Turn on more accessible mode
Turn off more accessible mode
Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
04-11-14
Egypt's SODIC to invest USD139m in new projects
(MENAFN) SODIC, Egypt's third-largest listed property developer, announced it has completed a capital increase, with an estimated worth of USD139, to help finance new projects in Egypt as the real estate sector in the country begins to recover, Arab News reported.
SODIC, also known as Sixth of October Development and Investment Co, said that almost two-thirds of the money raised will be invested in a new project in the upscale Cairo area of Heliopolis, while the rest will be going toward new land the developer is seeking to buy, either on the northern coast or outside Cairo.
SODIC, which plans to begin construction as well as offer the first phase of units in the mixed-use development on its 1.3 million-square meter site in Heliopolis before the end of the year, is also targeting sales of USD41.48-82.96 million in the first phase and USD1.42 billion from the whole project.
Meanwhile, SODIC reported it has registered a profit of USD12.51 million during the January-June period of this year as well as revenues of USD87.80 million.
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us