New Launch - India Real Estate Report 2026.
M squared's Masyaf Ras Al Hekma development on Egypt's North Coast has reached approximately 41% overall construction completion.
The developer has also started construction on Phase 2 of the 1,546-unit project.
Construction is underway across the entire Phase 1, which includes 347 units scheduled for delivery by the end of 2027.
Redcon Construction has joined the project as a major construction partner, with work progressing on the Lagoon Buildings and Phase 1 lagoons.
M squared Delivers 160 Units at Masyaf
M squared carried out around EGP 700 million in construction and development works at Masyaf during 2026. The developer has delivered 160 units so far, while total sales have reached 70% of the project's overall inventory.
The company is also expanding the destination's commercial and lifestyle offering. Masyaf now has 35 food and beverage, retail, wellness and lifestyle outlets and services, compared with 17 in 2025.
Also Read: SODIC Secures $147m CIB Facility for June North Coast
Masyaf Expands Hospitality and Waterfront Facilities
Marmarica Boutique Cabanas is operating with 42 keys during the 2026 season, including pool and seafront cabanas, rooms and suites. M squared has partnered with Impact Hospitality Group to manage the property.
The developer has also secured approvals for a shoreline protection and enhancement project.
Construction is scheduled to begin in October 2026, with the project designed to address erosion and flooding risks while protecting the sandy beach and improving swimmer safety.
Also Read: Solare Ras El Hekma: Egypt's Coastal Destination Model
Masyaf Strengthens Water Infrastructure
M squared has increased the capacity of Masyaf's desalination plant to 1,000 cubic metres per day.
Additional water wells have also been added to support the destination's growing community.
The continued construction, new hospitality offerings and infrastructure upgrades are part of M squared's plan to develop Masyaf as an integrated destination on the North Coast.
The developer is also positioning the project to support activity beyond the traditional summer season.
Enjoyed this update? Visit PropTech Pulse for more real estate news, investment insights and property market trends.
