Egypt's SODIC posts 2013 net loss of $64 million
CAIRO, April 22
CAIRO, April 22 (Reuters) - Egyptian property developer SODIC said on Tuesday it made a net loss of 447.1 million Egyptian pounds ($64 million) in the year 2013.
The company had made a net profit of 257 million pounds a year earlier.
Egypt's real estate industry was thrown into turmoil after a popular uprising ousted President Honsi Mubarak in 2011, hitting demand for high-end property. ($1 = 6.9902 Egyptian Pounds) (Reporting by Asma Alsharif; Editing by Erica Billingham)