Intro Group’s real estate arm M squared is looking to expand its footprint in the North Coast and explore ways to enter the Saudi market. The company plans to partner with other developers to work on two plots on the North Coast and one in Saudi Arabia in the near future, CEO Karim Malash said during a press roundtable attended by EnterpriseAM.

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The company has earmarked EGP 3 bn for construction work in 2026, Malash said, adding that it secured EGP 2.5 bn in bank and mortgage financing this year to support construction plans in east and west Cairo as well as the North Coast. M squared has so far developed around 35% of its 226-feddan land bank.

M squared has allocated EGP 15 bn to its first North Coast project Masyaf Ras El Hekma, with the 182k-sqm project being developed in two phases through 2030. The company has already invested EGP 3.5 bn in the project, Malash said. It is targeting EGP 12 bn in sales in the coming years, after booking EGP 7.4 bn since its launch. M squared has sold 917 out of 1.3k units in the project, delivering 104 so far, with plans to hand over another 140 units in 2026.

The North Coast is at the center of the company’s growth plans. M squared is also in negotiations to acquire two new land plots of around 200 feddans each on the North Coast to launch new projects. It plans to kick off the summer season early at Masyaf Ras El Hekma in April 2026 by launching a medical tourism program offering fitness, weight-loss, and detox packages. This follows the decision to extend the summer season through the end of October 2025, with the company planning to operate the project’s hotel for five months starting next year, in line with efforts to make the North Coast a year-round destination.

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