OPW visited Hurghada, El Gouna, and Sahl Hasheesh in November 2008. We decided to investigate the Egyptian Red Sea resort areas of Hurghada as a result of our initial research into the Egyptian property market. Hurghada has an international airport and EasyJet commenced flying twice weekly directly from Gatwick in November 2008, setting the scene for low cost access to the all-year-round sunshine destination, featuring some of the worls finest diving and fishing.

Hurghada has developed from a small fishing village into a tourism hub. 20kms north of Hurghada is situated El Gouna, a five-star, gated and secure retreat with beautifully landscaped gardens and lagoons surrounding fantastic golfing greens. 15kms south of Hurghada is another mega project which also promises to provide affordable luxury in the form of Sahl Hasheeh, developed by ERC.

We researched several projects in Sahl Hashees, including Lana Hills, Pyramisa Beach Resort (available as hotel rental), El Andalous (almost sold out), Palm Beach Piazza (sold out), Paradise Gardens (there were some issues about building in accordance with ERC regulations), Ocean Breeze ( worrying reports about construction and issues regarding Resort Alliance, the master agents allegedely failing to listen to customers). Our conclusion was that the only safe investment opportunity at present within Sahl Hasheesh was Lana Hills, which was being constructed on time and in acordance with ERC rules. However, the overall development of Sahl Hasheesh was a very long term investment (about 20 years worth of development) and since the project was ultimately being organised by ERC, who have a website that is still under construction, we felt it was not currently the best short term place to invest at the time of writing (December 2008).

In Hurghada we looked at several projects and were most convinced with Oasis Marina, being developed by Iraida Group. Iraida have completed and handed over several projects, including Oasis Resort which is due for handover at the end of 2008, and was almost completed upon our arrival. The Oasis Marina development is really a fantastic investment opportunity, especially in the current economic climate, as the prices have not been increased in GBP terms, despite the pound sterlings 25% fall against the Egyptian Pound over the past six months. We have carried out the necessary due diligence on our part, having examined Iraida's proof of land ownership and permission to build in accordance with the TDA (Tourism Development Authority). If you wish to make an inspection trip prior to purchasing, we can have our associates from Iraida meet and greet you at the airport, as well as find suitable accomodation for your stay.

Beachfront living. 342 sq ft studios from only £20,500. 15 mins to Airport. Having thoroughly researched Hurghada in November 2008, OPW are proud to take on this project offering the best prices from a reputable developer. Iraida Group are offering up to 25% discount for full upfront payment, or a two year payment plan as well as flexible 5 year rental guarantee buy to let payment plan, which means the final 40% can be paid from rental income. EXCELLENT OPPORTUNITY TO INVEST IN AN EMERGING MARKET
Please call us for further information.