Egypt’s M2 Developments to start M2 Gardens phase I in Q3
Egypt-based property developer M2 Developments, previously known as Misr Al Mahrousa, will start implementing M2 Gardens phase I during the third quarter of 2016, its Chief Executive Officer, Mostafa Aboul Fotouh said Sunday.
The first phase of M2 Gardens would be with total investments worth 900 million Egyptian pounds (US$101 million).
Aboul Fotouh told Amwal Al Ghad that M2 Gardens is a distinctive compound in New Cairo, consisting of villas and blossoming landscape spread over an area of 35.5 feddans. It includes 950 fully finished residential units, carried out through three phases with total investments worth 2 billion Egyptian pounds
The first phase of M2 Gardens would be delivered during the last quarter of 2016, while the whole project would be delivered in 2021.
The total built up area is only 25% of the total land space of the project, while the remaining 75% is dedicated to greenery and service roads.
The project promises wide range of different building types and spaces ranging from 146 to 365 meter square, with private gardens ranging from 35 to 85 meters square and private pools.
Moreover, Aboul Fotouh added that his company is planning to participate in carrying out more projects in the Egyptian real estate market.
