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SODIC eyes securitising receivables, keeps New Capital on radar to expand land bank
About 40,000 sqm of commercial BUA are expected to come on line in FY 2020/21
SODIC, AAIB sign partnership agreement to provide e-payment solutions
SODIC sells out Karmell’s first phase in New Zayed
Inspired by the Californian town Carmel-by-the-sea, Karmell is designed as a small town themed around easy living.
SODIC, Mobica introduce Work-Plex
This plug and play concept enables clients to start their business with no initial investment, making for an accessible, efficient and hassle-free experience.
SODIC opens new Tawasol Community School in Cairo’s Istabl Antar
Tawasol’s first school provides Ministry of Education certified learning, along with vocational training and an expanded performing arts programme,
EGP 44bn sales expected in New Heliopolis’ SODIC East development
SODIC is currently studying the best offers provided by contracting companies to begin construction works in the project.
SODIC records over EGP 5bn in sales in 10M 2020
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%.
SODIC’s Eastown District New Cairo remains on schedule for 2021 delivery
Since breaking ground, SODIC has awarded over EGP 1.7bn worth construction contracts in Eastown
SOREAL signs EGP 2.57bn medium-term facility with AAIB to finance Villette
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.
SODIC accelerates development of virtual platform to encourage sales amid COVID-19
‘We invest in our brand by focusing on safety, comfort of our customers, says Magued Sherif
SODIC gross sales in 7M 2020 equal 2019 levels despite pandemic
Gross contracted sales of residential units reported at EGP 1.83bn in H1 of 2020
SODIC to reschedule HHD’s dues in New Heliopolis City participation contract
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.
SODIC focuses on keeping operations on schedule, timely market launches
Daily News Egypt sat down with Sherif to learn more on the company’s plans and vision regarding Egypt’s real estate market.
EGP 1.2bn construction contracts awarded in SODIC East since 2018
During a site visit to SODIC East, Sherif said, “Since breaking ground in 2018, SODIC has awarded over EGP 1.2bn in construction contracts
Standalone villas at SODIC’s VYE project sell out in 48 hours
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.
SODIC postpones launch of EGP 2bn real estate projects
Company has EGP 7.7bn liquidity sources, of which EGP 2.7bn is in cash and equivalents
SODIC records EGP 429m revenues for 1Q 2020
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.
SODIC equips hospitals to deal with COVID-19
Real estate developer commissions 50 Patient Isolation Units, equips another 21 in cooperation with Ministry of Health
SODIC shifts marketing resources to Covid-19 awareness, protection programmes
The move comes as part of stepped up efforts in combating the coronavirus outbreak by joining the global community in creating awareness about the pandemic and attempting to curb its spread.
SODIC records EGP 7.3bn in contracted sales, a growth of 32%
Company eyes gross contracted sales EGP 8.4bn – a growth of 15%, says managing director
HC expects SODIC’s revenues to record EGP 23bn from launched projects in 2020-2022
HC forecasts point to future cash collections of EGP 18.0bn over 2020–27e from launched projects, of which EGP 10.9bn are related to outstanding receivables.
SODIC, CIB sign EGP 1bn medium term facility for EDNC project
EDNC is designed as an office and retail complex and is developed with a focus on sustainability where the buildings’ form and facade are proportioned to provide ideal day-lighting through the optimum organisation of office space to encourage a healthier and productive environment by reducing its carbon footprint.
SODIC, NUCA sign escrow account contract with Banque Misr for 500-feddan plot in New Zayed
SODIC had signed the partnership agreement for the 500-feddan plot with the NUCA in March 2019. Since then, the company has been awarded the ministerial decree and launched the first neighbourhood of the project “VYE” which achieved over EGP 1bn in booked sales.
SODIC’s VYE sells out making EGP 1bn in two days
The developer had launched VYE, bringing to the market the expandable apartment within a multi-family building branded “Neo”, and also introducing “Sol” the first solar powered town and twin homes in Egypt, which proved to be a big hit among buyers.
SODIC launches SODIC East’s first phase of apartment buildings
SODIC East project comprises low rise five floor apartment buildings with open views from every apartment, designed around a 4,000 sqm green community park with buildings connected through quaint pedestrian alleyways.
SODIC awards EGP 300m in construction contracts for SODIC East’s development
SODIC had broken ground last year following the successful launch and selling out of EGP 2bn worth of single-family homes in SODIC East, which has launched its next phases, now under construction, and is progressing ahead of schedule on track for delivery starting November 2021.
Emaar, BPE Partners, and SODIC shows interest in managing HHD
The company has seen great interest from real estate developers, and the prospectus to be issued in December, says El-Deeb
SODIC launches 4 new projects in New Zayed with EGP 34bn investments
The Estates project to be launched in September
SODIC receives approval on Al Yosr land master plan
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.
SODIC reports EGP 2bn revenues in 1H19, a 92% growth
Gross profit grew 23% to hit EGP 630m during the period, reflecting a gross profit margin of 31%.