Cairo – Mubasher: Six of October Development and Investment (SODIC) announced that it has recorded contractual sales of EGP 500 million from Allegria Residence project.

SODIC had launched the first phase of Allegria Residence, which features 83 residential units, on 25 March under its SODIC West project located in Western Cairo.

The Egypt-based leading property developer is planning to launch Six West project, which has seven buildings facing SODIC Sports Club (SSC), in April, in addition to Residence 7 under its Villete Compound project in New Cairo, according to a statement.

SODIC West, which embraces over 15,000 residents, features a wide range of housing units, as well as educational, commercial, and retail amenities including the British International School in Cairo, SSC, and Westown Hub.

In March, SODIC said its consolidated net profit fell by 24.7% year-on-year in 2018 to EGP 450.9 million, versus EGP 598.6 million, including minority shareholders’ rights.