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Sealand Hurghada

Discussion in 'Egypt property' started by queenie40something, Mar 23, 2008.

  1. queenie40something

    queenie40something Senior Member

    Hi all

    I have received some information on Sealand in Hurghada.

    It is located 5km south of Hurghada, about 15 mins from the airport and about 1km from the sea with panoramic views.

    There are plenty of luxurious amenities including tennis courts, billiards, fully equipped spa and health centre with jacuzzi gym and sauna, 42 m diameter communal pool, landscaped gardens, volley ball and playground area, kids club, rooftop showers and bbq, entertainment lounge, laundry, housekeeping, medical clinic, restaurant, cafe and supermarket.

    Standard features include 24 hr security, double glazing, wireless internet and sat tv.

    There are 161 studios 1 and 2 bedroom apartments all with pool views.

    Prices start for 80m2 studio £36,000.

    Annual maintenance is £600 and payment is 50% on signing and 50% on handover Aug 08 with 5% discount for cash buyers.

    Looks quite impressive. The buildings are built in a semi circle around the pool.
     
  2. this project was over priced and been selling it since 2 years but now seems they learnet the lesson and to be able to sell they have to be same market price and there is nothing special about it, in the evening i will submit some pics for it
     
  3. queenie40something

    queenie40something Senior Member

    Here is a pic
     

    Attached Files:

  4. propertastic

    propertastic New Member

    realestatemart is correct. I reviewed it in the ebook version of Propertastic's Complete Guide to Hurghada Property and Red Sea Riviera Real Estate but, just as the print book was going to press, the developers announced that it was all sold out.

    Wrong!

    I heard that they had sold all of the remaining units to an Italian company, who later backed out of the deal, which is why it's on the market again.

    Now that I know exactly where it is and have seen it for myself, I have to say that I am even more underwhelmed by this development than I was when I was just looking at the numbers.

    The development is screened off from the road by a row of tatty little shops selling all the normal tourist claptrap.

    GBP450/m2 is the upper end of the prices in the New Touristic Centre at the moment. I just can't see how Magawish can expect to compete with this area at the moment. Sea Land is surrounded by all-inclusive hotels where the guests rarely leave the resort and so there are few services for people. The only reason at the moment for anyone to head south of the Intercontinental district is for Havana Club, which is not bad (but not so good either that it's worth the trek all the way from the centre).

    With the new Senzo Mall on its way and the New Touristic Centre/Intercontinental district running out of space for new developments, I can see that Magawish will become a new hotspot. But not for a year or two.

    Today I wouldn't pay more than GBP300-350/m2 for something in Magawish - there is plenty of non-beachfront land available to build on in the area and so it should not be fetching premium prices for a while.
     
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