Quote:
Originally Posted by ThomasCurtains
I have been visiting the Red Sea for about 2 yrs now and have finally decided to put my money where my mouth is and invest in something. This forum has helped immensely. Having visited most of the developments around Hurghada I have identified 3 locations that might suit me - Soma Bay, Sahl and Gouna. Each offers something different I have to say and even though I know I'll pay more of a premium to buy I don't mind. I know its like flicking a coin but if anyone can advise a bit more about the whys and wherefores of each it would help to make a final decision. Thanks
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Hi Thomas
I suppose the question to ask is are you buying purely for investment or for your own use ?
If purely for investment, Sahl may be the best bet as the property is cheaper and the scale of the finished development will be larger .The payoff here is that Sahl will be a big building site for a considerable time and at the moment there is very little in the way of completed development . I would also be a little concerned that the individual plots in Sahl are being developed independently and could end up a hotchpotch of styles that dont look so good together and they are more higrise than El Gouna.There is also some risk that some plots may be left unfinished if a developer has financial difficulties.
I dont know a lot about Soma but it seems quite a small development .
El Gouna may not be the best in terms of investment growth but it certainly is the most established ,with a growing tourist image ,a large number of return visitors and the widest range of activities in the Red Sea area .There are still building sites but these are mostly on the periphery . As the whole resort is developed by one company it is carefully planned to give a cohesive look with restrictions on external appearance ,building heights and overall spacing of developments . Orascom also have a proven track record so there is virtually no risk of the development not being completed .
Someone else also mentioned that El Gouna is also very popular with the local wealthy population so there is a market for resale outside of rich Europeans.
El Gouna wins for me ,though I would also buy in Sahl ,I just cant afford it now
