Egypt developer reports 152pc surge in profits

One of Egypt’s leading developers has reported a 152 per cent surge in profits in the second quarter of 2013. 

SODIC reported revenues of $47 million dollars in the three months to June 2013, driven by a record sales launch of a Eastown Residences. Combined with increased deliveries in Kattameya Plaza and Allegria, the figures are a positive sign for the country’s real estate market, in spite of the political unrest that has occurred this year.

Source: Trade Arabia