We have been told that a number of major hotel groups are currently negotiating to provide management services at the three front line beach residential projects in Sahl Hasheesh, Palm Beach Piazza, El Andalous & Ocean Breeze. Under the Sahl Hasheesh Masterplan these will be the only three residentials which will have their own private beach access. All others are either hotel private beaches or public beaches.
This will mean a huge boost in visibility for owners as the company chosen will be marketing apartments for rent all over the world. There will also be a 24 hour reception on site and a concierge service to provide all of the facilities which hotel guests would normally expect.
Although the management company will take up to 40% of the revenue this is a small price to pay when you think that hotels in Hurghada are currently experiencing up to 90% occupancy. Even 70% occupancy on a one bed unit producing 50 GBP per night would show an ROI of 15%, even after allowing for the management costs... we have also heard on the grapevine that prices in all three developments are set for a 20% price hike as they are currently cheaper per m2 than other non front line projects and less than a third per m2of the apartments in the proposed new marina development. Great for those of us who have already bought; if you're sitting on the fence nows the time to make a decision...
Sahl Hasheesh - luxurious Villas and Apartments in Eygpt
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