Solidere: MEED Assessment

19 February 2008

The company recognises that it must expand out of its home territory

As its land bank in central Beirut diminishes and its projects progress, the company recognises that it must expand out of its home territory to maintain profits and momentum. Establishing operations in foreign markets will benefit the company through its exposure to a broader range of investors.

But it will also pose challenges. Beyond Lebanon, Solidere does not enjoy a monopoly or a special relationship with the government. Expansion will plunge the company into more competitive, less familiar markets. The company will have to capitalise on its brand name and success in Beirut in its search for project opportunities and partners.

But relying on its existing staff to work on these projects will place a severe strain on resources and slow the pace of growth. SI will have to grow rapidly in size and develop new talent if the subsidiary is to maintain the pace of its developments.

Its focus on Beirut is at risk, and Solidere must continue to complete projects in the capital to sustain its legacy as a national symbol of reconstruction.

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