Just put down a £2,000 reservation on this pre-release. Priced at £700 per Sqm. Will go up to £800 on the 01.03.08. Developer will have a presenation on the 29.02.08, where if interested I can choose my apartment (2 bed 71 sqm at £50,000). 40% payable upfont and remainder 60% payable on completion.

Mortgage with large international bank written into contract for 60%. I have been told that this will involve a UK developer, 40% will be kept in Escrow account until completion and the apartments will overlook the beach and sea.

I have also been told that the finishing will be "incomparable" when compared against other developments in the area.

Hi,

Haven't heard of this development before,where in Hurgahada will it be located?.
Also who is the developer any idea?..

Hi WA I found it on the web and all it states is that it is 15 mins from the airport and 5 mins from Downtown.

Hi Queenie,

Thanks for that,the reason I was asking as the first post says central Hurghada so was Just seeing if it was in Sekalla,will take a look at it.

AWAHEE.

This is at the pre-launch stage so no details have been realeased yet. On the 29.02.08 I will be attending a launch evening where all plans will be released. I have been told that the location is ten minutes from the airport and even closer to the local village.

All I know is that it will be a reputable UK based developer, all monies will be held in Escrow, completion is due Summer 09, 40% upfront and 60% on completion (mortgage written into contract with large international bank (HSBC I believe), in terms of luxury and finishing none of the local developments will compare with this development, £700 psqm now (if you put down £2,000 pre resevation deposit before 29.02.08 - fully refundable) goimg upto £800 psqm on the 01.03.08.

Location will be forntline beach, 170 apartments being built (Studio to 2 bed apartments with roof terrace). First 100 reservations will be guranteed frontline beach and sea views.

Details so far:

Studios – £21,000 – £31,500 (30m2 – 45m2)

1 bedroom - £31,500 - £42,000 (45m2 – 60m2)

2 bedroom - £45,500 up to £70,000 (65m2 – 100m2)

Hope this helps.

Its beach-front in Al Ahyaa (on the road between Hurghada and El Gouna).

This is where most new developements beach-front will be released this year as its the only stretch you can find decent beach-front plots. The government also has plans to promenade the main road along this stretch leaving cars to use the other outside high-road towards El Gouna and Cairo. Should be a great place to invest and get in early.

PM me for more info.

couple of pics attached.

Attached Thumbnails

   

__________________
George/
Sun Homes Overseas Ltd
Properties in Egypt

Looks good guys,so are you saying it's on the same road as the Hotel Safir?.
By the way are you back George?.How was your trip?..

No its not near the Safir...thats in the centre of Hurghada...

Yeah got back friday, excelent trip, got a lot done... was cold for some time though!!

Back out again in a few weeks

__________________
George/
Sun Homes Overseas Ltd
Properties in Egypt

Guys.

What are you opinions regarding investing in this area. I have invested in Morocco where I have purchased 2 Bed penthouses in Saidia and Marrakech. I am now looking to diversify into Eqypt. This location and project seem ideal in terms of investment. What are your opinions??

Comments welcome

Hi George,

Sorry I have just seen the location on your post,I do apologise.
So you got any jobs going,maybe a post for a manager who could take all this travel strain off you,I'm available.LOL.