Latest in Tag: SODIC Highlight
Latest in Tag: SODIC
SODIC presents non-binding offer for acquisition of Orascom
ORE owns a 4.2 million square meter plot in West Cairo on which it is currently developing its project O West.
SODIC signs LOI with GOCO to operate âGOCO Retreatâ at The Estates compound
The partnership entails offering hospitality and wellness services to The Estatesâ community.
SODIC achieves record 1H revenues of EGP 2.73bn, up 46% y-o-y
The company achieved revenues of EGP 2.73bn, representing a 46% increase compared to 1H 2021âs EGP 1.87bn.
SODIC submits non-binding offer for the acquisition of up to 100% of MNHD
Headquartered in Cairo and listed on the Egyptian Exchange (EGX), MNHD is an established real estate company that has been operating since 1959. MNHDâs operational focus is in the eastern Cairo area, where its two flagship projects â Taj City and Sarai â are located with a sizeable land bank for expansion opportunities.
SODIC subsidiary signs EGP 600m credit facility contract with Al-Ahli United Bank
The company explained that the signing of the credit contract for deducting checks â or âreceipt papersâ â represents future instalments for units that were delivered in the East Town Residences Project in East Cairo.
SODIC to open civil registry office with premium services in SODIC WestÂ
The new office will begin operating by the end of June and comes as part of the governmentâs digitisation efforts, offering citizens expedited services for their convenience, avoiding congestion and extended waiting periods.
SODIC achieves Q1 gross contracted sales of EGP 3.74bn
Gross contracted sales for the first quarter of the year grew 102% YoY, carrying over the strong momentum of Q4 2021, and recorded EGP 3.74bn, representing 573 units sold across all projects, to set a new record for contracted sales during any first quarter in terms of both number and value of units sold.
SODIC records EGP 11.36bn gross contracted sales with 54% YoY growth in 2021
The Sixth of October Development and Investment Company (SODIC) has released its consolidated financial results for 2021. Gross contracted sales for the year came in at EGP 11.36bn, a 54% growth YoY, generated by the sale of 1,745 units across all projects, setting a new record for annual gross contracted sales in terms of both …
SODIC to establish first Finnish British school in MENA
Finnish system applies phenomenon-based learning, where students study topics holistically
No intention to delist SODIC from EGX after acquisition: Managing Director
Majority of shareholders agreed to sell their shares
Emirati consortium submits compulsory purchase offer to acquire stake in SODIC
The alliance of Aldar Properties listed on the Abu Dhabi Securities Exchange and Abu Dhabi Developmental Holding Company (ADQ) presented a request to the Financial Regulatory Authority (FRA) in Egypt to approve a compulsory purchase offer to acquire up to 90% and not less than 51% of the existing capital of the Sixth of October …
SODIC, CIB ink mortgage finance protocol
Protocol entails providing diverse payment plans for SODICâs delivered units
SODIC acquires 123-feddan extension to its âThe Estatesâ compound in West Cairo
New land plot is expected to add EGP 10bn sales over next 6 years
SODIC offered different location for its residential project in New Zayed
New allocated plot is beside original one, estimated at 440 feddan
SODIC announces completion of first securitisation bonds issuance
The Sixth of October Development and Investment Company (SODIC) has announced the success of its subsidiary, SODIC Securitisation, in completing the first issuance of securitisation bonds worth EGP 343m. In a statement to the Egyptian Exchange (EGX), on Monday, the company said that the securitisation bonds were insured through a portfolio of notes worth EGP …
Aldar Properties requests extended compulsory purchase offer of SODIC shares until due diligence completed
The offer is being made on all shares of the Sixth of October Development and Investment Company (SODIC).
Egyptâs Financial Regulator extends Aldar Propertiesâ MTO deadline for SODIC acquisition
Extension will apply for additional 30 days starting from 14 June
SODIC records strong growth across operational, financial KPIs for Q1 2021
Strength of Q4 2020 carried over, helping company deliver best Q1 on record for gross contracted sales, says Managing Director Maged Sherif
SODIC eyes EGP 8.8bn gross contracted sales in 2021
Companyâs gross contracted sales in 2020 amounted to EGP 7.4bn, up 2% y-o-y
SODIC may appoint IFA to assess its stock fair value following acquisition offer
UAEâs Aldar Properties presents preliminary non-binding offer for majority stake in SODIC
UAEâs Aldar Properties presents preliminary non-binding offer for majority stake in SODIC
Offer for 51% minimum stake in SODIC is subject to due diligence, applicable regulatory approvals, and other conditions
SODIC records EGP 7.4bn in gross contracted sales during 2020
Residential sales grew by 19% driving y-o-y sales growth despite challenging year
SODIC eyes securitising receivables, keeps New Capital on radar to expand land bank
About 40,000 sqm of commercial BUA are expected to come on line in FY 2020/21
SODIC, AAIB sign partnership agreement to provide e-payment solutions
SODIC has signed a partnership agreement with the Arab African International Bank (AAIB) to provide its clients with e-payments solutions accessed through the developerâs website. The agreement entails that the AAIB provides a payment gateway that allows clients an e-payment option for their home installments and any other payments against services or products offered by …
SODIC sells out Karmellâs first phase in New Zayed
Inspired by the Californian town Carmel-by-the-sea, Karmell is designed as a small town themed around easy living.
SODIC, Mobica introduce Work-PlexÂ
This plug and play concept enables clients to start their business with no initial investment, making for an accessible, efficient and hassle-free experience.
SODIC opens new Tawasol Community School in Cairoâs Istabl Antar
Tawasolâs first school provides Ministry of Education certified learning, along with vocational training and an expanded performing arts programme,
EGP 44bn sales expected in New Heliopolisâ SODIC East development
SODIC is currently studying the best offers provided by contracting companies to begin construction works in the project.
SODIC records over EGP 5bn in sales in 10M 2020
The companyâs projects in west Cairo accounted for 60% of total gross contracted sales during the period driven by the strong performance on the next generation projects. VYE contributed 37% of sales, and the Estates contributed 10%. East Cairo made up 39% of the periodâs gross contracted sales, with Villette generating 24% and SODIC East contributing 10%.
SODICâs Eastown District New Cairo remains on schedule for 2021 delivery
Since breaking ground, SODIC has awarded over EGP 1.7bn worth construction contracts in Eastown