Latest in Tag: SODIC Highlight
Latest in Tag: SODIC
Emirati consortium submits compulsory purchase offer to acquire stake in 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 …
SODIC, CIB ink mortgage finance protocol
Protocol entails providing diverse payment plans for SODIC’s delivered units
SODIC acquires 123-feddan extension to its ‘The Estates’ compound in West Cairo
New land plot is expected to add EGP 10bn sales over next 6 years
SODIC offered different location for its residential project in New Zayed
New allocated plot is beside original one, estimated at 440 feddan
SODIC announces completion of first securitisation bonds issuance
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 …
Aldar Properties requests extended compulsory purchase offer of SODIC shares until due diligence completed
The offer is being made on all shares of the Sixth of October Development and Investment Company (SODIC).
Egypt’s Financial Regulator extends Aldar Properties’ MTO deadline for SODIC acquisition
Extension will apply for additional 30 days starting from 14 June
SODIC records strong growth across operational, financial KPIs for Q1 2021
Strength of Q4 2020 carried over, helping company deliver best Q1 on record for gross contracted sales, says Managing Director Maged Sherif
SODIC eyes EGP 8.8bn gross contracted sales in 2021
Company’s gross contracted sales in 2020 amounted to EGP 7.4bn, up 2% y-o-y
SODIC may appoint IFA to assess its stock fair value following acquisition offer
UAE’s Aldar Properties presents preliminary non-binding offer for majority stake in SODIC
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
SODIC records EGP 7.4bn in gross contracted sales during 2020
Residential sales grew by 19% driving y-o-y sales growth despite challenging year
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 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 …
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