Media Watch

[Organics1]

Originally Posted by Georgina

I wonder about the Red Sea Coast? El Gouna is especially low lying with lagoons constantly eroding. And along the coast towards Hurghada there are some areas where the land is almost at sea level up to the main road. About four years ago after a particlarly bad storm the flooding was up to the road at this narrow section of the beach. I was at a friend's villa down the private road just before Calimera Hotel. The other side of that is a construction site and the first buildings were completely flooded. With all the massive construction that has gone on since, this development has not been touched.

Do they think Red Sea levels will rise too or just the north coast?

You beat me to it!

I was just thinking the same thing

If it does include the Red Sea then I wonder if developers have had the foresight to take this into account in their planning.

[dave99]

Originally Posted by Georgina

I wonder about the Red Sea Coast? El Gouna is especially low lying with lagoons constantly eroding. And along the coast towards Hurghada there are some areas where the land is almost at sea level up to the main road. About four years ago after a particlarly bad storm the flooding was up to the road at this narrow section of the beach. I was at a friend's villa down the private road just before Calimera Hotel. The other side of that is a construction site and the first buildings were completely flooded. With all the massive construction that has gone on since, this development has not been touched.

Do they think Red Sea levels will rise too or just the north coast?

This is important to understand but is not anything new and for owners and potential owners of property on the Red Sea it's simple common sense - if you really must be tempted by "being on the beach" as being the the "only" place to buy then you must take the sea in to account. The fact that the Red Sea shows very little tidal movement simply hides the possibility of something more significant.

Some areas of Hurghada have already been built on what is clearly a "wet" area.
Developers can cover for some elements of "wettest" but not flooding. The only way to be safe is NOT to be in a beach front property.

Would be interesting to know what happens with insurance claims.
.
.

[nubianqueen]

hear your concerns and thoughts dave and i agree, why do human beings think they are the masters of the natural environment and then disasters strike and oh!! my apartment in london and hurghada are both on the top floor what does that say about me!

nubianqueen

p.s. hope you are well and i know busy busy busy!

[Organics1]

Originally Posted by Georgina

I wonder about the Red Sea Coast? El Gouna is especially low lying with lagoons constantly eroding. And along the coast towards Hurghada there are some areas where the land is almost at sea level up to the main road. About four years ago after a particlarly bad storm the flooding was up to the road at this narrow section of the beach. I was at a friend's villa down the private road just before Calimera Hotel. The other side of that is a construction site and the first buildings were completely flooded. With all the massive construction that has gone on since, this development has not been touched.

Do they think Red Sea levels will rise too or just the north coast?

As a Muslim myself I thought I would share this.

This news isn't new, in fact it's 1400 years old.

The Arabian Peninsula - IslamOnline.net - Living Sharia'h

T

[realestatemart]

MBC launched a new free English Channel called MBC Max

[Peter Mitry]

PUBLISHED TODAY IN OPP WEEKLY NEWSLETTER


Wednesday, 21st January 109, 5:22:13
FRACTIONAL PROPERTY TO ‘OUTSELL FREEHOLD WITHIN FIVE YEARS’
Fractional ownership, Mintel, Ragatz Association, Northcourse Ltd, The Best Group, RGM Fractional, Middle East, Egypt



Fractional property will take over from freehold sales in Europe within five years, according to industry specialists, as poor economic conditions leave its legacy on the world’s mid-range buyer market.

Fractional ownership was already growing in prominence with global buyers before the downturn, according to data from Mintel and the world’s two biggest fractional consultancies, the Ragatz Association and Northcourse Ltd, which revealed that in 2007 the fractional ownership industry was worth US$1.98bn, (20% up on 2006) excluding destination clubs which registered a further $2bn in sales.

In 2008, the market is predicted to be worth $1.2bn alone in the Middle East, with the majority of establish European and Mediterranean markets all recording strong growth in sales figures.

The industry is also taking root in Egypt, with agency Egypt Real signing a new affiliate partnership with consultancy Fractions Abroad, making it, what it claims, the first company to offer fractional ownership in Egypt.

“Fractional ownership is a great tool to enable you to secure business from almost any client no matter what their aspirations or budget,” said Peter Mitry from Egypt Real. Commenting on his structure in the country, he added: “Contracts will be tailored to the individual developers who adopt fractional and can be produced in all of the major languages which will feature alongside Arabic.”

Meanwhile, more and more developers are looking to fractional as a way to secure sales in an uncertain future. Brad Lincoln, CEO of fractional consultancy The Best Group, said his company has been approached by an average of two developers per day to help them consider structuring a fractional product, but turn down 85% because there are not enough trained sales people to handle fractional sales, also stating that “fractions do not turn a poor resort into a good one”. “In five years time the only people not buying fractional will be retirees. Fractional is going to take over completely,” he added.

As a result, the new launch RGM Fractional held its inaugural Fractional Awareness Day in London, designed to raise awareness within the industry about fractional ownership and advise those brokers looking to enter the sector.

The audience of property professionals were taught the workings of fractional ownership, how this can be sold against freehold properties, either as a lifestyle, or an investment proposition, and the distinct differences between fractional ownership and the infamous timeshare industry.

“We have flown over from Spain today to learn more about fractions and the different financial vehicles open to interested buyers,” said Allen Cooper, from World Properties and Land. “This is a growing market, but there is a clear lack of knowledge in the industry.”

Enda Maguire, from Equity Share International, added: “The day was very informative, accurate and well targeted at those looking to sell in the sector.”

Speaking about the future of the international property industry, Lincoln suggested that freehold ownership will become a “luxury, with only high-end buyers taking this path” in the future, with fractional ownership, and its lower cost of entry, taking over.

Graeme Grant, MD of Resort Group International, agreed with Lincoln and said, at the awareness day: “Fractions have been successfully marketed in the USA for some 10 years now and will become the major leisure property product in Europe within five years, easily outselling freehold within that period.”

[samui13]

Cairo Market Bomb Blast: Tourists Killed And Many Hurt, Including French And German | World News | Sky News

[Georgina]

AFP: 3 dead, 10 missing in Egypt cargo ship sinking

[sharmcliff resident]

Last November we discover that British television ITV1 was looking for new story for the program “New Homes from Hell 2009: Buying Abroad”.

The program is a look at what happens when the purchase of a dream holiday home leads to disaster. Nearly a million Brits now own a property overseas, but foreign laws and language barriers can lead to some problematic and expensive issues after the sale.
ITV1 - New Homes from hell 2009

We dropped them a mail and immediately they got back to us. After a dozen of more mails and phone calls, the filming crew arrived in Sharm the second week of December.
Two full days of filming and interviews followed.

On Tuesday the 17th of March at 8:00 pm (Uk time) our story will be presented during the program on ITV1 - New Homes from Hell 2009: Buying Abroad.


more info at : sharmcliff.info

[propertastic]

I just noticed that the Google Earth satellite has recently made a sweep of Al-Ahyaa - the area between Hurghada and El Gouna.

So if you've bought something there, you can take a look and see what's changed over the last couple of years since the satellite last mapped the area.