{"id":603227,"date":"2023-08-15T00:00:00","date_gmt":"2023-08-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/15\/sodic-pays-egp-534-mn-to-expand-caesar-project-plus-business-group-want-more-action-to-boost-exports\/"},"modified":"2023-08-15T00:00:00","modified_gmt":"2023-08-15T00:00:00","slug":"sodic-pays-egp-534-mn-to-expand-caesar-project-plus-business-group-want-more-action-to-boost-exports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/15\/sodic-pays-egp-534-mn-to-expand-caesar-project-plus-business-group-want-more-action-to-boost-exports\/","title":{"rendered":"SODIC pays EGP 534 mn to expand Caesar project. PLUS: Business group want more action to boost exports"},"content":{"rendered":"

REAL ESTATE- <\/strong><\/p>\n

We now know the price tag on SODIC\u2019s Caesar expansion: <\/strong> Leading real estate developer SODIC is paying EGP 534 mn for the 180 acres of land it is buying from the New Urban Communities Authority (NUCA) to expand its North Coast Caesar project, the company said in an EGX disclosure (pdf)<\/a> yesterday. SODIC added that the downpayment<\/a> it paid on the plot in May amounted to 10% of the total sum. The company plans to invest over EGP 10 bn in the Caesar extension, which it expects to start work on later this year.<\/p>\n

TRADE- <\/strong><\/p>\n

The Egyptian <\/strong> Businessmen\u2019s Association (EBA) has called on cabinet to provide trade financing to foreign companies <\/strong> to help them buy Egyptian goods, Al Borsa<\/a> reports.<\/p>\n

Remember: <\/strong> The heavy devaluation of the EGP, which has almost halved in value against the USD since March 2022, has failed to provide a boost to non-oil exports, which have slipped<\/a> over the past year. The government aims to raise the value of annual exports to USD 100 bn by 2026, and significantly upped export subsidies<\/a> in this year\u2019s budget to support businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"

The developer purchased a 180-acre plot of land from the New Urban Communities Authority earlier this year<\/p>\n","protected":false},"author":1,"featured_media":603228,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,11455,72,879,83,312,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-egyptian-businessmens-association-2","tag-enterpriseam","tag-new-urban-communities-authority","tag-real-estate","tag-sodic","tag-trade","wpautop","entry"],"acf":{"mongo_id":"8a885bf2-ddb2-4ceb-ad35-bcd7104a4aed","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/723.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SODIC pays EGP 534 mn to expand Caesar project. 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SODIC is paying NUCA EGP 2,470 per sqm in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590017,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/12\/sodic-al-safy-group-partner-on-new-north-coast-development\/","url_meta":{"origin":603227,"position":2},"title":"SODIC, Al Safy Group partner on new North Coast development","author":"enterpriseam admin","date":"12 July 2023","format":false,"excerpt":"SODIC will receive 73% of revenues from the planned project","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/450.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":642934,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/sodic-subsidiary-extends-facility-with-aaib-to-egp-1-4-bn\/","url_meta":{"origin":603227,"position":3},"title":"SODIC subsidiary extends facility with AAIB to EGP 1.4 bn","author":"enterpriseam admin","date":"27 August 2017","format":false,"excerpt":"SODIC subsidiary extends facility with AAIB to EGP 1.4 bn: SODIC\u2019s fully owned subsidiary SOREAL For Real Estate Development and the Arab African International Bank (AAIB) signed an addendum to a medium term facility which would see the loan increase to EGP 1.4 bn, the company said on Thursday (pdf).\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/8\/1387.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631179,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/12\/sodic-signs-revenue-sharing-agreement-for-a-308-feddan-land-plot-on-the-north-coast\/","url_meta":{"origin":603227,"position":4},"title":"SODIC signs revenue sharing agreement for a 308 feddan land plot on the North Coast","author":"enterpriseam admin","date":"12 March 2018","format":false,"excerpt":"SODIC announced signing a revenue sharing agreement for two adjacent plots with a total land area of 308 feddans on the North Coast. The agreement provides the land owned with a 28% share of the project\u2019s revenues from unit sales, which SODIC projects to be around EGP 15.2 bn. The\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622023,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/constec-inks-egp-430-mn-agreement-with-sodic\/","url_meta":{"origin":603227,"position":5},"title":"CONSTEC inks EGP 430 mn agreement with SODIC","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"Construction and Design (CONSTEC) was awarded contracts worth EGP 430 mn for construction works on SODIC\u2019s projects in the North Coast and New Cairo, which includes SODIC\u2019s Caesar compound in the North Coast, CONSTEC General Manager Ashraf Abdel Hakam told Al Masry Al Youm.","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=603227"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603227\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603228"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603227"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603227"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}