purchased by Park View Residences ence, Beirut, Novembre 2-3; EFG Hermes for hospitality and tourism. Set on the coastline lifestyle experience for our customers. The sea- Under construction 38 291,137 SAL to be developed into a residen- MENA Conference, London/New York, of Ajman, Al Zorah Resorts stretch along a 12 km front homes, hotels and golf course will become Awaiting permit 16 132,320 tial building totaling 11,102 sq m November 14-18. waterfront. White sandy beaches, mangrove the new benchmark in luxury development not Under study 45 798,394 of floor area. forests, water canals and creek holes will charm just in Ajman but across the region. No activity 9 23,201 Urban design and master planning depart- regional and international tourists. ment manager Bachir Moujaes participated Nasser Chammaa ” Awaiting submission 13 395,834 in the New Urban Topologies seminar orga- Chairman and CEO, Solidere International TOTAL 395 3,003,229 Al Zorah master plan and components, as well as nized by the Swedish Institute of Alexandria the progress achieved in the project development, and Färgfabriken, a Swedish interdisciplin- were announced at an on-site press conference ary foundation combining art, architecture in the presence of HH Sheikh Rashid Bin Humeid and urbanism. Alexandria, October 23-25. Al Nuaimi, Chairman of Al Zorah Development Company, and Dr. Nasser Chammaa, Chairman al zorah resorts master plan and CEO of Solidere International, accompanied Share performance - 4th quarter 2011 by senior officials from the Ajman Government, SHARE A | Daily Closing Prices Al Zorah Development Company and SI. PRICE VOLUME Solidere shares remained under pressure during the quarter, albeit on 119,148 114,152 103,644 lower volume, as the local political situation dampened the mood in the $17 100,000 Five districts are to be developed in four phases: local market. This came in spite of some positive news from the Company City Center with its hotels, offices, retail centers, City Center $16 75,000 that recorded major land sales during the quarter. A tentative push around marinas and large public square; Parkland Resorts, $15 50,000 the beginning of December, triggered by some positive reports from the a community of six beachfront hotels and creek- Government, quickly fizzled down as tensions within the Government $14 25,000 side residences complemented by a 1.6 km stretch continued to affect the markets in general. $13 0 of sandy beach and 2 km lagoon frontage; the Corniche Village Gateway 18-hole championship Golf Course; Gateway high- October 3 November 16 December 31 Share A fluctuated between a low of US$13.40 and a high of US$16.45, rise mixed-use community; and Corniche Village, closing the quarter at US$14.38, a 5.27% decrease from the previous quarter. with villas and townhomes that overlook the sea. SHARE B | Daily Closing Prices PRICE VOLUME Share B traded between a low of US$13.11 and a high of US$16.28, closing The master plan has been revised: 70% of the at US$14.50, a 3.71% decrease from the previous quarter. $17 100,000 land area dedicated to resorts or tourism-related entities, 40% to residences or mixed-use plots, $16 75,000 Trading activity decreased as well during this quarter, with around 2.2 million shares of both classes trading in the local market. 7% to offices, with 6% to retail. The phase one $15 50,000 of the project to be completed in 2014, includes: $14 25,000 upscale 160-room 5-star resort; 300-room midscale GDRs traded on the London Stock Exchange closed at around US$14.29, 5-star hotel; 180-room Tourist Village; 50-room $13 0 a 4.98% decrease from the previous quarter. Parkland Resort Golf Course Beachside Village; and the Golf Course; all de- October 3 November 16 December 31 signed by international architects. Share price (US dollars) Trading volume 4 wadi abou jamil 6 Open space

geBran tueni garDen A commemorative garden was Beirut All Saints Jean-Paul II Ottoman Marina Square Square Wall inaugurated in the presence of officials and family members, designed by Vladimir Djurovic the garden is planted with olive trees Beirut Zeitouneh Shoreline Santiyeh symbolizing peace and wisdom, with Corniche Square Gardens Garden quotes of Gebran Tueni carved into the granite and backlit, December 16

shOreline walk awarDeD at waf marathOn sunDays The Shoreline Walk designed by Gustafson Porter was awarded the Future Beirut marathOn Projects (Landscape). World Architecture Festival, Barcelona, November 2011. The nineth BLOM Beirut Marathon The walk is a sequence of five connected spaces. Placed between the medi- on November 27 consisted of a eval street layout and the engineered grid of the new land-filled area. 42.2km run, a wheelchair marathon, a relay marathon, a 10km fun run, a A continuous white limestone line marks the ground and a pedestrian prom- kids 5km run and a 1km mums and enade links the five open spaces and re-establishes an East-West connective buggies run. Participants ended the spine between the new grid places. The promenade is also inspired by the race at Marathon Village on Martyrs’ historic ‘Beirut Corniche’, with a flow of walkers, joggers, cyclists and bread Square. The marathon, IAAF Bronze sellers; the Shoreline Walk will reconnect and continue it. Label Road Race, attracted star ath- letes with impressive track records. A combination of pavement and plants with lighting and water features en- hances the promenade within the urban context. To the south, light colored i run Beirut paving and trees signify ‘dry land’, as it existed before the war. To the north, A 5km race organized by the United open areas of dark granite, boardwalks and timber pergolas, water features Sports of and sponsored and rainfall mark the sea’s previous position. by Nike, October 23

All Saints Square is treated as an intimate, self contained space creating a ha- ven of textures infused with the summer jasmine aroma. Shoreline Gardens, art & archeOlOgy site of the historic ‘Avenue des Français’, provide a contemporary prom- The Bab Idriss Square fountain and enade. A long linear water feature and pergola unify the space as a meeting Medieval Moat Bridge are among point. To the south, Zeitouneh Square now opened to the public, provides a several very interesting features in key link to the city. It celebrates a modern Beirut and is a place for cultural Beirut Souks open spaces. events. Santiyeh Garden, an ancient cemetery site, surrounded by buildings on all sides, provides the perfect setting for a green and contemplative oasis.

A later phase, starting with Jean-Paul II Square, will prolong the walk into the Ottoman Wall site, in the New Waterfront District.

Architect Civil Engineer Water Features GUSTAFSON PORTER, UK BECT FOUNTAIN WORKSHOP, UK

Local Architect Lighting Consultant IMAD GEMAYEL ARCHITECTS PSLAB new destination zaitunay bay

On Beirut new waterfront, Zaitunay restaurants Retail Bay was launched by year end, Amarres L’Atelier Art Lounge to the joy of families heading over Babel Bay GS marine to 17 restaurants and cafés and Cappuccino Nada Debs five retail venues. Classic Burger Joint Selim Mouzannar Cozmo Café Water Nation Sports Center The pedestrian decks also include Cro Magnon a promenade as well as outdoor Häagen-Dazs Christmas market resting areas, all accessible through Karam al Bahr December 13-23 Corniche level entrances with Lina’s adjacent underground public parking Moti Mahal Delux facilities and valet service. Mywaterfront Paul Salmontini Riva Signor Sassi St Elmos The Coffee Bean and Tea Leaf Zabad by Karim Haidar 10 in style

le stay - restaurant sweet tea inDigO On the rOOf

city center Beirut sOuks newcOmers newcOmers Chaplin Restaurant Alex Toys Ets. Nakhlé Bodum Formes DKNY H.Stern Eden Park Iris Winter Garden GRID Sandro Jouet Club News Café Kurt Geiger Manasseh Yabani Marni Merlot Opening sOOn Thirty Seven Librairie Antoine Lufian Opening sOOn MAZ Antoine Hakim Antoine Karam house linen OutDOOr market Banque Libano-Française Souk El Tayeb, weekly organic Biel Bulgari products In Shape, October 20-24 Creative Closets Art Deco, October 13-16 List Cooking Festival, November 17-19 Liu Jo Security Middle East Show, Selamlique November 28-30 le stay - Bar 12 other Saint Vincent de Paul Church festive season celebrated nativity by inaugurating the traditional crib, December 22

Christmas markets: Afkart Lebanese Designers, Biel, December 16-22; Zaytounay Bay, December 12-23

beirut celebrates The city center sparkled with joy during the holiday season. The cel- ebrations, launched on December 3 in Beirut Souks by Solidere chairman Dr. Nasser Chammaa and Nancy Ajram with the lighting of the Christmas tree. Solidere adorned the streets with decorations and celebrated the holidays with activi- ties, boutiques decked the halls with festive window displays. New Year’s eve was celebrated in Ajami and Nejmeh squares, where fireworks lit the skies. 14 beirut chants

london community gospel choir

concerto soave

notre dame university choir antonins university choir ST SEPHANOS MELODE CHOIR

tania kassis matteo el khodr ghada shbeir abeer nehme

la chanterie de beyrouth garagatch children’s choir

raymond ghattas rania younes joumana medawar imane homsi, qanoun la voix d’ANTAN st romanos choir beirut school of ecclesiastic music

beirut chants St Elie Catholic St George Orthodox St Stephanos Melode Choir St Romanos Choir Beirut The fourth Sacred Music Festival Notre-Dame University Choir School of Ecclesiastic Music saw 24 concerts in seven churches Abeer Nehme, Vasilis Saleas of the city center, in various chant- St Louis Capuchin & Michel Fadel ing styles with the introduction Kamila & Zakar Kichichian of Gospel for the first time. Beirut St Elie maronite Walid Nahas, Piano Chants brings people together in The Festival’s Quartet Tony Hanna & Grace Medawar samar salame with colonel georges herro FOUR KNIGHTS - AL FURSAN AL ARBAA tony hanna & grace medawar festive downtown in a message of Ghada Shbeir Tania Kassis peace and unity to celebrate the Raymond Ghattas Matteo El Khodr holiday season through a program La Voix d’antan St maron gemmayzeh that features spiritual and ethnic Samar Saleme Concerto Soave music traditions, which are played St George Maronite Antonins University Choir out in a variety of Syriac, Byzantine, Joumana Medawar Rania Younes Armenian and Western classical & Joseph Khalife National Evangelical compositions. Church gates are London Community Imane Homsi, Qanoun open wide, full of music and chants Gospel Choir La Chanterie de Beyrouth during this holy month to rejuvenate Four Knights your soul and spread good cheer. Garagatch Children Choir WALID NAHAS, PIANO the festival’s quartet kamila & zakar kichichian micheline abi samra, beirut chants founder 16 books, Etc.

International Arab BookFair The 55th edition of the Beirut Arabic Bookfair, organized by the Arab Cultural Club with the collaboration of the Lebanese Publishers’ Union, involved more than 200 publishers. This year brought together publications, authors and audiences in all languages for a strong regional showing of literary talent and opportunity. Cultural events included booksignings, book launches, lectures and discussions. Biel, December 3-15

Among participants were Kalimat publishing house (Sharjah), award-winning publisher of Arabic children’s books.

booksignings Elisabeth Longuenesse, La crise des classes moyennes au Proche-Orient Arabe, translated to Arabic, IFPO Touma Arida, From Bab Touma to Bliss Gate, Riad Rayess Press Arabic translation from the Italian poems of Pier Paolo Pasolini, published salon du livre Lectures booksignings under the title Zaribat al-khanazir (Pigsty) Beirut’s 18th Salon du Livre, orga- Le développement au Liban entre 1948 Henry Laurens, La question de la nized by the Lebanese syndicate of et 1972 : histoire et enjeux d’un débat Palestine, vol. IV, Presses de l’USJ lectures book importers in partnership with national, Jean-Marc Fevret Henry Laurens and Sophie Basch, Organized by Phoenix Center of Lebanese Studies, USEK: the French Cultural Mission, provid- Le roman graphique, Zeina Abi- Discours et articles de Lamartine Youhanna Khalife, Between Jonas the Martyr and Semiramis ed ten days of intellectual exchange. rached, Kim and Antonio Altarriba, sur la question d’Orient, Librairie Fady Baroudi, Boulos Khawaja, Abdo Badaoui and Joseph Moukarzel, Biel, October 28 – November 7 animated by Maya Majdalani Orientale Asi-l-Hadath Lebanon: History of a Grotto, with the participation Marielle Khayat, Paul Gorra and of Fady Baroudi and Boulos Khawaja Under the theme Words of Freedom, exhibitions Diane Mehanna, Losing Touch, this year’s bookfair welcomed Gallimard, 1911-2011 : un siècle Beyrouth des petits métiers, Tamyras as a guest of honor and d’édition, retrospective Farid Chehab, Pari pour une Romania as a newcomer represented Esthétique de la prédation, Bruno conscience nationale, Éditions de la by Daniela Zeca and Vlad Zografi, as beirut Art Book Fair Accaoui, a tribute to Belgium Revue Phénicienne well as 130 international authors and and Brussels Samir Frangié, Voyage au bout The third edition of the fair gives an opportunity to delve into art books, thousands of Lebanese readers. Beyrouth, un printemps inachevé, de la violence, L’Orient des Livres from Lebanon and beyond, conferences and conversations with art critics, by the Samir Kassir foundation in publishers and teachers. Beirut Souks, October 25-29 Salon du Livre is the third largest collaboration with Cedrona Tania Rayes Ingea, Beyrouth, le centre-ville de mon père, texte Francophone bookfair in the world Balades à Paris, photos by Fernand booksignings de Gabriel Rayes, Éditions de la after Paris and Montreal. Zacot, IFPO Cesar Nammour Resonances, 82 Lebanese Artists reviewed by Helen Khal Revue Phénicienne Afaf Zurayk, Lovesong Éric Verdeil, Beyrouth et ses urbanistes, IFPO lectures Antoine Fischfisch, Formes urbaines Samir Sayegh, Design & Arabic Typography et architecturales de Beyrouth depuis le XIXe siècle jusqu’à nos jours, ALBA Grégoire Sérof, Pointes sèches. Billets parus dans l’Orient-Le Jour sur l’environnement, l’urbanisme et le cadre de vie au Liban, ALBA Hanan El Cheikh, Toute une histoire, other booksignings Virgin virgin Marc Levy, L’étrange voyage Sonya J. Sabah, Etiquette in the City: de Monsieur Daldry, Virgin Beirut, November 3 Alexandre Najjar, Kadicha, Librairie Antoine instituto cervantes Nina Jidejian and Mouna Bassili Tomas Alcoverro, La Historia Desde Sehnaoui, L’École de Droit de Mi Balcón, Destino, presented by Beyrouth, Éditions Dar An-Nahar José María Ferré, Unifil correspon- Leïla Badre, Hélène Sader and Bruno dant, November 17 Bioul, L’Archéo-Théma, n° spécial sur la Syrie et le Liban, Infolio Souk An-Najjarin Tania Hadjithomas Mehanna and Arab Youth / social mobilization in Houda Kassatly, Lebanon & on, times of risk, edited by Samir and Tamyras Roseanne Khalaf, Saqi Mathilde Chèvre, La roue de Tarek, Lebanon Adrift / from battleground Librairie El Bourj to playground, by Samir Khalaf, Saqi art & music beirut exhibition beirut souks center Slovak Glass and Fashion Fantasy, In the category Graphics / Branding Jewelry Souk, October 7 / Identity, Beirut Exhibition Center Des autres, of others, Katya Traboulsi, won the 2011 Core77 Design Award The Venue, October 7-22 for the best branding. Raffi Tokatlian sculpture, The Venue, Art in iraq today November 1-7 Curated by Meem Gallery, Dia Art Now in Poland, The Venue, Al-Azzawi and Charles Pocock, November 8-21 November 23 – December 31 Designers’ Trees, Cynthia Sarkis private collection, Jewelry Souk, saloua raouda choucair December 22 – January 8 The Retrospective, through November 13 Pièce Unique pop-up gallery - 24 avenue du parc Entre Vie et Lumières, Edouardo Workshops for the young Daher, November 2-12 Art workshops for children between Beirut Raise your Voice, Hana Kaaki, 7 and 12 years old. November 16-26

Saturdays, 10 am – 12 pm marcus miller Aida Cherfan philippe el hage An Art to See and Touch, Hussein Madi, November 11 - December 2 Volare, Marcello Carrozzini, December 9-30

alwane Vibrations, November 4-18 Omissions Sélectives, Zena Assi, November 8-25 Collective exhibition, Farid Awad, Chafic Abboud, Assadour, Vlaminck, art in iraq Signac, Kisling, Braque, Marie Lau- rencin, November 29 – January 24

Ayyam The Person Within, Asma Fayoumi, through October 15 Through the Looking Glass 2, Mouteea Murad, November 10 – December 31 performing arts Mark Hachem Duplet, painting and sculpture, Beirut souks Jazz Festival Entre Vie et Lumières Des autres George Merheb and Daisy Abi Jaber, Philippe El Hage Quintet, October 1 November 15-29 Chucho Valdez and the Afro Cuban Epilogue, collective exhibition, Messenger, October 6 December 15 – January 14 Marcus Miller, October 8

Mouawad museum ajami square Toi au Printemps, Patrick Renaud, Live bands, November 4-8 bronze sculptures, October 20-27 Liban Jazz music hall ffa private bank Paris Combo, October 31 May Rishani, scupltures, November 5 – December 5 grand serail Nearly 650 attended Ludovico Q Contemporary Einaudi’s concert organised by the Malist, Mehmet Ali Uysal, Italian Embassy in coincidence October 6 – November 12 with the Independance Day, in the The Golden Angel, 18 Karat gold presence of PM Najib Mikati, also a solid structure, Fadi Yazigi, patron of the initiative, Grand Serail,

Rafi tokatlian art now in poland November 11 – December 3 chucho valdes November 30 Visitors

Prime Minister Najib Mikati Mr. Ali Babajan

Ambassador Tom Fletcher Ambassador Mohamad Ballout Dr. Mohammad Sayegh

visitors Officials Professionals & Academics Turkish Deputy Prime Minister Ali Babajan; Prime Min- NYC City Planning director Amanda Burden with chair ister Najib Mikati with ministers Walid Daouk, Nicolas of the City Planning Commission Pamela Puchalski, Nahas, Fadi Abboud, Marwan Kheireddine and Vreij international author Philip Jodidio (US); ESPA develop- Sabounjian; British ambassador Tom Fletcher; ment senior associate Paula Perkins, Anouska Hempel mayor Kadri Topbas; Tunisian ambassador Mohammad designer Carolyne Shenton with Mike Walter, SPA Fawzi Ballout; AUB vice-president Mohammad Sayegh; consultant Neil Howard, Halcrow British consultant Paul MENA director at British Expertise Dominique James; Brenton, London Community Gospel Choir (UK); Raouf Geneva mayor Pierre Maudet; Canadian commercial Finan, La Réserve, AM Environment representatives counselor John Ormond. Sophie Rabat with Christian Moreau (); interna- tional publisher Gerhard Steidl (Germany); Lord Cultural business Delegations Resources president Barry Lord (Canada); architect Julius Baer Group chairman Julius Bär (Switzerland); J.P. geographer Romeo Carabelli with fourty Euromed Morgan vice president Abhijeet Singh (UAE); Blackeney Heritage4 researchers; 33 architecure students with Management fund managers, Capital Partners senior Professor Lina Ghotmeh, (France); Australian students, executives (UK); DWT group representatives (Italy); 10 Melbourne University. high-level Saudi representatives, Al Riad Development Authority, Al Riad Dvelopment Company and Commis- Media sion for Tourism and Antiquities; KPMG senior director Ten French journalists with Lebanon Tourism office Sashikanth Ramakrishnan, Jeddah Holding CEO Moham- director in Paris, Serge Akl, TV5 journalist Marie - Ange mad El Shehri (KSA); five Reich and Petch representa- Horlaville, photo-repotrter Eleonore Bonneval (France); tives (Canada); Langham Hospitality Group Middle East ten international journalists. Copyright © 2011 Solidere vice-president Sam-Erik Rutmann; Dutch Council of Tall The Lebanese Company for the Development and Buildings CEO and senior executives, IHS director Kees Reconstruction of Beirut Central District s.a.l. van Rooijen (Netherlands); Lazzar Assets Management PO Box 119493 Beirut senior analyst Ben Wulfson (US). 2012 7305 Lebanon Tel 961 1 980650 - 980660 Fax 961 1 980661 - 980662 [email protected] www.solidere.com

Photographers Mosbah Assi | Ahmad Azakir | Fares Jammal | Mazen Jannoun