Having got the government’s approval on the company’s acquisition of new land plot on an area of 30 feddans in Sixth of October, SODIC is currently conducting the feasibility study for the development of a housing compound in the area.
SODIC, Egypt’s third-largest listed real estate developer, expects contracted sales to reach about EGP 4.9 bn in 2016.
SODIC’s profits in 2015 came almost double that of the previous year to EGP 321m thanks to the rising demand in Cairo’s affluent eastern suburbs and for coastal summer homes.
SODIC has completed 45 per cent of construction on Eastown Cairo in New Cairo. The company is currently developing its first coastal project: Caesar in the north coast.
