Latest in Tag: SODIC Highlight
Latest in Tag: SODIC
Travel bans on 6 Mubarak-era businessmen lifted by court order
Some already freely move around, despite ongoing trial
SODIC expects EGP 4.5-5bn in contracted sales in 2016
Company hopes to start sales in North Coast project by end of this summer
SODIC impacts over 12,000 lives in past 2 years through CSR: Nadine Okasha
When it comes to our education programmes, we need a lot of government support, says Senior PR Manager
SODIC targets coastal investment before 1H of 2015
Company eyes both Ain Sokhna and the North Coast
Additional EGP 500m investments expected for new opportunities: SODIC managing director
Cash flow for next five years expected to be EGP 17bn, company is interested in coastal opportunities, says Ahmed Badrawi
SODIC estimate clients’ contract to be EGP 4.1bn
Company to invest EGP 2.3bn and deliver 684 units in all projects
SODIC to invest up to EGP 2.5bn in Egypt real estate
Earlier this year SODIC agreed to pay EGP 900m to the Egyptian government over seven years after reevaluating the East town project in Cairo.
Larger stake in Palm Hills sought: Ripplewood CEO
Collins affirms commitment to support Egypt’s economic recovery, interest in more opportunities in the country
SODIC, CIB sign EGP300m loan for Westown project
Project expected to yield around EGP1.3bn, company says
Ripplewood deal boosts optimistic expectations for Egyptian real estate market growth
SODIC is one of the largest real estate development companies listed on the Egyptian Stock Exchange, launching projects targeting strata that earn above-average income.
Correction: SODIC registers EGP 477m net loss in 2013
The Daily News Egypt reported yesterday that real estate company Sixth of October Development and Investment (SODIC) reported a net profit of 229m, however, 2013 actually ended with a net loss of EGP 447m. “The company actually made a net loss. This [229m net profit] would have been the figures if not for the take-offs,” …
Egypt’s SODIC settles with government over Eastown project
Reuters – Property developer SODIC has signed a dispute settlement with Egypt’s government, agreeing to pay EGP 900m ($129m) over seven years after a revaluation of its Eastown scheme in Cairo, the company said on Tuesday. Egypt’s investment minister Mounir Fakhry Abdel Nour said on 6 April that SODIC had revalued land bought from the …
Government resolves dispute with developer SODIC: Minister of Industry
Reuters – Egypt has settled a dispute with SODIC over the property developer’s Eastown scheme after the firm agreed to pay EGP 900m ($129m) in installments over about seven years, the Minister of Industry and Foreign Trade said on Sunday. “The dispute is closed,” Mounir Fakhry Abdel Nour said of the legal dispute over the …
Cabinet tackles energy, construction issues; investor disputes
Cabinet approves investor settlement and petroleum agreements, allocates money for electricity and construction
AUC entrepreneurship programme sparks award-winning ideas
Entrepreneurs developed an unmanned mine detector, an educational cartoon, and a smartphone add-on that helps the blind detect obstacles – among other things
SODIC registers EGP 2.7bn sales revenues in 2013
Construction company aiming to invest EGP 1bn in 2014
SODIC to receive EGP 900m loan to finance SODIC West
Developer to re-finance outstanding debts
AUC, SODIC and AAIB encourage startup companies
Incubated teams receive EGP 20,000 to develop their projects
Former housing minister acquitted
Ibrahim Soliman acquitted after 24 months on remand, to be retried on 19 May
SODIC books EGP 1.8bn in sales during 2012
CEO announces profits at Cityscape real estate exhibition, states that SODIC will deliver seven projects in 2013
EFG Hermes: Egypt’s economy will grow 3.5% in 2013
The acceptance of Egypt’s pending IMF loan will have a positive effect on the economy and there will be an increase in tourism and FDI throughout the year, says EFG
SODIC: no litigation against us
The Sixth of October for Development and Investment Company (SODIC), Egypt’s third largest real estate developer, reported to the Egyptian Stock Exchange that no lawsuits were filed against them by the Lebanese multinational real estate developer Solidere. According to AhramOnline’s report on Tuesday; Beltone, a Cairo-based investment bank, stated that Solidere announced Sunday its plans …
SODIC swings to 2011 net loss
Ehab Farouk and Tom Pfeiffer / Reuters CAIRO: Egyptian real estate developer SODIC said on Tuesday it fell to a net loss last year, when the industry was thrown into turmoil by challenges to state land sales and a mass uprising. SODIC, the country’s third-biggest listed developer, reported a loss of LE 193 million ($31.96 …
SODIC sees no impact from ruling against ex-chairman
By Dina Zayed / Reuters CAIRO: Egypt’s SODIC, the country’s third-biggest listed developer, said on Tuesday a court ruling that fined and sentenced its former chairman to prison over graft charges would have no impact on its shareholders or its assets. A court on Thursday sentenced Magdi Rasekh, father-in-law of ousted President Hosni Mubarak’s eldest son …
SODIC agrees to develop Cairo project in 3 years
By Dina Zayed / Reuters CAIRO: SODIC, the country’s third-biggest listed developer, has agreed with the authorities to develop projects on its land bank in West Cairo within three years, in a move that protects the assets from possible legal challenge. SODIC, a luxury property developer, has been spared much of the legal uncertainty over ownership …
SODIC registers sales of $96 mln to end-Sept
CAIRO: SODIC, Egypt’s third-biggest listed real estate firm, registered almost LE 570 million ($95.6 million) worth of sales to the end of September, the firm said in a statement on Sunday. SODIC said it would disclose a definitive sales figure, factoring in cancellations and other changes, with its financial results for the third quarter. The …