Cairo - Mubasher: Sixth of October Development and Investment Company (SODIC) has signed an EGP 110 billion revenue share agreement with MIDAR for Investment and Urban Development.

The agreement aims to develop a fully integrated residential project on a 500-feddan plot in MADA, according to a bourse statement.

Under the deal, MIDAR will receive a 30% share of the project’s revenues and SODIC will retain the remaining 70%.

Meanwhile, the project is expected to generate over EGP 200 billion in sales.

The partnership aligns with SODIC’s expansion strategy in East Cairo, where it has been active since 2008.

The company has delivered more than 5,000 units across three major projects and continues to develop SODIC East in collaboration with Heliopolis Housing & Development.

In the six-month period that ended on 30 June 2025, SODIC achieved an annual leap of 107% in net profits after tax to EGP 1.30 billion, against EGP 629.56 million.