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Manta Resort in Hurghada

Discussion in 'Egypt property' started by propertastic, Nov 15, 2007.

  1. propertastic

    propertastic New Member

    I just spotted this post.

    I met with the developers of Manta Resort a month ago and we spoke about the project.

    I must admit that it was my seventh meeting of the day when I met them at 10.00pm, my girfriend was in hospital and I was in a hurry and so maybe was not as attentive as I should be.

    But the summary is that this development is in a "Houston, we have a problem" situation.

    It's something to do with planning permission, I think. They also mentioned that they are currently changing the entire plan of the the resort, with talk of building a marina.

    In the forthcoming Propertastic's Guide to Hurghada Property and Egypt's Red Sea Real Estate, we advise people to wait and see what happens with this development. I wouldn't put any money into it before their revised plans are finalized.

    If I was you, I would try and speak direct with the developers. Here are details of how they can be reached on Skype:

    Questions Online

    Just don't tell them that I was the one to send you there! :)
  2. dave99

    dave99 New Member

    Very helpful

    Did this Resort have a Due Diligence report by any chance.

    Any idea if the developer has been taking money without Planning Permission.

  3. propertastic

    propertastic New Member

    No idea - because I misunderstood the ramifications of Ramadan and the fact that no one works for another week after the holiday is over, I ended up having to make all my meetings on the last day I was in the town, so most of them only lasted 45 minutes, which wasn't enough to get into legal details with anyone.

    I think the problems are something to do with the fact that there are laws to say that you have to build on a certain percentage of the land over a certain time period before you're allowed to build on the rest of it. But I might be wrong - I'm no developer.

    I was just on the phone with Amanda from Egypt Uncovered and one thing we agreed upon is the insane behaviour of people who buy in Egypt without taking legal advice.

    You're only talking GBP300-500 so it's not going to break the bank.
  4. scubbydo

    scubbydo New Member

    Manta Residance

    Hi, I have just read you posting for the Manta Resort, Hurghada I have also bought one of the apartments and I contacted Eygpt Revealed through the lack of information. Have you purchased one, as I am reluctant to hand over anymore monies until any construction work starts.

  5. propertastic

    propertastic New Member

    Sorry to hear of your problems, Scubadoo.

    No, I haven't purchased a property there myself. My girlfriend acts as an agent for the developer on a couple of their other project, but not on the Manta Resort because of the fact that the project is currently in limbo.

    I suggest that you read your contract carefully to see if there are any get-out clauses in there.
  6. queenie40something

    queenie40something Senior Member

    Hi Scubadoo - we havent heard from you in a while so I was wondering how things were going for you on your purchase. Did you continue with it and maybe you could give us an update on how things are going.

  7. propertastic

    propertastic New Member

    The latest information that I have heard on this project is that it is not going ahead any longer. The land has been purchased by another developer who is currently putting plans together for a different development on the site, which is a really excellent on.

    I would suggest anyone who has bought at Manta Resort contacts their agents to find out exactly what the current status is on this project.
  8. queenie40something

    queenie40something Senior Member

    Hi Nick - thanks for the update and advise for anyone that has bought here.
  9. scubbydo

    scubbydo New Member

    Manta Resort

    Hi, the latest I have heard is the development is on hold due to council planning permission, apparently they submitted plans for a jetty the council turned them down so they were going to continue with the original plan, but the council made them re-submit all the original plans again and thats what the hold up is, obviously if they get the go ahead it won't be completed December 2008 as agreed they offered a refund a couple of months ago due to the fact they couldn't give a completion date. I stuck with the development, but the lack of information from the agent is driving me crazy. It would be good if I could find other people who have bought on this development.

  10. queenie40something

    queenie40something Senior Member

    Hi Scubby and thanks for the update and information. Hope all goes well for you and that there are other buyers out there for you to communicate with. Keep us posted on any developments.

  11. propertastic

    propertastic New Member

    They have been telling the same story now since I was first over here in October. As slow as the authorities are in Egypt, it doesn't take six months to get new plans approved.

    The developer of Water House Project which is two plots away from the Manta Resort plot is already well advanced in their plans to put a different development on this plot.

    My advice is to take the refund.
  12. queenie40something

    queenie40something Senior Member

    Has anyone any updates on this devlopment?
  13. propertastic

    propertastic New Member

    Still waiting for news of the new development on the site.

    The developer is very thorough and I know that he won't launch until all of the permits are in place. And this is not a very swift process as anyone buying a beachfront development in Hurghada will know by now.

    So don't hold your breath - it could be months still before the project is announced.
  14. Manta

    Manta New Member

    Hi everyone my name is Nasser I’m then new IT manager for Manta Real Estate Co.
    Yes there was few problems with Manta’s website but now its up and running, up to date with the new reduced prices Related to the global crisis which all people are facing now, comparing with all the surrounded projects prices, now manta’s projects in the most suitable prices with extra facilities such as (swimming pool, Kids Club, lovely land scalping, wonderful Annual membership for Beach use offer, and much more.. )
    For more information please visit our (New look) website
    I’m open for any suggestions or new ideas
    Regards to all :)
  15. Manta

    Manta New Member

    Hi its me again
    I saw that some Investors here are worried and asked about manta Resort, so I would like to clear things up,

    Manta Real Estate Development Hurghada – Egypt
    The company owns 3 Developments in Hurghada City

    1 Royal Manta 80% Sold
    Royal manta is an apartment’s compound all with sea view in front of Old Vick Resort
    Apartment’s sizes start from 48 sqm to 140 sqm
    90 % of the construction is already done and the completion will be in 4 months.

    2.Queen Manta 30% Sold
    Queen manta is a 5 floors building at Hurghada down town Elaroussa Square in front of Souvenir Hotel, Sea view from the third and fourth floors sizes start from 42 sqm to 75 sqm prices start from 2700 LE per sqm
    The completion will be in October 2010

    3. Manta Beach (Resort)

    Manta Real Estate Development BOUGHT & REGISTERED the Land at 2006,this land had already the Internment Projection agreement at 1995 for , license to create 20 m lagon, license for create 2 Islands, And license for 350 m Marina.
    And Manta got the council planning permission and all the other necessary permissions so we started to sale at 4500 LE per sqm and to prepare to build,
    New law shows up not to allowed most of this license motioned before
    and new organization start in Hurghada called (Beaches protection)
    so we had to start all the license over

    and it toke us two good years to get all that license Done
    we told all our Investors after we found out that we have to start all over the Story and we gave them a choice to wait or to refunded without predicting anything from the money they paid
    some they choose to take the money (and they had it) and some agreed to wait and to keep investing with us as they found the prices Next door is 11,000 LE per sqm
    so now all the necessary license and permission is done and we are ready to build we are just waiting to the world Economy crises to get better so we can start to build and to market for it.
    All the official papers and the licenses are in our office. Anyone is welcome to visit us and to see it if he want.


    Office Address is:
    Airport Road in front of Rajack School
    Above Iraeda Furniture
    3rd Floor
    Tel.: +2 065 355 78 19
    Fax.: +2 065 355 76 83
    Mob.: +2 016 11 88 617
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