Egypt’s property developer SODIC eyes 3.2 bln pounds investments this year

Egypt’s property developer firm SODIC says it plans to pump investments of 3.2 billion Egyptian pounds ($181.8 million) into its flagships within 2018 up from 1.8 billion pounds during 2017.

SODIC also targets contractual sales estimated at 8.7 billion pounds from its projects within this year, said its managing director Magued Sherif on Thursday.

“The company earlier achieved contractual sales worth 5.7 billion pounds from projects at the end of 2017,” Sherif further added.

In addition, the Egyptian official referred that SODIC seeks to deliver 1,048 units in its projects within 2018 versus 1,151 units in 9 projects a year earlier.

Sherif clarified that SODIC has submitted offers to attain four public-private partnership (PPP) land plots on total space of 2,054 faddans, including three land plots in Sheikh Zayed city, on the outskirts of Cairo, and one land plot in Sixth of October City.