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Sodic ... plans big residential projects.

Sodic wins prime land in Egypt tender

CAIRO, September 23, 2015

Leading Egyptian developer Sodic has secured more than 31 feddans (130,200 sq m) of prime residential land in a tender at the 6th of October City in urban Cairo, said a report.

The prime piece of land in Giza Governorate, a satellite town and part of the urban area of the Egyptian capital, was offered to the company by the New Urban Communities Authority (Nuca) in a tender, reported Daily News Egypt.

Sodic will be paying E£211 million ($27 million) for the land over the next four years, said the report, citing Nadin Okasha, a company offical.

The Egyptian developer aims to use the land for building residential projects, stated Okasha.

Sodic had earlier said that it will be pump in E£2-2.5 billion ($254 to $318 million) for its key projects, of which approximately E£1 billion ($127 million) will go towards contracting.




Tags: Egypt | tender | Sodic |

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