Frequently Asked Questions
1) Who will build Oasis Marina Resort?
Oasis Marina will be built by Iraida Construction Company. The building
works are scheduled to commence in March 2008 and phase one will be
delivered 2010. The monthly website building progress reports will start
by the end of April 2008 and continue until the delivery of the whole
project. You will be able to follow the rising of the whole development
as the months go by.
2) Who has legal title of the land?
The land of Oasis Marina is owned 100% by Iraida Estate Agency. All
the necessary licenses and planning permissions have been obtained,
and are available for inspection on request.
3) What Licenses have been granted?
All the necessary licenses and planning permissions have been obtained,
and are available on request.
4) Are the properties being sold freehold
or leasehold?
All the properties are freehold.
5) When will phase one of Oasis Marina Resort
be completed?
This will be completed by 31 July 2010. Phase two will be completed
within 18 months of phase one.
6) What is the yearly maintenance fee?
The yearly maintenance fee will be GBP £800 per annum and will
be fixed for 3 years from the delivery of phase one.
7) Is there a builder’s warranty on
new build, if so how long?
Yes, warranties for the structures are for 10 years. Warranties for
individual apartments are for 12 months.
8) What type of running costs should I expect?
Apart from the annual maintenance fee of GBP £800, there will
be utility (water & electricity) charges substantially lower than
European charges. On average, including the maintenance fee, the average
apartment will spend around £1,400 per year.
9) How will the apartments be finished?
Oasis Marina Resort will be finished to high specifications. The finishing
will include polished ceramic floors, tiling in kitchen and bathrooms,
windows and doors installed, all bedrooms and living rooms will have
split unit air conditioners that have cold and heat settings, electrical
installations, pre-installation for telephone and satellite, fitted
kitchen with base units, stainless steel sink, marble worktops and mixer
taps, Bathroom sanitary fittings in white porcelain (toilets, sinks,
baths or showers) with mixer taps.
10) What is a “Standard Apartment”?
Oasis Marina Resort Standard apartments will be finished to a deluxe
European standard. The Standard finished apartment will be delivered
complete with a base fitted kitchen and air conditioners in the bedrooms
and reception/living area. You will not need to carry out any work to
be able to move into your apartment except your own furniture.
11) What is a “Turnkey Apartment”?
Oasis Marina Resort Turnkey apartments offers you the opportunity to
immediately move into your apartment. The Turnkey apartment includes
full furnishing made from top quality wood and beautiful designs; electrical
products such as t.v and satellite, cooker and washing machine. It also
contains general household goods and utensils such towels, plates, salt
and pepper shakers. Nothing is left to chance. Our standard finishing
and Turnkey finishing list are available on request.
12) What are the extra options?
The extras allow owners to personalize their apartments and also to
buy addition items and works not included in the finishing of the apartment.
13) If I decide to buy, what other payments
must I make to complete my purchase?
Your purchase price is the total money payable to buy your apartment.
14) Will I need a lawyer to purchase my apartment?
You do not need a lawyer as the Agreement and Sales Contracts are standardised
and conform to Egyptian Law. The contracts will be written in Arabic
and English and are binding on both parties. However, if you want to
instruct your own lawyer, we will be happy to work with them. If this
involves any additional costs, these must be paid by you.
15) Do I need a lawyer after I receive my
apartment?
After you receive your apartment, our legal department will prepare
all the necessary documentation for your appointment in the Notary Office.
Provided you present yourself to our legal department within 3 months
of the official delivery date, our legal department will carry out the
Court Validity Suite and install your electricity meter without any
additional cost. If you wish to register your apartment, this will also
be possible, but you will be required to pay for this process.
16) If I decide to register my apartment do
I need my own lawyer?
Registration is very popular as it confirms 100% proof of ownership.
You do not need your own lawyer as being the developers; the registration
process will be more effective if the work is carried out our in-house
lawyers. Registration in Egypt, as in most countries, attracts Government
taxes and procedures. Registration will cost £1,250 and take around
2 years to complete.
17) What happens to my apartment if I die?
If you die, your next of kin will inherit your apartment or your share
in the apartment.
18) How long are the seasons in Hurghada?
The Red Sea Rivera’s warm climate makes it an ideal destination
at any time of the year. There are two seasons: a hot summer, which
runs from May to October, followed by a mild winter for the remaining
months. Temperatures range from a minimum average of 18°C in winter,
with cool nights, to 36°C in summer, with comfortable warm nights.
19) How accessible is the area?
Flight time from the UK is 4.5 hours with scheduled weekly flights.
Charter flights from Germany are almost daily. Flights from other major
European cities include Munich 3.5 hours & Rome 3 hours.
20) How long is the rental season?
Due to the exceptionally all year round good weather, Hurghada has a
12 months rental season.
21) Is there any stamp duty?
No
24) Is there any Government Tax?
No
22) Is there any Capital Gains Tax or V.A.T?
No
23) Is there any Inheritance Tax?
No
24) Can I sell my apartment any time
after receiving it?
Yes
