July 2010 NEWS UPDATE: The Developers of Marsa Alam Beach Resort have just finalised an agreement with the World of Wellness who will now be offering facilities and services within the Resort.
This is an enormous boost that will be evident in all facets of the Resort, but ultimately will lead to an even better development than was initially planned.
The co-operation will mean:
Additional facilities
Expanded facilities, particularly in the Wellness Centre
Even higher quality construction finishing and furnishing
Much higher level of service in the resort
A unique selling point for both property and holiday sales
Higher expected occupancy levels resulting in higher rental returns
Marsa Alam Beach Resort. Apartments from just Euro43,800. Amazing 10% annual rental guarantee at Marsa Alam Beach Resort for the first 5 years of ownership on 2-bed apartments. This means you get 50% of the purchase price of your property at Marsa Alam Beach Resort back after 5 years!
Marsa Alam Beach Resort will be a beautiful gated
luxury resort comprising 1050 one-bedroom apartments and 450 two-bedroom apartments.
This beach-front resort will be set in landscaped gardens around communal swimming pools.
Marsa Alam Beach Resort has been designed as a number of small apartment blocks - in different shapes and positions to maximise the number of apartments that benefit from having an unspoilt sea view.
Constructed on a 250,000sqm plot, Marsa Alam Beach Resort will have a 500 meter stretch of private coastline. Marsa Alam Beach Resort will also incorporate an additional 52,000sqm set aside for the construction of retail outlets, bars, restaurants and staff
accommodation.
Prices for apartments at Marsa Alam Beach Resort are starting to climb steadily, so now is definitely the time to reserve to get the best apartments, in the best locations, with the best views.
Location
Marsa Alam is located in the south of the Egyptian Riviera on the Red Sea
approximately 300km south of Hurghada.
Marsa Alam Beach Resort is situated on the shores of the Red Sea 45km south
of Marsa Alam International Airport, and 20km north of Marsa Alam town.
The popularity of the Marsa Alam region as a diving
destination led to the construction of the Marsa Alam International Airport 65km
north of the town itself. Construction is currently underway on an extension to
the terminal at Marsa Alam in order to handle the increased tourist inflow into the now easily
accessible area.
With direct flights from London and many other European
destinations now available, the Marsa Alam area is seeing an explosion in tourism growth
and development. Which all bodes well for investors in Marsa Alam property.
Features and Facilities
Marsa Alam Beach Resort will include the following features:
Luxury frontline beach development.
Prices starting from just Euro43,800.
Extensive range of facilities on site.
Average 10% rental guarantee option for five years.
Freehold ownership.
Renowned as one of the world’s premier diving sites.
Excellent capital appreciation expected.
20 km from Marsa Alam International Airport.
500M Private beach and coral reef.
Marsa Alam Beach Resort will include the following facilities:
Stunning, high-spec apartments, all with individual outdoor space and a
selection with prime beach-front location.
Salt and fresh water swimming pools.
A scuba diving school and water sports diving shop.
Private beach and coral reef.
Restaurants, bars and a nightclub.
24 hour concierge, reception and room services.
Amphitheatre and botanical gardens.
In-house serviced laundry.
Proposed off-road motor sport centre.
Tour services for water and desert activities.
Shops and supermarkets.
Wellness / fitness centre, tennis courts and mini golf.
Medical and dental surgery.
24hr in-house security services.
Airport shuttle service and limo service.
LAN internet connection in all rooms with wireless internet
connection in the hotel.
Apartment Details
Marsa Alam Beach Resort will comprise a range of 1-bedroom and 2-bedroom apartments:
1-bed Apartments (45-50sqm) priced from Euro43,800 plus additional furniture pack (from Euro4,900). Consisting of:
one
bedroom
one bathroom
open plan living area
additional 8sqm
external space
2-bed Apartments are available in 3 options - Garden Apartments, Middle Apartments, and Penthouse Apartments.
Garden Apartments (net 79sqm) priced from Euro69,300 plus additional furniture pack (from Euro9,800). Comprising:
two
bedrooms
one bathroom
one kitchen
ppen-plan living area
an average
of 16sqm terrace space
60sqm garden
Middle Apartments (net 79sqm) priced from Euro55,750 plus additional furniture pack (from Euro9,250). These
first floor apartments consist of:
two bedrooms
one bathroom
one kitchen
open-plan living area
an average of 16sqm balcony
Penthouse Apartments (net 79sqm) priced from Euro83,200 plus additional furniture pack (from Euro9,250). These
second floor apartments consist of:
two
bedrooms
one bathroom
one kitchen
open-plan living area
an average of 16sqm balcony
Please note that all apartments at Marsa Alam Beach Resort that are being entered into the guaranteed rental pool will have additional costing for furniture
packs.
Floorplans
Click on the relevant link to have a look at the floorplans for our apartments at the Marsa Alam Beach Resort:
All the 2-bedroom apartments at Marsa Alam Beach Resort will be backed by a guaranteed rental scheme. This will involve an average return of 10% per year being paid to purchasers each year for the first 5 years of rental after completion.
This effectively means that 50% of the purchase price of your property at Marsa Alam Beach Resort will be paid back to purchasers after 5 years.
The Guaranteed Rental amounts that will be paid to purchasers at Marsa Alam Beach Resort will rise each year. Starting at 6% in the first year to 14% in the fifth year:
Potential purchasers of property at Marsa Alam Beach Resort can ask us to put a specific property on hold for 5 days without making any payment.
After 5 days, if you wish to formally reserve the apartment you would need to pay a reservation fee of Euro1,500 into the independent Escrow account.
The payments terms for our apartments at Marsa Alam Beach Resort is:
Full Payment (less deposit) paid on Contract.
However, purchasers have an option of paying an additional 10% on the price of their property (excluding the cost of furniture packs, escrow, deed and translation) at Marsa Alam Beach Resort and being able to make stage payments instead.
The stage payments that can be made for Marsa Alam Beach Resort, if that option is taken. With regard to the payment stages, there will be some flexibility as construction phases can be delayed or brought in early, but our best estimate is:
10% on Site development. Done.
10% on Start of foundations. Done
20% on Start of concrete structure. July 2010.
15% on Start of brickwork. Sept 2010.
10% on Start of electrics/plumbing work. Nov 2010.
15% on Start of plasterwork. Dec 2010/Jan 2011.
10% on Start of finishing work. April 2011.
10% on completion. June 2011.
As with the reservation deposit, for full peace of mind, purchase payments (either the full payment on contract, or the stage payments) for properties at Marsa Alam Beach Resort are paid into an independent Escrow account.
The property price minus the the reservation fee, together with the furniture pack price (if purchased), and Escrow fee/title deed fee are paid into Escrow within 28 days. The Escrow Agent will then release funds in stage payments as follows:
10% start of construction.
10% start of foundation.
20% start of concrete construction.
15% start of construction of wall and roof.
15% start of plastering.
10% start of finishing works.
10% start of building facilities.
10% after inspection and delivery.
The Escrow/title deed fee of €1,050 that is payable on all properties consists of:
Due diligence approval of the developer.
Due diligence approval of the Egyptian Land Ownership/Government planning approvals.
Due diligence of all plans and construction methods as per industry standards.
Due diligence of the management company.
Setting up of escrow accounts.
Raising of Contracts.
Monitoring escrow accounts in Holland with the developer’s lawyers as per the photographic evidence and structural reports.
Official property certificate in Egyptian and English.
The buyer receives an official property certificate in Egyptian and English.
Stamp of Egyptian Foreign Affairs will be legalized by the Royal Netherlands Embassy in Cairo.
Final inspection and delivery inclusive of all facilities.
Five year construction warranty.
Further Information
You can find further information on our Marsa Alam Beach Resort development, including site plans, floorplans, and background information on the Developer and the Construction Company, in our:
An overview of the Marsa Alam Beach Resort, plus site plans, apartment floorplans, furniture pack details, and rental guarantee information.
Details of the specific positions of the individual apartments at Marsa Alam Beach Resort.
Information such as the layout of the spa and commercial centre, and information on the best dives and excursions to be found near to Marsa Alam Beach Resort.
Please contact Property Matters Overseas to check the latest apartment availability and prices for our properties at Marsa Alam Beach Resort.
You can watch a video showing construction progress at Marsa Alam Beach Resort here.
Further information on our range of properties in Egypt can be found in our Information Library. Just click on the button at the top right of this page.
If you need any other information just send Property Matters Overseas an e-mail via our "Contact Us" page or give us a call.
