Quote:
Originally Posted by Peter Mitry
Welcome to the forum Lila! El Gouna is a very nice place to live but from an investment standpoint large gains have already been made and future growth, whilst certainly likely, will probably be more modest.
Sahl on the other hand is at the beginning of a 15 year development programme, all governed by a Master Plan which will ensure consistent standards, no matter who actually constructs each project. All applications for building permissions have to go first to the ERC who are the owners of the land. Once approved by them they go forward to the local red sea governate for final approval.
There are so many elements within the Sahl project which will continue to add value for many years to come as each section of the jig saw falls into place. I have bought five properties in Sahl and have already sold one and doubled my money in 18 months.
Gamsha will be an enormous project too but the density of building is much greater than Sahl and its location is way too far out from Hurghada on the less attractive North Coast.
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Thank you for the kind welcome Peter! I was wondering if you know how prices compare between the two. Obviously you got in early at El Gouna. Do you know what properties are selling at now? I think that there are reasons to buy for investment and also for lifestyle and I'd be interested to see how the prices compare and whether it is substantial or not. I will be in touch again as I would love to know which Sahl projects you have brought in. Does El Gouna not still have a number of years development left in it. I saw on the forum that they are extending with some new projects coming on line.
You have definitely helped me re Gamsha, I am not hugely familiar with the area and so I will trust that as you know it so well it is probably not worth the investment.