In a step that represents an important addition to the North Coast projects, M squared Development has announced obtaining the Ministry of Housing, Utilities and Urban Communities’ approval for its first tourist project, “Masyaf Ras Alhekma”.
Karim Malash, CEO of M squared, said that the Masyaf Ras Alhekma comes in line with the company’s expansion strategy, which aims to implement innovative and sustainable projects, especially in Ras Al-Hekma, the latest fourth-generation city in Egypt. It also comes in line with the state’s efforts to transform the North Coast into an active community all year round, not just during the summer.
He praised the New Urban Communities Authority (NUCA) for facilitating project licensing, noting that putting the NUCA in charge of the Northwest Coast’s lands was an important step for accelerating development in the region and attracting investments.
The Masyaf Ras Alhekma will be established on an area of 112 feddan, in the Fouka area, which overlooks Ras Al-Hekma Bay, which has the most beautiful beaches in the world.
Malash also said that the company sought the assistance of major consulting offices to develop an innovative design of the project, allowing the largest number of units to have a direct view of the sea. At the heart of the project, there will be a lagoon – an artificial lake of renewable sea water – on an area of 18 feddan.
He indicated that the project is a mixture of residential buildings and green spaces that meets customers’ needs, and provides a unique living experience. He stressed that the Masyaf Ras Alhekma will be a new icon and an important addition to the Northwest Coast projects.
The built-up area is 30 feddan, and includes over 100 separate and connected villas and 60 buildings with units of various sizes. There will be a hotel on an area of 20 feddan with a total of 258 serviced apartments that will be managed by a famous hospitality company, in addition to an integrated services area.
M squared is one of Intro Holding companies, one of the largest investment groups in Egypt, established in 1980. Intro Holding includes several companies working in petroleum, auto industries, financial investment, agriculture, and food. It employs about 5,500 employees.
Since its establishment, the company has introduced a new concept into the real estate market, and launched projects that adopt sustainable development standards and green architecture in their various stages, including solar energy systems and smart irrigation, and benefit from the successive developments in digitization and smart applications in project management and operation.