{"id":638433,"date":"2017-10-04T03:48:56","date_gmt":"2017-10-04T03:48:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/04\/magued-sherif-discusses-strategy-and-targets-with-al-mal\/"},"modified":"2017-10-04T03:48:56","modified_gmt":"2017-10-04T03:48:56","slug":"magued-sherif-discusses-strategy-and-targets-with-al-mal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/04\/magued-sherif-discusses-strategy-and-targets-with-al-mal\/","title":{"rendered":"Magued Sherif discusses strategy and targets with Al Mal"},"content":{"rendered":"<p><strong>SODIC\u2019s strategy rests on building communities in urban areas recently slated <\/strong><strong>for development<\/strong>, helping further the development goals of the government, CEO Magued Sherif <a href=\"http:\/\/www.almalnews.com\/Story\/347974\/16\/%D9%85%D8%A7%D8%AC%D8%AF-%D8%B4%D8%B1%D9%8A%D9%81%D8%A5%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D8%B3%D9%88%D8%AF%D9%8A%D9%83-%D8%AA%D8%B1%D9%83%D8%B2-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%85%D8%AF%D9%86-%D8%A7%D9%84%D8%A8%D9%90%D9%83%D8%B1-\">told Al Mal in an interview<\/a>. To that end, the company is targeting the acquisition of some 650 feddans before the end of the year, including 300 feddans of land on the North Coast to co-develop with existing landowners. The company is also eyeing new land in Sheikh Zayed, Sherif tells the newspaper. We had previously noted that SODIC has earmarked EGP 750 mn for new land purchases in 2H2017. Sherif noted that SODIC\u2019s strong liquidity position supports its plan to grow its 5 mn sqm land bank. EGP 1.5 bn of the EGP 3.3 bn it has in reserves have been spent so far, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SODIC\u2019s strategy rests on building communities in urban areas recently slated for development, helping further the development goals of the government, CEO Magued Sherif told Al Mal in an interview. To that end, the company is targeting the acquisition of some 650 feddans before the end of the year, including 300 feddans of land on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-638433","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"20d733c1-99c2-42a3-b021-3507d4c562b5","order":"0","is_powered_by":true,"section_story_id":"15c6bacb-3ee5-4e4d-a918-a8f3f95ac4df","story_type":"1","photo_url":"","photo_position":"above","related_issue":[638420],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Magued Sherif discusses strategy and targets with Al Mal - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/04\/magued-sherif-discusses-strategy-and-targets-with-al-mal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magued Sherif discusses strategy and targets with Al Mal\" \/>\n<meta property=\"og:description\" content=\"SODIC\u2019s strategy rests on building communities in urban areas recently slated for development, helping further the development goals of the government, CEO Magued Sherif told Al Mal in an interview. 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Sherif says SODIC, which is already working on 10 residential projects, is finalising the processes\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":573257,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/27\/sodic-boss-expects-egypts-real-estate-sector-to-recover-starting-2h2020\/","url_meta":{"origin":638433,"position":2},"title":"Sodic boss expects Egypt\u2019s real estate sector to recover starting 2H2020","author":"enterpriseam admin","date":"27 July 2020","format":false,"excerpt":"Sodic boss expects real estate to stage recovery starting 2H2020: Property sales could start bouncing back throughout the second half of this year after the government relaxed covid-19 measures and amid the ongoing gradual return to \u201cnormal life,\u201d our friend Sodic CEO Magued Sherif told Al Mal and Hapi Journal\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/210.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549592,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/sodic-kills-bid-for-mnhd\/","url_meta":{"origin":638433,"position":3},"title":"SODIC kills bid for MNHD","author":"enterpriseam admin","date":"22 September 2022","format":false,"excerpt":"SODIC is no longer interested in acquiring MNHD: SODIC has called off its takeover bid for Madinet Nasr Housing and Development (MNHD) and is currently reviewing other alternatives, our friend SODIC Managing Director Magued Sherif told Bloomberg Asharq.MNHD shareholders rejected SODIC\u2019s bid last month, saying its EGP 6.36 bn valuation\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/316.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574754,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/sodic-subsidiary-signs-egp-2-57-bn-medium-term-facility-with-aaib\/","url_meta":{"origin":638433,"position":4},"title":"Sodic subsidiary signs EGP 2.57 bn medium term facility with AAIB","author":"enterpriseam admin","date":"21 September 2020","format":false,"excerpt":"DEBT WATCH- Sodic subsidiary signs EGP 2.57 bn medium term facility with AAIB: Sodic subsidiary Soreal Real Estate Development signed a EGP 2.57 bn medium-term facility with the Arab African International Bank to finance Sodic\u2019s Villette project in New Cairo, according to an emailed statement (pdf). 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