{"id":641498,"date":"2017-09-25T04:16:21","date_gmt":"2017-09-25T04:16:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/25\/sodic-announces-expansion-plans-for-2h2017\/"},"modified":"2017-09-25T04:16:21","modified_gmt":"2017-09-25T04:16:21","slug":"sodic-announces-expansion-plans-for-2h2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/25\/sodic-announces-expansion-plans-for-2h2017\/","title":{"rendered":"SODIC announces expansion plans for 2H2017"},"content":{"rendered":"

<\/a> SODIC in talks over 300 feddans in North Coast, will spend EGP 750 mn to grow land <\/strong>bank in 2H2017: <\/strong>Our friends at real estate developer SODIC announced they are in talks to acquire 300 feddans of land on the North Coast to co-develop with existing landowners, according to an EGX disclosure<\/a>. SODIC signed a non-binding MoU with the land\u2019s owners and is moving forward with its due diligence process, which it expects to conclude before the end of the year, CEO Magued Sherif told Al Shorouk in an interview<\/a>. The company has earmarked EGP 750 mn for new land purchases in 2H2017,<\/strong> Sherif added, explaining that SODIC\u2019s strong liquidity position supports its plans to grow its 5 mn sqm land bank. The company is in talks with another North Coast partner for a 285 feddan plot and is assessing potential land acquisitions in east and west Cairo.<\/p>\n","protected":false},"excerpt":{"rendered":"

SODIC in talks over 300 feddans in North Coast, will spend EGP 750 mn to grow land bank in 2H2017: Our friends at real estate developer SODIC announced they are in talks to acquire 300 feddans of land on the North Coast to co-develop with existing landowners, according to an EGX disclosure. SODIC signed a […]<\/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-641498","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0e3b89f5-2b19-469b-8ba5-5c4b91178480","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[641488],"teaser":"","voice_url":""},"yoast_head":"\nSODIC announces expansion plans for 2H2017 - 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\/09\/25\/sodic-announces-expansion-plans-for-2h2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SODIC announces expansion plans for 2H2017\" \/>\n<meta property=\"og:description\" content=\"SODIC in talks over 300 feddans in North Coast, will spend EGP 750 mn to grow land bank in 2H2017: Our friends at real estate developer SODIC announced they are in talks to acquire 300 feddans of land on the North Coast to co-develop with existing landowners, according to an EGX disclosure. 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To that end, the company is targeting the acquisition of some 650 feddans before the end of the year, including\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":647742,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/sodic-looking-to-buy-egp-600-mn-worth-of-land-in-cairo-sherif\/","url_meta":{"origin":641498,"position":1},"title":"SODIC looking to buy EGP 600 mn worth of land in Cairo -Sherif","author":"enterpriseam admin","date":"18 May 2017","format":false,"excerpt":"SODIC is looking to expand its land bank: SODIC is looking to buy EGP 600 mn worth of land in north and west Cairo, Managing Director Magued Sherif told Ehab Farouk of Reuters\u2019 Arabic service. Sherif says SODIC, which is already working on 10 residential projects, is finalising the processes\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":629149,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/23\/sodic-plans-to-invest-up-to-egp-1-bn-to-grow-its-land-bank-this-year\/","url_meta":{"origin":641498,"position":2},"title":"SODIC plans to invest up to EGP 1 bn to grow its land bank this year","author":"enterpriseam admin","date":"23 May 2018","format":false,"excerpt":"INVESTMENT WATCH- SODIC plans to invest up to EGP 1 bn to grow its land bank this year: Our friends at SODIC are planning to invest between EGP 900 mn and 1 bn to expand their land bank this year, CEO Magued Sherif told reporters yesterday, according to Arabic Reuters.\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":638306,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/02\/sodic-signs-mou-agreement-for-another-300-feddans-on-the-north-coast\/","url_meta":{"origin":641498,"position":3},"title":"SODIC signs MoU agreement for another 300 feddans on the North Coast","author":"enterpriseam admin","date":"2 October 2017","format":false,"excerpt":"SODIC continues expansion on the North Coast: SODIC announced signing a new MoU for a 300-feddan land plot on the North Coast in partnership with the owner, according to a bourse disclosure. The parties are now conducting their due diligence. The MoU is the second to be announced by SODIC\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":642642,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/20\/earnings-watch-sodic\/","url_meta":{"origin":641498,"position":4},"title":"Earnings watch: SODIC","author":"enterpriseam admin","date":"20 August 2017","format":false,"excerpt":"EARNINGS WATCH- Our friends at SODIC reported a 130% y-o-y increase in consolidated net profit to EGP 340 mn in 1H2017. Revenues increased by 88% y-o-y to EGP 1.173 bn. The surge in revenues was driven by a 103% y-o-y rise in deliveries in 1H2017. \u201cNet contracted sales for the\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":630122,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/sodic-mnhd-talks-to-begin-today-source\/","url_meta":{"origin":641498,"position":5},"title":"SODIC, MNHD talks to begin today -source","author":"enterpriseam admin","date":"12 April 2018","format":false,"excerpt":"SODIC\u2019s board welcomes overture from MNHD; common shareholders could fast-track an agreement: Upmarket real estate developer SODIC said yesterday (pdf) that it welcomes discussions with Madinet Nasr Housing and Development about \u201cpotential strategic alternatives for the two entities by way of merger or acquisition\u201d and specifically noted the \u201cpotential synergies\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641498","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=641498"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641498\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/641488"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=641498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=641498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=641498"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=641498"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=641498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}