Latest in Tag: SODIC Highlight
Latest in Tag: SODIC
The alliance of Aldar Properties listed on the Abu Dhabi Securities Exchange and Abu Dhabi Developmental Holding Company (ADQ) presented a request to the Financial Regulatory Authority (FRA) in Egypt to approve a compulsory purchase offer to acquire up to 90% and not less than 51% of the existing capital of the Sixth of October …
Protocol entails providing diverse payment plans for SODIC’s delivered units
New land plot is expected to add EGP 10bn sales over next 6 years
New allocated plot is beside original one, estimated at 440 feddan
The Sixth of October Development and Investment Company (SODIC) has announced the success of its subsidiary, SODIC Securitisation, in completing the first issuance of securitisation bonds worth EGP 343m. In a statement to the Egyptian Exchange (EGX), on Monday, the company said that the securitisation bonds were insured through a portfolio of notes worth EGP …
The offer is being made on all shares of the Sixth of October Development and Investment Company (SODIC).
Extension will apply for additional 30 days starting from 14 June
Strength of Q4 2020 carried over, helping company deliver best Q1 on record for gross contracted sales, says Managing Director Maged Sherif
Company’s gross contracted sales in 2020 amounted to EGP 7.4bn, up 2% y-o-y
UAE’s Aldar Properties presents preliminary non-binding offer for majority stake in SODIC
Offer for 51% minimum stake in SODIC is subject to due diligence, applicable regulatory approvals, and other conditions
Residential sales grew by 19% driving y-o-y sales growth despite challenging year
About 40,000 sqm of commercial BUA are expected to come on line in FY 2020/21
SODIC has signed a partnership agreement with the Arab African International Bank (AAIB) to provide its clients with e-payments solutions accessed through the developer’s website. The agreement entails that the AAIB provides a payment gateway that allows clients an e-payment option for their home installments and any other payments against services or products offered by …
Inspired by the Californian town Carmel-by-the-sea, Karmell is designed as a small town themed around easy living.
This plug and play concept enables clients to start their business with no initial investment, making for an accessible, efficient and hassle-free experience.
Tawasol’s first school provides Ministry of Education certified learning, along with vocational training and an expanded performing arts programme,
SODIC is currently studying the best offers provided by contracting companies to begin construction works in the project.
The company’s projects in west Cairo accounted for 60% of total gross contracted sales during the period driven by the strong performance on the next generation projects. VYE contributed 37% of sales, and the Estates contributed 10%. East Cairo made up 39% of the period’s gross contracted sales, with Villette generating 24% and SODIC East contributing 10%.
Since breaking ground, SODIC has awarded over EGP 1.7bn worth construction contracts in Eastown
Launched in 2014, Villette will cover an area of 301 feddans. SODIC has delivered about 600 units, with delivery of units in the project’s first phases having started in 2018. Villette is comprised of single family homes as well as high end apartment buildings.
‘We invest in our brand by focusing on safety, comfort of our customers, says Magued Sherif
Gross contracted sales of residential units reported at EGP 1.83bn in H1 of 2020
The contract relates to 655 feddan in New Heliopolis City, according to which HHD would receive 30% of the project’s revenues. This figure is based on changes in general economic conditions, and the extent of the project’s impact on the real estate sector.
Daily News Egypt sat down with Sherif to learn more on the company’s plans and vision regarding Egypt’s real estate market.
During a site visit to SODIC East, Sherif said, “Since breaking ground in 2018, SODIC has awarded over EGP 1.2bn in construction contracts
The all-new 4-in-1 villa delivers on four main criteria usually only available in mansion living but which have been made available in attainably sized homes.
Company has EGP 7.7bn liquidity sources, of which EGP 2.7bn is in cash and equivalents
The company said that total gross profits reached EGP 114m during 1Q 2020, implying a gross profit margin of 26%, compared to EGP 270m and a margin of 29% during 1Q 2019.
Real estate developer commissions 50 Patient Isolation Units, equips another 21 in cooperation with Ministry of Health