del.icio.us
|
Digg it
|
Furl
|
reddit
|
Spurl
|
Wink
|
Yahoo MyWeb
|
* Marsa Alam Beach Resort - Pre-launch Investment Guide *
- Prices starting at €29,500 (about £22,000)
- Beachfront 5 Star development
- Extensive range of facilities
- Guranteed 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
Situated on the Red Sea, the new IPI resort lies only 45km south of the Marsa Alam International Airport and 20km north of Marsa Alam. IPI are developing 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. At the pre-launch stage a full list of facilities is yet to be provided, however, this resort will be largely based on IPI’s recently sold out Zafarana Beach Resort. A list of facilities for the Zafarana Beach Resort is contained below for comparison.
Zafarana Facilities:
- Stunnng, high-spec apartments, all with individual outdoor space and some with a prime beach-front location.
- Salt and fresh water swimming pools
- A full range of on-site facilities which will include:
- A marina
- scuba diving school and water sports
- restaurants
- nighclub
- reception and room services
- in-house serviced laundry
- proposed off-road motor sport centre (20km North of the resort)
- tour services for water and desert activities
- shops and supermarkets
- tennis courts
- medical and dental surgeries
- shuttle service
- LAN internet connection in all rooms
- wireless internet connection in the Hotel
- private beach and coral reef
- diving shop
- bars
- 24 hour concierge
- ampitheatre
- botanic gardens
- wellness centre/fitness centre
- mini golf
- 24hour in-house security services
- limo services
The Location
Marsa Alam is located in the south of the Egyptian Riviera on the Red Sea approximately 300km south of Hurghada. The popularity of the 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 this teminal 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 area is seeing an explosion in tourism growth and development to cater for these tourists.
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.
The Apartments
One Bedroom
There will be 1050 5 star boutique one bedroom apartments. Priced from €29,500 (pre-launch pricing), these beautifully designed apartments offer 45m2 internal living space consisting of one bedroom, one bathroom and open plan living area with integral kitchen; there is an additional 8m2 external living space.
Two Bedroom
Garden Apartments priced from €49,950 (pre-launch price). These beautifully designed apartments offer an 80m2 internal living space, consisting of two bedrooms, one bathroom, a kitchen and an open-plan living area; an average of 16m2 terrace space and 60m2 garden.
Middle Apartments priced from €39,950 (pre-launch price). These beautifully designed apartments on the first floor offer an 80m2 internal space, consisting of two bedrooms, one bathroom, a kitchen and an open-plan living area and an average of 16m2 balcony.
Penhouse Apartments priced from €59,950 (pre-launch price). These beautifully designed apartments on the second floor offer an 100m2 internal space, consisting of two bedrooms, one bathroom, a kitchen, an open-plan living area, a rooftop second reception room/3rd bedroom, an average of 16m2 balcony and a 60m2 rooftop terrace.
Price List
One Bedroom Apartment
Price - €29,500
Rental Guarantee: N/A
Ground Floor Garden Apartment
Price - €49,950
Rental Guarantee:
- Year 1 : 6% - €2,997
- Year 2 : 8% - €3,996
- Year 3 : 10% - €4,995
- Year 4 : 12% - €5,994
- Year 5 : 14% - €6,993
Middle Floor Apartment
Price - €39,950
Rental Guarantee
- Year 1 : 6% - €2,397
- Year 2 : 8% - €3,196
- Year 3 : 10% - €3,995
- Year 4 : 12% - €4,794
- Year 5 : 14% - €5,593
Penthouse Apartment
Price - €59,950
Rental Guaratee:
- Year 1 : 6% - €3,597
- Year 2 : 8% - €4,796
- Year 3 : 10% - €5,995
- Year 4 : 12% - €7,194
- Year 5 : 14% - €8,393
Please note that some apartments will have an additional surcharge on price upon release due to exceptional position. This surcharge is expected to range from €3,000 to €5,000. If an investor does not wish to pay the surchage then an alternative apartment will be provided that is not subject to this. Prices and calculations are subject to change.
Breakdown of payments and procedure
As this development is currently at the pre-launch stage investors will have the opportunity to take out an option on an apartment by placing a €1500 fully refundable deposit. This will allow the investor to get the best apartment there is available once the development is officially released and also to take advantage of the discounted pre-launch pricing. In order to place an option investors will need to follow this process:
- Fill out a reservation form containing their name, contact numbers, address, e-mail address and type of apartment (i.e. garden, middle or penhouse).
- Investors will be required to transer the amount of €1500 to the escrow account, details of which are contained on the reservation document.
- Investors will need to return the signed reservation form, a copy of their passport and a recent utility bill to the agent.
- The option will be placed ONLY when the funds are receipted into escrow and the order which funds are received will determine the order which investors will choose their apartment. Therefore, the quicker the money is sent, the higher up the list the investor will be placed and subsequently the better choice of apartment they will have.
- Investors will be placed on a waiting list based on their apartment preference and the time the funds show in escrow.
- The project will be officially launchd no later than the end of February 2008.
- Seven days before the launch, those who have pre-reserved will be sent the full details including site map and location of individual apartments.
- A call will also be scheduled in a 15 min window in seven days time where the investors will be individually called by a representative of the developer and asked for their decision on whether they are going ahead and which apartment they wish to reserve.
- The developer will take all reasonable measures to contact the investor during the 15 minute wndow but if for any reason the investor is unable to take the call then they will be moved further down the list.
- Should the investor not wish to proceed then they will be sent a form to fill out where they will provide account details for refund and give IPI written confirmation of cancellation.
- Should the investor wish to proceed, contacts will be prepared immediately and sent. The client will then have a period of 14 days to complete the purchase and pay the balance into escrow. Should the client not complete by this time then they will be subject to the increased price.
Developer
The Resort is being developed by IPI, based in the Netherlands and the Egyptian based construction company El Mohannad Real Estate.
International Property Investors bv
Company profile of IPI International Makelaardij bv And IPI International Property Investors bv:
Type of Company: B.V. is a joint stock company according to Dutch Law and established in 2004 en 2006
Share Capital: The whole of the issued share capital is owned by the holding companies Notwerk bv and Hedra Beheer bv
Offices: Herenweg 181 - 1934 BA EGMOND aan den HOEF - The Netherlands. IPI office on the site of the Zafarana Beach Resort. IPI office in London. IPI office in Maarn, The Netherlands.
Track Record:
- Mr Jurgen Oddens was during 1998 and 2003 responsible for Benelux sales and marketing of Golf and Sports resort in Murcia, Spain.
- IPI has done a few developments and restoration and sales of typical old German so called “Fachwerk” houses in eastern Germany. Approximately 25 units
- IPI started in 2004 with the sales and marketing in Europe and assisted in development of the first phase in a resort - north coast, Alexandria region, Egypt. Approx. 100 units apartments and small facilities.
- In March 2005 IPI was responsible for sales and marketing of apartments in Bodrum area in Turkey. Famous Dutch television program on RTL4 made a broadcast of six times about this project.
- During 2005 IPI was involved in small projects around Alanya area in Turkey.
- Since 2005 IPI have worked in partmentship with El Mohannad Read Estate in developing the Zafarana Beach Resort, a luxury 5* resort which sold out in record time, and are continuing this partnership with further developments in the area. There will be an extension of the Zafarana Beach Resort with approximately 240,000m2 as well as the development in Marsa Alam. The joint venture will also be responsible for the maintenance, services, operations and rental of the Zafarana Beach Resort and the future resorts.
El Mohannad Real Estate
El Mohannad Real Estate is a S.A.E Company according to Egyptian law and was established in 1981. Offices are based in Cairo and Suez. The company has a strong background in architect and design and development of holiday resorts and high class residential houses in the Red Sea area, as well as the Mediterranean Coast. At the Mediterranean Coast in Alexandria, the resorts under construction will have in total more than 1,000 units, apartments, villas and hotel suites; specially built for the European holiday market. In Cairo, El Mohannad Real Estate built a state of the art luxury residency tower. Turn key projects were finished in Al Allam Area (Suez), Al Tayareen Resort and Sand Beach Resort (Suez). The first phase of the Zafarana Beach Resort started in 2006 and will be completed by the year end 2008 with more than 600 apartments, villas and hotel suites. The development will include all high class facilities. In partnership with IPI, El Mohannad Real Estate is developing a chain of resorts on the Red Sea Coast including the latest in Marsa Alam. The companies goal is to achieve these luxury resorts with a strong reputation in the tourist industry and provide very high returns on investment for individual investors.
�
This entry was posted
on Wednesday, January 30th, 2008 at 12:33 pm and is filed under Egypt, Overseas Property Exhibition, Overseas Travel.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
