Hania Beach, Central Hurghada, Egypt - Due for completion Summer '09.

[redangel7861]

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.

 

[queenie40something]

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

Alison

 

[redangel7861]

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

 

[realestatemart]

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 (5 star Atlas golf resort with solarium) and had put down a refundable deposit in a new development in an area called Saidia on the norther Medetranian coast of Morocco. It was a beautiful two bed penthouse with a solarium over looking a golf course, and was going to be on a 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. 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 attenyion to Eqypt, Harnia beach. My first rule of investment is always put down as little of your own capital as possible and use a dveloper 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 abd 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.

hi Red
Check Marlion Thread on this forum

 

[redangel7861]

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

 

[redangel7861]

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

 

[redangel7861]

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

Alison

Alison,

Is the Sharm area not leasehold?????

 

[Mark .Y.]

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 attenyion 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.

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.

 

[redangel7861]

I am not an Agent or Developer

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.

 

[queenie40something]

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.

 

[redangel7861]

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.

Hi Queenie.

I think Sharm is a great place with some great apartments. But as an investor I always look at freehold and also Hurghada is a developing area and is behind the curve when compared to Sharm. You will find that most investors, agents and developers are targeting Hurghada just because of the boom potential, hence in my opinion we will see much higher capital appreciation in Hurghada than in Sharm. The mortgage market is in it's infancy in Egypt but is about to take off along with the low cost carriers soon flying to Hurghada International airport. Once these two factors happen, anyone who has purchased in the Hurghada area will see very healthy returns on their capital, in my opinion.

Again, it's all about lifestyle issues. If you've purchased in Sharm for a second home then that's great, but if it was for investment then in my opinion you would have been better of purchasing in Hurghada.

Again, these are my opinions only.

Rgds
RED

 

[queenie40something]

Hi Red - yes agree ref investing. I hope for the sake of many that Hurghada will have more airline options flying out there and hopefully Easyjet will continue. We have only bought 1 apartment and it is really just for ourselves. We did not buy with the intention of letting it out. Of course when we are not using it we will let it to friends and families as this will help it pay for itself.
We are contemplating moving out there next year.

Regards

Alison

 

[redangel7861]

Hi Red - yes agree ref investing. I hope for the sake of many that Hurghada will have more airline options flying out there and hopefully Easyjet will continue. We have only bought 1 apartment and it is really just for ourselves. We did not buy with the intention of letting it out. Of course when we are not using it we will let it to friends and families as this will help it pay for itself.
We are contemplating moving out there next year.

Regards

Alison

Hi Alison.

Like I've said it's all about lifestyle choice, and you've made a good choice.

With regards to airlines, the more popular Hurghada becomes the more airlines will fly there with more flexible fight times. It's all about demand, and if the demand is there then we will see an increase in flights.

All the best with your apartment.

Regards
Red

 

[queenie40something]

Thanks Red - all the best with your investments.

 

[realestatemart]

Alison,

Is the Sharm area not leasehold?????

Hello sharm is not free hold its 99 years lease

 

[redangel7861]

Hello sharm is not free hold its 99 years lease

Realestate.

We already know that, but thanks anyway.

Rgds
RED

 

[realestatemart]

Realestate.

We already know that, but thanks anyway.

Rgds
RED

No Problem

 

[dave99]

Cost of marketing

.
This development looks as though it's going to get the really hard sell / high profile / very costly marketing push - I've had several e-mails about it and the level of information is not very good - interesting that there is no location map.

I suspect that the high cost per sqm is to pay for the selling costs that will need to be incurred over the next 2 years or so.

It may well turn out to be a great development but is currently priced to allow big discounts to be offered by "exclusive" agents.

.

 

[redangel7861]

.
This development looks as though it's going to get the really hard sell / high profile / very costly marketing push - I've had several e-mails about it and the level of information is not very good - interesting that there is no location map.

I suspect that the high cost per sqm is to pay for the selling costs that will need to be incurred over the next 2 years or so.

It may well turn out to be a great development but is currently priced to allow big discounts to be offered by "exclusive" agents.

.

Dave,

If you look at post 71 on this thread you will see three Google earth maps pinpointing exacty where the location is. Again, this is pre-launch and all the info will be available on launch.

 

[dave99]

No such thing as "pre-launch" for this project

Dave,

If you look at post 71 on this thread you will see three Google earth maps pinpointing exacty where the location is. Again, this is pre-launch and all the info will be available on launch.

Sorry but with this amount of info and selling already happening there is no way that this is still "pre-launch".

The only relevance to this statement is to allow the discount to be offered
- it's a will used marketing tool
- but please see it as such and take a more realistic view on the true value that you might be thinking of buying into.
.