Zina Heights is in the newer part of Hurghada just off the new village promenade commonly known as the golden mile. Please see google earth image showing exact location.
It is south of Sakala and Al Dahar areas and south of downtown Hurghada in the newer part of the city. Many of the top hotels stretch along the coast in this part of Hurghada.
Payment Plan
The payment plan is 40% deposit followed by 6 payments of 10% each time every 4 or 5 months until completion. Completion is scheduled for August 2010.
The money goes to the lawyers holding account and is released to the developer when they are satisfied that enough work has been completed at that stage. At the moment the build is 45% complete and this will be verified in the
due diligence that is being completed by the lawyer.
Building Progress
Building work is ongoing as we speak. I will be posting construction update photos on a regular basis
The due diligence and the contracts ready in a weeks time.
Rental guarantee
The 3 year rental guarante (6%, 7%, 8%) will commence when the building is complete and the hotel is operational – this will be 3 months (approx) after the building finishes.
Guarantee monies will be paid to investors annually in arrears.
Maintenance
The maintenance fee for year 1 is E800 fixed.
Hope this helps.
Regards,
Lance