GBP 18,000 | Hurghada

DETAILS

RED SEA VIEW APARTMENTS, EGYPT


The Red Sea View Apartments development is situated away from any other buildings and is not overlooked by other apartments. The site is on a hillside immediately by the beach and all apartments have stunning, uninterrupted views north, east and west across the Red Sea.

Development Details:
256 apartments on 5 floors, ground floor plus floors 1 to 4
Lifts to all floors
4th floor apts have secluded rooftop terraces
Restaurant, cafe/bar, gym, supermarket, swimming pool, gardens
Reception area, fully maintained development
Private Beach and bar.

Price includes:
Fitted kitchen
Air Conditioning
Double-glazed windows

Furniture packs:
These will be available including kitchen white goods, please contact us for full details.

Building Schedule:
Work commences March 2008, completion March 2010

Contractual:
English language contract between buyer and developer at initial stage
Dual language contract between buyer and developer on completion for registration
Completion processed through local solicitor to include registration of ownership
Ownership is ‘joint freehold’, rather than leasehold

Builder’s construction guarantee:
20 years

Builder’s finishing guarantee:
1 year

Apartment size and Price:
Studio 46 sqm From £32,500
1 Bed 74 sqm From £52,500
2 Bed 99 sqm From £70,000
3 Bed 119 sqm From £82,000

Fourth floor with rooftop terrace an additional £3,000, £4,000, £4,000 and £5,000 respectively.

Services:
On-site management and maintenance service
Insurances and utilities
£300 per annum approx
Rental housekeeping service £300 per annum approx
Rental marketing service available

Investment potential:
Hurghada is expanding rapidly and is used by European tourists as an all-year holiday resort.

Capital Growth – property growth currently running at 15% - 20% per annum.

Rental income – exceptional return due to low capital cost - 12-month season. eg. 50% occupancy at £100 per week for a studio gives £2,600 per annum

HURGHADA:

Hurghada is the largest resort on the Red Sea Riviera. It was founded in the early 20th century and until a few years ago remained a small fishing village. It is now the foremost tourist resort of the Red Sea Coast and an international centre for aquatic sports, windsurfing, sailing, deep sea fishing, swimming, snorkelling and diving.

It is an established Egyptian town, with a new area south of the old town where new tourist development is being established. New build restaurants, bars and hotels can be found along the 3 km of seafront, with a 50 metre wide promenade.

RESORT INFORMATION

The unique underwater gardens off shore are some of the finest in the world. The warm waters are ideal for many varieties of rare fish and coral reefs which may be observed through glass bottom boats.

Hurghada has a museum and aquarium with complete collections of flora and fauna of the Red Sea.

The climate is also good for golf and the popular El Gouna golf course is just a short drive away. Other sites include:-

Day trip safaris to explore the mountains by camel or jeep.

Roman remains at Gebel Abu Dukhon.

Giftun Island 10km away offering day trips for snorkelling, a fish barbecue or viewing the Red Sea from a submarine.

A large amount of islands nearby all offering a combination of diving, snorkelling, fishing and swimming.

The old part of Hurghada town is called El Dahar and this is where you will find the towns largest bazaar, post office and long distance bus station.

TOURISM: SEASON ALL YEAR ROUND

Egypt has only two seasons. A mild winter from November to April and a hot summer from May to October. The only differences between the seasons are variations in daytime temperature and changes in prevailing winds. Throughout the year Hurghada has a warm and dry desert climate with a steady breeze. Rainfall Traces of rainfall but it is known for years to go by with no rainfall at all.

Flights Hurghada International Airport is 10 minutes drive from the development. It receives direct flights from UK airports and scheduled flights from Cairo.

FLIGHTS

Summer Flight Timetable 1st May to 31st October, Winter Flight Timetable 1st November to 30 April

During the summer timetable flights depart from London Gatwick on a Thursday and Friday, from Manchester on a Friday and Stansted on a Tuesday and Saturday. Note-Stansted flights are not direct and incorporate one or two stops.

During the winter timetable flights depart from London Gatwick, Birmingham, Bristol, Manchester and Glasgow all on a Friday. Thomas Cook Airlines fly from, Glasgow, Gatwick and Manchester.
Thomsonfly fly from Gatwick and Manchester.
My Travel Airways fly from Manchester.
Exel Airways fly from Gatwick, Manchester, Birmingham and Bristol.
British Airways operated by GB Airways fly from Gatwick.
Astraeus fly from Leeds/Bradford and Gatwick.

These are direct flights. Most of the UK airports offer flights to Hurghada although they may not be direct flights and frequency of these flights is likely to be reduced. The above details were correct at the time of printing but are subject to change.

General Information Currency Egyptian Pounds Time GMT + 2 hours
Telephone 00 20
Language Arabic

BUILDING SPECIFICATION

Reinforced concrete foundations
Floors in local made polished cream marble effect ceramic tiles all rooms.
Local made ceramic tiles in kitchens and bathrooms on the floor and on the walls.
Ceramic skirting boards fitted throughout.
Façade painted in single layer paint.
Interiors painted in cream color.
Interior plumbing in PVC, according to current regulations.
Outer carpentry in aluminum or wood surrounds.
Windows to be installed with double pane glass.
Electrical installation, including electricity socket points and light switches, cabling for interior and exterior ceiling and wall lights installed, according to current regulations.
Pre-installation for digital TV platforms.
Sockets for telephone, television and data, according to current regulations.
Electric water heater (boiler) 30 litre in each apartment.
Base kitchen units, stainless steel sink, granite work tops and local made water mixer taps.
Bathroom sanitary fittings in local made white porcelain (toilets, sinks, baths, showers) with local made water mixer taps and extractor fans.
Interior carpentry with white lacquered wooden doors with handles in chrome/steel/brass.
Bedrooms with fitted wardrobes with shelves and hanging bar.

Main front wooden door reinforced and lacquered with security lock.

Communal areas including swimming pools, an enclosed area with “Mediterranean” gardens. All gardens and communal areas to be fully irrigated and lighted. The perimeter of the development will be entirely walled for the privacy of the community.

Common smoke detectors in all interior rooms. The drive way and paths that join the development to the main road will be installed and tarmaced. The buildings color and architectural style should differ noticeably from that of any building built on the same piece of land.

INITIAL SALES PROMOTION

Those units purchased on pre launch will be with the following discounts already priced in:

4th floor - Free Rooftop Terrace - worth 3k,4k and 5k GBP.
3rd floor at 2nd Floor prices.
2nd floor at 1st floor prices.
1st floor - on request.



 The first 50 reservations on this project will benefit from a lower deposit of 35% deposit on contract ( + £2,000 reservation fee ) and nothing to pay until March 2010!

 This means you can own a property in the hot spot area of Hurghada with stunning sea views with only £13,375 and the balance in March 2010. The balance can be paid in in cash or you can obtain a mortgage on completion of up to 65% of the purchase cost.

 After the first 50 sales the payment schedule is 30% on contract (within 14 days) then 20% in the first year ( + £2,000 reservation fee ).

 Reserve early and spend your other cash later - makes sense!

 Keen investors will recognise this offers a superb return of up to 50% on capital invested!

 Put your money into a high street bank and only receive maximum 10% - no contest!

2ND SPECIAL OFFER (UNTIL 15TH NOVEMBER 2007)

 We are giving away a free private roof top terrace to top floor buyers, 3rd floor apartments at 2nd floor prices and 2nd floor apartments at 1st floor prices!

 Example of potential savings if you reserve a 4th floor unit before the first 50 sales and prior to 15th November. This example is based on a Studio.

 Cost: £34,500
 Reservation fee: £2,000
 Deposit: £12,075 ( 14days later )
 Total cash before completion: £14,075

Investment potential:

 Saving made: £3,000, as the studio would cost £37,500 from 15th November.
 Guaranteed cost of the studio in July 2008: £45,000 due to implemented price rises by 20% on launch price.
 Instant Equity of: £10,500
 Return on capital invested within the 1st 9 months: 74.6%

RED SEA VIEW DEVELOPMENT – HURGHADA LAUNCH PRICES











Area


Floor


Floor


Floor


Floor






sqm


1


2


3


4



Studio


42-50


£32,500


£33,500


£34,500


£37,500



18 / floor


ave 46


































1-bed


68 - 83


£52,500


£54,000


£55,500


£59,500



6 / floor


ave 74


































2-bed


96-107


£70,000


£72,000


£74,000


£78,000



25 / floor


ave 99


































2-bed


114 - 121


£82,000


£84,500


£87,000


£91,000



7 / floor


Ave 116


































3-bed


116-121


£84,500


£87,000


£89,000


£94,000



8 / floor


ave 119













Please note that these are the launch prices. Prices will increase by 10% in March 2008, and then by a further 10% in July 2008.