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Investment case

Sixth of October Developments (SODIC). OCDI.CA/OCDI EY Equity | Not covered by CI Capital. Investment case A real estate developer that is targeting the upper class of the economy by providing high quality real-estate products.

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Investment case

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  1. Sixth of October Developments (SODIC) OCDI.CA/OCDI EY Equity | Not covered by CI Capital Investment case • A real estate developer that is targeting the upper class of the economy by providing high quality real-estate products. • To diversify its revenue line, SODIC will establish a new hotel at its Westown project in cooperation with Travco Group. • Furthermore, SODIC cooperated with SIAC to develop the office space component of its Westown project. • SODIC is expanding regionally, by acquiring a 50% stake in a Syrian real estate developer Palmyra that owns 2.6mn sqm of land bank in Syria. Furthermore, SODIC plans to start construction of its Tilal Al Yasmin project in Syria. Downside Risks • OCDI faces a depleting land bank, that it has to purchase new land plots at the current high prices. • A local political and economic situation that has a negative impact on the demand for new real estate units. • Furthermore, the company may witness an increasing number of cancellations. • Shareholder Structure • Free Float 60.85% • October Development Property Ltd 15.59% • Olayan Saudi Investment Ltd 12.39% • SolimanbnAbdElmohsanbnAbd Allah 10.06% • Other 1.11% • 52-Week Performance & Share Data (*EGX suspended 27th Jan – 23rd Mar 2011) Key Performance Indicators Company Profile SODIC was incorporated in 1996 as a public joint stock company. SODIC’s main activities are real-estate and land development. The company pioneered the development of new urban communities through its mixed-use, Beverly Hills project situated over c.1.75 mn sqm. It formed a joint venture with the Lebanese real estate giant SOLIDERE to develop “downtown” style centers for Sheikh Zayed City and New Cairo.

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