2 Bedrooms, Apartment
Marsa Alam, Egypt, Marsa Alam, Egypt
Price From £28,000
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Marsa Alam is clearly set to rival the more established resorts of Sharm El Sheikh and Hurghada. The tropical appearance, coral reef fringed blue seas and gorgeous palmed beaches of this tranquil and remote area of Egypt is the main draw of quality tourists. With some of the most exciting diving in the world! This area has become a favorite with sun worshippers and divers from Italy, UK, Germany, France, Netherlands and Russia.
Originally a small fishing village, Marsa Alam’s growth as a tourist area has only really been seen over the past 5 years. Marsa Alam is now one of Egypt’s fastest growing resort areas and taking shape as one of Egypt’s more exclusive tourist areas. Probably the major stimulus for growth of this area has been the conversion of the privately owned domestic airport to international status in 2001. The airport’s expansion has been the green light attracting many developers to the area to capitalise on the expected future healthy tourist market. Tourism growth is clearly taking place at a rapid pace. Passengers through the airport has increased steadily from 145,027 from the first main year of operation in 2002, with estimates expecting up to 500,000 in 2006. The airport has been designed to be easily expandable in the future to cater for up to 4 million passengers each year. Clearly the airport will be able to support the expected huge future expansion of this area. The flood of investment capital into Marsa Alam is funding new hotel, leisure and entertainment developments and is set to transform the area in to a vibrant, world renowned holiday destination. For example Libra Holidays Group recently announced a development including marina, golf course, spa, shopping and water park in the Marsa Alam town beach front area. The recently completed Port Ghalib Marina development is stunning and one of the largest marinas in the Middle East, with restaurants, hotels, night clubs, yacht club and casino. With over 1,000 berths the marina is expected to become a major international gateway for Yachts exploring the
Egyptian coastline and is situated at the coastal side of the very modern Marsa Alam International Airport.
It is clear from a purely investors perspective that the Marsa Alam area looks to be a very exciting investment prospect. With good capital growth expected from the large infrastructure improvements in the town and surrounding areas and continual strong growth of quality tourists, the area is expected to provide good levels of rental returns for property owners. It goes without saying that getting involved in this resort area at the earliest
opportunity with a quality developer is key to seeing the strongest capital appreciation and rental income opportunities.
Whether for its pure investment potential, the gorgeous and reliable weather or the tranquil beach life, I am sure that this area will have property owners and tourists excited about returning to visit the Marsa Alam area time and time again to an ever changing and improving area.
Situated on the Red Sea, the new Marsa Alam Beach Resort lies only 45km south of the Marsa Alam International Airport and 20km north of Marsa Alam city. IPI are developing 1500 one and two bedroom apartments set in a beautiful gated five star resort. The plot is 250,000m2, with a 500M stretch of coast line, and an additional 52,000m2 for the construction of retail outlets, restaurants and staff accommodation.
Marsa Alam Beach Resort facilities will include the following:
• Stunning, high-spec apartments, all with individual outdoor space and a selection with prime beach-front location
• Salt and fresh water swimming pools
• A marina, scuba diving school and water sports diving shop
• Private beach and coral reef
• Restaurants, bars and a nightclub
• 24 hour concierge, reception and room services
• Amphitheatre and botanical gardens
• In-house serviced laundry
• Proposed off-road motor sport centre
• Tour services for water and desert activities
• Shops and supermarkets
• Wellness / fitness centre, tennis courts and mini golf
• Medical and dental surgery
• 24hr in-house security services
• Shuttle service and limo service
• LAN internet connection in all rooms with wireless internet
connection in the hotel
Marsa Alam is located in the south of the Egyptian Riviera on the Red Sea approximately 300km south of Hurghada. The popularity of the region as a diving destination led to the construction of the Marsa Alam International Airport 65km north of the town itself. Construction is currently underway on an extension to this terminal in order to handle the increased tourist inflow into the now easily accessible area. With direct flights from London and many other European destinations now available, the area is seeing an explosion in tourism growth
and development.
There will be 1050 5 star one bedroom apartments. Priced from €29,500 plus additional furniture pack (pre-launch pricing), these beautifully designed apartments will be from 45-50M2 internal living space consisting of one bedroom, one bathroom and open plan living area; there is an additional 8m2 external space.
Garden Apartments priced from €49,950 (pre-launch price). These apartments are comprised of 80m2 internal space, consisting of two bedrooms, one bathroom, a kitchen and an open-plan living area; an average of 16m2 terrace space and 60m2 garden.
Middle Apartments priced from €39,950 (pre-launch price). These apartments on the first floor are of an area of 80m2 internal space, consisting of two bedrooms, one bathroom, a kitchen and an open-plan living area and an average of 16m2 balcony.
Penthouse Apartments priced from €59,950 (pre-launch price). These apartments on the second floor are 100m2 of internal space, consisting of two bedrooms, one bathroom, a kitchen, an open-plan living area, a rooftop second reception room/3rd bedroom, an average of 16m2 balcony and a 60m2 rooftop terrace.
Please note that all apartments will have additional costing for furniture packs.
Breakdown of payments and procedure
As this development is currently at the pre-launch stage investors will have the opportunity to take out an option on an apartment by placing a €1500 fully refundable deposit. This will allow the investor to get the best apartment available once the development is officially released and to also take advantage of the discount pre launch prices.
In order to place an option investors will need to follow this process:
1. Fill out a reservation form including the clients name, contact numbers, address, email address and type of apartment (i.e. one bed, garden, middle or penthouse)
2. Investors will then be required to transfer €1500 to the escrow account, details of which are contained on the reservation document.
3. Investors will need to return the signed reservation form, a copy of their passport and a recent utility bill to the agent.
4. The option will be placed ONLY when the funds are received into the escrow account. The order in which funds are received will determine the order in which investors will choose their apartment. The investor transferring funds quickest, being placed higher on the waiting list , ensuring the better choice of apartment.
5. Investors will be placed in a waiting list based on their apartment preference and the time the funds show in escrow.
6. The project will be officially launched no later than the end of Feb 2008
7. 7 days before the launch, those who have pre-reserved will be sent the full details including site map, location of individual apartments and a full list of facilities.
8. A telephone call will be scheduled for each Investor on the official launch date, in list order. Investors will be called by a representative of the developer and asked which apartment they wish to reserve from the availability.
9. The developer will take all reasonable measures to contact the investor during a 15 minute window. If for any reason the investor is unable to take the call, they will be moved further down the list.
10. Should the investor not wish to proceed then they will be sent a form to fill out where they will provide account details for refund and allow IPI to have written confirmation of cancellation.
11. Should the investor wish to proceed, contracts will be prepared immediately and sent. The client will then have a period of 14 days to complete the purchase and pay the balance into escrow. Should the client not complete by this time then they would be subject to the increased price.
Construction time.
The individual apartments will be complete 18 months after the signing of purchase contracts. The resort is estimated to be complete in June 2010.
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Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
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| Please note this is an approximate location - provided for guidance only |
| Please note this is an approximate location - provided for guidance only |
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