Marsa Alam Beach Resort – 5 star
LOCATION
Situated on the Red Sea, the new resort lies only 45km south of the Marsa Alam International Airport and 20km north of Marsa Alam. The complex will comprise of about 1500 one and two bedrooom apartments set in a beautiful gated five star resort. The plot covers 250,000m2 of prime beach front land and another 52,500m2 on the other side of the road destined for the construction of boutiques, restaurants and staff accommodation.
The Marsa Alam Beach Resort is set over a quarter of a million square meters with half a kilometer of private beach frontage. An extremely low building density of just 18% means that the resort encompasses 205,000 square meters of manicured gardens, lawns, pools and communal areas ensuring that investors and guests alike can take full advantage of the tranquil gardens and surroundings within the resort.
The site map (can be found in the gallery below) details the layout of the apartment blocks with the suites at the sea end and the two bedrooms located in the 2.5m raised rear section; 10 swimming pools; shopping malls; tennis and basketball courts; two jetties; the health spa; diving center; two beach bars and the several reception and service areas.
KEY SELLING POINTES:
- Prices starting at €29,500 (about £22,000)
- Beachfront 5 Star development
- Extensive range of facilities
- Guaranteed rental income for 5 years averaging 10% pa (2/3 bed apartments only)
- Freehold ownership
- Renowned as the world’s premier diving site
- Excellent capital appreciation anticipated
- Private beach & coral reef
- Only 45 km from Marsa Alam International Airport
FACILITIES
Marsa Alam Beach Resort will encompass a full range of on site facilities designed to cater to everyone’s needs. For the more active the resort will include swimming pools, scuba diving school, multiple sport’s courts and organized beach sports activities. For those that prefer to pamper themselves whilst on holiday, a fully equipped wellness, Thalasso and beauty centre will cater to your every need.
An extensive range of on-site restaurants will allow you to sample culinary delights from around the world and why not finish the evening off with a drink at one of the beach bars situated right on the magnificent Red Sea.
With tour and excursion services as well as shuttle, limo and car rental, exploring the world outside the resort couldn’t be easier. To make your stay all the more enjoyable, the resort also comprises two designated children’s areas.
LAN internet connections in all apartments will ensure that you’re never to far from family and friends should you wish to be contactable, but with all of this on your doorstep you’d be forgiven for not wanting to be.
10 swimming pools; both salt and freshwater
2 private jetties
Scuba diving school
Diving and water sports shop
500m private beach
House coral reef
Supermarkets and shops
Shopping mall
Restaurants, bars and a nightclub
24 hr concierge, reception and room services
Amphitheater
Cinema
Children’s playground
4 tennis courts
2 basketball courts
Botanical landscaped gardens with brooks and fountains
In-house serviced laundry
Travel and excursion services
Spa, wellness, Thalasso and beauty centers
Medical and dental services
24 hour in house security services with manned gate
Shuttle service, limo service and car rental
LAN internet connection in all apartments
Wireless internet in Suite section
Rental Guarantee
Marsa Alam Beach Resort is an ideal investment opportunity for those investors seeking high rental returns, capital appreciation, low entry levels and portfolio diversification. There is a Bank backed rental guarantee on the two bedroom apartments which is expected to average at 10% over five years.
Rental income after delivery with a maximum constructions time of 12 months after full payment is received on the bank account of the Dutch Escrow Agent and will be as follows:
First year – 0% construction
Second year – 6%
Third year – 8%
Fourth year – 10%
Fifth year – 12%
Sixth year – 14%
Note: The rental income is calculated on the price of the apartment.
Should you wish to have the added protection of a bank backed rental guarantee then an ABN Amro charge of a €50 set-up fee and 1% of the guaranteed amount will be incurred. With the rental guarantee option you are entitled to six weeks access to the apartment per year which can be taken at any time. You should provide three months notice that you intend to use your apartment in order to ensure its availability. The maintenance fee is covered with the rental guarantee however should you wish to not take the rental guarantee then you would be required to pay the €50 per month charge.
There is no rental guarantee on the one bedroom apartments, these will work on a pooled rental system where all investors will receive a rental income based on occupancy levels.
The Hotel apartments will be managed by a reputable management company to EU standards.
PRICES:
The Marsa Alam Beach Resort offers various investment options to cater to all budgets including:
- Presidential suites from €86,250
- Junior suites from €29,500
- Executive suites from €39,500
- Two bedroom apartments (with rental guarantee) from €43,945
- Two bedroom end apartments (with rental guarantee) from €45,945.
Option 1 – Using Escrow account
Middle apartment – Euros 43,945 furniture pack from Euros 7,450
Garden Apartment – Euros 54,945 furniture pack from Euros 7,950
Penthouse – Euros 65,945 furniture pack from Euros 7,450
Escrow Agent
Deed and translation Euros 1,500
(If the client wishes to register the deed with the Egyptian Notary there is an additional cost of approximately 3% of the apartment price)
Option 2 – using the UK solicitors account
Middle apartment – Euros 43,945 furniture pack from Euros 7,450
Garden Apartment – Euros 54,945 furniture pack from Euros 7,950
Penthouse – Euros 65,945 furniture pack from Euros 7,450
Escrow Agent
Deed and translation Euros 500
The UK solicitor costs – on application
Note: prices are subject to change without any further notification unless reservation has been made
COMPLETION
Estimated/Expected completion – June 2010
PAYMENT PLAN OPTIONS
How to make a reservation:
- Enquire about the availability of the apartment you are interested in and place a verbal reservation for maximum of up to 5 days. We will confirm the option by sending a confirmation e-mail and the reservation form
- Reservations can be made by payment of Euros 1,500 reservation fee. Upon the receipt, the developer will draw up the contract and send 2 copes direct to the client. During this time the 10 days cooling period have passed and the client has to pay the balance of the full purchase price.
There are two payment options:
- Pay the full amount to the developer’s escrow account upon signing of the contracts
OR
- Payment in three instalments which is subject to an additional 10% of the fixed price of the apartment.
Contact us and ask for a comprehensive brochure
Maintenance Fee:
Suites will be subject to a maintenance charge of approximately €50 per calendar month. This will be deducted from the yearly rental payment. This maintenance charge covers all costs associated with the suite such as: maintenance of communal areas, servicing and cleaning of the suite, insurance for damage caused by guests, utilities, any local taxes and provision of bathroom accessories.
The maintenance fee is covered with the rental guarantee however should you wish to not take the rental guarantee then you would be required to pay the €50 per month charge.
Furniture Packs:
Junior Suites: From €3,950
Presidential Suites: From €6,450
Executive Suites Silver (A): From €6,950
Executive Suites Gold (B): From €7,450
2 Bed Apartments: From €7,450
2 Bed End Apartments: From €7,950
Legal
- A full due diligence has been conducted on the developer, development and management group by a UK based lawyer.
- Contracts will be written by UK based lawyers and are governed under European, not Egyptian, law.
- There are no restrictions on direct foreign ownership for this development.
- Unlike other areas of the Red Sea Coast this resort is freehold ownership.
- The Title Deeds will be legalised by the Royal Netherlands Embassy in Cairo.
- There is no restriction on when you can resell your apartment.
Conservation
The Marsa Alam Beach Resort is constructed in an environmentally sympathetic manner. This can be witnessed through the low building stamp, whereby only 18% of the site is constructed on. This not only allows for investors and guests to enjoy vast quantities of green, open space but also minimizes the environmental impact of the resort.
Power
The electricity for the resort will be partly supplied from solar panels located on the roof of buildings within the resort. This not only protects the environment but provides the added bonus to investors of reducing maintenance charges for the provision of utilities. The Egyptian government has also adopted a strong green power initiative with various wind farms supplying power to the national grid.
Water
Water is an extremely precious resource in Egypt and in order to provide the lush green environment that investors and guests expect without negatively impacting the water supply, the Marsa Alam Beach Resort will provide its own water for irrigation, laundry, swimming pools etc through the use of a desalinisation plant located at the rear of the commercial sector opposite the resort.
Employment for the local community
As a rapidly developing country, Tourism is Egypt’s third largest industry behind the Suez Canal and natural gas. Tourism creates the highest level of employment for Egyptian citizens. This project has been developed with careful consideration of the positive impact that a resort such as this can have for the local population. The resort will provide employment for a vast number of the local population during construction, as well as creating excellent opportunities for the community upon completion.
The construction staff are amongst the highest paid workers within the Egyptian construction industry. Once the resort is completed the local community will benefit from facilities provided within the commercial sector of the resort. This includes the provision of living quarters for staff, shops, business services, medical centre, pharmacy, staff dining and a mosque.
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| Price | From Euros 29300 |  | |
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