M2 Developments to reclaim 800 feddans in Aswan’s Al-Nakra Valley late 2016

Egypt-based property developer M2 Developments, previously known as Misr Al Mahrousa, is planning to reclaim 800 feddans in Al-Nakra Valley in Aswan by the end of 2016, its Chief Executive Officer, Mostafa Aboul Fotouh said Sunday.

The reclamation process will cost 100 million Egyptian pounds ($11 million), Aboul Fotouh added.

The company will implement the project through its affiliate, Al Fajr for investments and land reclamation.

M2 Developments was established in 1998 affiliated to INTRO Group, it continually searched for the best areas in Egypt to build and provide real estate of high quality and standards.

The company aims to provide affordable residential and commercial units in congruence with governmental current goals for residential projects.