SODIC acquires 180-acre land as extension to Caesar project in North Coast
Updated 5/15/2023 10:21:00 AM
Arab Finance: Sixth of October Development and Investment Company (SODIC) has acquired a 180-acre land plot that marks a direct extension to its Caesar project in the North Coast, according to an emailed press release to Arab Finance on May 15th.
The real estate developer is currently in the final stages of completing the contract related to the land with the New Urban Communities Authority (NUCA).
The contract is set to be concluded this year, with the project launch to take place in 2023 as well.
The new phase of the project is master planned by the renowned DLR Group to echo Caesar’s unique positioning on the North Coast, featuring spacious homes designed in a low-density, low-rise development blending with nature and its surroundings.
“Caesar is one of our most prized developments and is a testament to SODIC’s ability to create value in new geographies, catalyzing development to the wider area. This new phase promises to complement everything that Caesar is today while preserving the serene nature of the project. We are very excited about this one,” SODIC’s General Manager Ayman Amer commented.
Over the next four years, SODIC is planning to develop the project with over EGP 10 billion in investments.
In 2015, SODIC had launched Caesar to the Egyptian market as its first second-home and coastal project in the heart of what was then the up-and-coming Ras El Hekma area, and has since delivered over 350 homes.
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