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SODIC subsidiary secures EGP950m loan

Egyptian real estate developer, Six of October Development & Investment (SODIC) has said it wholly-owned subsidiary, SOREAL for Real Estate Development has signed a contract for a medium term loan worth EGP950m with Arab African International Bank (AAIB), Arab Finance has reported. The loan will be used to finance a part of the cost for a planned project on a 301-feddan land plot, which the company recently acquired, SODIC said.