The Lebanese Company for the Development and Reconstruction of Beirut Central District, popularly known as Solidere, focuses on urban planning and infrastructure development. It manages and sells plots in the Beirut city center where it also is a landlord offering residential and commercial units for lease. The company is also engaged in real estate development outside of Lebanon through its affiliate, Solidere International.

The company's revenue stream depends greatly on land sales. Income in 2006 and 2005 originated to more than 90% from sales of plots to investment firms and project developers. Rental income contributed 8% to revenue.

Solidere was incorporated in 1994 by government decree with the sole purpose of redeveloping a 191-hectare area in the urban core of the Lebanese capital. This area, the so-called Beirut Central District (BCD) had been devastated in the 1975 to 1989 Lebanese conflict. Solidere's mission was to rebuild historic portions representing 12% of the area and newly develop the remainder into a showcase city center and model for national reconstruction.

While a commercial company listed on the Beirut Stock ExchangeBeirut Stock Exchange, Solidere enjoys a monopoly status as state-backed enterprise that was authorized upon its establishment to claim BCD properties in exchange for compensation through shares in the company.

At its inception, Solidere sourced 64.3% of its capital, or USD1.17 billion, as in-kind contributions from landowners who were reimbursed with shares ('A' shares). It raised additional USD650 million in cash through an IPO of Solidere B shares on the Beirut Stock ExchangeBeirut Stock Exchange; both share classes have been trading indistinctly. It co-listed on the London Stock Exchange through GDRs and was cross-listed also on the Kuwait Stock ExchangeKuwait Stock Exchange in 2005 where the company decided in 2007 to delist because of unsatisfactory performance.

The work of the company progressed rapidly in the years until 1998. Between 1998 and 2004, main projects like the Souks (central market) got bogged down in administrative and legal disputes. In parallel, the company suffered from low market valuation as its share prices dropped from highs above USD13 in late 1997 to trade at below USD5 on average in 2001 and 2002.

By creating new property investment incentives in conjunction with an improvement in Lebanon's economic climate in 2004, Solidere boosted its land sales and market capital. The company's net profits advanced from USD16.4 million in 2003 to USD132 million in 2006 because of the growth in sales revenues. The company proved resilient to a series of crises that beset Lebanon from February 2005 when former Lebanese prime minister and spiritual father of Solidere, Rafik Hariri, was assassinated.

Knowing that its decreasing land bank and progress in BCD development would reduce the company's original role, Solidere management in 2006 obtained shareholder approval to venture into urban planning and real estate development outside of Lebanon. Solidere entered project partnerships in the UAE and Egypt and founded Solidere International (SI), becoming managing shareholder with 37% ownership when SI was incorporated in July 2007 in Dubai as a regional developer with USD770 million capital.