SODIC’s Work-in-Progress Portfolio Climbs 17% to EGP 59.2 Billion
Egyptian real estate developer SODIC increased the value of its development work in progress to EGP 59.2 billion by the end of June 2026, reflecting a sharp acceleration in construction activity across its project portfolio.
The balance rose from EGP 50.5 billion at the end of 2025, representing growth of approximately 17.2% during the first six months of the year. The increase points to heavier spending on projects under development as the company moves forward with its delivery pipeline across East Cairo, West Cairo and the North Coast.
The higher work-in-progress balance comes alongside strong operating momentum during the first half of 2026. SODIC recorded gross contracted sales of EGP 23.5 billion, up 201% year on year, while revenues increased 25% to EGP 6 billion.
Net cash collections rose 18% to EGP 10.2 billion, while unit deliveries climbed 78%, supporting revenue recognition during the period.
The company posted a gross profit of EGP 1.6 billion, with an operating profit of EGP 942 million and net profit after tax of EGP 834 million.
SODIC’s unrecognised revenue backlog reached EGP 116 billion at the end of June, providing the developer with greater visibility over future revenues as construction progresses and units are handed over.
The expansion in projects under development reflects a period of intensive execution for the company, as Egyptian developers face higher construction costs while seeking to maintain delivery schedules and capitalise on sustained demand for residential and second-home properties