Egypt’s SODIC, NUCA to execute PPP urban project in Sheikh Zayed

Big 5

Egyptian property developer SODIC has signed a deal with the country’s New Urban Communities Authority (NUCA) to implement a public-private partnership (PPP) urban project in Sheikh Zayed City, at the outskirts of Cairo.

The fully-fledged flagship, which is spanning over 500 feddans, will be launched within the fourth quarter of 2019, Sixth of October Development and Investment (SODIC) announced in a bourse filling on Thursday.

SODIC plans to sign contracts worth 43 billion Egyptian pounds ($2.5 billion) to execute the project, while NUCA is set to got 15.3 billion pounds from the project within a maximum of 11 years.