Best value in Egypt

[SHO]

Originally Posted by propertastic

I think that success breeds success. There's more development in this part of town anywhere else other than the Touristic Centre, which will increase the value of land and half-finished properties.

I thought that the new laws about having to finish a certain amount of the building work over a set time period or else the land reverts back to the town was designed to stop this problem in any case?

Egyptians seem like pretty enterprising people to me. I can't believe that, once there are 2000+ apartments occupied in this area, no taxi driver is going to want to go there.

Although it is seperated by that stretch of military land (which I don't think will be the case forever), this part of town is still closer to the centre than the southern end of Hurghada is.

Well current land owners have till 31st December this year before the new governor will start taking land back off them. Unfortunately though all they have to do is get the foundation and skeleton up and their sorted.

A lot of land owners also got the land for next to nothing and they dont really have enough funding or no how to take it forward.

Anyway... we can keep our fingers crossed that the others will develop, or we can buy in more developed areas...or of course pay that little bit more and buy in something like Sahl Hasheesh.

[awahee123]

Those who haven't started haven't got a chance or have they?.

[propertastic]

Originally Posted by awahee123

Those who haven't started haven't got a chance or have they?.

I think that, as with most things in Egypt, this will depend on if the developer has friends in high places or not.

[SHO]

Originally Posted by propertastic

I think that, as with most things in Egypt, this will depend on if the developer has friends in high places or not.

It will probably depend more on if the said plot of land has been pre-reserved for a new buyer who is "more" connected

[awahee123]

Hmmm,

New governor new laws until he gets to know everybody that is.

[dave99]

Originally Posted by awahee123

Hmmm,

New governor new laws until he gets to know everybody that is.

Is it always going to be like this ! - it's not a good thing in general for any country to work like this in such an obvious manner.

Sure it happen world over but not as much as it would seem to here.
..
.

[Peter Mitry]

It's no diferent to Spain where we have had the recent town hall scandals with cash being paid to senior officials in return for building licences. Then came a change of central government (following the Madrid bombing) and corrupt officials are now in jail and building licences have been revoked. The short term effect has meant turmoil in the property market but the long term will be more predictable and better for everyone.

[dave99]

Originally Posted by Peter Mitry

It's no diferent to Spain where we have had the recent town hall scandals with cash being paid to senior officials in return for building licences. Then came a change of central government (following the Madrid bombing) and corrupt officials are now in jail and building licences have been revoked. The short term effect has meant turmoil in the property market but the long term will be more predictable and better for everyone.

Anything similar known in Egypt yet

[Peter Mitry]

I think that corruption of this sort is rife in many developing countries so I doubt that Egypt is any different.

[wemyss1960]

Just like to say this has to be the best thread to date. Everyone appears upbeat about Sahl Hasheesh,Hurghada and El Gouna. No real *****ing!
Nice to hear Peter's (Resort Alliance) and George's (sun-world) comments. Remember me George?
Conclusion appears to be, whether its front line Sahl Hasheesh or in town, buy! buy! buy! buy!

regards

Stuart

(mutilple buyer Palm Beach Piazza via Resort Alliance)