Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) has signed a memorandum of understanding (MoU) to develop another 300-acre land in the North Coast with the land owner.
Due diligence is currently being prepared, the real estate said in a filing to the Egyptian Exchange (EGX) on Sunday.
After signing this MoU, SODIC noted that it would obtain a 600-acres land in the North Coast.
The EGX-listed firm had previously posted in September signing a MoU to obtain a 300-land in the North Coast.
It worth mentioning that SODIC achieved profits of EGP 129.5 million in the three months ended June 2017, up from EGP 103.12 million in the prior-year period.
By the end of Thursday’s trading session, SODIC’s stock added 0.69% to EGP 14.55.
