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Sharks bay oasis in Sharm el shiekh

Discussion in 'Egypt property' started by simonjwatts1, Feb 6, 2008.

  1. simonjwatts1

    simonjwatts1 New Member

    Hi i have purchased another apartment here has anyone else??
    Please get in touch to share info.
  2. awahee123

    awahee123 Banned

    Hi Simon,

    Can you tell us a bit more about this development,location and any other details you may have.Thanks.
  3. simonjwatts1

    simonjwatts1 New Member

    Yes it is a place called sharks bay oasis residential project in sharm el shiekh next to the royal rojana hotel.The only people i can find with reasonable info are Cowell Banker
  4. simonjwatts1

    simonjwatts1 New Member

    i have loads of pics etc but cannot get them on here for some reason so if you want pics etc pm email address
  5. queenie40something

    queenie40something Senior Member

    Hi Simon

    We have bought just down the road in Nabq. Is yours completed yet, have you get residency and POA etc yet?
  6. simonjwatts1

    simonjwatts1 New Member

    Hi Queenie, We have already purchased outright and is due for completion May but they are a little in front?? Was out in June and things were looking good.I am not sure what you mean by residency and poa?
  7. queenie40something

    queenie40something Senior Member

    Hi Simon to be able to purchase a property in Sharm as a foreigner you need to register the property in the notary office. Foreigners do not have the right to be landlords in Sharm.
    The only option is a legal suit called a signature validity. In a nutshell.

    You need to get a very good lawyer who needs to obtain a real estate certificate and a tax certificate
    Articulate a bi lingual ( English and Arabic ) sale / usufruct contract.
    Authenticating Sale / Usufruct Contract - this is where you need to issue POA -Power of Attorney to your lawyer. This is when you need to go to the passport office in El Tor and get a 6 month multi entry visa along with a 12 months residents visa. You then go to a government notary office up the road and produce these visas and your passport to obtain Power Of Attorney which is issued there and then ( it is in Arabic ) and the cost is 40le. You then give this to your lawyer.
    After obtaining the power of attorney from the notary office, the lawyer is responsible for establishing the signature validity legal suit. This legal suit takes between 6-8 months before obtaining the final verdict from the court.

    Hope this helps.

  8. simonjwatts1

    simonjwatts1 New Member

    re poa etc

    No it is not sorted as of yet as property not handed over yet and have been busy as i have just started poa on my desert pearl apartment.But am on the ball now ty.
  9. queenie40something

    queenie40something Senior Member

    Hi Simon - your welcome - meant to have said that El Tor is about an hours drive from Sharm - very nice drive as well through the mountains and along the coastline.
  10. abomadi

    abomadi New Member

    hi, can i know where to find more Details about Sharks bay oasis development ?
  11. simonjwatts1

    simonjwatts1 New Member

    hi here is one link to a company selling the sharks bay oasis project.
    Mortgage Info

    Cowell banker in sharm el shiekh are also selling these properties

    let me know if any more info wanted
  12. simonjwatts1

    simonjwatts1 New Member

  13. queenie40something

    queenie40something Senior Member

    OMG nearly 80k for a studio - that is very very expensive - my 1 bedroom was only 21,700.
  14. kimkonnoris

    kimkonnoris New Member

  15. WESTMIDS33

    WESTMIDS33 Banned


    Hi Queenie,

    Are there many beach front apartments for sale in Sharm especially around Naama Bay or are they as scarce as Hurghada?


  16. queenie40something

    queenie40something Senior Member

    Hi they tend to keep the beach line for the hotels. Ours is 2nd line which is good enough for us - only 5 min walk so even I can manage that LOL
  17. abomadi

    abomadi New Member

    I think after looking intensively into Sharm, this price is high for studio apartment, as queenie said 2nd line will satisfy as there is many projects offers private beaches for purchasers, and i remember i checked an project that offers beach front studios for less than this.
  18. queenie40something

    queenie40something Senior Member

    There is a really nice beachside development in Nabq in Sharm called Laguna Vista.
  19. simonjwatts1

    simonjwatts1 New Member

    re expensive?

    :eek:My apartment is 2 beddroom with 100 sq mtr private sun terrace yes second row but large and direct view over tiran island?? where did the info for a studio come from??

    Attached Files:

  20. Jeremy Sturgess

    Jeremy Sturgess New Member

    Sharks Bay agent/prices

    I just saw ERA Coast Line Real estate (Neven El Hosny +20100336664) are offering this development scheme in their march 2008 magazine. prices stated are Euros 1,875/2,727 usd/15,000 egyptian pounds per sq metre. appts from 64-103 sq mtrs. it seemed expensive to me. are they actually selling any? How much did anyone pay for these units per sq mtr if anyone doesent mind sharing. I thought prices were much lower than this generally in egypt and would be grateful for any info on what people are really paying for property in Sharm/Hurghada in the best schemes - as opposed to developers asking prices. I saw Soma Bay residences offerred at over $3,000 psm - are these prices realistic ?
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