Sixth of October for Development and Investment (SODIC) and the New Urban Communities Authority (NUCA) have agreed on changing the land use of an agricultural plot, located in Sheikh Zayed and owned by the former’s subsidiary, Al Yosr for Projects and Agricultural Development, to residential, Invest-Gate reports.

This signing will boost the land value, which covers 300 acres in west Cairo. By the fourth quarter of 2019, the area will be offered for ownership, the Egypt-based property developer said in a bourse filing on July 14.

On November 14, SODIC received a letter from NUCA to change the use of Al Yosr’s land to deliver infrastructure to the plot and raise the allowable built-up area. It is positioned 44 kilometers from Cairo-Alexandria Desert Road, in close proximity to SODIC West – a flagship development in west Cairo, according to the company’s previous statement.

“Al Yosr will make an in-kind payment of 50% of the land … This development will enable [SODIC] to progress with the planning and launch of the project, with the aim of bringing the inventory into our sales pipeline in 2019,” read the statement.

Meanwhile, SODIC also revealed that 41% of its “un-launched land bank” is located in west Cairo, in addition to another 41% and 18% in east Cairo and on the North Coast, respectively.