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Egypt's SODIC buys Agricultural Firm for $59 Million - ASHARQ AL-AWSAT English Archive
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CAIRO, (Reuters) – Egypt’s Sixth of October Development and Investment (SODIC) has bought El Yousr Company for Projects and Agricultural Development in a deal worth 312.6 million Egyptian pounds ($59 million), SODIC said on Wednesday.

SODIC, Egypt’s third largest real estate developer by market value, said in a statement that El Yousr had 1.36 million square metres of land along the Cairo-Alexandria desert road.

SODIC said the land was located near property where it has existing projects, and brought its total land holdings to 5.1 million square metres along the desert road and 1 million in New Cairo. Shares in SODIC, which has residential and commercial developments east and west of Cairo, were up 2.21 percent at 128.79 pounds by 0848 GMT.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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