Cairo – Mubasher: Six of October Development and Investment (SODIC) announced that it has awarded construction contracts worth more than EGP 300 million to date to develop its SODIC East project.

In 2018, SODIC launched the first phase of its project located in east Cairo and generated EGP 2 billion in sales of single family homes, according to a statement on Monday.

Construction works have started in all launched phases and delivery is expected to start in November 2021, the statement showed. 

The real estate developer also unveiled its partnership with the experiential learning leader Wellspring to manage the camp component to be established in SODIC East’s park which spans over 6 acres.

Emirates has also been contracted to build a service and retail complex including its affiliated outlets in the project.

In addition, SODIC is in advanced negotiations with operators for SODIC East’s entertainment, education, medical services.  

Master-planned by US-based Sasaki, the mixed use development covers an area of 655 acres and 84% of which are open and green areas.

Situated between Suez and Ismailia desert roads, SODIC East is a developed in partnership with Heliopolis Company for Housing and Development.

It is noteworthy that during the first half of 2019, SODIC logged a net profit of EGP 337.9 million, compared to EGP 374.09 million in the year-ago period.