File - Office buildings are seen in Downtown Beirut, Tuesday, Feb. 25, 2014. (The Daily Star/Mahmoud Kheir)
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Real estate developer Solidere will report that its net profits in 2013 jumped to $55 million compared to $18 million in 2012, FFA Private Bank said.Solidere's profits plunged 10 percent to $18 million in 2012 due to low real estate sales and rents.FFA stressed that Solidere planned to draw more investments into its department stores which were opened three years ago.FFA reiterated that Solidere shares were undervalued and did not reflect the true value of the company.Solidere A and B shares stood at $12.92 and $12.97 respectively Friday, but FFA believes that the election of a new president and political settlement in Syria would improve the price of Solidere shares.
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