SDM for Development and Management, a subsidiary of engineering services company Elsewedy Electric, has won a bid to develop 1.4 mn square meters in Al Sadat City, Invest-Gate reports.

SDM, which is currently under incorporation, has submitted an offer to the Industrial Development Authority (IDA) as part of a tender launched for the development of industrial areas in Al Sadat City, according to a bourse filing.

Elsewedy will reveal more details once the contract is signed with the IDA.