Sodic to Al-Arabiya: The Emirati Real Estate House has offered to buy 51% of our company

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Al Arabiya TV presented a report on the Emirati real estate company Aldar, which was established in Abu Dhabi in 2005, presenting its most prominent projects, confirming that Aldar Properties plans to manage and implement projects worth 50 billion dirhams over a period of 3 to 5 years.

Al-Arabiya TV report confirmed that the Emirati real estate company, Aldar, is seeking to expand in Egypt today, and the company’s marketing value reaches 29 billion dirhams.

The channel also presented a report on the Sodic Real Estate Company in Egypt, whose board of directors approved the acquisition of a majority stake in the Emirati Aldar.

During an interview with Al-Arabiya TV, Majid Sharif, managing director of SODIC, confirmed that the due diligence examination of the deal with the house will take place within days, explaining that the Emirati company’s offer to buy 51% of SODIC includes a coalition of investors..

The managing director of SODIC added: We have started the inspection procedures, and the door will be opened to start the inspection within a few days, and according to the rules in force in Egypt, 60 working days from the date of applying for the acquisition of 51% as a minimum of the company’s shares.







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