Serrenia, Sahl Hasheesh

[NeilHollingsworth]

I spoke to Mohamed El Hakeem (Special Delegate, Office of the CEO) at the ERC office when I was out last and Serrenia has been scrapped.

Like Peter says Orascom has now become a shareholder of ERC and will be constructing the Marina, they have good experience with the Abu Tig Marina in El Gouna. They are I believe also going to be constructing the buildings around the Marina area which was initially Serrenia.

With the change at the head of ERC things now seem to be moving along and with partners like IMG on board I am sure they will be under pressure to start completing facilities. The owner of the 2 golf course is being pushed by ERC to complete at least on of them for next year and with grass going on the Wadi Course I am guessing it will be this one.

 

[Alaa fayad]

I spoke to Mohamed El Hakeem (Special Delegate, Office of the CEO) at the ERC office when I was out last and Serrenia has been scrapped.

Like Peter says Orascom has now become a shareholder of ERC and will be constructing the Marina, they have good experience with the Abu Tig Marina in El Gouna. They are I believe also going to be constructing the buildings around the Marina area which was initially Serrenia.

With the change at the head of ERC things now seem to be moving along and with partners like IMG on board I am sure they will be under pressure to start completing facilities. The owner of the 2 golf course is being pushed by ERC to complete at least on of them for next year and with grass going on the Wadi Course I am guessing it will be this one.

Yes, you are right.
They already signed the contract a month ago.
Orascom will develop the Marina and surrounding area which covers approximately 2.5 million square meters including the Marina.
ERC will remain the owner of the property, while ODM will market, sell, and manage the development of the Marina and surrounding real estate.
Orascom “ODH is one of the world’s most experienced marina developers and has developed sea‐side destinations in Egypt, the United Arab Emirates, Oman and Morocco as well as inland resort properties in Egypt and Switzerland.

 

[zenon4]

Well this should resolve it all.

www .secure.creditgate. com then search for: VANTAGE REAL ESTATE DEVELOPMENT LIMITED and see their status

I remember when the tel number for their London office was on the website (which bizarrely is still live). Even more bizarrely, the news on Serrenia dating from Jan 07 is on the SBIG homepage!
Now the only place you can call (if you invested money in this pipe dream) is their Egypt office on 202 762-6115 (if the number works) or their HQ in Jordan +962 6 560 8777. Don't expect answers though.

Meanwhile at ERC, there have been numerous changes in mgt over the past yr, in fact the last mkt mgr recently left less than a yr into being in the job. I know because I sell advertising for a property magazine and spoke to 3 diff mkt mgrs and 2 CEOs while there.
Enough to say that too much is shrouded in mystery and we're not being told the whole story.

Good luck

 

[Alaa fayad]

We got information from our sources that Orascom and ERC have agreed about the project's headlines and Orascom is working now on the project plans in an extraordinary way .

It is planed to launch the project in the beginning of 2011 .

We have already many requires from different nationalities especially from yachts' owners.

 

[BULLS2008]

Serrenia - Development - Press & Events

remember this:congrats:?

 

[CMChris]

I shudder everytime I see those horrific buildings that were planned. Anyone seen any plans for what might happen?

 

[NeilHollingsworth]

I shudder everytime I see those horrific buildings that were planned. Anyone seen any plans for what might happen?

Hi Chris, we were told they would not be like Serrenia and nothing would be built on the islands as it was not legal so how they got away with marketing I have no idea. Orascom will now be building the Marina and the properties in the Serrenia area, I am not to keen on the multi-coloured villas in El Gouna so I hope they do something different. The White Villas will be nice.

 

[CMChris]

From what I've been told no one is allowed to build or inhabit any island in the Egyptian Red Sea, all to do with national security and environmental protection. TBH the area for the marina is so far from the central hub of SH that it will hardly impact on our views. Makadi Bay is more likely to feel the benefit of people using the marina. Unless they get some form of transport up and running soon not many people will make it there.

 

[Alan Cockayne]

From what I've been told no one is allowed to build or inhabit any island in the Egyptian Red Sea, all to do with national security and environmental protection. TBH the area for the marina is so far from the central hub of SH that it will hardly impact on our views. Makadi Bay is more likely to feel the benefit of people using the marina. Unless they get some form of transport up and running soon not many people will make it there.

Do you mean only the "Yachties" will benifit Chris? I believe the transport services to and from your compounds will be up and running long before Orascom build what once was the project Serrenia. Or I would be asking for my money back from the Makadi Bay project.

You are correct about the islands, however there are drink stations on some, like on Giftun. You never know what Egypt plans for the future. I suppose if there's money in it I'm sure Egyptian businessmen will rush :vroam: in with their pharmacies and perfume shops.

 

[CMChris]

There was a rumour 2 years ago I think that the Italians were going to build on Giftun. I've only dived round it so never actually set foot on it but seen it besieged by day trippers and snorkel boats.

 

[BULLS2008]

dont you think this is an island?

http://www.satimagingcorp.com/galleryimages/quickbird-el-gouna-sheraton-hotel.jpg