SOLIDERE The general investor sentiment toward the Lebanese GDRs remains unchanged with local and foreign investors waiting for the upcoming elections for an efficient macroeconomic policy. Solidere’s GDR rose 15.28% to $6.225 (14/7) as investors perhaps smelled a bargain, only to fall back 3.61 % to $6 (21/7), then again drop 7 .5% to$ 5.55 as the economic condition worsened with no signs of relief from the depressed real estate sector (28/7). By early August, Solidere’s GDR edged up 0.9% to $5.6, as prince Al Walid reconsidered plans to build a $250-million Four Seasons hotel, as well as a residential apartment complex in downtown Beirut (4/8). AUDI Audi’s GDR was no different than the rest of the GDRs or for that mat- 25 ter the economy in general with the macroeconomic conditions still on 20 the downside and political instability due to the elections putting the economy on hold. Audi’s
