Hurghada Apartments, Hurghada, Egypt

Hurghada Apartments, Hurghada, Egypt

It offers substantial sized apartments with a choice of west-facing units, with beautiful views of the desert, mountains and sunsets; or east-facing with views of the sea for the upper levels. The top floor apartments will have the additional benefit of secluded rooftop terraces that are the same size as the apartments, which will incur an additional charge.

The development offers a high specification build and finish to European standards and apartments will include the following:

• Fitted kitchen
• Air Conditioning
• Two metre deep balconies
• Bathroom (shower tubs in the studios; bath or shower tub in the one, two and three beds)

Amenities include

• Communal areas with “Mediterranean” gardens
• Swimming pool and pool bar
• Restaurant
• 24 hour reception
• Walls around the development for privacy
• Cafe

The complex will provide year round services. This will include, maintenance, management, insurance and utilities.

Location
Situated in Hurghada, the apartments are only a short drive away from the airport and have uninterrupted views of the desert, mountains and the sea. Prices start from only £19,950 for a unfurnished studio apartment.

Payment plan
-Reservation £2,000 (refundable)
-30% after 14 days with signed contract
-70% on completion (less £2,000) on completion in summer 2008

Furniture packs
Furniture packs are available at approx 17% of the apartment price – including kitchen white goods.

Building schedule
Work commences May 2007, completion 12-15 months.

Rental Guarantee
Completion is expected in the summer of 2008 and the developer is then providing a 6% net rental gurantee for all purchasers, paid direct to them every 6 months.

After purchase, all costs for investors will be covered until the summer of 2010.

Ongoing Rental
However, due to the low capital costs, it is expected that there is likely to be an exceptional return on rental after the two year guaranteed rental period.

For example, on a 12-month season with a 50% usage at £100 per week, a studio would give £2,600 per annum = 12-14% return

Key facts

• Prices from £15,950
• Completion Mid 2008
• Unit types Studios and 1-3 bed apartments

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