SODIC announces successful completion of US$21.79m 1st issuance security bond

EGYPT – Sixth of October Development and Investment (SODIC) announced the success of its subsidiary SODIC Securitization in completing the first issue of securitization bonds worth LE 343 million (US$21.79m). The company explained in a statement to the Egyptian Exchange that securitization bonds worth LE 343 million (US$21.79m) are secured by a portfolio of notes worth LE 384 million (US$24.40m), representing the value of the special future instalments of 753 units that were delivered in the Eastown Residences project in East Cairo, and the Caesar project in the North Coast.…

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Orange Egypt to provide SODIC’s customers with value-added services

EGYPT – Orange Egypt, a telecommunications services provider, has signed a cooperation agreement with Six of October Development and Investment Company (SODIC), to provide a variety of services that keep pace with the technological updates and development needed for residential compounds’ customers. The services will provide them with value-added services that will contribute to the development of the real estate market and its lifestyle. The agreement entails the provision of Orange Triple Play services; “high-speed Internet, IPTV and landline services”, in addition to the provision of IoT, Smart Homes, and…

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Real estate company Aldar Properties offers to buy majority stake in SODIC

EGYPT – Aldar Properties PJSC, a real estate development, management and investment company, has offered to buy a majority stake in Egypt’s Sixth of October for Development & Investment Co. (SODIC) as it looks to expand into the country. The offer values the Egyptian property developer, Sodic, at about US$420 million. Aldar is seeking a minimum 51% stake in Sodic, with an indicative purchase price of 18-19 Egyptian pounds per share. Aldar, which primarily operates in Abu Dhabi, has been looking to expand abroad as it faces limited growth prospects…

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Real estate agent SODIC partners with AAIB to launch e-payment solutions

EGYPT – SODIC, a real estate agent, has signed a partnership agreement with the Arab African International Bank (AAIB) to provide its clients with e-payments solutions accessed through the developer’s website. The agreement entails that the AAIB provides a payment gateway that allows clients an e-payment option for their home installments and any other payments against services or products offered by SODIC, ensuring a convenient, safe and secure payment alternative. “The partnership comes as part of SODIC’s digital transformation plans where we are moving towards digitising all internal and customer…

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