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

[Roger]

Whats pre-emption?

I think I got the terminology right!! It's where IPP have first shout on your apartment if you decide to sell on.

Zeiad emailed me to say he was getting on with the Due Dilligence and asking me to be patient I think he will then send out his details for fund transfers.

He'll be doing quite nicely, thank you very much, out of Hania and the forum in general

 

[Lsab]

He'll be doing quite nicely, thank you very much, out of Hania and the forum in general

True, but we should be better off too. The solicitor we're using on another development is charging twice that of Zeiad.

 

[MrSkipsey]

According to some posts on this thread the Egyptian Government are going to impose restrictions on frontline beach developments in Hurghada. You will only be allowed to build developments that are 200 meters from the beach. This is great news for people who have purchased on frontline developments, as it will surely add value going forward.

If this is the case then isnt Hania the last 'beach front' beach front to be built?!

 

[Roger]

True, but we should be better off too. The solicitor we're using on another development is charging twice that of Zeiad.

Yeah, I noticed his prices are good, and I've neither seen or heard anything to suggest his service is anything other than first class

 

[vanityfair]

Hi Red, Roger, MrSkipsey and Co.

Have just read from about page 20 to 57. Chris! Im knackered. I feel as though I know you all really well now! What a great forum, Red your information is superb. Have come across Hania beach by Experience International. Have recently invested in Ras Al Rhaimah and Dubai. Have some change left over and looking around for a punt other than the UAE. This development looks great. Price seems on the high end, but if this is for high quality then that suits me.
A few queries im sure you can help with before I make a reservation;

The CGI's pictures indicate studio's at 54.26m2 is this actual studio area or is this taking into account percentage of common areas. What is actual studio floor area?

Maintenace charges?

Utility bill charges?

Expected rental management fee percentage?

Rental prices?

Many thanks anyone who can help.

 

[MrSkipsey]

The CGI's pictures indicate studio's at 54.26m2 is this actual studio area or is this taking into account percentage of common areas. What is actual studio floor area?
I was told to minus 15-20% of the gross to get the living area but Ive had nothing confirmed as yet in writing.

Maintenace charges?
If I remember rightly it was £800/year

Utility bill charges?
Not sure yet mate

Expected rental management fee percentage?
I cant remember these off the top of my head

Rental prices?
As far as Im aware its gaining resort status so if you choose to rent through the management company then it will be rented to a well known tour operator. If not Ill probably charge between £100 - £150 / week to friends and family

Someone with more info then me about the resort will correct me if Ive misinformed you.

 

[redangel7861]

Hi Red, Roger, MrSkipsey and Co.

Have just read from about page 20 to 57. Chris! Im knackered. I feel as though I know you all really well now! What a great forum, Red your information is superb. Have come across Hania beach by Experience International. Have recently invested in Ras Al Rhaimah and Dubai. Have some change left over and looking around for a punt other than the UAE. This development looks great. Price seems on the high end, but if this is for high quality then that suits me.
A few queries im sure you can help with before I make a reservation;

The CGI's pictures indicate studio's at 54.26m2 is this actual studio area or is this taking into account percentage of common areas. What is actual studio floor area?

Maintenace charges?

Utility bill charges?

Expected rental management fee percentage?

Rental prices?

Many thanks anyone who can help.

Hi VF.

Welcome to the Hania forum. Just to clarify a few points from Skip:

1. 54.26 m is the gross area. Based on the plans I have seen you will have to deduct 25% of the gross area to get the net size of your apartment. As Hania has acquired resort status the communal areas have to be larger to adhere to the resort status requirements hence the communal area of 25% is slightly higher than normal due to the larger communal areas.

2. Rental yields for beach front apartrments could range from 8-12% based on articles I have read. Some have stated £195-£600 for beachfront apartments based on the size and location of your apartment.

Rgds
RED

 

[sharkboy]

Just a quick pointer.

I spoke to EI as i was awaiting contracts. I hadnt passed on my Passport details re number and issue date. This meant my contracts couldnt be sent out.

Worth chasing up if you havent heard anything.

 

[Lsab]

Now that I've received confirmation that our depost has arrived, I'd like to officially join the thread too Many, many thanks to Mr. R. Angel. Without his help and advice we wouldn't have a contract on it's way to us today!!

 

[Roger]

Now that I've received confirmation that our depost has arrived, I'd like to officially join the thread too Many, many thanks to Mr. R. Angel. Without his help and advice we wouldn't have a contract on it's way to us today!!

Wahey!! The Hania Clan goes from strength to strength... Congratulations Linda, I hope it all goes well for you (and the rest of us!).

The house warming just keeps on getting bigger and bigger

 

[redangel7861]

Now that I've received confirmation that our depost has arrived, I'd like to officially join the thread too Many, many thanks to Mr. R. Angel. Without his help and advice we wouldn't have a contract on it's way to us today!!

Congratulations Linda!!! and welcome to the Hania Club (no need to thank me, just glad to be of assistance)

 

[MrSkipsey]

Conratulations! Which unit did you reserve?

 

[Roger]

Contracts

I was just wondeing what everyone else thought of the late completion penalties? I know the contract is almost bound to favour the developer, but late payment vs late completion seems stacked against us.

Any thoughts?

 

[Lsab]

Thanks everyone for the congrats. Exciting time ahead! (We reserved #130 ground floor studio).

 

[MrSkipsey]

I was just wondeing what everyone else thought of the late completion penalties? I know the contract is almost bound to favour the developer, but late payment vs late completion seems stacked against us.

Any thoughts?

Im not sure if theres much lee-way in this. Id just be grateful if it was 1) built and 2) built on time!

Im more interested in the Due Dilligance. Has anyone heard back from Zaied yet or the lawyer that they are using about it?

 

[Raptureman23]

Had an email from Zeiad yesterday due diligence should be through in 2-3 days so Thursday or Friday

 

[redangel7861]

Had an email from Zeiad yesterday due diligence should be through in 2-3 days so Thursday or Friday

Yep, also got the same e-mail yesterday. Let's hope we get the green light soon.

Regards
Red

 

[vanityfair]

Are there any investers out there other than british in Hania. Seems to be completely marketed in uk. Slight concerns over exit strategy in 2 years time?

 

[Roger]

Hania Beach - Private thread

The private thread is now up and running. While I hope everyone will continue to post in the open forum, particularly with any helpfull tid-bits we find out, if anyone has an apartment reserved on Hania I would suggest that you PM Bob for access or post details in the relavent introductions thread.

 

[MrSkipsey]

Yep, also got the same e-mail yesterday. Let's hope we get the green light soon.

Regards
Red

Ditto,....Has anyone had a PoA yet also?