Egypt's Sodic to start residential projects in Syria

07 October 2010

Developer will also complete a project already started by Damascus-based Palmyra Real Estate Development

Ashraf Farid, operations director of Egypt’s third-biggest publicly traded developer, Six of October Development and Investment (Sodic), has said the firm may start two housing projects in Syria by the end of this year, Bloomberg has reported. Sodic is to begin its first development in Syria on 500,000 square metres of land, Farid said. It will also complete a project already started by Damascus-based Palmyra Real Estate Development, in which Sodic bought a 50 per cent stake for $40.5m in June.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications