SODIC
OCDI
-2.60%
44.56
-1.19
OCDI
Egypt’s property developer Sixth of October Development & Investment Company (SODIC) announced on Sunday that its wholly owned subsidiary SOREAL for Real Estate Development has signed a contract with the Ministry of Housing and New Urban Communities Authority (NUCA) for the official delivery of a 301-acre land plot allocated for the company in New Cairo.
The contract was signed by Ahmed Badrawi, Managing Director, SODIC and Magdy Farahat, Vice Chairman, NUCA.
SODIC said, in a statement, that it will launch a tender for contracting firms early 2015 to execute a mega project on the 301-acre land area.
SODIC is currently planning the launch of the first phase of "Villette," the project planned for the 301 acre land, which has been master-planned by SWA, a renowned American company specializing in master-planning. Villette will be developed as an integrated community offering approximately 2000 units, ranging from apartments to stand-alone villas, as well as, a vibrant downtown area. The project is planned to create over 20,000 jobs over the span of its development with investments of over EGP 7 billion.
The 301-acre plot of land strategically located in the heart of New Cairo directly off Road 90 is planned for a mixed-use development of over 2000 units and is expected to create over 20,000 jobs over the course of its six year development time plan.
The contract was signed by Ahmed Badrawi, Managing Director, SODIC and Magdy Farahat, Vice Chairman, NUCA.
SODIC said, in a statement, that it will launch a tender for contracting firms early 2015 to execute a mega project on the 301-acre land area.
SODIC is currently planning the launch of the first phase of "Villette," the project planned for the 301 acre land, which has been master-planned by SWA, a renowned American company specializing in master-planning. Villette will be developed as an integrated community offering approximately 2000 units, ranging from apartments to stand-alone villas, as well as, a vibrant downtown area. The project is planned to create over 20,000 jobs over the span of its development with investments of over EGP 7 billion.
The 301-acre plot of land strategically located in the heart of New Cairo directly off Road 90 is planned for a mixed-use development of over 2000 units and is expected to create over 20,000 jobs over the course of its six year development time plan.
Source:
Mubasher