ICEC

SODIC makes L.E 218m Contracts in 5 Projects

Six of October Development & Investment Company (SODIC) has achieved contracts of L.E218 million during last January through 6 projects.

The contracts of West Town Residence project have valued L.E 182.8 million for 81 housing units and the sales of Allegria reached approximately L.E62.4 million for 13 housing units.

The company has also achieved contracts of L.E16.4 million for Polygon projects to build up 13 housing units, of L.E12.7 million in Kattameya Plaza to build up 9 housing units and of L.E10.7 million for Auto Ville project.

SODIC has allocated 20% of the total value of the contracts to stay alert to any cancellations could be made due to the current situation of the Egyptian market. The 20% would be for the investors’ prospects management. 

The company is planning to launch 3 new projects within the coming period. The first West Town Residence project which is made on the space of 32 thousand m2 through an investment cost of L.E 72 million. The speculative sale value reaches L.E 131 million and the delivery would be in 2015.

The second is Allegria Phase V which is made on a space of 25 thousand meter with an investment cost of L.E70 million. The speculative sale value for this project is L.E 133 million and the delivery would be in 2014.

The third project is Westown Entertainment which is commercial units built on a space of 59 thousand m with an investment cost of L.E 70 million. The speculative rental value reaches L.E 77 million and the delivery would be in 2013.

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