[Peter Mitry]

I have just returned from Sahl Hasheesh and there are clients living in their units in Palm Beach Piazza full time; also at least 40 owners have now signed for their units which are now ready to occupy. The Developers Orbit are providing basic facilities and it will be a few more months before the restaurant and other facilities open. The pool is in full use and the Italian couple who are living there are extremely happy. This is a new and developing resort; surely it would be naive to think that everything would be open on Day 1? I tell all of my clients not to expect much in the first year but it will be a different story when a few more hotels are open providing the necessary clientèle for the shops & restaurants in old town to start trading. Its chicken & egg and it was always going to be that way - the same as any other new resort on this scale. Its a five year hold in my view and I will be amazed if prices have not tripled by then..