Cairo – Mubasher: Sixth of October for Development and Investment Company (SODIC) on Sunday announcing signing a non-binding memorandum of understanding (MoU) to develop a 300-acre land in the North Coast with the land owner.

Due diligence is currently being prepared to reach an agreement regarding the land, the real estate firm noted in a statement to the Egyptian Exchange (EGX).

The Egyptian property developer added that it was performing a pre-investment study of several lands located in western and eastern Cairo to boost its portfolio of land development and carry on with its expansion plans.