- Title: LEBANON: BEIRUT RUINS TO BE RE-BUILT BY PRIVATE BUSINESS
- Date: 14th January 1993
- Summary: BEIRUT, LEBANON (RECENT - JANUARY 1993) (REUTERS) GV: Destruction in Beirut's downtown SCU: Model of project GV: Activity in downtown GV/CU: Kiosk set up as information center at the middle of Martyrs square in the downtown SCU: Civilians looking at catalogues explaining SOLIDERE's plan / Lebanon and SOLIDERE flags GV/LV: Banks' street in the downtown / SOLIDERE headquart
- Embargoed: 29th January 1993 12:00
- Keywords:
- Location: BEIRUT, LEBANON
- Country: Lebanon
- Topics: Business,Conflict,Politics
- Reuters ID: LVAXJCL6GP39IUF4DMCUWUDCPPZ
- Story Text: SUGGESTED NEWSREADER INTRODUCTION: Lebanon today (Monday November 22) is celebrating 50 years of independence, with its citizens looking forward to a new era of peace and reconstruction.
The Lebanese capital, Beirut, still lies in ruin after years of civil war, but a 20-billion dollar rebuilding programme is about to get underway.
Backed by billionaire President Elias Hrawi, the scheme involves knocking down large sections of the city. It has not been met with universal approval, with some people questioning Hrawi's motives...
------------------------------------------------------------------- Beirut. For 15 years of civil war the name conjured up images of destruction. The centre of the city, the frontline where Christian fought Moslem was reduced to rubble. Now, three years after the war ended, Lebanon is about to start rebuilding the city centre.
It's billed as the world's biggest urban redevelopment project of the 1990s.
Starting next year, it will take 25 years to rebuild what was once the pearl of the Middle East.
A 1.8 billion dollars private company is being set up to carry out thr project. It is the Lebanese Company for the Development and Reconstruction of Beirut Central District, known as SOLIDERE.
On November 2 every Lebanese citizen got a chance to invest when SOLIDERE opened a 650 million dollars share issue that will last for 10 weeks.
Landowners and former tenants in the destroyed areas whose property will be developed will receive shares worth another 1.17 billion dollars. Non-Lebanese Arabs can also invest.
The company forecasts big profits and dividends from sales of land and buildings in the new city centre.
Prospective investors are making enquiries at SOLIDERE headquarters but so far there has been no rush to invest.
Nasser Chamaa heads the Board of Founders of SOLIDERE. He is a close associate of Rafik al-Hariri, Lebanon's billionaire prime minister who is the driving force behind the plan.
(NASSER CHAMAA, SOLIDERE) "THIS PROJECT BY ITSELF WILL HAVE A BIG IMPACT ON THE GNP OF THE COUNTRY. IT IS ESTIMATED THAT IN THE FIRST FIVE YEARS OF THE PROJECT, THE IMPACT WILL BE CLOSE TO TEN PERCENT. THE UNEMPLOYMENT RATE WILL ALSO DROP FROM WHAT IT STANDS TODAY - APPROXIMATELY 20 PERCENT - TO ABOUT 14 PERCENT BECAUSE OF THE WORK THAT WILL BE GENERATED BY THE PROJECT. IT WILL BE A CITY THAT WILL PRESERVE ITS HERITAGE - WE ARE PRESERVING OVER 250 BUILDINGS THAT ARE HISTORIC IN NATURE. SOME OF THESE BUILDINGS ARE 200 TO 300M YEARS OLD. WE ARE ATTEMPTING TO TAKE ADVANTAGE OF THE ARCHAEOLOGICAL FINDS THAT MIGHT BE SALVAGED THROUGH THE EXCAVATIONS THAT ARE GOING ON. WE ARE TRYING TO PRESERVE THE LEVANTINE CHARACTER OF SOME OF THE RESIDENTIAL BUILDINGS - RESIDENTIAL QUARTERS THAT EXIST IN THE DOWNTOWN CENTRE AND WE WILL ALSO BUILD A NEW FINANCIAL CENTRE ON THE RECLAIMED AREA OF THE PROJECT" (ENGLISH) Before rebuilding starts, thousands of squatters will be moved out of the ruins. Many are civil war refugees who fear they will have no place to go -- although the government has paid compensation to families evicted so far.
Mrs Raya Daouk heads an association formed to defend the rights of the property owners and she accuses the government of trampling on their rights.
(RAYA DAOUK) "NOBODY CAME TO CONSULT US - NOBODY CAME TO SAY WHETHER WE ARE WILLING TO GIVE AWAY OUR PROPERTY OR NOT. NOBODY'S EXPLAINING ANYTHING - THEY JUST PASS LAWS, BECAUSE THE PEOPLE ARE IN POWER" (ENGLISH) Mrs Daouk said property owners are determined to ge their land back through the courts-- even if takes 40 years.
But the threat doesnt seem to worry SOLIDERE. It says the owners by themselves could never rebuild Beirut's shattered heart.
And it believes that if SOLIDERE doesnt build a new city centre, Beirut many never be rebuilt at all.
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