Six of October Development and Investment (OCDI)

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News

25 October 2022 10:26 AM Orascom Development Egypt to hire advisors to evaluate SODIC's offer to acquire unit

Cairo – Mubasher: The board of directors of Orascom Development Egypt (ODE) met on Monday, 24 October to discuss the non-binding offer submitted by Six of October Development and Investment (SODIC) to acquire 100% of Orascom Real Estate.  The …

Mergers and Acquisitions

22 September 2022 10:05 AM Aldar Properties eyes new acquisitions in Egypt

Cairo – Mubasher: Aldar Properties has a strategy to expand in Egypt that includes new acquisitions after failing to acquire Madinet Nasr Housing and Development (MNHD), CEO of Six of October Development and Investment (SODIC), Magued Sherif, told …

Real estate

8 September 2022 11:07 AM SODIC relaunches New Zayed project

Cairo – Mubasher: Six of October Development and Investment (SODIC) has relaunched its New Zayed project, which currently spans an area of 464 acres, after being re-master planned. The project had been put on hold due to the re-zoning of New Zayed …

Companies Investments

27 July 2022 03:26 PM SODIC’s profits near EGP 296m in H1-22 results

Cairo – Mubasher: Six of October Development and Investment (SODIC) has logged consolidated net profits after tax worth EGP 295.71 million in the first half (H1) of 2022, higher than EGP 225.84 million in H1-21, including minority shareholders' …

Financial Results

18 July 2022 01:11 PM MNHD's OGM to consider due diligence on SODIC's acquisition request

Cairo - Mubasher: The ordinary general meeting (OGM) of Madinet Nasr Housing and Development (MNHD) will consider the offer made by Six of October Development and Investment (SODIC) to approve due diligence. During the OGM, set to be held on 16 …

Mergers and Acquisitions

5 July 2022 10:59 AM SODIC submits non-binding offer to acquire MNHD

Cairo – Mubasher: Six of October Development and Investment (SODIC) has submitted a non-binding offer for the potential acquisition of Madinet Nasr Housing and Development (MNHD) through a mandatory tender offer. SODIC seeks to acquire up to 100% …

Mergers and Acquisitions

14 June 2022 11:20 AM SODIC's unit inks EGP 600m facility with AUB

Cairo – Mubasher: Six of October For Development and Real Estate Projects (SOREAL), a wholly-owned subsidiary of Six of October Development and Investment (SODIC), has inked an EGP 600 million discounting facility agreement. The agreement was …

Banking and Finance

8 March 2022 00:25 PM SODIC records 5% higher profits in 2021

Cairo – Mubasher: Six of October Development and Investment (SODIC) reported a 4.73% year-on-year (YoY) rise in its consolidated net profits to EGP 865.1 million in 2021 from EGP 825.95 million. The company generated revenues of EGP 6.92 billion …

Financial Results

16 December 2021 03:36 PM Aldar-ADQ consortium completes acquisition of 85.5% stake in SODIC

Mubasher: A consortium comprising Aldar Properties and ADQ has completed the acquisition of around 85.52% of the outstanding share capital of Six of October Development and Investment (SODIC) following a mandatory tender offer (MTO). …

Mergers and Acquisitions

8 December 2021 09:49 AM Aldar-ADQ consortium acquires 85.5% stake in Egypt's SODIC

Mubasher: A consortium comprising Aldar Properties and ADQ will acquire around 85.52% of the outstanding share capital of Six of October Development and Investment (SODIC) following a mandatory tender offer (MTO). The consortium, owned 70% by …

Companies Investments

24 November 2021 09:41 AM Egypt's FRA approves Aldar-ADQ consortium's MTO to acquire SODIC

Mubasher: The Egyptian Financial Regulatory Authority (FRA) has approved a mandatory tender offer (MTO) submitted by a consortium of Aldar Properties and ADQ to acquire up to 90% and a minimum of 51% of the outstanding share capital of Six of …

Mergers and Acquisitions

15 November 2021 04:26 PM SODIC's profit drops 37% in nine months

Cairo – Mubasher: The consolidated net profits of Six of October Development and Investment (SODIC) slid by 36.8% year-on-year (YoY) to EGP 346.95 million in the first nine months of 2021, compared to EGP 549.45 million, including minority …

Financial Results

14 October 2021 00:02 PM SODIC pens EGP 1.57bn syndicated facility with two banks

Cairo – Mubasher: Six of October Development and Investment (SODIC) signed a long-term syndicated facility worth EGP 1.57 billion with Arab African International Bank (AAIB) and Banque Misr (BM) to finance the company’s West Cairo development …

Real estate

14 September 2021 01:41 PM Aldar-ADQ consortium submits MTO to acquire Egypt's SODIC

Abu Dhabi – Mubasher: A consortium comprising Aldar Properties and ADQ has submitted an all-cash mandatory tender offer (MTO) to acquire up to 90% and a minimum of 51% of the outstanding share capital of Six of October Development and …

Companies Investments

14 September 2021 11:05 AM SODIC's unit inks deal to develop 280-acre land in North Coast

Cairo – Mubasher: Six of October Development and Investment (SODIC) announced that its wholly-owned subsidiary Tabrook Development Company has entered into a partnership agreement with Shahin Owners’ Union, represented by Alhassan Tarek Salem, to …

Real estate

7 September 2021 03:25 PM CIB, SODIC ink protocol for mortgage finance

Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) signed a protocol of cooperation with Six of October Development and Investment (SODIC) to provide mortgage finance programmes, the Middle East News Agency (MENA) reported on …

Banking and Finance

29 August 2021 00:05 PM SODIC says new location proposed for New Zayed project

Cairo – Mubasher: Six of October Development and Investment (SODIC) has received a letter from the Sheikh Zayed City Development Authority, stating that a new location for its new project in New Zayed has been proposed to the board of directors …

Real estate

25 August 2021 00:05 PM SODIC's profit soars 203% in H1-21

Cairo – Mubasher: Six of October Development and Investment (SODIC) recorded a 203% year-on-year (YoY) surge in its consolidated net profits, logging EGP 225.84 million in the first half (H1) of 2021, compared to EGP 74.51 million, including …

Financial Results

27 July 2021 00:01 PM SODIC closes first securitisation bond issuance worth EGP 343m

Cairo - Mubasher: Six of October Development and Investment (SODIC) announced that its wholly-owned subsidiary SODIC for Securitization closed its first securitisation bond issuance of EGP 343 million backed by a receivables portfolio worth EGP …

Bonds

25 July 2021 01:32 PM UAE’s Aldar Properties gets another deadline extension to bid for SODIC

Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request by the UAE’s Aldar Properties to extend the deadline for submitting a mandatory tender offer (MTO) to fully acquire Six of October Development and Investment …

Mergers and Acquisitions

18 July 2021 11:53 AM SODIC to change location of 500-acre project in New Zayed

Cairo - Mubasher: Sixth of October Development and Investment Company (SODIC) has received a letter from the Ministry of Housing, Utilities, and Urban Communities regarding the 500-acre land plot in New Zayed. The land plot, currently being …

Real estate

8 June 2021 00:21 PM Aldar Properties gets deadline extension to submit SODIC’s acquisition offer

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) received a request from the UAE’s Aldar Properties to extend the deadline for submitting a mandatory tender offer (MTO) to fully acquire Six of October Development and Investment …

Real estate

31 May 2021 11:31 AM SODIC's profit hikes 235% in Q1-21

Cairo – Mubasher: Six of October Development and Investment (SODIC) recorded net profits of EGP 100.46 million in the first quarter (Q1) of 2021, up by 235% year-on-year (YoY) from EGP 30.006 million, including minority shareholders’ rights. The …

Financial Results

25 April 2021 01:56 PM SODIC's shareholders approve EGP 0.55/shr dividends for 2020

Cairo – Mubasher: The ordinary general meeting (OGM) of Six of October Development and Investment (SODIC) approved a cash dividend of EGP 0.55 per share for 2020. The shareholders also approved distributing EGP 19.2 million in profit share for …

Corporate Actions

15 April 2021 00:03 PM SODIC hires financial advisors to study acquisition offer by Aldar Properties

Cairo – Mubasher: The board of directors of Six of October Development and Investment (SODIC) approved the appointment of EFG Hermes and an international investment bank as financial advisors to study the preliminary acquisition offer submitted by …

Real estate