Cairo – Mubasher: Six of October Development and Investment (SODIC) announced that its fully-owned unit, Al Yosr for Projects and Agricultural Development, obtained the New Urban Communities Authority's (NUCA) approval on the master plan of its project in Sheikh Zayed.
Accordingly, SOSIC is expected to launch ‘The Estates’ project during the fourth quarter of 2019, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
Situated over 630,000 square metres, the project is forecast to generate sales of more than EGP 7 billion within eight years, boosting SODIC’s portfolio in West Cairo.
During the first half of 2019, SODIC’s profit slumped to EGP 337.9 million from EGP 374.09 million in the year-ago period.
