Global pressure mounts on Israel as Gaza death toll surges, war deepens    Egypt targets 7.7% AI contribution to GDP by 2030: Communications Minister    Irrigation Minister highlights Egypt's water challenges, innovation efforts at DAAD centenary celebration    Egypt discusses strengthening agricultural ties, investment opportunities with Indian delegation    Al-Sisi welcomes Spain's monarch in historic first visit, with Gaza, regional peace in focus    Cairo governor briefs PM on Khan el-Khalili, Rameses Square development    El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary    Egypt's gold prices fall on Wednesday    Egypt expands medical, humanitarian support for Gaza patients    Egypt condemns Israeli offensive in Gaza City, warns of grave regional consequences    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    Egypt condemns terrorist attack in northwest Pakistan    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



SODIC wins 31 feddans land plot in 6th of October City
Total cost of land amounts to EGP 211m, to be paid over four years, says PR Director
Published in Daily News Egypt on 20 - 09 - 2015

The Sixth of October Development and Investment Company (SODIC) won land extending to approximately 31 feddans in 6th of October City, the company announced in a Sunday statement.
Nadin Okasha, PR Director at SODIC, told Daily News Egypt that the cost per metre for the land stands at EGP 1,677, with a total cost of EGP 211m to be paid over four years.
Plans for development however have, as yet, not made, although the land will be established as a residential plot, Okasha said.
The piece of land was offered by the New Urban Communities Authority (NUCA) in a tender, with the receiving of technical envelopes commencing on 28 April.
SODIC's net profit for the first half (1H) of 2015 has increased by 25%, registering EGP 146m out of EGP 585m in revenues.
The company said its achieved sales during this period were on track to achieving their sales target of 2015, as projects in East Cairo continue to see "strong demand". This is reflected in net contracted sales growing by 32% year-on-year (YoY) to reach EGP 2bn; deliveries were also on schedule across eight projects.
In October 2014, SODIC announced its plans to invest EGP 2bn-EGP 2.5bn in 2015, of which approximately EGP 1bn will go towards contracting. Furthermore, Omar Elhamawy, SODIC's Chief Financial Officer, told Daily News Egypt last June that the company has spent approximately EGP 400m in executing its projects, adding that "hopefully we will meet our target by the end of the year".
In February, Ahmed Badrawi, SODIC's Managing Director, told Daily News Egypt that the company's unutilised land stands at approximately 3.5m sqm; around 600,000 sqm has been used for the Westown project, and some 600,000 sqm was set aside for Eastown. Badrawi added that approximately 1.3m sqm is being used for Villette, and the Al Yosr land is at around 1.2m sqm.


Clic here to read the story from its source.