Zina Heights, Hurghada

[Flyerman]

Hello,

I have pleasure in announcing the pre launch of Zina Heights in Hurghada. Construction has started.

What makes this development worth considering:

Rental Guarantee

Investing in Hurghada usually means no rental guarantees. However with Zina Heights there is a three year rental guarantee scheme in place of 6%, 7% and 8% each year.


Rental

Linked to the above of course, but I like the fact that Zina Heights with 330 apartments has an integral boutique hotel and is being built by the builder and owner of the Marlin. The confidence on ability to rent is backed by the guarantee

Zina Heights is positioning itself as one of Hurghada’s most prestigious tourist and business hotels.

Facilities

The master suites are located within a Deluxe Hotel resort and these residential apartments have the benefit of a range of generous and exclusive hotel services and guest amenities located on the ground floor, to include a range of fine dining restaurants, spa, boutiques, bars and concierge services.


Prices

Pre launch prices for Zina Heights start at €39,900 for a pool view up to €50,000 for seaview apartments, there is a wide choice of apartments available for the 330 total.


Location

Central Hurghada (new).


Sizes

Typical studio apartment:

Gross Size including common areas and terrace: 48.13 m2 Net area 42.97 m2 (inc terrace. Terrace 9.65m2

Please go to www.overseaspropertytalk.com for full review and to register for due diligence report, or contact me for more details and questions.

Pictures will be posted shortly.

Regards,

Lance

[Flyerman]

Please see Zina Heights, Hurghada image below:



Please email me at lance@overseaspropertytalk.com for more information or to register interest. Please note this development has started and come with a 3 year rental guarantee.

There are still some details we are getting clarification on, but already the response to this development has been terrific. More info at Overseas Property Blog.

Regards

Lance

[HORIZON]

Hi Lance,

What do you mean by located in Central Hurghada (new)? So is it Seqala, the new Promenade or smth else? It needs a nice plot to be build on which is nowhere in Sheraton..

[Flyerman]

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

[HORIZON]

Looks good.

As I presume it is just near West Side Village...

[Flyerman]

yes that's right, very near West Side Village.

Regards
Lance