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Nubia-Resort in the north of Hurghada

Discussion in 'Egypt property' started by zorba, Jan 24, 2008.

  1. zorba

    zorba New Member

    Hello,

    This beach resort is on the way to El Gouna on 65000 sqm plot of land developed by Brothers Co. for Touristic Investment S.A.E. found 1997 (also the developer of the Le Pacha Resort in Hurghada). For more info check their website - it's the same name as resort name.

    Does enyone the developer and checked this investment?
    Prices seem to be quite attractive for a 4* resort (for example 3rd floor beach view 65 sqm costs around £38k)

    I'm not sure if Sahl or El Gouna would be a better investment (but 40% more expensive!)
     
  2. propertastic

    propertastic New Member

    I have some info on it.

    It's not bad, but there are other developments in the same area that currently seem to offer better value for money.

    I don't think I'm allowed to say which though and to tell you why.
     
    Last edited by a moderator: Mar 17, 2008
  3. Traveller66

    Traveller66 New Member

    Hello,
    I bought there, and for my opinion, it is a good investment. I checked also the other resorts nearby, but my friend and me we decidet, this is the best. We heard that the owner is a political, that means the investment must be safe.
    But we need some furniture, can anybody provide us with information?
     
  4. Hi following info I have I hope its almost correct
    THE PROJECT COMPONENTS Touristic resort including hotel, villas, Apartment units. Hotel Four- star Tourist Hotel Villas 56 Duplex villas in a five storey building Studios units two buildings including 232 Studios THE DEVELOPER The Brothers Company has been incorporated pursuant to law No.8/1997 as a joint - stock company, with capital amounting to L.E 50 million (50 million pounds). In regards to planning permission this was Villa Type (C) Front granted on the 22/02/2007 with the decision 198/2007 issued by the general authority for investments and free zones. This company has several four star hotels under management in Egypt that all run above 90% average occupancy rates. Restaurants • The main restaurant of 1100 m2 with a capacity for 600 guests. Theme restaurants (Italian, Chinese and sea food restaurants) • Lobby bar (English bar) and Discotheque. • Conference & Parties Hall 400m2 with a capacity for 350 persons on the first floor. Service • Area for the unit and private W.Cs. • Cinema 2 cinema halls of 138m2 each with a capacity for 120 viewers • Shopping Center has shops for all goods and services. • Laundry and dry-cleaning • Clinics • Generators (Emergency generators) Health & Safety Fully - equipped Fire extinguishing network. Services Areas & Public Places The Beach • Extends for about 15,000 meters. Umbrellas & chez-longues. • Beach restaurant with capacity for 800 persons. Water closets for • Men & Women. • Resort Marina • Boats & Launches, Diving Center, Aqua center and Windsurfing. Service Areas • Swimming Pools, Vast gardens, 2 Tennis courts and Kids playgrounds. • Health club • Approximately 800 m2, including Sauna, steam bath and Jacuzzi • centre and Gym centre • Open-air theatre • Kids Club • Playgrounds for kids. • Garages • Parking areas • Shopping area • Shops for all goods and services Hand over specification Private entrance for each villa (ground &first floor) Entrance for each building with stairs to the second floor of the villa(second &third floor) Stairs of sornaga tiles Corridors & thresholds of marble chips tiles Façade windows are made of aluminum (mini – valve) Pergolas in the front area made of Swedish wood & finished with ester paints External unit door made of Swedish wood & finished with ester paints Iron handrail (ferforge) Lighting works for buildings, entrances, corridors & balconies Landscape surrounding the building, i.e., gardens, Live Shot from the project Pavements & lighting are to be at the same level of the hotel (four star)
     
  5. Lsab

    Lsab New Member

    Some people know this under the name of the developer i.e. Key Universal. Have they started building there yet?
     
  6. Lsab

    Lsab New Member

    From what I've read it seems that there is a buyback option and a rental guarantee option on a limited number of properties - looks like they're on an appart-hotel basis.

    payment schedule 25% down payment the balance over 18 months for 2 bed appartments - 35% downpayment the balance over 18 months for studios
     
  7. They Start Building Yes, and yes that is correct a part of the project will be a hotel
     
  8. i have had good contact regarding this

    purely investment this one
     
  9. You always have a god contact wayne ;)
     
  10. propertastic

    propertastic New Member

    Nubia Resort looks to be one of the few beachfront resorts where Brits will be in the minority. It's being heavily marketed towards Russians - unusual for an offplan project.
     
  11. alx

    alx New Member

    Hi guys,

    That is true. Just purchased there. It is broadly offered by russian agencies. It is not bad for investment purposes - Le Pasha has relations with russian operators and occupancy is OK and will rise. Russian market is not bad.
    But if you like to relax in quiet environment - it is probably not the best choice. Russians will be in majority there.
     
  12. :) if you are a single man so russian market in not bad at all lol :D
     
  13. Traveller66

    Traveller66 New Member

    Hi,
    As I wrote I bought one of the apartments. Before I bought I checked who is with me. In this resort there are lots of British, German and Suisse, only a few Russian. The majority in this time were Suisse. I bought in february. I will have a look after 2 weeks whats going on there an I will keep you informed.
     
  14. I think you never been to the location the only agent who have its sign on the project location is a russian agent so what this approve to you?
     
  15. alx

    alx New Member

    May be. I've seen villas are sold and few apartments. There are 200 more of it and it is difficult to say now.
     
  16. LDN123

    LDN123 New Member

    Hi guys first time on here

    I beg to differ with that quote...i have just purchased the large 1 bedroom apartment here with sea view, from Uk agency Key Universal....they claim they are the only company allowed to sell this in UK, whcih may be right as I have not seen it else where. I was completely convinced on this as an investment.
     
  17. hello this picture of today that approve main Agent from Russian country
     

    Attached Files:

  18. Lates Location Pictures

    this is latest pictures update
     

    Attached Files:

  19. alx

    alx New Member

    Tnx for nice pictures. Did you have information what buildings are on the right and left side of Nubia? Are these resorts as well?
     
  20. the one on the right side is a resort yes :)
     
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