SODIC: The Creator and Leader of Happiness in Egypt’s Real Estate

Tasneem Khalil 07 Feb 2024

SODIC (Sixth of October for Development and Investment) is a leading real estate company founded in 1996 to set new standards and achieve remarkable success. For over 25 years, SODIC has taken pride in its diverse portfolio, offering a blend of luxurious resorts, residential compounds, and commercial projects. This diversity is provided to suit different preferences and satisfies the aspirations of its clients.

SODIC has been a pioneer in integrating modernity with Egyptian identity. Each project reflects a commitment to creating amazing and comfortable environments while embracing contemporary architectural and lifestyle trends.

Facing challenges head-on, SODIC has maintained transparent and credible dealings with its clients. The company's integrity has earned widespread trust, establishing relationships based on commitment to fulfilling customer expectations.

Building the Future

SODIC's vision goes beyond just real estate development as it aims to build a better and more sustainable future for communities and individuals in Egypt. By continuously engaging with challenges, SODIC is well-positioned to lead the way in Egypt's real estate landscape.

From the beginning of SODIC in 1996 to its current status as a real estate company, the company's journey has been marked by a clear and bold vision. SODIC's impact on the Egyptian real estate market is undeniable. With a diverse portfolio, SODIC has strategically targeted opportunities in the outskirts of Cairo and new cities, delivering a modern lifestyle that meets customer expectations and ensures excellent returns for investors.

History of SODIC

SODIC, short for Sixth of October for Development and Investment, has been a symbol of excellence and innovation in the Egyptian real estate landscape. Its journey began in 1996 when it acquired the first land in Sheikh Zayed City, which represents the beginning of the development of the western Cairo.

In 2007, SODIC introduced the Galleria project, marking a revolutionary change in the market and establishing an exceptional brand. Despite challenging circumstances after the January revolution, SODIC successfully launched West Town Residences, selling out all units within just 48 hours.

Expanding its horizons in 2015, SODIC ventured into coastal and touristic projects with the strategic development of Caesar North Coast. The company has consistently delivered projects that meet customer expectations, gaining significant appreciation from investors for providing an exceptional experience.

SODIC's Journey

SODIC continued its journey by launching EDNC, a commercial project, and acquiring an additional 500 acres in the western Cairo region. The company formed strategic partnerships, including the Malaaz project, and acquired 300 acres in the North Coast, showing its commitment to building pioneering projects. Behind SODIC, there is a network of subsidiaries that hold significant positions in Egypt, including:

SODIC Garden City for Development and Investment:

This company serves as a model for intelligent development and investment. It focuses on creating integrated residential communities that offer a unique lifestyle for residents.

Beverly Hills for City and Resort Management:

Specializing in the efficient management and operation of cities and resorts, it strives to achieve the highest standards of luxury.

SODIC Golf and Tourism Development:

Concentrating on the development of unique tourism projects, this subsidiary focuses on providing distinct experiences for visitors and investors.

Fortune for Real Estate Investment:

Reflecting a pioneering vision in real estate investment, it seeks to achieve excellent returns for investors through a diversified portfolio.

La Maison for Real Estate Investment:

Known for innovation and quality in delivering unique investment solutions, it plays a significant role in the real estate investment field.

Trade for Commercial Centers:

Centering its activities around commerce and the development of commercial centers, it contributes to enhancing the infrastructure of communities.

Vision and Mission of SODIC

SODIC stands out for its brilliant diversity in project design and the delivery of unique concepts. It goes beyond meeting customer needs to provide distinctive living experiences. Guided by a strong management team and investments in pioneering projects, SODIC continues to build a bright future for the communities it serves.

SODIC has achieved a significant increase in unit sales thanks to its diverse and mixed-use projects. The company's vision revolves around meeting the needs and trends of the real estate market in Egypt. Understanding market dynamics and meeting customer expectations enables SODIC to achieve continuous excellence and success.

With a strong heritage and a forward-looking vision, SODIC remains committed to shaping a bright future for real estate in Egypt. The company excels in project management, ensuring efficient project execution and timely delivery, reinforcing its reputation as one of the most committed and professional companies in the field.

Founder of SODIC

The success of SODIC can be attributed to the Egyptian businessman, Magdi Rasekh. Graduating from the Faculty of Commerce at Helwan University in 1966 marked the beginning of an exceptional journey. Starting his educational journey at the Military Technical College briefly, Magdi later shifted to the Faculty of Commerce.

His career began at the Ahram Information and Computer Center. Driven by experience and ambition, Magdi ventured to Kuwait, where he founded a company in the field of telecommunications in the Engineers' District. In 1998, Magdi Rasekh invested in the gas sector and established the National Gas Company. This step marked the diversification of his investments as he became an agent for the Chinese company KATIG, specializing in manufacturing tractors and railways.

In 1996, Magdi Rasekh founded Sixth of October for Development and Investment, known as "SODIC." This step marked the beginning of his journey in the real estate development world. Magdi's personality combines leadership and vision, as he successfully built a real estate empire that is one of the leading companies in Egypt. His success in SODIC reflects his wise connections in the business world and his diverse investments.

Aldar Properties and SODIC

In December 2021, the Egyptian real estate scene witnessed a significant strategic move as the UAE-based Aldar Properties and ADQ Holdings acquired an 85.5% stake in SODIC. This merger is a bold step towards establishing their presence in the Egyptian real estate market. It is part of an investment vision aiming to expand the company's scope and deliver real estate projects in Egypt. The goal is to achieve new levels of innovation and provide investment projects that meet the aspirations of clients in the Egyptian market.

Following this acquisition, SODIC underwent a strategic transformation, embracing a new vision to maximize value for shareholders and increase its portfolio through diversifying real estate projects. Aldar Properties and ADQ didn't stop there; they presented a non-binding offer to acquire Madinet Nasr for Housing and Development, showing a serious desire to expand and be present in the Egyptian real estate markets.

The future vision of Aldar Properties and SODIC revolves around delivering unique investment projects and stimulating real estate development.

About Aldar Properties

Aldar Properties in Abu Dhabi is a pioneer in the real estate development industry in the region. Established in 2004, it quickly became a symbol of excellence and leadership. The company holds a prominent position in the Abu Dhabi Securities Exchange, with its shares successfully traded. Mubadala Investment Company and the Abu Dhabi Investment Authority are its largest shareholders, reflecting great confidence in its capabilities.

Aldar Properties has developed several major projects in the Emirate of Abu Dhabi, including Reem Island, Yas Beach, Yas Gardens, Yas Island, featuring prominent landmarks like Yas Marina Circuit, Ferrari World, and Yas Marina Hotel, making it a major contributor to shaping the modern features of the Emirates.

In 2013, Aldar Properties merged with Sorouh Real Estate, and in March 2018, it announced a strategic partnership with Emaar Properties in Dubai. Aldar Properties continues to achieve ambitions, symbolizing evolution and excellence in the heart of Abu Dhabi.

SODIC's Projects

SODIC is making its latest projects in West Cairo, spanning an impressive 9 million square meters. With a land portfolio reaching 16 million square meters, SODIC demonstrates its commitment to delivering colossal and groundbreaking projects. Known for pioneering diverse projects across various construction sectors, SODIC's standout projects include:

Allegria Sheikh Zayed Compound:

Allegria Sheikh Zayed is an example of ideal living and investment, blending modern design with technology. Prioritizing privacy and comfort, the compound ensures the highest levels of security and luxury for residents, with a range of services and amenities.

October Plaza:

Located in the heart of 6th of October City, October Plaza offers unique design over vast areas with stunning views of green spaces. Combining luxury and comfort, the compound stands as an example of the latest and most luxurious residential compounds in the region.

Sky Condos:

Strategically located in New Cairo, Sky Condos combines a premium location with luxurious design. The compound provides residents with comfort and luxury, offering all essential services. Sky Condos embodies excellence and luxury in the heart of New Cairo.

SODIC East Town:

Located on the 90th Street near the American University in New Cairo, SODIC East Town offers apartments with diverse designs. It distinguishes itself with exceptional views and combines luxury with sustainability.

Vye SODIC:

Vye SODIC, located in the heart of Sheikh Zayed, offers diverse residential units and fantastic facilities. With its strategic location, it provides convenience and luxury just minutes away from the capital and major business districts.

SODIC Clubs

SODIC Clubs stand out as one of Egypt's premier private sports and social clubs. They offer an extensive range of sports activities and health care, along with the best entertainment events. The mission of SODIC Clubs is to entertain, inspire, and maintain the happiness and health of its members.

SODIC Clubs provide a variety of membership options tailored to individual needs, with a dedicated team always ready to assist in maximizing your experience. Reflecting a vibrant and diverse lifestyle, SODIC Clubs allow you to enjoy your favorite activities and social experiences within a community that values balancing fitness and entertainment.

SODIC Team

The Board of Directors of SODIC is the main factor in pushing the company forward in the market. The management team has outstanding professionals with extensive experience, tirelessly working to maintain its high and prestigious reputation. The management team's diverse local and global experiences, consisting of world-class experts and innovative minds, ensure global quality and enhance its leading position. SODIC's success in real estate is attributed to its dedicated and distinguished team working continuously to achieve excellence in the real estate sector.

Talal Al Dhiyabi serves as the CEO of Aldar Properties, actively contributing to the company's development and enhancing its leading position. Yasser Al-Saeed effectively leads the executive management team, contributing to achieving the company's goals. Fahad Abdullah Al Mahmoud serves as a non-executive board member and the chairman of the company's non-executive management team.

With a rich history, SODIC has achieved remarkable successes, allowing it to establish a leading and prestigious position in the Egyptian real estate market. The company has elevated the standard of construction in Egypt to unparalleled excellence across all construction phases.