Egyptian Pearl, Hurghada

Country

Egypt

Area

Red Sea Coastline

Region

Red Sea

Town

Hurghada

Egyptian Pearl, Hurghada

Hurghada Property

Hurghada, the capital of the Red Sea, where the desert meets the sea. Near to Hurghada is the bustling town known as Al-Ghardaka in Arabic. Founded in the early 20th century as a fishing village, with over 40km of coastal resorts and spectacular beaches, the Red Sea Riviera has fast become a community of mixed nationalities and cultures. The permanent summer weather and leisure activities, including desert safaris, diving and golf, make this the most popular resort in Egypt.

Nearby, on this impressive strip of the Red Sea coast, lie the stunning resorts of Sahl Hasheesh and El Gouna. Both exclusive destinations offering residents and tourists fantastic views of the desert and mountains. At the heart of the El Gouna Resort with its natural lagoons is the Abu Tig Marina, the most luxurious harbour on the Red Sea. The harbout is designed around the spectacular El Gouna Golf Club, an 18 hole, PGA professional golf course.

The Red Sea Riviera has two seasons: a hot summer, which runs from May to October, followed by a mild winter for the remaining months. The dry climate makes the area a highly desirable location at any time of the year.

The Development

Egyptian Pearl Beach Apartments

Located in the exclusive area of Magawish, in the south of Hurghada, we find Egyptian Pearl Beach Apartments; only 500 metres away from Hurghada's pearl white, sandy beaches, shopping boulevard and Intercontinental Hotel, the area provides all the facilities and amenities such as: cosmopolitan and traditional restaurants, shopping, diving and entertainment for adults and children.

Egyptian Pearl is a gated European style development offering 53 terraced apartments with communal tropical gardens, pool bar and swimming pool.

Pre Launch Apartments - Egyptian Pearl Beach Apartments

Eqyptian Pearl Apartment comprises of a total of 53 apartments:

6 studios, 10 one-bedroom professional, 25 one-bedroom luxury, 6 two-bedroom and 6 three-bedroom apartments.

A limited number of the following pre-launch properties at Egyptian Pearl are being offered at reduced prices:
Studio Apartments - 474 ft2 (44m2) : £20,900
1 Bedroom Professional - 667 ft2 (62m2) : £29,450
1 Bedroom Deluxe Apt- 786 ft2 (73m2) : £34,675
2 Bedroom Apartment - 1001 ft2 (93m2) : £44,175
3 Bedroom Apartment - 1184 ft2 (110m2) : £52,250

 Click for the total price list.

The complex will provide year round services. These are: maintenance, gardening and laundry services. The ground floor will house private facilities including a fully-equipped gymnasium, games room and internet café and business centre.

Studio and 1, 2 and 3 bedroom apartments

The internal space has been designed to disperse the beautiful natural sunlight. Open-plan kitchenettes provide owners with the maximum feeling of space within the apartment.

Egyptian Pearl finishes include:
Polished ceramic floors.
Tiling in kitchen and bathrooms.
Windows and doors installation.
Fitted wardrobes in bedrooms.
Electrical installation.
Pre-installation for digital TV platforms as well as sockets for telephone, television and data lines.
Fitted kitchen with base units, stainless steel sink, granite worktops and mixer taps.
Bathroom sanitary fittings in white porcelain (toilets, sinks & baths/showers) with mixer taps and extractor fans.
Central water heating.

Activities
Diving and watersports in the Red Sea

Known as one of the most beautiful places on earth, the Red Sea is a truly exotic and fascinating natural seascape environment. Its crystal blue surface and oasis of living creatures, reefs and coral formations, make it one of the world's most highly sought after diving locations.

Hurghada provides a gateway to the Red Sea's prime diving sites and is unique in offering access to many uninhabited offshore reefs and islands, allowing a myriad of opportunities for swimming, snorkelling, scuba and free diving. The warm waters are ideal for many varieties of rare fish and coral reefs, which can also be observed through glass bottom boats or submarines.

There are also many other excellent aquatic sports facilities enjoyed by visitors such as:
Kite surfing
Windsurfing
Sailing
Swimming with dolphins
Jeep adventures
Deep sea fishing
Boat trips on the Red Sea at dusk
Land activities in Egypt

The Red Sea Riviera offers something for everyone with an extensive range of land and leisure activities, including:
Horse riding
Camel riding
Go-karting
Sail-karting
Quad biking
Desert safaris
In addition, excursions to the Red Sea Mountains, the Eastern Desert and Bedouin camps can be arranged and visited by jeep, horses or camels.

Golf

Golf has been played in Egypt for over 100 years, and the last 10 years have seen a growth in its popularity that has made the Sinai and Red Sea coast an exceptional golf destination. The area around Hurghada boasts beautiful golf courses, such as the Golf Club at nearby El Gouna, a USPGA-sized 18-hole championship golf course designed by Gene Bates. In Soma Bay, there is the Gary Player designed The Cascades Golf Club.

Further afield, the Jolie Ville Golf Resort in Sharm El Sheikh is one of Egypt's best and most challenging golf courses and home to a number of International PGA tour events.

History
The Red Sea coast is world-renowned for its beautiful nature and historical legacy. With its combination of mountains and sea, the natural landscape of the Sinai Peninsula and mainland Egypt is awe-inspiring. Nearby are two ancient Roman sites, Mons Porphyritis and Mons Claudianus. These sites supplied the Romans with black granite columns, some of which still support the Pantheon in Rome today.

In the North lie St. Anthony's and St. Paul's. In the heart of the Red SeaMountains, St. Anthony's is the oldest Coptic monastery in Egypt and St. Paul's is famous for its murals representing Virgin & Child. Nestlingat the foot of Mount Sinai is St. Catherine's, thought to be the oldest inhabited Christian monastery in the world. Revered by Muslims, Christian and Jews, it was built fourteen hundred years ago next to where it is believed that God delivered his Ten Commandments to Moses.

The waters of the mighty Nile allowed the otherwise dry land of Egypt to become a cradle for one of the world's greatest ancient civilizations. One can travel along the Nile and explore a succession of ancient temples and tombs that are testimonies to the remarkable achievements of the people of ancient Egypt. To witness Egypt's full splendour, visit the Nile Valley and Cairo, home to the Great Pyramids, the Sphinx, the Egyptian Museum and the Citadel. The highlight of the Nile Valley is Luxor, famous for the Valley of the Kings, Valley of the Queens, the Colossi of Memnon, the Luxor Temple and further south, the Temples of Karnak. Egypt's scope is glorious and endless.

Entertainment

The Red Sea Riviera is famous for its vibrant cosmopolitan atmosphere, with an abundance of exclusive boutiques and fashionable shopping outlets, relaxed outdoor cafes, trendy chill-out bars and international restaurants. Be sure to try out the delicious pitta bread and the fresh fish, chickedn and lamb (no pork) kebabed, grilled or cooked in a tajine. Alcohol is served in western hotel bars, the mint tea always makes a healthy alternative.

At night Hurghada offers top entertainment, with leading European clubs and bars establishing venues in the area. This gateway between Africa and Asia is also a region full of contrasts. In Hurghada one can savour the flavours and vibrant colours of the East or shop for top western brands. El Dahar, the oldest part of Hurghada, is home to the town's largest bazaar where one can find the finest products Egypt has to offer: gold, jewellery, spices, brass, copperware, papyrus, perfumes, leather products, folkloric costumes, carpets, music and the famous Egyptian cotton.

In and around Hurghada
Geographical Location

The Red Sea coast stretches for more than 800 KM from the Suez Canal. Hurghada is situated south of the Sinai Peninsula, on the shores of the Red Sea coast, and east of the Eastern Desert.

Getting There

Egyptian Pearl is only 10 minutes from Hurghada International airport.
Direct weekly flights to Europe's major airports.
Flight time: 4.5 hours from the UK (Egypt Air and BA)

Munich - 4 hours
Rome - 3.5 hours.
Under 4 hours from most other major European cities.

Additional Info
Currency

The basic unit of currency is the Egyptian Pound EGP (E£) divided into 100 piastres (pt). The exchange rate stands at 1 GBP = 11,20 EGP*
*correct at time of writing. Rate may change

Language

Arabic is Egypt's official language. Most Egyptians speak and understand English and French.

Calling Egypt

The international dialing code for Egypt is: + 20

Inspection Trips

Jet2Let arrange your trip to the properties and provide a wealth of information regarding the location, development and property options. Contact us for details.

A list of Legal advisors work on behalf of our clients to oversee the entire purchasing process, offering help and advice on mortgage issues, providing power of attorney and finalising contracts are available. Contact us for details.

Payment Plan/Buying Information
£1,000 reservation deposit deducted off initial payment
40% - Within 21 days
60% - On completion.

First 25 units sold on 10% 10% 10% 10% 60% plan

Buying Costs

Registration and Legal Fees £995

Maintenance and Running Costs

£500 per annum for a studio.
£600 per annum for a one-bedroom.
£700 per annum for a 2/3 bedroom.

Annual Real Estate Tax: £50 (500 EGP).

There is no VAT, no Government tax, no inheritance tax Property is Freehold. Property can be sold on at anytime

Mortgages

A capital and repayment type mortgage, subject-to-status, on 60% of the purchase price is available at 7.9% flat rate for a maximum period of 10 years.

FAQs

1. Where is the Egyptian Pearl Apartment Resort?

The Egyptian Pearl resort can be found near the shores of the Red Sea in the exclusive area of Magawish, in the south of Hurghada, Egypt. About 15 km south of El Gouna.

2. How many properties will there be at Egyptian Pearl?

This resort will comprise 53 units. There will be 6 studios, 10 one-bedroom professional, 25 one-bedroom luxury, 6 two-bedroom and 6 three-bedroom apartments.

3. Are the properties freehold or leasehold?

All the properties are freehold.

4. Who is developing Egyptian Pearl?

The partnership of Worldwide Destinations and El Riad.

5. Has the developer got land title?

Yes, the developer has full legal title to the land.

6. When will construction begin?

Construction has already started.

7. When will the property be completed?

Construction is due to be completed Winter 2008.

8. What are the payment terms on the property?

Pre-launch prices start at £20,630. Payment plan of 40% initial deposit and a final 60% upon completion, paid with either an arranged mortgage (subject to status) or cash.

9. Is there a pre-launch special offer?

Yes. The first 25 units reserved can benefit from a flexible payment plan of 10%, 10%, 10%, 10% with final payment of 60%.

11. Can the properties be bought in a company name?

No, not at this time.

12. Can you inform me of a legal firm that could help me?

Lifetime Lawyer on

Freephone:  +44 (0)8000 320 966

FAX:               +44 (0)1480 450876  or 

United Lawyers:            

Phone: +2 010 1138400       

FAX:      +2 065 346 20 71/72

13. Are mortgages available?

Yes, a capital + repayment type mortgage, subject-to-status, on 60% of the purchase price is available at 7.9% flat rate for a maximum period of 10 years.

14. What is the name of the bank handling the mortgage?

TBA

15. What is the yearly maintenance fee?

£500 per annum for a studio.
£600 per annum for a one-bedroom.
£700 per annum for a 2/3 bedroom.

16. Is there a builder's warranty on new build, if so how long?

Yes, warranties for new build are for one year.

17. What type of running costs should the client expect?

Apart from the annual Real Estate Tax of EGP 500 (approx. GBP 50) and the annual maintenance fee of £500, there will be utility (water + electricity) charges substantially lower than by European comparison.

18. What is the construction of the building?

The foundation of the building is reinforced concrete. The construction is of brick.

19. Will there be a rental pool?

Yes.

20. How long is the rental season?

12 months.

What is the European Design and Finish?

The European design includes: polished ceramic floors, tiling in kitchen and bathrooms. Windows and doors installation. Fitted wardrobes in bedrooms. Electrical installation. Pre-installation for digital TV platforms as well as sockets for telephone, television and data lines. Fitted kitchen with base units, stainless steel sink, granite worktops and mixer taps. Bathroom sanitary fittings in white porcelain (toilets, sinks and baths/showers) with mixer taps and extractor fans. Central water heating.

22. Are the properties sold fully furnished?

Furniture and kitchen appliances are not included in the sale price, but will be available as furniture packages.

23. What are the purchase costs?

Registration of the unit and lawyer fees will be approximately £995 all in.

24. Is there a Real Estate Tax?

There is an annual Real Estate Tax of EGP 500 (approx. £50).

25. Is there any stamp duty?

No.

26. Is there any government tax?

No.

27. Is there any capital gains tax or VAT?

No.

28. Is there any inheritance tax?

No.

29. Can I sell my property at any time?

Yes.

30. What Licenses have been granted?

All the necessary licenses and planning permissions have been obtained. (Copies are at present being translated and will be included in the Due Diligence document).

31. What is the general overview of the area?

Where the desert meets the sea lies the capital of the Red Sea Governorate, Hurghada, a bustling town, known as Al Ghardaka in Arabic. Founded in the early 20th century as a fishing village, with over 40km of coastal resorts and spectacular beaches, the Red Sea Riviera has fast become a community of mixed nationalities and cultures. The permanent summer weather and leisure activities including desert safaris, diving and golf make this the most popular resort in Egypt.

Nearby, on this impressive strip of the Red Sea coast, lie the stunning resorts of Sahl Hasheesh and El Gouna, both exclusive destinations offering residents and tourists fantastic views of the desert and mountains. At the heart of the El Gouna Resort with its natural lagoons is the Abu Tig Marina, the most luxurious harbour on the Red Sea designed around the spectacular El Gouna Gold Club, an 18 hole PGA professional golf course.

32. What are the facilities in development, immediate and surrounding areas?

Egyptian Pearl is a gated European style development with communal gardens and swimming pool. The ground floor will house private facilities including a fully-equipped gymnasium.

33. How long are the seasons in Hurghada?

The Red Sea Riviera has two seasons; a hot summer, which runs from May to October, followed by a mild winter for the remaining months. The dry climate makes the area a highly desirable location at any time of the year.

34. How accessible is the area?

Only 10 minutes from Hurghada International Airport. Direct weekly flights to Europe's major airports. Flight time: 4.5 hours from the UK and under 4 hours from most other major European cities. Munich - 4 hours and Rome - 3.5 hours.

35. How do you get there?

There are direct flights to Hurghada airport from the UK.