SODIC Buys Agricultural Firm For £E 312.6 Million

Sixth of October Development and Investment (SODIC), Egypt's third largest real estate developer by market value, announced on Wednesday that it has bought 1.36 million square metres of land from El Yousr Company for Projects and Agricultural Development. The deal was worth £E 312.6 million.

The property was along the Cairo-Alexandria desert road and near SODIC’s existing projects. The purchase had brought its total land holdings to 5.1 million square metres along the desert road and 1 million in New Cairo.

About SODIC

Sixth of October Development & Investment Company (SODIC) is an Egypt-based company engaged in investment and real estate development projects. The Company's activities include acquiring properties, contracting, developing and selling and/or renting them to interested parties. The Company's development projects include building commercial and industrial centers, residential areas and hotel resorts and complexes. SODIC's subsidiaries are SODIC Real Estate Services Company, which is involved in real estate marketing and brokerage, maintenance and security services for residential and commercial buildings.