Protests today in Egypt

[Alan Cockayne]

The February Egyptian Sunami

That's what people power is capable of if done correctly.

Make no mistake, this is only the beginning of the end of the Mubarak regime.
I stated back in January he would retreat to Sharm el Sheikh. My concern is that 30 years of lying will continue, as he tries to pull the NDP strings from Sinai.

The real power will come from a determined Army who will assist with early elections which could be as early as 60 days time. We can't wait till the end of September.

What we in the real estate industry will require from a newly elected government is a wholesale review of the legistics of property ownership. There are too many loopholes created by the regime for them to manipulate, to expect international professionals to carry on working with.

The Egyptian property market needs changes. Like keeping Mubarak in power, leaving things as they are is no longer an option.


Alan.

 

[Sergio]

What now for a property market in Egypt is it good idea to invest now in Hurghada??????

 

[Alan Cockayne]

Look everyone.

Many crooked developers and their landowning partners will be fleeing the country by now. Those that are still in Egypt will either be scared of the inquisition and ready to run with their loot, or they will be making progress on their projects.

Either way, investors should be even more professionally aware in seaching for genuine projects. Any new government will be clamping down on those which have illicit land or false licenses to build with.

The secret of knowing which is quite simple.

(a) check on other properties they've built to see the quality.

(b) ask for proof of "Bank Guarantees" which enables the project to be built with their own funds and not yours.

(c) seek good legal advice before buying which covers good, solid after-sales services for your own long term protection.


Alan.
Coralife-Style Consultants.