Marsa Alam

[Liz]

Originally Posted by ted_007

Hi all,

I am one of the investors in Marsa Alam Beach Resort.

I have no idea why some of u here complain that no one informed u etc.
I am getting lots of info from my agent, almost twice a week. They r available 24/7 and they seem to get all the info on time both from IPI and Stark Enterprises.

I got my Investment Guide yesterday and I can tell ya - it is FANTASTIC! My wife would be surprised about my excitement, but I am really excited!
RESORT LOOKS FANTASTIC! The amount of work put into presentation seems to be enourmous - I am not surprised that it took a bit of time to prepare it. I am going to change my choice to Penthouse and looking forward to my first holidays.

Do we have what to complain about?
IPI is late with a launch a few days - WHAT A BIG DEAL! Have ur other developers never been late?

Regarding information - I find IPI to be the best in keeping their clients informed. Comparing all other developers in other countries I've invested so far.
IPI stays in touch. Invites investors to parties. Agents inform about every their move. I find their communication very efficient at this.

Marsa Alam is one of the greatest resorts I've seen so far on the market.
So, sure, to prepare it took a good bit of time.

Lets be patient and reasonable, lads. Good things come to those who wait.

I am tonight considering pulling out due to the state of the airline industry and the worry that there may not be any flights to Marsa Alam the way the world is going at the moment. Have you any thoughts on this. And I would love to see what it is that you received that got you so excited. Do you think people will still go on holiday over the next few years and rent out the one bed apartments? I am so worried by what I saw on the TV tonight.
Liz

[Liz]

It seems, at the moment, that all the development is along the beach. Does anyone know if they will build back, into the desert, eventually?
And does anyone know how far it is to the nearest hospital and how you would get to it?
Liz

[Lsab]

Hello Liz and welcome to the forum.

I'm sorry you haven't had a reply to your questions yet but sometimes it takes a few days for members to reply to each other.

What I would say is that Egypt doesn't just rely on the UK or even Europe for tourists. Many Gulf Arabs spend their summers there and it's also popular with Russians. I don't think the price of air fares will bother either of them! Having said that I think that personally I'd be cocerned if I was relying on the rentals to pay the balance of my apartment.

I hope others with more knowledge and a vested interest, will post their take on the situation.

Best wishes
Linda

[Liz]

Thank you Linda for your response. Luckily I am not relying on the rentals to pay the balance so that's one blessing. But it would be nice to think you could get some rentals in order to balance out the amount of interest we are losing each year. I fear that once you have purchased you may be stuck with an apartment for life, and that is a long commitment. But, I suppose things will, one day, pick up globally. Bye for now.

[Lsab]

Hi Liz,

I've asked some members who are buying on other developments, for their take on this. Hopefully you'll have better informed opinions than mine later today.

The rental question is always a valid one wherever you are and if you're not having to rely on the income thats a bonus. I know that many people buying in Egypt are buying primarily for their own use with the hope of renting between times. Others are buying purely for investment - some a bit of both. It would be interesting to hear opinions from all sides.

[Rivermead Global Property]

Originally Posted by Liz

Thank you Linda for your response. Luckily I am not relying on the rentals to pay the balance so that's one blessing. But it would be nice to think you could get some rentals in order to balance out the amount of interest we are losing each year. I fear that once you have purchased you may be stuck with an apartment for life, and that is a long commitment. But, I suppose things will, one day, pick up globally. Bye for now.

Hi Liz, i know it is a different development and area but i know a couple with an apartment in Desert Pearl 1 who are fully booked until Jan 2009 and turning bookings away. As Linda says it is not just the UK and they have a lot of interest from Russia, so you should get some rentals if advertised properly.

Originally Posted by Liz

Hello, I'm Liz. Have put a deposit on a one bedder at MABR. Having just watched a TV programme about the dire state of the airline industry and the fact that they are ceasing to run many flights around the world has given me great cause for concern. Is anyone else worried. I am contemplating pulling out as I have no rental guarantee to fall back on and wonder if there will be many holiday makers at all now that the age of cheap flights is over.
I'd love to hear from anyone with any advice. Apart from Thomson and Thomas Cook (I think) I am not sure how many airlines fly to Marsa Alam. But these could all be cut at any time. Hope to hear from someone before I pull out.
Liz

Hi Liz and welcome to this forum. I've bought an off-plan apartment in the Hurghada region with guaranteed rental for 5 years. I agree, the situation with flights and the looming recession is cause for concern, however I still feel in the long-term our investment will pay off. As you are not dependant on rental income, and if you're prepared to wait for capital growth, I'm sure you will benefit from the fruits of your investment in the future. But, ofcourse, we have to play the waiting game. We have gone through recessions before, not always given fancy names like 'credit crunch' but still amount to the same doom and gloom. As Neil and Linda have pointed out, it is not only UK citizens that visit Egypt there are lots of nationalities including rich Egyptians. May be worth looking in to using a company that advertise worldwide to manage your rentals. Hope this helps, please keep us posted with what you decide

[Liz]

Thanks for your emails everyone. I've decided to stay in. It's my dream to own an apartment with a sea view and I shouldn't let the credit crunch get to me. As most of you will know Marsa Alam Beach Resort will be sold as holiday packages in many countries. Hopefully I will get some money back on the project through the rentals. Hope my contract comes soon.
I'd love to see the investment guide that Marsa Alam Beach Resort buyers have received. I've asked Ted, above, but not heard from him yet. Thanks all. Liz.
P.S. Having trouble finidng out about what airliines go there other than Thomson and Thomas Cook. I found XL flights, but on one page they go there and then on the next page they don't. Am a bit confused about that one. Obviously I need to know what flights go there from all over the UK, but, personally I will be travelling from Gatwick, but more worried about that in 15 years' time when I am going there more frequently. Does anyone have the name of a web site that might answer the question? Thanks. Liz

Originally Posted by Liz

Thanks for your emails everyone. I've decided to stay in. It's my dream to own an apartment with a sea view and I shouldn't let the credit crunch get to me. As most of you will know Marsa Alam Beach Resort will be sold as holiday packages in many countries. Hopefully I will get some money back on the project through the rentals. Hope my contract comes soon.
I'd love to see the investment guide that Marsa Alam Beach Resort buyers have received. I've asked Ted, above, but not heard from him yet. Thanks all. Liz.
P.S. Having trouble finidng out about what airliines go there other than Thomson and Thomas Cook. I found XL flights, but on one page they go there and then on the next page they don't. Am a bit confused about that one. Obviously I need to know what flights go there from all over the UK, but, personally I will be travelling from Gatwick, but more worried about that in 15 years' time when I am going there more frequently. Does anyone have the name of a web site that might answer the question? Thanks. Liz

Hi Again Liz,

Try the link below, I've found it to be the most beneficial personally, it covers a wide range of airlines. I randomly searched flights from Gatwick to Marsa and they're coming in cheaper than Hurghada
Cheap Flights Search

[propertastic]

If anything, I think that the gloom and doom and recession will actually help Egypt as a tourist destination.

Why? Egypt is cheap. Having been living here for six months and being used to Egyptian prices, I was nearly crying every time I had to get my wallet out on a recent trip to Barcelona and Ibiza! For anyone paying in GBP, anywhere in the Eurozone is now an expensive place to go on holiday.

So flights might be more expensive, but when you look at the cost of flights versus the entire cost of a holiday - including all of your spending money - it is still going to be a lot cheaper to spend a week in Egypt than somewhere on the Med.

Where else can you go for winter sun from the UK? The Canaries are expensive as they are in the Eurozone.

I think that the areas that are really going to suffer most from the problems that the airline industry is having is any of the long-haul destinations. I think that those who have bought in places like the Carribean or SE Asia have a lot more to worry about than those buying in Egypt as this is where flights are going to get really expensive.