SODIC and He­liopo­lis H&D to co-de­velop a land plot in New He­liopo­lis Sixth

Business monthly (Egypt) - - MARKET WATCH -

of Oc­to­ber for De­vel­op­ment & In­vest­ment Com­pany and He­liopo­lis Hous­ing & De­vel­op­ment will co-de­velop a 2.75-mil- lion-square-me­ter land plot, part of the lat­ter’s New He­liopo­lis project on the Cairo-Suez Road with a gross land area of 19.6 mil­lion square me­ters. SODIC will re­ceive 70 per­cent of the res- iden­tial de­vel­op­ment rev­enues, while He­liopo­lis H&D will re­ceive 30 per­cent of the rev­enues in ex­change for the land. SODIC and He­liopo­lis H&D will re­ceive 69.8 per­cent and 30.2 per­cent of com­mer­cial de­vel­op­ment rev­enues, re­spec­tively.

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