Sixth of October Development and Investment Company (SODIC) has so far awarded construction contracts worth over EGP 300 mn for its SODIC East, the company’s largest development in east Cairo, Invest-Gate reports.
The EGX-listed real estate developer had broken ground on SODIC East last year, following the successful launch and sell out of EGP 2 bn single-family homes of the project, according to a press release on October 22.
With all the launched phases now under construction and ongoing progress ahead of schedule, SODIC East is on track for delivery starting November 2021, the company highlighted.
Allocated for youth and community outdoor activation, SODIC East’s park aims to be the first camping site of its size in Egypt and will capitalize on the adjacent 41-acre sports club managed by SODIC’s dedicated sports platform, Club S.
SODIC is also contracting with Emirates Group for the addition of a service and retail complex within the project. The developer also announced that it is in advanced talks with operators for the project’s entertainment, adventure, and educational components, not to mention partners for medical services.
SODIC East spans across 655 acres and is master-planned by renowned Massachusetts-based Sasaki as a comprehensive integrated mixed-use development, with over 84% of the project’s land allotted for open and green spaces.
Developed through a partnership with Heliopolis Company for Housing and Development (HHD), the project is strategically located between two main highways – Suez and Ismailia desert roads – and is merely a ten-minute drive from the New Administrative Capital (NAC) via the newly-developed road networks.