A big problem for many Investors are the promises made by Developers about how much the market is rising and how if you sell in a year or two you will double your money. Often this can be true but there is just one problem; you are several thousand miles away and relying on other people to do the job for you!
In Sahl Hasheesh, a rapidly developing resort complex near to Hurghada on the Red Sea, the constantly improving infrastructure and especially the recent announcement of the new Serrenia marina project designed by Sir Norman Foster, has led to a huge increase in demand and the Developers are happy to sell units for Investors who bought in the early stages. This is a refreshing attitude which is often not apparent with other projects.

Peter Mitry

Peter

This is very interesting since I asked this before deciding not to buy in Sahl Hasheesh and got a very empathitic NO from Resort Alliance - so I'm not sure that this an acceptable post, unless you can offer some evidence to prove this is real.

When you visited Sahl Hasheesh in March the Directors of Resort Alliance were in Spain with me; I don't know who you saw but certainly not any one with the authority to explain Resales. Since your visit, there are now two sales offices open on site in SH with a total of 7 sales staff, and there will shortly be another in central Hurghada, followed next year by one in El Andalous and later in Ocean Breeze. The front line apartments in all three complexes are constantly in demand, RA have sold two for me in the past year.

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Sounds good to me. Thanks for the comfirmation. Looks good for those who took the risk early on. Based on the orginal prices anybody selling today should make a good profit.

My questions way back in March 2007 related to both flipping and post completion sales - the empathic no was for flipping and a "not sure yet" on post completion - not encouraging at the time - but as you well know there were more issues that just the resale problem that stopped me buying.

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So Dave,
I know this is a very old thread, but out of curiosity have you now brought in Sahl ?

Im not sure abotu Dave but I have purchased in Sahl Sanchez.

The area has huge potential and in my opinion it will top the success seen in el gouna.

regards

Steve

I'm looking in Sahl as well, although I'm happy to own properties in El Gouna.
I think it's "horses for courses" and will each will attract a different clientel.
If all goes to plan Sahl will be a fantastic place in 3 - 5 years, El Gouna is a fantastic place now.
I was going to live somewhere or go on holiday next week, I would go to El Gouna.
If I was purely investing ..... then possibly Sahl ..... ???

Steve, where did you buy ?

I agree. Interestingly me and my girlfriend are planning on our 1st holiday to Egypt early september and El Gouna is our preferance.

Based on your local knowledge of the area, could you recommend a hotel/resort in el gouna (5*)?

I have reserved a property on the Veranda development Sanchez.

regards

Steve

Hi there Steve,
great stuff. El Gouna is lovely. I was just there a couple of weeks ago with my girl friend.
Our favourate hotel is the Movenpick. Restaurants, pool, beach, spa are all really nice.
We often spend a day there enjoying the pools.
As we have an apartment though I have never stayed there, although I hear it is good.

Steve, I may have a better idea......
I have a lovely 2 bedroom apartment in the Upper Nubia area of El Gouna.
It's a 5-10 min walk from the Marina and quite close to the best beaches.
It's about 20 meters from a really nice lagoon which we swim in too.
It has all the mod cons, TV, air con, fridge, oven, qualtiy beds and furniture, nice linen etc.
You also get the use of an owners card for the week, which gives you a minimum of 10% discount at all the restaurants and hotel facilities including the Movenpick.

On my last trip there (2 weeks ago) I decided to get it managed by an agent who are also friends of ours.

Let me know if you fancy it and I can send you my agents details.
I'll even throw in a 10% discount seeing as you are on this forum.
Drop me an email at dlipsham@yahoo.com and we can go from there.


BTW - I have heard good things about Veranda ..... Will have fantastic views.

Dave

No I decided that I could not trust what I was being told and did not like the one sided contract terms.

So I decided to spend the money on some land and build my own apartment

- AND 23 others - hence the birth of RED SEA RESIDENICIA, which is what Red Sea Developments is selling in Arabia Beach Area of Hurghada, at much more sensible prices.

Sure it's not going to compare to Sahl but neither do the prices.
.
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