SODIC acquires 180 acres of land on Egypt's North Coast

Sixth of October Development & Investment Company (SODIC) announced its recent acquisition of 180 acres of land on the North Coast, marking the next phase of its flagship project, Caesar.

Located in Ras Al Hekma, Caesar is SODIC's maiden venture into coastal developments and second homes.

The EGX-listed developer said in a statement that it plans to launch the new phase later this year, following the finalisation of contractual arrangements with the New Urban Communities Authority (NUCA).

The acquired land is situated directly south of the existing Caesar development.

SODIC also disclosed its commitment to investing over 10 billion Egyptian pounds ($323 million) in the project over the course of the next four years.

It said the low-density, low-rise development was master planned the DLR Group.

Ayman Amer, SODIC's General Manager, emphasised the seamless integration of the new phase with the existing project, ensuring the preservation of its tranquil atmosphere.

To date, the developer has successfully delivered 350 homes within the Caesar project.