SODIC signs settlement in relation to 1,400 acres of Sheikh Zayed land
(World News Egypt)

Cairo, Egypt | 9th of December 2018 SODIC signs settlement in relation to 1,400 acres of Sheikh Zayed Land By way of background, A judgement was passed by the criminal court against the former Chairman of Sixth of October Development & Investment Company ("SODIC"), Mr. Magdy Rasekh and other defendants, being non related parties to SODIC, in their personal capacity on 21st of September 2015, on account of misappropriation of public funds and profiteering with respect to the Sheikh Zayed land of approximately 1,400 acres acquired by SODIC by virtue of sale contract dated 19 November 1995. On 21st of December 2016 a judgment was issued by the Court of Cassation confirming the...