CAIRO: SODIC resumed construction on all of its projects on Feb. 5, after keeping them on hold for six days due to ongoing nationwide protests in the country.
Maher Maksoud, CEO of SODIC, said that rising inflation in Egypt could boost real estate sales, according to Beltone Financial report.
Maksoud said he was concerned about the possibility of an impact that sharp devaluation of the Egyptian pound could have on profits as a result of higher raw materials, Beltone reprote.d
“SODIC holds an extremely strong cash position (over LE 500 million cash), a very limited outstanding debt (LE 100 million), a marginal land debt (some LE 150 million payable over the next seven years) and strong cash flows (over LE 2 billion in receivables),” according to Beltone.
