Egypt’s SODIC sees 2016 sales of 4.9 bln Egyptian pounds
Traders work at the Egyptian stock exchange in Cairo, Egypt in this August 23, 2015 (Reuters)

 CAIRO: SODIC, Egypt’s third-largest listed real estate developer, expects contracted sales to reach about 4.9 billion Egyptian pounds ($552 million) in 2016, it said in a bourse statement on Thursday.

The company also said that contracted sales for 2015 came to about 4.4 billion pounds.

SODIC more than doubled its full-year profit in 2015 to 321.3 million pounds from 154.3 million a year earlier, attributing the increase to rising demand in Cairo’s affluent eastern suburbs and for coastal summer homes.


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