Premier real estate developer Sodic is in talks with Banque Misr and other local banks to acquire a 3-5 year, EGP 1 bn facility for its projects in east and west Cairo, sources told Al Mal. The facility will be used to cover part of development costs estimated to be around EGP 8.8 bn. Sodic had said last week that it plans to invest EGP 34 bn in four New Zayed projects over the next 10 years.

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