Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) aims at generating EGP 57.8 billion revenues from SODIC East project over10 years.
The joint project between SODIC and Heliopolis Company for Housing and Development is set to be built on 655-acre land in New Heliopolis, comprising around 8500 housing units, SODIC highlighted in a statement to the Egyptian Exchange (EGX) on Tuesday.
The projected revenues do not include revenues from commercial and administrative units, services' entities, and the club, the company indicated.
Almost 348 units of SODIC East’s first phase were sold and booked at a value of EGP 1.8 billion, the company said.
The success of the project’s first phase, in which the company sealed about EGP 1.5 billion contracts, will contribute to achieving the target contracts of about EGP 5.6 billion in 2017, according to the statement.
Managing director of SODIC Majid Sharif had previously said that SODIC achieved sales of EGP 1.8 billion from its project SODIC East in New Heliopolis.
