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M Squared advances Ras Al Hikma development
The "Ras El Hekma Summer Resort" project aims to develop a tourism resort on the North Coast of Egypt. M squared, the real estate arm of Intros Group Holdings, has completed approximately 41% of the construction work so far, with the second phase beginning to accelerate implementation. The project includes 1,546 residential units with a total investment of 14.5 billion Egyptian pounds, of which 8 billion will be spent over the next 3 to 5 years. By 2026, 160 units have been delivered, and the project aims to deliver 507 units by the end of 2027. Plans include improving infrastructure and services, increasing entertainment and commercial activities, expanding hotel facilities, addressing beach issues, and increasing water desalination. The company expects to achieve sales between 7.5 and 8 billion Egyptian pounds in 2027, with planned investments reaching up to 3.5 billion pounds to support expansion and ongoing construction activities.
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