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La Serena Nabq Sharm

Discussion in 'Egypt property' started by queenie40something, Mar 24, 2008.

  1. queenie40something

    queenie40something Senior Member

    This development is in the area of Nabq where we are buying.

    It consists of studios, 1 and 2 bed apartments.

    The development is within walking distance to the Mangrove National Park in Nabq and the beach see Nabq Protected Area and is 1 min

    There is also an 18 hole golf course being built in Nabq and I believe 9 holes are already completed.

    The development will have a large pool in the centre and 2 smaller ones towards the front of the complex. There will be landscaping, security, maintenance, DSL etc.

    The one beds are 75m2 and 2 range from 80 up to 120 with a 10 yr building guarantee.
    Rental Guarantee of 9 % for 3 years with allowance of 4 weeks (2 high season and 2 mid season) for owner occupation.
    Maintenance charges are 50le per m2.

    Nabq is about 10 mins from the airport with the beach on your doorstep.
    There are about 3 shopping malls - 2 newly bilt which have lots of shops, bars and restaurants and Hard Rock is coming soon.
  2. Teds

    Teds New Member

    La Serena Nabq Bay

    Just reistered my interest in this new off plan ??? anyone ever heard of it???
  3. Lsab

    Lsab New Member

    Hi Teds and welcome to the forum. As you can see I've merged your thread with an existing one on this development. We hadn't had any replies to it so it gradually moved down to page 7. Maybe now it's back on the first page we might get some replies for you. :) What size apartment are you hoping to buy?

    We've had lots of new members this week and I've been asking them all if they wouldn't mind posting a little bit about themselves on the Introductions thread: It's not obligatory of ocurse but it's a good way to 'meet' everyone and for us in turn to meet you.

    Meantime if you need any help finding your way around the forum or have any questions at all, please feel free to ask one of the moderators - myself, Alison (queenie40something) or Lyndsay552.
    Best wishes
  4. queenie40something

    queenie40something Senior Member

    Hi Teds and welcome. This development is just up the road in Nabq to where I have bought. The prices last year were very cheap but I think they have gone up. What do you need to know about it or the area??


  5. leeds

    leeds New Member

    hi all, have any of you heard of laserena in nabq bay, if so is it ok, thanks debbie
  6. queenie40something

    queenie40something Senior Member

    Hi Debbie yes I have. It is off plan and at the other end of Nabq near to the Mangrove Park. It is near to the new golf course they are building. There will be a large pool in the centre and 2 more towards the front. The development will have over 300 rooms. A friend of In2 ( Darren ) has bought here so he may have some pics that he could post for you in the La Serena thread. I think phase 1 is due for completion in Aug and the rest up to 18 months after ( will be longer as Egyptian time ! ) I have seen pics taken in April this year and it is still a long long way off yet. The pre release prices were very good - under 15K for a studio but they will be more expensive now.
  7. queenie40something

    queenie40something Senior Member

    Hi Debbie - I have moved our posts into this thread.
  8. leeds

    leeds New Member

    thanks, how do i move into different threads ie sharm, do you know if the developer is ok, thanks, debbie:):):)
  9. queenie40something

    queenie40something Senior Member

    Hi Debbie - only mods can move posts and threads once they have been posted. I will try and find out for you.
  10. Teds

    Teds New Member

    la serena

    Hi Debbie

    I have just forwarded a deposit on a 1 bed in La Serena, it seems a good deal. I am dealing with Roland Meli in the Manchester Office. In 6 weeks I hadnt heard from them not even a receipt for £28750 I sent an angry email and Roland was in Sharm sorting out the wording of the contract. My 1 bed is overlooking the road with a glimpse of the sea from the balcony. Have you invested there???

  11. leeds

    leeds New Member

    hi teds, no not yet, cant seem to makr my mind about anything, been looking at the the view , with not been over it is hard to make a choice, debbie
  12. Teds

    Teds New Member

    Im thinking of going ahead with the purchase in La Serena. I now need a lawyer. Has anyone any good experience of one . I am interested in purchase contract banking and making a will. Any advice would be great.

  13. queenie40something

    queenie40something Senior Member

  14. starsailor

    starsailor New Member

    Please could you tell me how the rental agreement works, guaranteed 9%, does that mean that the rental company are keeping 91% of your rental money, for there services and only giving you back a misely 9% of your total rental income for the year ?
  15. starsailor

    starsailor New Member

    La Serena

    9% rental agreement does that the rental company take 91% of your rental income for there services and you get to keep a misely 9%, please explain how it works.
  16. swim-maestro

    swim-maestro New Member

    In simple terms it means you will receive 9% of the purchase price of your apartment per annum.For example a £20000 property will generate you £1800.
    Whether this agreement is gross or net is another story...
  17. Teds

    Teds New Member

    No refund deposit returned

    I sent a deposit of £2800 to a Roland Meli of SSQ Investment and Real Estate. The deposit was sent in May 2008. We got as far as sorting out a contract but that was the end of the investment. Roland Meli is no longer with the company. I find it impossible to get any satisifaction from anyone in the Naama Bay office or their London Office. any suggestions please would be most welcome.

  18. queenie40something

    queenie40something Senior Member

    Hi Teds - have you been in contact with Rob?? He has also bought here. I have seen updated pics and it has come along leaps and bounds. Rob flew out today and I am meeting up with him next Sat in Nabq so if you need any pics, updates, whats what let me know and we will try and get back to you.

    Did you purchase?? If so what lawyer did you use??
  19. Teds

    Teds New Member

    No I did not purchase as there was no apartment to purchase! Roland Meli never put my name on the allotted apartment. Now I am trying to get my refund back. Ahmed Saeid is now in charge out in Egypt. The office in Nabq Bay not longer exists. SSQ are operating from Naama Bay. What a nightmare!!!!

    If you are talking with Rob will you please ask him to tell Ahmed Saeid that we are taking the matter further.

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