Sixth of October Development and Investment Company (SODIC) has revealed its future plans to launch four additional projects in New Zayed, west Cairo, pumping investments worth EGP 34 bn over ten years, Invest-Gate reports.
The first project to be released is SODIC’s upscale signature community in New Zayed, called “The Estates,” after the company secured the ministerial approval for its implementation last month, according to a press release on September 8.
“This is the real value that SODIC brings to a new urban community. With the launch of four new projects planned for the coming period, we are setting the cornerstone for New Zayed, much the same way we did with SODIC West two decades ago,” said SODIC’s Managing Director Magued Sherif, emphasizing that that the move comes in line with the state’s urban development plans.
SODIC is the first real estate developer to acquire land in New Zayed, covering a total of 650 acres, the statement noted, highlighting, “With deep knowledge of this market and the strong legacy of SODIC West, SODIC is best poised to build the foundation for west Cairo’s up and coming neighborhood.”
Submitted to the New Urban Communities Authority (NUCA) for the nod, The Estates’ masterplan boasts about 500 upscale single-family homes, ranging from exclusive one-story villas to townhouses, covering 630,000 square meters of land. It is located on Cairo-Alexandria Desert Road, only five kilometers away from SODIC West.