SODIC To Launch Westown Residences Phase VI

Six of October Development & Investment (SODIC) – (OCDI.CA) said it plans to launch its Westown Residences Phase VI within the coming few weeks. Phase VI includes around 100 residential units worth EGP 1.2 – 2 million.

Sources from the firm said SODIC has succeeded during the last few days in marketing around 83% of Westown Residences Phase V’s total units of 98. Sources also noted that Westown Residences Phase V’s 98 units have been put up for sale on September 11th, 2012.

The sources further added that SODIC’s volume of sales has hit around EGP 1.3 billion during the last nine months. SODIC is seen a higher volume of sales by the end of the current year, they said.

SODIC owns raw lands portfolio worth EGP 2.5 billion, they stated. The firm awaits the government’s decree presenting further lands within the coming period. SODIC would then compete to purchase the new lands seeking to boost its land portfolio, they explained.

Moreover, the sources mentioned that SODIC forecasts that the market will witness a remarkable growth through 2013.