Midar and Sodic to develop EGP 110 bn wellness-focused project in New Cairo

Midar, Sodic to build EGP 110 bn wellness city: Midar for Investment and Urban Development has signed a partnership agreement with Sodic to develop Egypt’s first fully integrated wellness and sustainable residential project in New Cairo’s Mada City with total investments of EGP 110 bn, according to a company statement.

The details: Under the agreement, Sodic will develop a 500-feddan plot under a revenue-sharing model. The project is Midar’s second major partnership in Mada in less than eight months.

REMEMBER- Emaar Misr inked a strategic partnership agreement with Midar in February to set up the EGP 100 bn New Mivida residential project in New Cairo. Midar is expected to complete the construction on half of the project within three years.

What they said: “This partnership supports Sodic’s expansion strategy in East Cairo, where we have operated since 2008 with over 5k units delivered across three major projects, alongside our ongoing Sodic East development in partnership with Heliopolis Housing & Development. This collaboration marks a new milestone for Sodic, creating an integrated urban community that reflects our commitment to delivering high-quality, sustainable neighborhoods, where wellness serves as the foundation not just an amenity,” Sodic General Manager Ayman Amer said.