M squared's Masyaf Ras Al Hekma reaches 41% construction completion as phase two begins
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M squared, the real estate arm of Intro Holding, announced that its Masyaf Ras Al Hekma destination has reached approximately 41% overall construction completion, with phase one on track for delivery by the end of 2027 and total sales reaching 70% of the project's inventory.
M squared announced that its Masyaf Ras Al Hekma destination has reached approximately 41% overall construction completion, as development accelerates across the 1,546-unit project and construction begins on Phase 2. The company carried out approximately EGP 700 million worth of construction and development works at Masyaf during 2026.
Construction is currently underway across the entirety of Phase 1, comprising 347 units scheduled for delivery by the end of 2027. Redcon Construction has joined the project as a major construction partner, with works progressing on the Lagoon Buildings and construction underway across all Phase 1 lagoons. The company has delivered 160 units to date, while total sales have reached 70% of the project's overall inventory.
Karim Malash, Chairperson and CEO of M squared, said the company's focus over the past year has been on accelerating construction, fulfilling delivery commitments, and developing Masyaf as an integrated operating destination. The destination has expanded its commercial and lifestyle offering to 35 F&B, retail, wellness and lifestyle outlets, compared with 17 in 2025.
The expansion includes new beachfront F&B concepts and a partnership with Impact Hospitality Group to manage Marmarica Boutique Cabanas, which is operating with 42 keys during the 2026 season. M squared has also secured approvals for its shoreline protection and enhancement project, with construction scheduled to begin in October 2026, and expanded the desalination plant's capacity to 1,000 cubic meters per day.
Beyond the property itself, M squared has expanded community, cultural and sports activities during 2026, including partnerships with AlphaX Hybrid Fitness Racing and GRID, as well as sponsorship initiatives supporting Egyptian athletes across multiple disciplines.