Lebanon Businessnews News
 

HSBC initiates coverage on Solidere
The bank expects Solidere to report a growth in profits
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HSBC said that the positive outlook on Solidere’s stock is buoyed by demand factors, the strong macroeconomic and real estate market fundamentals, a recent appreciation in land values, and the political stability.

The report expected a rise in land sale driven by increasing demand. It said that Solidere owns some of the very few large plots of land in the Beirut Central District (BCD) in its portfolio, expecting that this land to become more valuable.

HSBC expected Solidere to report solid earnings growth that would also result in a steadily increasing dividend. The strong earnings would stem from both land sales and recurring revenues from rentals. 

Date Posted: May 17, 2010
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