Property developer SODIC’s 2018 expected contracts to rise 14%

Egypt’s property developer firm, SODIC said on Wednesday it has changed its expectations for clients’ contracts to 6.5 billion Egyptian pounds ($362.1 million) within this year, making a 14 percent growth.

The clients’ current-year estimated contracts dropped by 25 percent, compared with what was previously expected by the company.

In January, the company planned to sign contracts worth around 8.7 billion pounds for the current year.

SODIC achieved net profit of 374.09 million pounds during the January-June 2018 period from 341.5 million pounds during the same period in 2017.