Quote:
Originally Posted by Peter Mitry
Alison's comments are spot on. I work with Resort Alliance, the promoters of Sahl Hasheesh. Here the Developers have a master plan showing proof of ownership of the entire 32 million m2; each plot has been mapped and given a number and each Developer purchasing land has to submit a project for approval, first to the Egyptian Resort Company who own the land and subsequently to the local authority for planning approval.
Once this is granted there is a system of inspection and a final check that everything has been built according to plan. At this point the Developer will go with the purchaser to the Notary in Hurghada and register the purchase. The cost of this is around 350 GBP.
This is a workaround as Egypt does not have a formal land registry system at the moment.
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Peter
In this note you have stated that the land is owned by the Egyptian Resort Company, does this mean that anyone purchasing in Sahl Hasheesh is buying leashold since you do not explain how the title to the land is passed on to the purchaser. I was assuming that each development site would be bought by the developer, then each apartment owner would buy what in effect is a "shared Freehold", from the developer.