Press releases

Allegria Named Best Development and Best Golf Course by CNBC Property Awards 2008

Cairo, October 26, 2008 

In the competitive atmosphere of the glittering gala dinner at the CNBC Arabian Property Awards 2008 in Dubai, Sodic's Allegria scooped two awards for Best Development and Best Golf Development.

The awards were formally given out during the glamorous event held at the Joharah Ballroom at Madinat El Dubai on October 19.

Commenting on this news, Youssef Hammad, Chief Commercial Officer for Sodic says, “We are thrilled to have won these awards. To date Allegria has won three prestigious international awards. This recognition by the industry reinforces what we have always believed – that Egypt is capable of developing award-winning developments."

Allegria received a five star in the Best Development category, beating Egypt's Damac's Hyde Park and West Side Village. Allegria was also awarded a four star in Best Golf Development.

There are 21 categories overall. Real Estate Agencies, Development, High Rise Development, Property and Retirement Development are entered at the County level leaving the remaining 15 to be entered at a national level. Up to two of the most outstanding entries in each category are awarded a four star and the best overall entry is given a five star.

The fact that Allegria earned two of these coveted awards is sure proof that Egypt’s Sodic can not only compete but also triumph within the highly competitive Arabian property arena. Having been given this high recommendation by its peers, the company is now entitled to display the CNBC Arabian Property Awards’ logo with pride. This symbol of excellence will be recognised and appreciated by the public who are becoming increasingly well informed and discerning about the properties they seek to buy.

The Best Development award was based on the location, external appearance, details of architectural design and the interior design. In addition the attention to details in terms of safety, security, energy efficiency and innovation were all recognized.

In terms of the Golf Development, Allegria has developed a signature golf course with golf legend, Greg Norman. Superior design, development and planning of the golf course earned Allegria this award.

About SODIC

SODIC is one of Egypt's fastest growing Real Estate Development Companies and is currently developing a vast number of Egypt's largest and most progressive projects in the most lucrative real estate sectors. These developments range from residential projects of different types to retail, commercial and even full-fledged city centres aimed at becoming the main urban hubs of both east and west Cairo. The estimated total value of the latter projects is in excess of EGP 25 billion and are projected to be completed over the next 8-10 years. SODIC is listed on the Cairo Stock Exchange (Ticker OCDI) and is a constituent of the CASE30 index. For more information please visit our website
at www.sodic.com or contact our Investor Relations Department at ir@sodic.com.

About Allegria

Allegria is an award-winning upscale residential community located in the fast growing suburb of west Cairo, on the Cairo-Alexandria Desert Road. Allegria covers 2.4 million square meters of beautifully landscaped green areas and parks surrounding an 18-hole Greg Norman Signature Golf Course. The project contains 1,046 villas and has the prestigious British International School in Cairo (BISC) at the heart of it.

Allegria’s residential units are designed by several distinguished local and international architectural firms including Michael Graves, Arquitectonica, Mark Mack and the Kamel Consultants and Research Group. The development’s master plan was designed by the world renowned New York-based firm EDAW, which won an award of merit from the American Society of Landscape Architects (ASLA) for their work on Allegria. To date Allegria has won three prestigious awards! The development is virtually sold-out and is set to be completed by 2012.

For more information:

Engy Emad
Media Relations
T: 02-33050014
F: 02-33050024
M: 010-7774433
Email: eemad@oc.com.eg