June 13, 2022

Ras El Hekma Resort: Architectural icon in North Coast


M Squared obtains ministerial approval for project, prepares to start construction works

In a step that represents an important addition to the North Coast projects, M Squared for real estate development has announced obtaining the Ministry of Housing, Utilities and Urban Communities’ approval for its first tourist project, “Ras Al-Hekma Resort”.

Karim Malsh, Chairperson of M Squared, said that the Ras Al-Hikma Resort comes in line with the company’s expansion strategy, which aims to implement innovative and sustainable projects, especially in Ras Al-Hikma, 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 Ras Al-Hikma Resort will be established on an area of​​112 feddan, in the Fouka area which overlooks Ras Al-Hikma Bay, which has the most beautiful beaches in the world.

Malsh 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 Ras Al-Hekma Resort 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.

Malsh said the company will apply for required licences to start construction works as soon as possible, pointing out that the Ras Al-Hikma Resort will be implemented in two phases.

M Squared is one of INTRO Group companies, one of the largest investment groups in Egypt, established in 1980. INTRO Group includes 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.

thedailynewsegypt


Categories : tourism

Finance & Economy

Egyptians for Housing’s H1 consolidated profit hikes 77.5% YoY

2022-08-12 11:00:00

Arab Finance: Egyptians for Housing and Development Company (EHDR) consolidated net profit attributable to the parent company of"...
Read More

Naeem Holding turns to profitability in ...
August 12, 2022
GrubTech, Geidea team up to provide e-pa...
August 12, 2022

Latest News



tourism

132 hotel establishments in Sharm El-She...
August 12, 2022
Egypt to restore less than 70% of its pr...
August 10, 2022
Egypt, Poland discuss ways to foster tou...
August 8, 2022