Egyptian-based Sixth of October for Development and Investment Company (SODIC) announces a new credit facility agreement with Commercial International Bank (CIB), Invest-Gate reports.

SODIC and Egypt’s largest private-sector bank CIB signed on August 30 a medium-term credit facility agreement worth EGP 270 mn.

The loan will be used to fund SODIC’s October Plaza compound, located west of Cairo, the company said in a bourse statement. The first phase of the 30.90 feddan compound has been offered for sale in February 2017