SODIC (Sixth of October Development & Investment Company) (OCDI.CA) announced on Sunday an agreement worth EGP 79 million with Juhayna Food Industries Co. (JUFO.CA) providing Juhayna with an entire building, comprising of 7,016 sqm in SODIC’s the Polygon Business Park. The location will be used by Juhayna as the new premises of their headquarters. The announcement was made by Maher Maksoud, Managing Director, SODIC and Safwan Thabet, Chairman and Managing Director, Juhayna, on location at The Polygon.
The Polygon is conveniently located on the Cairo-Alexandria Desert Road and is among the neighborhoods of Westown, which is designed to be the urban heart of SODIC West. SODIC West is the largest planned mixed-use development in Egypt’s Sheikh Zayed area and is double the size of Zamalek, boasting 3,000 residents today and a catchment area of 60,000 people. SODIC West also benefits from government-led investments in transportation systems and infrastructure such as the 26th of July Mehwar and the soon to be developed Rod El Farag highway.
Commenting on the agreement, Maher Maksoud, Managing Director, SODIC, said “We are proud that The Polygon will now be home to one of Egypt’s home-grown business champions. Juhayna is a respected company and we believe that other impressive institutions will follow suit.”
Commenting on the move of its headquarters, Safwan Thabet, Chairman and Managing Director, Juhayna, said “Our move to the Polygon aligns with our recent expansion strategy to maintain our leading role in the foodstuff market. We are a growing company and it is only fitting that we reflect this growth in our working space while also economically supporting an Egyptian real estate company. This deal is good for us as a company, good for SODIC as a developer and good for the economy at large: in short, it’s simply good for business.”
Combining easy access offices, an efficient indoor and outdoor working experience, flexibility of space, ample parking space, full security and the latest built-in office technologies, The Polygon Business Park will change the quality of Cairo’s business life and begin to meet the growing demand of office space in the city.