03‏/05‏/2025

SODIC: The value of contracts expected for the North Coast project will take place within 11 years

The Sixth of October Development and Investment Company (SODIC) said that the total expected customer contracts worth EGP 80bn for the tourist-residential project to be built on the North Coast will be collected over 11 years.

At the beginning of the transactions, the company disclosed that it had signed a revenue sharing contract with Al Safi Real Estate Development Company and one of its associated parties, to establish, develop and grow a tourist housing project for two adjacent plots of land with a total area of ​​approximately 440 acres on the northern coast.

And in the most important terms of the contract, the participation in the total revenues of the residential and commercial units of the project to be built on the land is 27% for the landowner and 73% for the SODIC company, without a guaranteed minimum.

The company expects that the project to be established on that land will achieve total contracts with clients amounting to 80 billion pounds.