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Pyramisa beach resort, Sahl Hashish

Discussion in 'Egypt property' started by chandra, Oct 25, 2007.

  1. chandra

    chandra New Member

    Hello everybody!
    Just wondering; anybody buying or bought a property in Pyramisa beach resort? Let me know. I have purchased property myself and I got a fantastic business idea to manage personal holiday allowance rental.

  2. Investing Wisely

    Investing Wisely New Member

    Pyramisa Hotel Investment

    Hello Chandra,

    i am looking to invest in the pyramisa beach resort, when did you buy at this place? could you please provide some information on the resort and which agent you went through?

    Its sounds really interesting and i am also planning to go and visit the place before making a decision.

    Having done some research on this resort there seems to be alot of mixed views/thoughts from people who have actually been to the hotel.

    Have you (or anyone else at this forum) been to this hotel? i would like to hear people's views.

    I am after a long-term hassle free investment with a guaranteed rental return.

    I also came across the Zafarana resort, but it did not appeal to me, due to there not being an airport near by and also i have been told that the place is not worth much at the moment and therefore the guarantee they offer is incorporated within the price you pay for apartment.
  3. chandra

    chandra New Member

    Pyramisa Beach resort

    Dear mate, even I was looking for a hassle-free investment. And in a country like Egypt it is a great task. I bought a studio apt for 36,000£ from IPIN ( propertyshowrooms) 3 weeks back. When it went out for sale it was for 47000£ initially. they reduced price of only 9 studios to attract customers. I have appointed a solicitor from MaxGold company. He charged me 1700£ but this firm is supposed to be really good.I did not want any headache so I went for best possible solicitor. He is the same person who prepared a due diligence report on this property. I have instructed him to get the lifelong rental guarantee to be included in the contract. I will have everything promised promised by builder included in the contract. I run a holiday rental company. I am going to rent out my 4 weeks holidays through my website:- nilecruisesandresorts (the website is under construction).
    Pyramisa company is a Cairo stock market listed company who owns 6 resorts and 4 cruises, all 5 *.
    Looking into all these factors I went for the Sahl Hashish Pyramisa.
    Any questions? Get back to me. My mobile no is <snip>
    All the best.
  4. Investing Wisely

    Investing Wisely New Member

    Hello Chandra

    I have also been contacted by IPIN, who i believe are acting as the agent for Pyramisa. They are offering me a studio apartment for £40k, however with a 10% reduction in price if i was to pay all-up front without any finance plan (mortgage), i.e, the studio would cost me 36k.

    They have also told me about MaxGold solicitors, but i was looking to get an egyptian solictor to check the contract through. A friend has advised me off a solictor that he once used in egypt and highly recommends this person.

    Did you get the chance to visit the place, have you been to egypt?
    As i said, i am looking to book flights early in the year and go down to see for myself.

    I like the sound of this holiday rental company that you are looking to run. To be honest i don't intend to go there that often myself and would consider letting my place out to people to generate some further income hopefully, i will definately check the website out.

    Thanks for getting back, glad to know we have similar interests.

    Take Care.
  5. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    Will your new holiday rentals company consider apartments from other Sahl Hasheesh owners? How do you plan to market the apartments?
  6. chandra

    chandra New Member

    Hello again,
    Yes I did go for that offer and I got it for 36K £.
    Hopefully my website will be up and running in 2 weeks time. I am going to contact other purchasers as well and form a club of owners. That will give us more solidarity. Anybody can sell their holiday alllowance through my website and a company thet goes with the same name.
    I haven't been to egypt but I am planning to visit it next year. Have look at some reviews from people who stayed at that resort on tripadvisor website.
    I think IPIN is a very good company and that's the reason I have invested in their spanish project as well.
    Regarding solicitors my experience is limited but definitely have a look at the MaxGold website.
    Don't forget to get few things included in your private purchase contract and leaseback contract.
    all the best.

  7. DC

    DC Member

    Peter, Pyramisa is the hotel operator and also the renter. It has a holiday company as well as development company, it does cruises and holidays. They are quite clever operators. They see both sides. Building and Selling the rooms, I think RCI are going to rent the rooms. Worth for RA to talk to RCI.
  8. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    I have been in touch with Pyramisa as I had enquiries for their product but they are tied into Property Showrooms until the end of November. RA are already in discussions with a number of International hotel operators to manage all of their projects in SH. One of them at least is also linked to RCI so this could open up a lot of opportunities in the future.
  9. DC

    DC Member

    Peter I know of companies that have signed agreements with Pyramisa so that information is not correct. There is alot of mis information around.
  10. chandra

    chandra New Member

    Hi darren!
    chandra again.
    What is RA?
  11. chandra

    chandra New Member

    Pyramisa beach resort.

    Dear Peter, I have already established and registered a company for holiday rental here in UK. My new website is under constriction and it will be finished in 2 weeks time. I can definitely advertise apartments from other sahl Hashish owners. I am going to contact Pyramisa Resorts and Cruises company once website is finished.
    Plans for advertising the website are already in place.
    Get in touch with me if you have any ideas.

  12. DC

    DC Member

    RA is resort alliance. Chandra.
  13. chandra

    chandra New Member

    Thanks Darren!

  14. scubadoo

    scubadoo New Member

    Hi Chandra

    I am purchasing an apartment on the Red Sea Pearl development and the Pyramisa Group are the developers when complete we will have use of the Pyramisa Hotel.
    Have you visited the Pyramisa yet and if so what are your thoughts, as there are currently many adverse comments about the hotel on Tripadvisor.

    It would be good to know your thoughts.
  15. Investing Wisely

    Investing Wisely New Member

    Pyramisa Hotel - Sahl Hasheesh

    Hello there,

    just to let you know that i am also interested in investing at the Pyramisa Hotel and have come across alot of negative comments and reviews from people who have visited this resort.
    However i intend to go and visit the place after christmas and early in the new year for myself and to see what it's like before making a decision. I will update you upon my return.

    But you are right the reviews of people on Trip Advisor are not very promising.
  16. WESTMIDS33

    WESTMIDS33 Banned


    Hi Chandra,
    Ive been to the Sahl Hasheesh Pyramisa Hotel and it is a fantastic hotel. The hotel had only opened a short time when I went in November but it was full to the brim. It will take the other proposed hotels approx 18 months to 2 years to build and catch up. I was shown around by the Pyramisa project Manager who impressed me. The only down side is that there was a lot of Russians staying there but im told thats there holiday season.

    I have decided to invest in a Pyramisa Project called Paradise Gardens set just back off the beach front on plot 18. Im told the prices will be approx £50,000 for a 2 bed apartment backing onto the Golf Course.

    Private message me if you want any more info.

    Ps I would also like to chat to you and pick your brains about the legal side of the purchases.


  17. Shkrjaga

    Shkrjaga New Member

    Hello Naj. I'm interesting in Pyramisa Sahl and reviewing contract now. I'm not happy with their lease back agreement. Can we talk?
    Regards, Vlad.
  18. Investing Wisely

    Investing Wisely New Member

    Pyramisa Hotel - Sahl Hasheesh

    Hello WESTMIDS33 & Shkrjaga

    I just wanted to ask have you both invested in Pyramisa Hotel?

    which agent did you go through and what are the prices like?

    WestMids33 i would be interested in where you have invested, could you please forward any information on the development.

  19. WESTMIDS33

    WESTMIDS33 Banned


    I have been to the pyramisa hotel and found it to be an amazing build especially when the Project Manager told me it had been constructed in 18 months.

    I have invested in Paradise Gardens which will be another Pyramisa build but will be made up of Studios, 1 and 2 bed Aopartments and Townhouses.
    I have been told it will be cheaper then the current projects in Sahl namely approx 935 euros per sq metre. I am picking up a 2 bed apartment for under £50,000. It is set back approx 100 metres from the beach but it will be backing onto an 18 hole Golf Course.

    If you private message me I will give you the contact of the English agents who have exclusive sales and allow members I am told first pickings 48 hours before general release (all you have to do is put £1,000 deposit.

    All the best

  20. Shkrjaga

    Shkrjaga New Member

    Hi. I didn't invest yet. I contacted developer directly by e-mail, and withing the budget I have ($50-100k) I were proposed a studio 47 sq. meters. Side sea and pool view costs $80K, front sea view - $100K. I'll share e-mail if you wish.
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