Friday, June 02, 2006

Learning From Other People's Mistakes

I did get a chance to visit Solidaire in Beirut more than a handful of times. It is nice but half the places are empty. So I asked why that is the case. The answer was the fact that rent was set too high for people to afford. I do not remember the exact number, but what I remember was that it was astronomical by many standards, even taking into account how expensive rent can be in Lebanon.

I know that our own "Solidaire," or new down town will be ready in a year or two, and what I hope is that the rent would not be set too high. I know that it is probably all rented by now, almost 2 years before the opening, but what will happen a year after it has opened? Will it be the next "Solidaire"


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