Latest News from Sahl Hasheesh!

[grays4u]

well it seems my post hase been met with mixed respones.i think none of the posts where knocking this resort as you rightly say we have not seen.but the process of research and gathering info on any investment starts with internet the resorts own site and any other info out there.you can then get a feel if you want to take this any further. hence my post was just stating the facts.
however its clear the agents as always seem to take oportunity to promote this site come what may and rubbish other investments in hurghada. I have decided not to invest here it does not feel right for me but i hope it all work out for the future.so in conclusion i think we all agree if the info out ther was better in might increase sales including mine

[Peter Mitry]

I have just returned from Sahl Hasheesh and there are clients living in their units in Palm Beach Piazza full time; also at least 40 owners have now signed for their units which are now ready to occupy. The Developers Orbit are providing basic facilities and it will be a few more months before the restaurant and other facilities open. The pool is in full use and the Italian couple who are living there are extremely happy. This is a new and developing resort; surely it would be naive to think that everything would be open on Day 1? I tell all of my clients not to expect much in the first year but it will be a different story when a few more hotels are open providing the necessary clientèle for the shops & restaurants in old town to start trading. Its chicken & egg and it was always going to be that way - the same as any other new resort on this scale. Its a five year hold in my view and I will be amazed if prices have not tripled by then..

[Peter Mitry]

If my records are correct (and they usually are) Graham (grays4u) was going to buy in Palm Beach Piazza last year and didn't go ahead. I hope this is not sour grapes Graham? Your unit has gone up in value 17.5% since then!

[orosurf]

I'll stick my neck out and say ;If you are thinking of making a quick buck,maybe SH is not where you should buy ,obviously it is going to take a couple of years for the resort to be fully finished with all commercial units full etc.so rental incomes are not likely to amount to much in the first year or two.Look a little further ahead though and things start look a lot more attractive in Sahl Hasheesh than in Hurghada.Anyone who has visited Hurghada town will know that almost all the best beachfront plots already have large hotels built on them and many beaches are only accessible to hotel guests.Also rentals are very cheap.

Don't get me wrong,I'm not saying there is nothing worth buying in Hurghada town,there are some bargains to be had.However,if you want frontline beach ,attractive surroundings within a low density resort,go for Sahl Hasheesh.

If you want to get into town taxi's in Egypt are very very cheap,even with baksheesh!
If you feel like treating yourself you can go by speedboat for just 20 quid ,or less if you can haggle nicely.

I had a fantastic time in Egypt and would reccomend it to anyone The people were very friendly the food and weather were great.The Red Sea simply has to be seen to be believed. One thing I realised is that in Egypt you don't have to take the cheap option.

Go to Egypt, see for yourselves,take a look at the bigger picture, you'll see where I 'm coming from.

[chrissven]

What has that got to do with grays4u's orginal post peter?, just because someone makes some valid points doesnt mean they are knocking sahl because we all know it has the potential to be a fantastic resort, no need to make it personal.
this forum is supposed to be about investment opportunities, and sharing information with fellow investors.

[Peter Mitry]

I am not trying to make personal comments about anyone but there seems to be a lack of understanding that Sahl Hasheesh resort and Hurghada are two completely different products. Many of my associates have strict rules about where we invest money; front line beach, value added features, golf, marina etc etc and for us Sahl has it all. I will never knock the people who consider Hurghada town to be a better investment; that is their personal choice. Neither will I knock people who criticize the Developer - no one is perfect and there are always areas for improvement. I manage a network of agents whose job it is to sell the project so it is in our interest to take all comments on board. However, many comments are made by people who have often not visited the site or at least not for some time and it is hard to take these comments seriously.

[dave2u]

can somone tell me when this resort excluding the marina will be
finshed i keep getting conflicting info from the agents .the shops are still
empty and the golf course is still sand. if i buy here when will i have all these facilities up and running for use buy my renters
i think its important to know this before i take the plunge as you can not rent out a building site

[Peter Mitry]

Following a meeting with my Broker this afternoon we can now offer all purchasers in Sahl Hasheesh a 65% LTV mortgage over 12 years at a variable interest rate of 6.5%, Fixed rate 7.15%. If this is of interest to any existing or future buyers please contact me for more details.

[dave2u]

allthough a step in the right direction i think it still falls short of the mortgages egypt needs to stimulate sales even more

[andyk2]

Mortgages in Egypt have been available for well over 6 months -allbeit only from certain developers. This move won´t generate any further sales. What Peter needs is a sensible pricing policy from Resort Alliance!