SODIC Calls AAIB to Arrange EGP1.1 bln Loan
Amwal Al Ghad was informed from many banks sources the progress which will be requested from Sixth of October for Development and Investment Company (SODIC) to Arab African International Bank (AAIB) in order to arrange a loan ranging from EGP 900 million to EGP 1.1 billion to complete its expansion in 6th of October City.
The sources pointed out that the company is targeting to continue ‘Westown’ a housing project in addition, “Forty West” projects, which includes building for administrative business, corporate and residential extension and it is expected to start work within the next November.
An official source in bank credit sector said AAIB began to marketing loans and offered them to all banks during the past month but we did not receive any response from the banks till now.”
SODIC has achieved remarkable sales up EGP 1.65 billion in the first half of 2013, as the same sales of 2012.
The sales of SODIC reached EGP 648.7 million in the first half of 2012 but in the entire of 2012 it reached EGP 1.6 billion.
