Abu Dhabi’s Aldar Considering More Deals in Egypt Real Estate
- Aldar is halfway through due diligence on Sodic acquisition
- Egypt’s property market is one of most attractive: Aldar CEO
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Abu Dhabi-based Aldar Properties PJSC is halfway through its due diligence process on an offer to buy a majority stake in Egypt’s Sixth of October for Development & Investment Co., and is looking for additional opportunities in the Arab world’s most populous country.
The offer for the Egyptian property developer, known as Sodic, “is one of a number of opportunities we are looking at in Egypt,” Chief Executive Officer Talal Al Dhiyebi told Bloomberg TV. “We think it’s one of the most lucrative and attractive real estate markets.”