I am an investor in Hania and nothing more or nothing less.

Queenie, not putting my eggs in one basket was meant as not over exposing myself to the moroccan market. I've purchased a two bed penthouse in Marrakech morocco,(5 star Atlas golf resort with solarium) and had put down a refundable deposit in a new development in an area called Saidia, (Athena gold resort) on the northern Medetaranian coast of Morocco. It was a beautiful two bed penthouse with a solarium over looking a golf course, and Saidia is going to be world class super resort with over 3,000 luxury apartments and villas and 11 five star hotels. I decided to pull out because the aprtment was over £120,000 and the Saidia reort was a new development that could have taken over 8-10 years to establish itself. The exist strategy was going to be difficult in my opinion, with so many five star apartments and villas available. I believed there were cheaper alternatives with better capital appreciation in the short term. I've invested in Brazil in a development called Turtle Bay and have turned my attention to Eqypt, Harnia beach. My first rule of investment is always put down as little of your own capital as possible and use a developer or Bank mortgage where possible.

I did look at regency beach as it did meet my criteria in terms of frontline beach, small development and five star. But there was no mortgage available. Hania are offering 60% mortgage, Frontline beach, Five star developemnt and an escrow account for investor security. It's also a british developer so payments are made in sterling so not exposed to currency fluctuations.

If you are aware of cheaper developments that are five star with mortgage please let me know.

Thanks Red - will let you know - would you be interested in Sharm as an area too?

Alison

WestMid.

I have no problems with you PM me about alternative developments please do. I understand your reservations about the £800sqm and that was one of my first resevations as I had looked at other developments and wondered why this was so high.

Again, all will be revealed on launch day and I have information that I can not disclose that will, in my opinion justify the £700 and the £800sqm price.

If in any way I am unsure about any point or I in any way feel that the developers have not delivered then I shall simply ask for my refundable deposit back and look elsewhere.

In the mean time please fell free to discuss other developments in a constructive way.

Regards
Red

hi Red
Check Marlion Thread on this forum

RealEstate,

Is there a link to the thread, there are so many threads I don't want to trawl through all of them

Thanks
Red

Just to clarify. I am not looking for rental returns in Egypt but for capital appreciation.

I believe people who have purchased in the smaller, five star beach front developments
will do well. Purchasing on the super resorts will make it difficult with regards to exist strategy. Larger resorts also take longer to establish themselves. I suppose it all depends on life style issues, ie. are you purchasing for investment or for a second home.

I am purchasing for the former, and even though Egypt is a beautiful country I simply see it as an investment opportunity with a five year strategy.


Regards
Red

Alison,

Is the Sharm area not leasehold?????

OK, so you are a purchaser and nothing more, thank-you for the clarification.

WestMid33 - why do you continue to talk to Red as if he is a developer or agent for Hania ?

Mark .Y.

Mark.

Because I've purchased on Hania and am positive about my purchase he believes that I am an agent or developer. If he took the time to look at the Brazil and Morocco boards he will see that I am a simple and humble investor and not an agent like himself (who by the way is not selling Hania). I've checked other threads on this Egypt board and people are very excited about their investments, which is great to see and good on them. Apparently I'm not allowed to do the same or allowed to mention Hania on the Hania thread that is specifically dedicated for the Hania development, apparently it has upset various people on this board for doing that. I'm constantly told to look at other developments by various other people, which I respect and appreciate, but I have already looked at most in Hurghada and there not for me.

One rule I always have in purchasing is to get to know the developer of the project as well as I can, and that's not only on Hania but all the developments that I have invested in. Yes, I don't deny that I have built up a good relationship with the developer of Hania, but as an investor of their product I'd be a fool not to.

Hi Red - yes it is 99 year renewable lease in Sharm but it is not a problem. When you sell the new owner either keeps the existing lease and what is left on it or applies for a new 99 yr one for around £1000.