Six of October Development & Investment Co. (SODIC) announced posting a legal memo at Cairo Regional Centre for International Commercial Arbitration against Solidere International Co. to recall a contract between both companies. SODIC said that Solidere failed to fulfill its contractual obligations related to the partnership agreement on Sheikh Zayed project.

The developer requests indemnification for contractual violations in order to protect shareholder rights.

According to SODIC’s filing posted on EGX website today, this issue would not impact any of its current or future projects. It stressed a commitment to units delivery dates.