Cairo – Mubasher: Six of October Development and Investment (SODIC) has offered the first phase of the 500-feddan “VYE” project in New Sheikh Zayed City for sale.

Sales in the first phase have registered EGP 1 billion in just two days, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

The company expects VYE project with all its phases to generate sales of EGP 43 billion, the statement showed.

Earlier in 2019, SODIC signed a partnership agreement with the New Urban Communities Authority (NUCA) to develop “VYE” project.

It is noteworthy that during the first nine months of 2019, the real estate developer logged a net profit of EGP 506.09 million, compared to EGP 612.9 million in the year-ago period, including minority shareholders’ rights.