SODIC, NUCA sign escrow with Banque Misr for 500 acre Zayed development

SODIC and the New Urban Communities Authority (NUCA) signed on Tuesday the escrow contract for SODIC’s 500 acre development in New Zayed, according to an emailedstatement(pdf). The upscale real estate developer had signed a partnership with NUCA for the development in March. The first phase of the project is Vye, which we noted earlier this week saw SODIC sell EGP 1 bn-worth of units in the neighborhood two days after the phase was launched.