M squared Plans Major Investment in Masyaf Ras Alhekma Development
By Eman Hamed
Egyptian developer M squared is set to invest up to 2.5 billion Egyptian pounds (approximately $49 million) in construction at the Masyaf Ras Alhekma development on the North Coast in 2027, according to Chairman and CEO Karim Malash in an interview with Zawya Projects.
The project currently stands at about 41% completion, with plans to deliver 347 units in 2027. The total investment for Masyaf Ras Alhekma is estimated at around EGP 14 billion ($274.5 million), with an additional EGP 8 billion ($157 million) slated for investment over the next five years.
M squared has partnered with Redcon Construction, which will handle the works for the 347 units, valued at around EGP 1 billion ($20 million). Notably, the company also increased the capacity of Marmarica Boutique Cabanas from 28 to 42 units.
In addition to the North Coast project, M squared is scheduled to deliver 100 units at its Trio project in New Cairo by the end of 2026. The developer’s existing portfolio features various projects, including 31WEST in 6th of October City, the MIST residential community, and the 41 Business District on Kattameya Road.
(1 US dollar = 51.05 Egyptian pounds)
Contact: Eman Hamed (Reporting); Anoop Menon (Editing) – anoop.menon@lseg.com
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