Marsa Alam

[Rjw]

i have started to look at marsa alam, it would be my first ever investment, i like the idea of the 10% rent for the first 5 years.
very new to all this so need to learn alot more yet.
i have been to marsa alam, sharm and hurgarda and loved all 3. marsa alam does not seem to have anything other than the hotels but.. and for me it was a big but the diving is very very good and was mostly shore based which is nice easy diving.
the property i was looking at looks like it would have all you would need, shops, places to eat etc.

 

[WESTMIDS33]

First Ever Investment

i have started to look at marsa alam, it would be my first ever investment, i like the idea of the 10% rent for the first 5 years.
very new to all this so need to learn alot more yet.
i have been to marsa alam, sharm and hurgarda and loved all 3. marsa alam does not seem to have anything other than the hotels but.. and for me it was a big but the diving is very very good and was mostly shore based which is nice easy diving.
the property i was looking at looks like it would have all you would need, shops, places to eat etc.

Hi RJW,

If you feel happy about the project then go for it. I have made my views clear on Marsa Alam on this thread but its a personal choice.

On this forum there are numerous comments on other investment areas such as Hurghada, Sahl Hasheesh, El Gouna, Sharm el Sheikh, Gamsha Bay etc

I would suggest you read all these as it is your first investment before you jump into any particular area.


Regards

Westmids33

 

[Rjw]

Hi RJW,

If you feel happy about the project then go for it. I have made my views clear on Marsa Alam on this thread but its a personal choice.

On this forum there are numerous comments on other investment areas such as Hurghada, Sahl Hasheesh, El Gouna, Sharm el Sheikh, Gamsha Bay etc

I would suggest you read all these as it is your first investment before you jump into any particular area.


Regards

Westmids33

oh i will without doubt, i have also been looking at sahl hasheesh as well and hurghada.
my comment on marsa alam was more about how much i enjoyed the easy diving out there.
how easy is it to rent out the appartments etc?
as you maybe able to tell from my posts i am new to all this. not really out to make fast money or lots of money but would be nice if i manage to cover the costs and get myself a holiday home in one of my favourate countries.

 

[shellbell]

I know. I've just come across this on the net.

Libra Holidays Group has announced plans to develop an ambitious mixed use resort on Marsa Alam beach front. Plans for the five million square foot development were publicised shortly after the group agreed terms with the Minister of Egyptian Tourism Mr Mohammed Zohier Garana.

The project will provide Marsa Alam with further high quality hotel accommodation and diverse real estate developments. Also planned are a marina, sporting facilities including a golf course and a spa, shopping piazzas, a water park and other entertainment

Where did you find this? Only thing I found was a news article dated 2006.

 

[cin7166]

Libra: Large-Scale Plans In Egypt Return to Headlines
An atlas shows that Marsa Alam lies on the Red Sea coast of Egypt, but what it does not show is the presence in the resort of Libra Holidays Group, of Cyprus, and representatives of the Egyptian tourism ministry. You will need to switch to satellite technology to track the progress of the two parties as they develop 5 million m² of land in the region into a mixed-use resort. The project, which will cost a reported US$800 million, includes a number of hotels. A target completion date of 2014 has been set.

Here is another article. Just seach for libra investment marsa alam and a few articles will come up. This latest one above is from HVS International.

 

[shellbell]

Yeh, thats the one I found from 2006. Couldn't find anything more recent though to see if its actually going ahead

 

[DC]

Marsa Alam Pictures

We have an exclusive with an agent in Marsa Alam.

 

[DC]

Marsa Alam 1 more pic

Apologies did not get them all on first time.

 

[cin7166]

Goldberg

Any more info on this development?

Cheers

 

[DC]

Sure what would you like

It will have to worked on tomorrow, is late here and 15 hours today is getting near my limit!

We talk tomorrow. thanks.

 

[DC]

If you can get me the exact questions you want answered I will send them over to our guy. Will probably be next week as Friday is not a work day. thank you.

 

[samui13]

AcquireAbroad.com - Marsa Alam Beach Resort

Hi there

I am totally new to all this. I am looking at Marsa Alam Beach resort (currently EUR39950) for a 2 bedroomed middle floor apartment.

Has anyone used the agents acquireabroad dot com and are they trustworthy.

The resort appears to be good value and just what we are looking at for a second home in the sun. However my concerns are that the launch date is end of Feb so we need to pay EUR1500 immediately in order to get first dibs on the choice of apartment and secure the lower price.

One concern after contacts are exchanged the full balance of the monies have to be paid into escrow account - this appears a bit hefty being as it takes 18 months to complete the building - is this correct that it is sometimes the case (the escrow account is in the Netherlands).

Are there any pitfuls I need to look out for.

Does anyone know what would happen if the development didnt sell all apartments and then went bankrupt?

Sorry for all the questions if you could help urgently that would good as I am running very low on time.

I am calling the agent late this afternoon to discuss.

Thanks in advance.

Lou

 

[ted_007]

Hi there

I am totally new to all this. I am looking at Marsa Alam Beach resort (currently EUR39950) for a 2 bedroomed middle floor apartment.

Has anyone used the agents acquireabroad dot com and are they trustworthy.

The resort appears to be good value and just what we are looking at for a second home in the sun. However my concerns are that the launch date is end of Feb so we need to pay EUR1500 immediately in order to get first dibs on the choice of apartment and secure the lower price.

One concern after contacts are exchanged the full balance of the monies have to be paid into escrow account - this appears a bit hefty being as it takes 18 months to complete the building - is this correct that it is sometimes the case (the escrow account is in the Netherlands).

Are there any pitfuls I need to look out for.

Does anyone know what would happen if the development didnt sell all apartments and then went bankrupt?

Sorry for all the questions if you could help urgently that would good as I am running very low on time.

I am calling the agent late this afternoon to discuss.

Thanks in advance.

Lou

Hi, Samui,

Escrow is to protect ur money.
Developer get them in stages, so its safe.
Also, as property value goes up with the time, so you rmoney are appreciating in Escrow as well.
I look at it this way.

Ted

 

[eddie 55]

Anyone else considering putting their money down?

I would be really interested in buying off plan 1 bed apartment...3 years ago
I invested in 1 bed apartment in El Gouna (off plan price £24.000) now it's
worth top end of £60.000...so I can see a really good investment here...but not a short term...long term with very good returns....
Being in the front of a new development....means that all the other buildings
work is done at the back of the resort....if this makes sense.

eddie55

 

[samui13]

Marsa Alam Beach Resort

Right ive put put my money down now and will keep everyone posted on how it all goes - I am looking forward to seeing the plans at the end of Feb (if thats the true date of course!!!).

Gone for a middle Aparatment .

Lou

 

[cin7166]

Lou,

I've put my money down too, also on a middle apartment, 2 bed.

 

[samui13]

Great Stuff - Athough I only paid today and it takes a couple of days for the money to get through - so please leave me a good one!!! ha ha ha

 

[cin7166]

There were 55 units reserved last Tuesday when I reserved mine, so I think we will have a good choice.

 

[awahee123]

Marsa cetainly sounds as though it could be a contender for a top holiday resort for the future.
I'm sure there will be a lot more developments coming out of Marsa in the next few months.

 

[propertyborders]

Marsa cetainly sounds as though it could be a contender for a top holiday resort for the future.
I'm sure there will be a lot more developments coming out of Marsa in the next few months.

I agree but the price per square needs to be more attractive to get the mass investors.

What do you think of the prices in Marsa vs Hurghada??