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SODIC invests in 29.65% of EQTI

SODIC announced the signature of a Shareholders' agreement to invest in 29.65% of Environmental Quality for Touristic Investments Company (EQTI).

SODIC's investment, which is subject to certain conditions precedent to be completed over the next year, amounts to LE17m, bringing EQTI's capital up to LE58m and helping it expand its' current nature lodge operations in Egypt to other key locations nationwide.

"This investment underscores our commitment towards diversifying across the various real estate segments,"

said Maher Maksoud, SODIC's Managing Director.

He added, "It also helps advance Egypt's position as a leading eco-tourism destination, to service the growing market of environmentally sensitive and culturally minded travelers worldwide."
 
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Notes and Media Contacts »

About SODIC:

SODIC is one of Egypt's fastest growing Real Estate Development Company and is currently developing a large number of Egypt's largest and most exciting projects in the most lucrative real estate sectors. These developments range from residential projects of different types to retail, commercial and even full-fledged city centers aimed at becoming the main urban hubs of both east and west Cairo. The estimated total value of these projects is in excess of LE25bn and are projected to be completed over the next 8-10 years. SODIC is listed on the Cairo Stock Exchange (Ticker OCDI) and is a constituent of the CASE30 index.

About EQTI:

EQTI is a specialized company in the field of Sustainable Travel. Its' main asset is Adrère Amellal, the world acclaimed Nature Lodge in the Siwa Oasis in Egypt. The company is headed by Dr. Mounir Neamatalla who is also the majority shareholder; a pioneer in building successful environmental companies that positively impact the life and work of local communities, while safeguarding their natural resources and cultural heritage.

For more information, please contact:

Engy Emad
Media Relations Executive
Organizational Consultants (OC)
Tel: +202 3305 0014
Fax: +202 3305 0024
63 Syria Street, Mohandeseen, Cairo

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