{"id":556967,"date":"2021-09-01T04:14:09","date_gmt":"2021-09-01T04:14:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/"},"modified":"2021-09-01T04:14:09","modified_gmt":"2021-09-01T04:14:09","slug":"sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/","title":{"rendered":"SODIC prepares to restart sales, collections on 500-acre West Cairo plot"},"content":{"rendered":"

<\/a> SODIC is looking forward to the \u201cimminent\u201d resumption of sales and <\/strong>collections on a <\/strong>500-acre plot in West Cairo\u2019s New Zayed<\/strong>, a senior company official tells us. The upmarket real estate developer paused both collection and new sales earlier this year on the plot<\/a>(pdf)<\/a> after the Housing Ministry proposed moving it to a new location. SODIC is developing the land in partnership with the New Urban Communities Authority (NUCA).<\/p>\n

Why the change? <\/strong>It is necessary because of changes to \u201cNew Zayed area plans at large,\u201d SODIC said in a disclosure (pdf)<\/a>.<\/p>\n

The new plot, which is pending approval from NUCA\u2019s board of directors, is a bit <\/strong>smaller at 440 acres \u2014 and probably better for SODIC. <\/strong>\u201cThe adjusted plot partially overlaps with the original plot and spans 440 acres, but with a higher efficiency that should allow for an increase in sellable BUA without compromising the project\u2019s features. The new land plot also enjoys better connectivity with the infrastructure being developed in the area\u201d \u2014 and is closer to SODIC West, the company official said.<\/p>\n

\u201cExisting clients will be relocated in a way that meets the criteria on which they <\/strong>bought<\/strong>,\u201d the official said, adding, \u201cThe new plot, though slightly smaller, has better efficiencies due to its shape and existing infrastructure, thus safeguarding the offering while not compromising returns. We are excited about the change and look forward to resuming sales and collections imminently.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

SODIC is looking forward to the \u201cimminent\u201d resumption of sales and collections on a 500-acre plot in West Cairo\u2019s New Zayed, a senior company official tells us. The upmarket real estate developer paused both collection and new sales earlier this year on the plot(pdf) after the Housing Ministry proposed moving it to a new location. 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