Marsa Alam

[cin7166]

I have bought here. I like the fact the resort is more like a holiday village, with spa, basketball courts, tennis courts, private beach, swimming pools, diving school, cinema, shopping malls, medical centre so there are plenty of facilities there. My thoughts are that the area will develop over the next few years.

[kc67]

Hi Han,
Whilst I do not profess to be an expert in property investment in any way and am merely a small-time investor myself, my thoughts are this... Marsa Alam is not in the middle of nowhere, it has its own airport, which is within easy travelling distance of the resort. The resort will be five star beachfront, run by a well known hotel chain and has world renowned diving sites on its doorstep. There are other developments going in the area, although not as many as in other parts of Egypt just now, but I think this also makes Marsa Alam appealing. (I also happen to believe that eventually it will become just as popular as other areas, and now is a good time to buy prime beachfront before prices spiral here). Look at the Port Ghalib/Marsa thread to see how quickly prices have gone up in Port Ghalib. With regards re-sale, well we can all only guess on that one at the moment in whichever part of Egypt we invest. It all comes down to being brave enough to take that chance, but I for one don't think those who have taken the plunge will be disappointed. Just my humble opinion, but hope it helps.
Karen.

[realestatemart]

Originally Posted by hhermani

Hi,
I am new on investing in properties.

Maybe another question on the Marsa Alam Beach Resort. I looked at this project and have a question, let me know what you think.

First of all you buy the property to enjoy it yourself a couple of times a year. But later on you might want to resell the property. Is it possible and what are the potential gains ? A normal house in a little town, I can imagine you make some profit. But this is a resort in the middle of nowhere.

Any thoughts on this ?

Han

if you think this way you should fgo for hurghada or Sharm El Sheikh

[not_terry]

Hi
I am considering Marsa Alam, can you advise me how your development is going, any problems so far?

You mention a sea view - is that protected or could they build in front of you?

I enjoy diving as well and am moving out to Egypt next month hopefully to make a a living in some form in the diving arena - what do you think of prospects in Marsa Alam

It's a bit 'off the beaten track' I believe

[chriscross34]

I've not had any contract through for this development yet, though in one sense i am glad as i keeping my fingers crossed that the pound gets stronger against the euro.

[kc67]

Originally Posted by chriscross34

I've not had any contract through for this development yet, though in one sense i am glad as i keeping my fingers crossed that the pound gets stronger against the euro.

Yeah, let's live in hope. Shame they won't let us pay in USD

[Goldberg Global]

Great forum, great sharing of information. Thank you for all contributors.

A few things, reputable Fx companies to give you better exchange rates than your bank, as well as sterling are the big boys HIFX and Moneycorp, both reputable business.

See who can give you the best rate and service, both found by typing their names in google search engine.

[chriscross34]

thanks Goldberg, will compare their rates. Hi kc67, its Alison isnt it?

[Lsab]

A lot of FX companies advertise in 'A Place In The Sun' magazine but it's good to have some actual recommendations. Thanks Goldberg.

[johnnyM]

Hi

Can anyone help with a couple of questions on Marsa Alam beach resort.

What happens to the guaranteed rental after year 5. Does it continue or is that it.?

Do you have to pay all the money up front in the Escrow account.

Is it a good investment ?

What is the area like is it worth a visit to find out ?