141 Units SODIC’s Westown Residence Sold

Six of October Development & Investment Co. (SODIC) has launched the second and third phases of Westown Residence Project containing 160 housing units as the two phases have been entirely sold. SODIC has signed contracts for 141 units worth L.E193 million. Additionally, 19 units have been reserved through deferred checks till making of their own contracts.

The company’s net contracts reached L.E420 million.

SODIC’s consolidated financial statement for the first 9 months of 2011 has revealed that the company has incurred a net loss of L.E156.698 million, noting that it had posted net profits of L.E106.23 million for the same comparable period of 2010.

In the meanwhile, the company’s unconsolidated financial statement has revealed the making of net losses valued at L.E105.097 million, noting that it had posted net profits of L.E264.458 million for the same comparable period of 2010.