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SODIC inks contract for 301-acre land area in New Cairo

SODIC inks contract for 301-acre land area in New Cairo
SODIC
OCDI
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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.