Latest news with #SODIC
Zawya
a day ago
- Business
- Zawya
SODIC hands over VYE project 6 months ahead of schedule
Arab Finance: Sixth of October for Development and Investment Company (SODIC) announced the early delivery of VYE, its next-generation development in New Zayed, according to a press release. This achievement supports the company's position among key real estate developers for ahead-of-schedule delivery. The sustainable scheme is the largest solar-powered residential project in Africa and the second largest in the Middle East. The development is set to deliver 108 units this month, among a total of 1,783 units set for handover throughout 2025. Designed to provide a seamless and integrated living experience, VYE will expand its services with key lifestyle amenities, including the VYE Town Center, scheduled for completion in early 2026. The Karmell Hub will be completed by mid-2026, while a fully equipped community clubhouse will be implemented by the end of 2027. In May, SODIC inked a revenue share agreement with Rula for Land Reclamation for the development of a 1,000-feddan plot in New Sphinx City, located in West Cairo.
Zawya
4 days ago
- Business
- Zawya
Egypt's SODIC begins early delivery of VYE residential project in New Zayed
Egyptian developer SODIC announced on Tuesday that it has commenced early handovers of units at VYE, its flagship residential development in New Zayed. The 108 units being delivered in June forms part of over 1,700 units scheduled for delivery throughout 2025, the EGX-listed developer said in a press statement. VYE is positioned as a next-generation, sustainable community and is home to the largest solar-powered residential project in Africa and the second largest in the Middle East. 'Delivering VYE ahead of schedule is more than just a construction milestone; it reflects our unwavering commitment to our clients,' said Ayman Amer, General Manager at SODIC. Life style amenities scheduled for delivery include the VYE Town Centre (early 2026), the Karmell Hub (mid-2026), and a community clubhouse set for completion by end-2027. SODIC is majority-owned by the Abu Dhabi-based consortium of Aldar and ADQ with Aldar being the controlling investor (70 percent) in the consortium. (Writing by Marwa Abo Almajd; Editing by Anoop Menon) (
Zawya
4 days ago
- Business
- Zawya
SODIC delivers VYE six months ahead of schedule
Cairo, Egypt – SODIC, Egypt's leading real estate developer, proudly announces the early delivery of VYE, its pioneering next-generation development in New Zayed. This milestone comes in line with SODIC's stellar reputation for timely and ahead of schedule delivery, which the developer has maintained for almost three decades. Designed around the pillars of innovation, sustainability, and technology-driven living, VYE is home to the largest solar-powered residential project in Africa and the second largest in the Middle East, setting a new benchmark for future-ready living. With over 108 units scheduled for handover this month, contributing to a total of 1,783 units set for delivery throughout 2025. Ayman Amer, SODIC's General Manager commented stated: 'Delivering VYE ahead of schedule is more than just a construction milestone; it reflects our unwavering commitment to our clients. We are proud to deliver the first homes in New Zayed, with VYE being exemplary for how sustainable, technology-enabled communities can be delivered with precision and purpose. This early delivery reaffirms our focus on execution, quality, and delivering real value to our customers.' Master-planned by internationally acclaimed architects, VYE is thoughtfully designed to offer a seamless, integrated living experience. The community is set to expand with key lifestyle amenities including the VYE Town Center, scheduled for completion early 2026, the Karmell Hub mid-2026, and a fully equipped community clubhouse by the end of 2027. Strategically located in the heart of New Zayed, one of Egypt's fastest-growing destinations, VYE offers direct access to major highways and is just minutes away from Sphinx International Airport, making it not only a home but a smart, connected lifestyle choice.
Zawya
13-05-2025
- Business
- Zawya
Egypt: SODIC inks revenue share agreement with Rula for Land Reclamation
Arab Finance: Sixth of October for Development and Investment Co. (SODIC) has signed a revenue share agreement with Rula for Land Reclamation for the development of a 1,000-feddan plot in New Sphinx City, located in West Cairo, as per a disclosure. The project, once completed, is expected to generate over EGP 353 billion in sales. Under the terms of the agreement, Rula for Land Reclamation will receive a 21% share of the project's revenues, while SODIC will retain the remaining 79%. This new agreement significantly expands SODIC's land holdings, doubling the company's undeveloped land bank from 4 million square meters to over 8 million square meters. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
13-05-2025
- Business
- Zawya
SODIC signs revenue-sharing agreement to develop 1,000 feddans in Egypt's New Sphinx City
Egypt - Sixth of October for Development and Investment Company (SODIC) has signed a revenue-sharing agreement with Rula for Land Reclamation to develop a 1,000-feddan land plot in New Sphinx City, located in West Cairo. The strategically situated plot lies at Kilometer 54 in New Sphinx City, just 15 minutes from SODIC West, the company's flagship mixed-use development in the area. The project planned for the site is expected to generate over EGP 353bn in sales. Under the terms of the agreement, Rula will receive a 21% share of the project's revenues, with the remaining 79% allocated to SODIC. Commenting on the deal, Ayman Amer, SODIC's General Manager, stated: 'The 1,000-feddan plot is an exciting addition to SODIC's portfolio in West Cairo, a market where SODIC has always held a strong fort as a distinguished developer of upscale homes. The newly acquired plot has doubled SODIC's undeveloped land bank from 4 million sqm to over 8 million sqm.' The agreement reinforces SODIC's position as a key player in the West Cairo real estate market and underscores the company's strategy to expand its land portfolio in high-growth areas.
