A general view of downtown Beirut, Monday, July 7, 2014. (The Daily Star/Mohammad Azakir)
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Real estate giant Solidere's results are projected to show a rise in profits to $111.1 million for 2016 compared to an $87.2 million loss in 2015, thanks to improved property sales, FFA Private Bank said in report about the company.Solidere recorded net profits of $72.1 million in the first six months of 2016 compared to a loss of $28.71 million in the same period of 2015 .It is also the only real estate firm listed on the Beirut Stock Exchange.It expected revenues from land sales at the end of last year to be around $213 million.It added that the revenues from rents in the North Souks will offset the lower lease income in other areas of Downtown.
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