Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) has signed two contracts to participate in building and developing tourism residential projects.
The 308-acre projects located in North Coast are expected to achieve total contracts with clients worth around EGP 15.2 billion in seven years, SODIC said in a statement to the Egyptian Exchange (EGX) on Sunday.
The landowner and SODIC will account for 28% and 72%, respectively from the anticipated projects’ total revenues from residential and commercial units, the EGX-listed company indicated.
SODIC has signed a memorandum of understanding (MoU) last October to develop a 300-acre land in the North Coast with the land owner.
