Latest in Highlight
Latest in
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%.
SODIC Headquarters to be Powered by Solar Energy in 2020
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
SODIC to pay EGP 1.2bn of outstanding land dues in 2019
Company plans to offer second phase of Malaaz North Coast project in July, says managing director
SODIC’s advance cheques for real estate projects reach EGP 11.4bn
Company disburses EGP 1.8bn out of EGP 3.2bn worth credit facilities
SODIC revenues grow 84% to EGP 941 in 1Q19
According to the press statement, the strong growth in revenues was driven mainly by Villette which contributed to circa 50% of the delivered value.
SODIC nets EGP 500m contractual sales from Allegria Residence project
Egypt-based leading property developer planning to launch Six West project
Sodic to invest EGP 3.7bn in constructions in 2019
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 …
Opening of GEM will increase real estate demand, sales in west Cairo: SODIC
Government exerts substantial efforts to internationally promote Egypt’s real estate sector
SODIC signs settlement with respect to 1,400 feddan of Sheikh Zayed land
Company requested to respond to inquiries to ascertain its legal position, noting that these issues refer to contracts signed over 20 years ago
SODIC’s stock represents a good chance as merger plans with MHND go in full swing: report
The declared acquisition will be conducted through direct equity swap only
SODIC’s new projects to enhance company performance, boost profitability: Pharos
Company projected to generate around EGP 15bn in sales within seven years
SODIC, MHND merger to have strategic impact on both firms: report
Synergy between two companies to enhance Egypt’s real estate sector