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Egypt's SODIC says plans about 2.3 bln Egyptian pounds in investments in 2015
February 9, 2015 / 7:57 AM / 3 years ago

Egypt's SODIC says plans about 2.3 bln Egyptian pounds in investments in 2015

CAIRO, Feb 9 (Reuters) - SODIC, Egypt’s third-largest listed property group, plans about 2.3 billion Egyptian pounds ($301.64 million) in new investments in 2015, it said in a statement on Monday.

It said it would deliver 684 new property units this year.

Egypt’s once-booming construction sector was hit hard by the 2011 revolt that ended Hosni Mubarak’s 30-year rule. Many large real estate contracts were cancelled in the wake of the revolt and investment dried up.

$1 = 7.6250 Egyptian pounds Reporting by Ehab Farouk; Writing by Maggie Fick; Editing by Louise Heaven

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