ArabFinance: Six of October Development and Investment (SODIC) (OCDI) announced the sale of 1500 units in Villette Sodic project with value about EGP 8 billion, according to the company's statement filed to the Egyptian Exchange.

The targeted sales of the project amount EGP 5 billion, the company added.

In 2014, Six of October Development and real estate projects (SOREL) began the establishment of Villette Sodic on the area of 301 acres in the luxurious district in New Cairo.

Moreover, SOREL signed medium-term credit facility worth EGP 2.57 billion signed medium-term credit facility worth EGP 2.57 billion with the Arab African International Bank.

SODIC reported consolidated net profit of EGP 27,853,503 in in Quarter one (Q1) of 2020, an 83% decrease from EGP 161,206,019 achieved in Q1 2019.

Nevertheless, standalone net loss reached EGP 79,180,368 in Q1 2020, a198% rise from EGP 26,589,699 incurred Q1 2019.

Established in 1996 and listed on EGX in 1998, SODIC operates within the real estate sector, focusing on development projects and operations.

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