Money no object? Then I would try and buy the land that the Sheraton/Le Meridien is built on and redevelop it as luxury apartments.
The Sheraton was the first resort built in the 1960's, which is why the Courniche Road is also known as the Sheraton Road. As the developers of the hotel had the whole coastline to choose from, they naturally chose the best plot. It was later taken over by Le Meridien.
The building is closed as it's the best part of 40 years old now. I guess that they are going to refurbish it.
This is the best area in Hurghada. The View, which I liked very much, is the only beachfront development going on in this part of town and it must be a terribly expensive project to build as the land rises so rapidly from the sea that they have to create terraces.
Best of the available plots though is one right next to the Intercontinental, which is being developed by a company that you know very well, Peter. They say that they should start selling it in Q1 2008. It certainly won't be cheap, but it looks like the best piece of land in Hurghada available to developers at this current moment.
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