Egypt’s Sixth of October Development and Investment Company (SODIC) has sold out EGP 1 bn worth of units at its New Zayed project, called “VYE,” in 48 hours only due to the high demand, Invest-Gate reports.
“We are very happy about the successful launch. VYE is the beginning of an exciting journey for SODIC where we think about the changing needs of this new generation of home buyers,” Nabil Amaasha, the company’s chief commercial and operations officer, was quoted as saying in the press release on December 23. However, details on the project’s land area and investment value were not disclosed.
VYE, the first of three neighborhoods that make up SODIC’s newest 500-acre integrated project in west Cairo, introduces “Sol” as the first solar-powered townhouses and twin homes in Egypt, “which proved to be a big hit among buyers.” It also offers expandable apartments within multi-family buildings, branded “Neo.”
According to the statement, “VYE’s outdoor spaces are designed to cater to sports and community activities and are Wi-Fi connected to serve as co-working spaces for a growing entrepreneurial generation, all whilst being linked to the main ‘Nova Park,’ delivering busy and vibrant living throughout.”
SODIC – the first real estate developer to acquire land in New Zayed – had previously announced plans to pump investments worth EGP 34 bn over ten years, whereby implementing four new 650-acre projects in the new city.