SODIC reported that the project is anticipated to achieve total sales in excess of 353 billion Egyptian pounds. As per the agreement, the revenue from the development will be shared, with Rula receiving 21% and SODIC the remaining 79%.
According to Ayman Amer, Managing Director of SODIC, today's agreement represents a key milestone for the company. The addition of the 1000-feddan plot effectively doubles SODIC's undeveloped land holdings, expanding them from 4 million to more than 8 million square meters.