21 October, 2019

Egypt's SODIC awards construction contracts in SODIC East

Mixed-use development on track to start delivery in Q4 2021

A car drives past Egyptian developer SODIC headquarters building on the outskirts of Cairo, Egypt November 13, 2016.

A car drives past Egyptian developer SODIC headquarters building on the outskirts of Cairo, Egypt November 13, 2016.

REUTERS/Amr Abdallah Dalsh

21 October 2019
Egyptian developer SODIC announced on Monday that it has awarded construction contracts worth over 300 million Egyptian pounds ($18.5 million) to date in SODIC East, the company's largest mixed-use development in East Cairo.

The project, which broke ground last year, is on track for delivery starting November 2021, the developer said in a press statement.

The statement said the developer has appointed experiential learning company Wellspring for the activation of the camp component of the project's six-acre youth and community outdoor park and is contracting Emirates to bring its service and retail complex to the project including its affiliated outlets.

It said talks are in advanced stages with operators for the entertainment and adventure components of the project as well as school operators and partners for medical services.

The 655-acre SODIC East spans 655 is master-planned by Massachusetts based Sasaki and is being co-developed with Heliopolis Company for Housing and Development, according to the press statement.

(1 US Dollar = 16.19 Egyptian Pounds)

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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