Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) has achieved sales of EGP 1.8 billion from its project SODIC East in New Heliopolis, managing director Majid Sharif told Almal News.
SODIC has sold the 350 units offered as part of the project’s first phase in seven days, Sharif highlighted.
SODIC East is being implemented in partnership with Heliopolis Company for Housing and Development, the owner and general developer of New Heliopolis, he pointed out.
The real estate company is considering investments in the New Administrative Capital in 2018, he added, noting that SODIC would not execute any new projects there unless it achieves the investment feasibility target.
SODIC had previously posted that its consolidated profits rose 52.9% year-on-year during the third quarter of 2017 due to higher revenues.
Net profits amounted to EGP 166.2 million in Q3-17, up from EGP 108.7 million in Q3-16.
