SODIC, CIB sign cooperation protocol for mortgage financing

Tue, 07 Sep 2021 - 03:17 GMT

The protocol includes providing various payment systems for the units that were delivered in accordance with the provisions and rules of the Egyptian Mortgage Finance Law, allowing the purchase of ready-to-delivery units available for sale in the various SODIC projects over a payment period of up to 20 years.

SODIC announces success of its 1st issuance of LE 343M securitization bonds

Tue, 27 Jul 2021 - 02:00 GMT

The securitization bonds worth LE 343 million are secured by a portfolio of notes worth LE 384 million, representing the value of the special future installments of 753 units that were delivered in the Eastown Residences project in East Cairo, and the Caesar project in the North Coast.

Orange Egypt Signs A Cooperation Agreement with SODIC to Provide Smart Integrated Solutions Systems within Its Projects

Wed, 16 Jun 2021 - 12:37 GMT

Orange Egypt, the leading provider of integrated telecommunications services, signed a cooperation agreement with Six of October Development and Investment Company (SODIC)

SODIC appoints financial advisors to study the UAE's "Aldar Properties" bid

Thu, 15 Apr 2021 - 02:47 GMT

The company said in a statement to the Egyptian Exchange (EGX) that the offer included a potential cash acquisition of a stake of not less than 51 percent of the issued company’s capital.

Emirati "Aldar" bidding to acquire majority stake in Egyptian "SODIC"

Mon, 15 Mar 2021 - 12:08 GMT

SODIC added in a statement to the Stock Exchange, Sunday, that the estimated purchase price is between LE 18 and LE 19 per share, through a compulsory purchase offer on the entire company's shares.

Talaat Moustafa Group, Egypt's most powerful real estate company

Tue, 09 Feb 2021 - 10:53 GMT

The infographic results were based on 3 main indicators, which are the volume of the land and assets portfolio, revenues, and the contractual sales .

1st book fair in Sheikh Zayed to be held on December 24

Mon, 21 Dec 2020 - 02:30 GMT

The Rotary Club of Sodic in Sheikh Zayed holds the first book fair from December 24 to 31, with the participation of a number of publishing houses.

Arab African International Bank and SODIC Sign LE 2.57B Medium-Term Facility Package to Finance Villette Project

Sun, 27 Sep 2020 - 01:08 GMT

Arab African International Bank “AAIB” has signed a medium-term facility package worth EGP 2.57Bn, with SOREAL, an affiliate of SODIC

SODIC’s merger offer with MNHD is over

Wed, 23 Jan 2019 - 02:40 GMT

In a filing to the Egyptian Exchange (EGX), MNHD attributed the decline of negotiations to disagreement on the terms of the swap transaction.

Business News Wrap-up

Sun, 20 May 2018 - 05:00 GMT

A wrap-up of the most prominent business news of the day.

SODIC, Madinet Nasr appoint advisors for cooperation

Sun, 20 May 2018 - 10:38 GMT

EFG Hermes, Zaki Hashem & Partners - Attorneys at Law are going to be the advisors to Madint Nasr, while CI Capital and MHR & Partners (White & Case) will be SODIC’s advisors.

Business News Wrap-up

Wed, 11 Apr 2018 - 05:19 GMT

A wrap-up of the most prominent business news of the day.

SODIC, Madinet Nasr Housing gain after acquisition offer

Wed, 11 Apr 2018 - 03:45 GMT

Madinet Nasr Housing topped the gainer list of the session at 12.60 percent after trading on 13.86 million shares with a turnover of LE 199.5 million.

SODIC welcomes Madint Nasr’s offer for merging or acquisition

Wed, 11 Apr 2018 - 12:38 GMT

SODIC clarified that the discussions will bring benefits and synergies to both companies.

SODIC signs 308 feddan revenue share deal on Egypt’s North Coast

Sun, 11 Mar 2018 - 04:57 GMT

The 308 feddans are expected to generate total sales of LE 15.2 billion and come in line with SODIC’s expansion plans in second home markets.

SODIC profits hike 52.9% in third quarter of 2017

Wed, 15 Nov 2017 - 02:43 GMT

SODIC’s revenues stood at LE 583.8 million, compared to LE 531.5 million in Q3 of 2016.

SODIC unit, AAIB ink deal to raise credit facility to LE1.4B

Thu, 24 Aug 2017 - 10:08 GMT

SOREAL for Real Estate Development had inked a LE 950 million medium-term loan with the bank in July to finance Villette project.

SODIC posts LE 342M profits, Revenues hit LE 1.17B in H1

Thu, 17 Aug 2017 - 03:43 GMT

Total revenues went up to LE 1.17 billion in H1 of 2017 from LE 624 million in H1 of 2016 and hit LE 469 million in Q2 of 2017, increasing from LE 436.7 million in the year-ago period.

Sodic, Vodafone ink partnership deal to launch ‘Sodic GoSmart’

Tue, 01 Aug 2017 - 10:27 GMT

Sixth of October Development and Investment Company (Sodic) and Vodafone Egypt signed a partnership deal to launch ‘Sodic GoSmart’ service.