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Egypt’s SODIC buys Agricultural Firm for $59 Million | ASHARQ AL-AWSAT English Archive 2005 -2017
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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.