In 2005, Inmaa's majority shareholder, Kuwait's General Investment Authority, was trying to sell the company to divest from the land, according to a news report carried by MENA FN.
Nine years ago, he says, he was on the cusp of brokering a deal for an American company to buy 70,000 mA of land for $140 million -- including the nine Inmaa plots, which he says accounted for 30 percent of the total land on offer.
An option was taken on the land allowing for a window of opportunity to sort through the legal hurdles and investigate if resolutions could be facilitated, while locking in a very competitive price." A 2014 document from Lebanon's commercial registry shows no reference to Kuwait's General Investment Authority's ownership in Inmaa. Instead, Walid Daouk, a nonexecutive director at Stow and former information minister, owns 21.2 percent of Inmaa, while Stow itself owns 8.1 percent.
As the Inmaa example illustrates, land in this part of Beirut has often changed hands via corporate deals rather than land sales.
Mahmoud, a Syrian refugee, struggled to feed his family for two years before moving to the Inmaa compound, an organized refugee settlement in Barr Elias in the western Bekaa Valley, where he opened his salon next to a small shoe store and a cellphone shop.
A 30,000 square meter walled-in community with its own drainage system, clinic, school and water purifying plant, the Inmaa compound could represent a new model for refugee settlement in Lebanon.
At the Inmaa compound, families live in well-outfitted caravans lined in tidy rows.
Handing a fellow camp resident a cut of fresh meat, Walid said his situation improved once he moved to the Inmaa compound.
Araji called Inmaa "better than the other camps in Barr Elias."
While admitting that the Inmaa compound is well supervised and organized, Barr Elias mayor Saad Maita said he was worried that refugees "would have no reason to leave if they keep receiving that kind of support."
There are more than 600 families on the waiting list, each hoping to receive a coveted caravan at the Inmaa compound, Habash said.
Establishing settlements like Inmaa compound "is not a solution," Mayor Maita insisted.