SODIC’s projects investments cost mounts to $792mn in 2015

Egyptian real estate developer six of October Development & Investment (SODIC) announced that the investments cost of completed projects during the financial year of 2015 has mounted to 7.035 billion Egyptian pounds (US$792mn).

SODIC, the country’s third-largest listed real estate developer has delivered 663 units in four different projects, with total value of 1.23 billion Egyptian pounds during 2015.

The units distributed as follows: 95 units worth EGP325 million in allegria, 45 units worth EGP79 million in Kattameya Plaza, 499 units worth EGP707 million in Eastown Residence, and 60 units worth EGP119 million.

Moreover, the company revenue for the period rose to 1.47 billion Egyptian pounds from 1.37 billion pounds in 2014. In addition it posted consolidated net profit of 321.3 million Egyptian pounds ($35.9 million) for 2015, up from 154.3 million a year earlier.