SODIC targets 15.2 bln pounds contractual sales for new flagship

Egypt’s property developer firm SODIC said Sunday it expects to sign contracts of 15.2 billion Egyptian pounds ($863 million), through executing its residential and touristic project in North Coast within a seven-year timeframe.

The new project will be established on two land plots; the first land plot’s space reaches 11 feddans, while the space of the second land plot hits 197 feddans.

In October 2017, SODIC signed a memorandum of understanding (MoU) to attain a new land plot over 300 faddans in North Coast resort.

The company achieved profits worth 598.62 million pounds during the financial year 2016/2017 up from 441.33 million pounds during 2016.