Wednesday 05 Feb
M Squared, a real estate developer, has announced the launch of its new project, 31WEST, in West Cairo. The project spans 31 acres and represents an investment of between 6 and 6.5 billion pounds.
According to Karim Malash, the company's CEO, 31WEST will comprise 480 units, divided into three phases, and is expected to be completed within three years. M Squared is targeting the foreign market for this project and plans to market it in Saudi Arabia, the UAE, Kuwait, and other countries to attract international buyers.
Malash noted that international clients, including foreign nationals and Egyptians living abroad, already account for 25 to 30% of the company's sales. He emphasized the company's focus on meeting the needs of this segment to attract more foreign currency.
M Squared has also acquired two plots of land totaling 236 acres through direct allocation from the Urban Communities Authority. The company plans to launch a new project on one of these plots, located in East Cairo, within the next six months.
