That's the idea. I already have property in Turkey, and one completing in Malaysia 2009, so I'm not in a hurry and as you say generating income at the same time.

i have started to look at marsa alam, it would be my first ever investment, i like the idea of the 10% rent for the first 5 years.
very new to all this so need to learn alot more yet.
i have been to marsa alam, sharm and hurgarda and loved all 3. marsa alam does not seem to have anything other than the hotels but.. and for me it was a big but the diving is very very good and was mostly shore based which is nice easy diving.
the property i was looking at looks like it would have all you would need, shops, places to eat etc.

Hi RJW,

If you feel happy about the project then go for it. I have made my views clear on Marsa Alam on this thread but its a personal choice.

On this forum there are numerous comments on other investment areas such as Hurghada, Sahl Hasheesh, El Gouna, Sharm el Sheikh, Gamsha Bay etc

I would suggest you read all these as it is your first investment before you jump into any particular area.


Regards

Westmids33

oh i will without doubt, i have also been looking at sahl hasheesh as well and hurghada.
my comment on marsa alam was more about how much i enjoyed the easy diving out there.
how easy is it to rent out the appartments etc?
as you maybe able to tell from my posts i am new to all this. not really out to make fast money or lots of money but would be nice if i manage to cover the costs and get myself a holiday home in one of my favourate countries.

Where did you find this? Only thing I found was a news article dated 2006.

Libra: Large-Scale Plans In Egypt Return to Headlines
An atlas shows that Marsa Alam lies on the Red Sea coast of Egypt, but what it does not show is the presence in the resort of Libra Holidays Group, of Cyprus, and representatives of the Egyptian tourism ministry. You will need to switch to satellite technology to track the progress of the two parties as they develop 5 million m² of land in the region into a mixed-use resort. The project, which will cost a reported US$800 million, includes a number of hotels. A target completion date of 2014 has been set.

Here is another article. Just seach for libra investment marsa alam and a few articles will come up. This latest one above is from HVS International.

Yeh, thats the one I found from 2006. Couldn't find anything more recent though to see if its actually going ahead

We have an exclusive with an agent in Marsa Alam.

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Apologies did not get them all on first time.

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Goldberg

Any more info on this development?

Cheers