The Egyptian sixth of October development and investment business (SODIC) aims to achieve total sales of more than 200 billion pounds of its joint development project with Medar Company, located in the city of Mada, east of Cairo, according to Ayman Amer, general manager of SO. In an interview with Al Sharq, on the sidelines of signing the agreement with Medar for investment and urban development in Cairo, the project, located in Mada, the fifth generation Smart City, which extends over an area of 5,800 hectares near the new administrative capital, is allocated to an amount of approximately 110 billion pounds, but it is plan but he does not have the company the specified date. AMER explained that the part of the revenue of the project is 70% in exchange for construction, marketing and sales work, while “medar” acquires a 30% share in exchange for the part of the land. Ayman al-Qusi, managing director and CEO of Medar, indicated during an interview with Al-Sharq that the partnership with “Sodic” falls within the model of cooperation with regional developers to accelerate the rate of development in new cities. ‘Medar’ was founded in 2006 as a general developer of a land portfolio of approximately 11,000 hectares in the Eastern CAIRO area near the administrative capital, and launched the ‘Mada’ city project in 2024, expecting investments in IT of $ 14 billion, and it could attract major developers like ‘ Regarding the growth of ‘Sodic’s’ business, Ammar said that the acquisition of the two “Aldar Properties” businesses reflected the UAE’s investment by Abu Dhabi Holding Company in 2021 on its business as the land portfolio increased to more than 2,000 hectares, and the company’s sales and profits in 350%, respectively. less than two years.
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