SODIC to invest US$301.64 million in Egypt

Posted on : Tuesday , 17th February 2015

Egypt’s property group SODIC has announced on Monday this week that it will invest US$301.64 million in 2015. CEO of SODIC Ahmed Badrawi has said the company is set to build 684 new property units in 2015. The company had announced last year that construction of first phase of its development in Heliopolis would start this year.

The Sixth of October Development and Investment Company (SODIC) is an Egyptian company and has subsidiaries working in real estate sales, finishing works, landscaping and property management. Other interest areas include estate finance, interior design and specialised building materials.

One of the company’s Hill projects is the Eastown, located adjacent to the campus of America university Cairo and near Cairo International Airport and will become the vibrant hub of the new Cairo district. The real estate development will include construction of retail mall, an office park and residential units suitable to business people who have an international element in their lifestyle.

The infrastructure in the town has been well developed with intersections to aid free movement of cars, cyclers and pedestrians.

SODIC’S other development works include apartments, hotels and offices, Weston Business Park, Weston residence, katttameya exclusive apartments, strip and the Weston entertainment hub.

Most large real estate companies’ contracts were cancelled during the political instability in the country in 2011.

SODIC is the third largest listed property group in Egypt.

Source : construction review online

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