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The Estates project to be launched in September
Magued Sherif, SODIC’s Managing Director said that this positive development paves the way for the launch of the company’s project “The Estates” in the last quarter (Q4) of 2019, with total expected sales exceed EGP 7bn over eight years.
Gross profit grew 23% to hit EGP 630m during the period, reflecting a gross profit margin of 31%.
Westown HUB, SODIC’s 8,000 sqm neighbourhood mall, is directly adjacent to the Polygon Business Park, and its solar powered parking sheds are planned to generate enough clean energy to cover 95% of the head quarter’s energy needs
Company plans to offer second phase of Malaaz North Coast project in July, says managing director
Company disburses EGP 1.8bn out of EGP 3.2bn worth credit facilities
According to the press statement, the strong growth in revenues was driven mainly by Villette which contributed to circa 50% of the delivered value.
Egypt-based leading property developer planning to launch Six West project
The Six of October Development & Investment (SODIC) plans to direct EGP 3.7bn in projects’ constructions in 2019, according to its Managing Director and board member, Maged Sherif. Sherif told Daily News Egypt that the company is pumping EGP 1.45bn for paying lands’ cost in 2019. Additionally, Sherif noted that the company has invested EGP …
Government exerts substantial efforts to internationally promote Egypt’s real estate sector
Company requested to respond to inquiries to ascertain its legal position, noting that these issues refer to contracts signed over 20 years ago
The declared acquisition will be conducted through direct equity swap only
Company projected to generate around EGP 15bn in sales within seven years
Synergy between two companies to enhance Egypt’s real estate sector
Company revenue grows with resilient margins despite inflationary backdrop
SODIC’s board discusses revenues division plan Monday
Higher land prices create more partnerships among developers
The bank’s total loans to SODIC Group increased to EGP 4bn over the past three years
The project valued at EGP 900m, all units sold
The service offers smart control system solutions depending on the Internet of Things
SODIC records triple digit growth in profit, estimated at EGP 211m
Company obtained credit facilities of EGP 2.2bn, 55% of which was utilised
The company achieves 40% growth and aims to allocate EGP 600m for purchasing lands in 2017
The academy will be launched in January 2017; company seeks to develop sports sector, says Sherif
Cassation Court upholds three-year imprisonment sentence against former housing minister Ibrahim Soliman
80% of lands are not developed and the growth in the sector is just 7%, says Rooya CFO
New phases in both SODIC East and West projects to be launched in H2
Eastown to generate up to 80% of the recurring income by 2020
The EGX kept moving upwards during last week, registering a 1.76% rise as it increased from 7,453.1 points to 7,618 points.
SODIC announced the completion of a number of major projects, such as the Courtyard development and East Cairo projects, including Villette and Eastown