White Sands Development Hurghada

swede · #1 18-09-2008, 07:21 PM

Hello All,

Hoping I'm posting this in the right section.

I'm a new member at this forum but having had a look around there seems to be an awful lot of helpful people about. Have been thinking about buying a flat in Hurghada both for personal use and as a general investment.

Looking around on the net the White Sands development has caught my eye but I am a little concerned. In some places it's been advertised to be finished end of 2008 but the date has now been put back to 2010 and there doesn't seem to be any pictures anywhere of progress etc.

Does anyone know anything about this development, has it been started, could it be a worth while investment or is it likely to sit there as one of those shells that take years and years to finish?

Any input would be appreciated

propertastic · #2 18-09-2008, 07:36 PM

White Sands could hold the record for the slowest moving project in Hurghada. It's been planned forever - the developer, Marina D'Or has three different offices in Hurghada, none of which I have ever seen open.

The rumours that I heard is that it's going on sale at EUR2000/m2 - which is twice as expensive as anything else in Al-Ahyaa at the moment and even more expensive than the luxury resorts of El Gouna and Sahl Hasheesh.

Nothing has happened on the site for over a year now apart from the erection of a nice billboard.

swede · #3 18-09-2008, 08:08 PM

Hmmm, maybe not the best company to spend my money with then

.

I'm very new to the "buying off-plan game" but it seems like a good investment if you get it right. In general, are there many developments in Hurghada that only get half-finished?

HORIZON · #4 18-09-2008, 08:16 PM

I guess they started to move around with the development. I have met the representative from Spain once, but Marina d'Or development is just not more different than the others to be that expensive as was mentioned above.

From what I have seen, they are developing massive resort like projects and I think what they are ready to produce here ir not meant for the market. But who knows...

The office in Cairo works though

HORIZON · #5 18-09-2008, 08:28 PM

Quote:

Originally Posted by swede

Hmmm, maybe not the best company to spend my money with then

.

I'm very new to the "buying off-plan game" but it seems like a good investment if you get it right. In general, are there many developments in Hurghada that only get half-finished?

There is a loooot of unfinished construction here really mostly from simple people who build floor by floor for their own families. Hurghada is one big construction zone no secret, because there is no city planning or similar in place. By the time this changes here, Hurghada will be oversupplied with new houses. Still it is good time to enter the market now especially in the North of Hurghada - Ahyaa area, and South (Sahl Hasheesh, Safaga, Marsa Alam, Port Ghalib).

swede · #6 18-09-2008, 08:37 PM

My biggest concern is that I put my money down and end up like a lot of people in south of Spain, with an apartment in a development that is not going to be finished. But as they say, nothing ventured, nothing gained. Any tips of how to find a good developer?

HORIZON · #7 18-09-2008, 08:44 PM

Quote:

Originally Posted by swede

My biggest concern is that I put my money down and end up like a lot of people in south of Spain, with an apartment in a development that is not going to be finished. But as they say, nothing ventured, nothing gained. Any tips of how to find a good developer?

You can definitely look around the Totally Property Forum - you ll get a notion at least. One way to go is look at the background of the developer - does he have any finished projects? did he finish them on time? how is the progress on the site going - constant or with pauses - you will know then how they finance it...

propertastic · #8 18-09-2008, 10:18 PM

Quote:

Originally Posted by swede

My biggest concern is that I put my money down and end up like a lot of people in south of Spain, with an apartment in a development that is not going to be finished. But as they say, nothing ventured, nothing gained. Any tips of how to find a good developer?

As others have mentioned, it is good to spend some time just browsing through the posts on his forum. There are some high profile projects that are heavily promoted and marketed which are selling well. And if they are selling well, it means that the money is coming in to keep the building going.

However, if you see some threads about some developments that got few replies, it could very well mean that the project is not being promoted very well and that could end in problems.

Hameed · #9 19-09-2008, 11:14 AM

What about Sara's Residence? That is almost completed. I have been given a completion date of Dec 08. It is in a very central location and comes with usual high standard facilities such as swimming pool etc. I'll be interested in other peoples opinion on this project?

HORIZON · #10 19-09-2008, 01:19 PM

Saras Residence is developed by Resort Alliance, so with their paces selling projects in Sahl Haseesh I dont think they will have problems with cash flow even if they dont succeed to sell out Sara.

I would think however it is a little bit overpriced.

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