Six of October Development and Investment (OCDI)

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News

10 February 2025 00:05 PM SODIC records EGP 2.5bn net profits in 2024

Cairo – Mubasher: Six of October Development and Investment (SODIC) logged net profit after tax and non-controlling interests valued at EGP 2.53 billion in 2024, marking an 84% year-on-year (YoY) leap. The company sold 1,270 units sold last, …

Real estate

30 October 2024 09:58 AM SODIC records higher consolidated profits in 9M-24; sales cross EGP 4.7bn

Cairo – Mubasher: Six of October Development and Investment (SODIC) generated higher consolidated net profits after tax at EGP 941.67 million in the first nine months (9M) of 2024. The recorded net profits were compared with EGP 557.05 million in …

Real estate

10 September 2024 03:22 PM SODIC obtains EGP 4.1bn facility from Banque Misr, CIB

Cairo – Mubasher: Six of October Development and Investment (SODIC) has announced a long-term syndicated facility with the amount of EGP 4.14 billion with Banque Misr and the Commercial International Bank-Egypt (CIB). SODIC will use the loan to …

Banking and Finance

28 July 2024 02:11 PM SODIC’s consolidated profit nears EGP 630m in H1-24

Cairo – Mubasher: Six of October Development and Investment (SODIC) logged a consolidated net profit of EGP 629.56 million in the first half (H1) of 2024, up from EGP 341.71 million in H1-23. Total real estate revenues rose to EGP 3.51 billion in …

Financial Results

12 June 2024 09:57 AM SODIC inks deal With Marriott International for two Egypt hotels

Cairo – Mubasher: Six of October Development and Investment (SODIC) has signed an agreement with Marriott International to bring the latter's Tribute Portfolio brand to two upcoming hotels. The first property, with 170 rooms, will be located …

Real estate

28 April 2024 11:54 AM SODIC’s consolidated profit hits EGP 392m in Q1-24

Cairo – Mubasher: Six of October Development and Investment (SODIC) posted a consolidated net profit after tax of EGP 392.05 million in the first quarter (Q1) of 2024, up from EGP 191.02 million in the same quarter of the previous year. Total …

Real estate

7 February 2024 11:49 AM SODIC posts 164% higher consolidated profits in 2023

Cairo – Mubasher: Six of October Development and Investment (SODIC) registered net profits after tax and non-controlling interest valued at EGP 1.37 billion in 2023, an annual leap of 164% from EGP 520.05 million. Total revenues amounted to EGP …

Real estate

21 November 2023 02:53 PM SODIC, Infinity to implement EV charging station network

Cairo – Mubasher: The Six of October Development and Investment (SODIC) penned a global agreement with Infinity, Egypt's renewable energy and electric vehicle (EV) charging provider. The deal covers the establishment of a comprehensive EV charging …

Companies Investments

30 October 2023 02:37 PM SODIC delivers positive performance in 9M-23; gross contracted sales hit EGP 19.8bn

Cairo – Mubasher: The consolidated net profits attributable to the shareholders of the Six of October Development and Investment (SODIC) hit EGP 547.57 million in the first nine months (9M) of 2023. The generated net profits were up year-on-year …

Financial Results

1 October 2023 03:19 PM Beltone’s shareholders approve sale deal with SODIC’s unit

Cairo – Mubasher: Beltone Financial Holding obtained the approval of its shareholders to buy an administrative building from the Six of October Development and Investment (SODIC). Belton will ink the EGP 1.11 billion purchase deal with the Sixth …

Companies Investments

3 September 2023 02:38 PM Aldar unveils SODIC’s expansion plans in Egypt

Cairo – Mubasher: Aldar Properties-backed Six of October Development and Investment (SODIC) plans to expand the Nobu brand in Egypt, according to a press release. SODIC will establish two hotels, branded residences, and a restaurant across two of …

Companies Investments

31 July 2023 00:47 PM SODIC registers nearly EGP 342m consolidated profits in H1-23

Cairo – Mubasher: Six of October Development and Investment (SODIC) posted consolidated net profits after tax worth EGP 341.71 million in the first half (H1) of 2023. The recorded profits were higher than EGP 295.71 million in H1-22, including …

Real estate

16 July 2023 03:02 PM SODIC unveils EGP 1.11bn sale deal with Beltone

Cairo – Mubasher: The ordinary general meeting (OGM) of Six of October Development and Investment Company (SODIC) agreed to sell EDNC Building No 1 at Eastown Project in New Cairo at a value of EGP 1.11 billion. Development and Real Estate …

Companies Investments

12 July 2023 11:18 AM SODIC eyes EGP 80bn sales from new development project

Cairo – Mubasher: Six of October Development and Investment Company (SODIC) signed a revenue-sharing agreement to develop a residential tourism project on the North Coast. SODIC highlighted that the project’s contracted sales are expected to reach …

Companies Investments

3 May 2023 09:48 AM SODIC posts lower consolidated profits in Q1-23 initial financials

Cairo – Mubasher: Six of October Development and Investment Company (SODIC) registered EGP 187.31 million in consolidated net profit attributable to the owners during the first quarter (Q1) of 2023, an annual drop from EGP 226.23 million. Earnings …

Financial Results

12 February 2023 11:33 AM SODIC logs EGP 525m consolidated profits in 2022; contracted sales hike 87%

Cairo – Mubasher: Six of October Development and Investment Company (SODIC) achieved consolidated net profits after tax worth EGP 525.15 million in 2022, down from EGP 865.10 million in 2021, including non-controlling equity. Revenues hit EGP 7.81 …

Financial Results

23 January 2023 11:06 AM SODIC’s unit inks EGP 2.75bn facility with AAIB

Cairo – Mubasher: Al Yosr for Projects and Real Estate Development, a fully-owned subsidiary of Six of October Development and Investment (SODIC), signed a medium-term facility of EGP 2.75 billion with the Arab African International Bank (AAIB). …

Banking and Finance

27 October 2022 04:08 PM SODIC’s consolidated profits leap to EGP 439m in 9M-22

Cairo – Mubasher: The consolidated net profits after tax of Six of October Development and Investment (SODIC) increased to EGP 438.74 million in the first nine months (9M) of 2022, versus EGP 346.95 million in 9M-21, including minority …

Financial Results

27 October 2022 02:15 PM SODIC generates EGP 11.8bn in gross contracted sales during 9M-22

Cairo – Mubasher: Six of October Development and Investment (SODIC) has sold 1,735 units during the first nine months (9M) of 2022, generating EGP 11.80 billion in gross contracted sales, up 119% from EGP 5.39 billion in the year-ago period.   …

Real estate

25 October 2022 10:26 AM Orascom Development Egypt to hire advisors to evaluate SODIC's offer to acquire unit

Cairo – Mubasher: The board of directors of Orascom Development Egypt (ODE) met on Monday, 24 October to discuss the non-binding offer submitted by Six of October Development and Investment (SODIC) to acquire 100% of Orascom Real Estate.  The …

Real estate

22 September 2022 10:05 AM Aldar Properties eyes new acquisitions in Egypt

Cairo – Mubasher: Aldar Properties has a strategy to expand in Egypt that includes new acquisitions after failing to acquire Madinet Nasr Housing and Development (MNHD), CEO of Six of October Development and Investment (SODIC), Magued Sherif, told …

Macroeconomics

8 September 2022 11:07 AM SODIC relaunches New Zayed project

Cairo – Mubasher: Six of October Development and Investment (SODIC) has relaunched its New Zayed project, which currently spans an area of 464 acres, after being re-master planned. The project had been put on hold due to the re-zoning of New Zayed …

Companies Investments

27 July 2022 03:26 PM SODIC’s profits near EGP 296m in H1-22 results

Cairo – Mubasher: Six of October Development and Investment (SODIC) has logged consolidated net profits after tax worth EGP 295.71 million in the first half (H1) of 2022, higher than EGP 225.84 million in H1-21, including minority shareholders' …

Financial Results

18 July 2022 01:11 PM MNHD's OGM to consider due diligence on SODIC's acquisition request

Cairo - Mubasher: The ordinary general meeting (OGM) of Madinet Nasr Housing and Development (MNHD) will consider the offer made by Six of October Development and Investment (SODIC) to approve due diligence. During the OGM, set to be held on 16 …

Mergers and Acquisitions

5 July 2022 10:59 AM SODIC submits non-binding offer to acquire MNHD

Cairo – Mubasher: Six of October Development and Investment (SODIC) has submitted a non-binding offer for the potential acquisition of Madinet Nasr Housing and Development (MNHD) through a mandatory tender offer. SODIC seeks to acquire up to 100% …

Companies Investments