The Clap
SODIC’s subsidiary, Al Yosr Real Estate Investment, signed a credit facility with the Arab African International Bank for EGP 2.7 billion.
You should know
Credit facilities allow entities to borrow without any prior request. In this case, the total financing Al Yosr can borrow is EGP 2.7 billion.
What
SODIC said this step aims to increase the company’s investments financed by debt to maximize returns for the company, a move also known as financial leverage.
So what
This facility is considered a certificate of confidence in SODIC’s financial performance.
Now What
This line of credit will be used to finance part of “The Estates” project in West Cairo.
