Red Sea Residencia - Arabia Beach - Hurghada - Construction Update

[jeremy bright]

Tryed Some Of The Links To Pictures But Is Not Working

[jeremy bright]

yes thanks

[dave99]

New photos - 28/1/08

Views As seen from the 2nd floor of the apartments


photo - sea view and the tourist shops as seen from the UNIT (E) balcony on the front of the apartments (RHS)

Views are over Beach front hotels - Arabia Beach & Arabella.
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[propertywatch1]

Pictures taken whilst out and about on 24.01.08

[dave99]

Originally Posted by PROPERTYWATCH1

Pictures taken whilst out and about on 24.01.08

Thanks for taking the time to do the photos.

This makes it very clear that we're going to get a water system in our area sooner than we had thought possible.

It also means that the building directly in front of Red Sea Residencia will be a nice looking government one which will possibly only be one or two floors high which is great since the view from the front of Red Sea Residencia will be much less obstructed than it might otherwise have been.


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[dave99]

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See first post in this thread for more photos.

Next floor due to be started this weekend

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[andyWagner]

hi guys,

renting the residencia to holiday makers is going to be difficult since there is no proper supermarkets anywhere near. there is also no public beach and a mosque right across the street and anyone that has ever lived next door to a mosque knows being woken up at 4.30am by a screaming loudspeaker is not anything you want. for sure if i rent a flat for my holidays i want it to bear near restaurants, a decent supermarket. in genral a place where i can stroll out the door and have a decent holiday. all you can do in the arabia area is to go to one of the hotels (and wonder why you did not book a room there in the first place).

it is nice to see that the development is finally taking shape though because the area around here has been rough for long enough.

i am not convinced that the rental market is going to take off in hurghada, since there is are now thousands of investment rental flats in town. for sure it will be cheaper then a decent hotel but for this to work you need the infrastructure which at the residencia is not available (and only allah knows if it ever will).

the rents to foreigners in this part of town lies by around 100euro for a 100sqm european style flat, fully furnished and clean. so renting anything for 100-150euro per week seems a little adventurous to me.

in my opinion better areas to buy an investment flat is closer towards el dahar in the area where the hilton plaza hotel is or in sakalla itself. at leats in these places you can offer the infrastructure that your guests will need i.e. public beach, supermarket shops etc.

i also would think that with mr. mubarak soon leaving the government and the muslim brotherhood eyeballing the then vacant seat, it is probably not a good idea to invest now into a country where nobody knows what the political situation will be in 5 years time. i am sure i can not be the only one that thinks it is slowly time to get out of the country.

y'all have great day now
Andy
Hurghada Information Net

ps: i find it strange that any british engineer would find egyptian building work acceptable (smile)

[dave99]

Originally Posted by andyWagner

hi guys,

y'all have great day now
Andy
Hurghada Information Net

(smile)

Hi Andy

Glad we agree about rental position in Hurghada:
- there are far too many adverts pushing the rentals side
- I make a point of telling all my potential owner that rental is not a commercial prospect yet.

Do you live near my apartments:
- I'd like to know more about this noise at 4:30 in the morning
- I've been on-site many long hours early morning to late night and never heard the mosque make sound.

Also there is a mini-mareket within 60 metres, and a supermarket in the marina, and that's before any of the apratments in this area are finished.
At the moment it would not make good business sense to have a large supermarket until there are people from all of the other developments in this area to buy things.

It will be very easy, just as in the UK, to get a weeks shopping from places like the new Metro or where ever anyway with the oddments etc from the local shop.

PS.
Whos the engineer ??
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[andyWagner]

hi dave,

yup investment rental is probably not going to make many people happy...hurghada is already saturated with overprized rental properties...i guess it is good news when you want to invest in a property since prices should drop considerably...it is not easy to do the right thing with your money anyhows...

yup we live not far from your property up on hurghada beverly hills which is located up on the hill to the left of the beirut and king tut hotels (driving north) we have owned there for more then 5 years when there was nothing else around...

the mosque that i am talking about belongs to the arabia i.e. arabella resort and may not be aktiv all the time. having said that i do see people there almost every time i drive past. you find it on the southern corner of the arabella complex and the northern corner of the naval area that is located between the arabella and the azur horizon resorts...

of course you are right..you can always drive to one of the big markets assuming you have a car....

the engineer is the one you mentioned before...i think you wrote blue horizon. dont misunderstand i think it is great that a foreign engineer watches over the building site.

we have build a resort in the south of egypt and i am sure that is where i contracted my ulcer and lost the rest of my already dwindling hair...

anyway you have a great day now...
Andy Wagner
Hurghada Information Net