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property details
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Red Sea Riviera-
Sharm El Sheikh
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Reference |
Viva Reef |
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Price (British Pound) |
From: 449150 To: 72208 |
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Type |
bedroom(s)
bathroom(s) |
| Sea View: | Yes |
|---|
| Swimming Pool: | Communal |
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| Garden: | Communal |
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| Air-Conditioning: | Yes |
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| Parking: | Yes |
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| Property Size: | 65m2 to 95m2 |
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| Plot Size: | |
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| Close To Amenities: | Yes |
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| Beach/Coastal: | Yes |
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| Golf Nearby: | Yes |
|---|
Viva Reef – Sharm El Sheikh – Red Sea
Rental management program - 40% deposit plus stage payments – Construction started January 2008 - completion in phases from March 2010 to December 2011 – prices from just 393,250 EGP – 99 year lease
Sharm El Sheikh
With its unique location in the Sinai Peninsula of Egypt, Sharm El Sheikh is considered as the meeting point between Asia and Africa and the cradle of great civilizations. With its diverse features of environment that combine together history, industry and agriculture, Sharm El Sheikh has become a huge attraction for tourists and businessmen. Sharm El Sheikh, the biggest and most important city of Sinai, lies at the southern flank of the Peninsula where the gulfs of Aqaba and Suez meet with the Red Sea.
Sharm El Sheikh, with its dramatic mountain landscape, offers a huge variety of tourist attractions including warm deep-blue seas and world-class diving, excellent beaches, golf, quad biking in the desert, an equestrian centre, ice skating and a national park.
Traveling to Sharm El Sheikh
With Sharm El Sheikh being such a popular year round tourist and conference destination there are scheduled and charter flights operating from all major UK and European airports. British Airways also will be running three direct services a week from London Gatwick starting at the end of October and other airlines regularly flying direct to Sharm El Sheikh include Easy Jet, Air France, Alitalia, BMI, Eurofly, KLM, Lufthansa, Jet2, Swiss, Egypt Air, Royal Jordanian and Thomson. The airport is located approximately 18km northeast of Sharm El Sheikh, near Ras Nasrani and is a 20 minute drive.
Viva Reef
A new 4 star hotel resort development situated in the rapidly developing area of Nabq, there are a selection of attractive and high quality one and two bedroom apartments, inclusive of air conditioning. The apartments include fitted kitchens and furniture packages are available to if required. Facilities at the resort include swimming pools, a health club, restaurants, a selection of shops and boutiques, communal rooftops with sea and mountain views and of special interest for golfers a new 18 hole championship golf course is currently under construction close to the hotel.
Completion:
• Phase 1 March 2010
• Phase 2 July 2010
• Phase 3 March 2011
• Phase 4 December 2011
The resort is located five minutes from the sandy beaches of Nabq Bay, ten minutes from the relaxing and sophisticated Soho Square and 20 minutes from the busy and vibrant area of Naama Bay.
Essential information
• Developer: Naguib Ali Elessawy first visited Sharm El Sheikh 20 years ago and immediately realised the long term potential of the area. He purchased land in prime locations and formed his own construction company building shopping malls, restaurants and beach facilities and then moved into hotels and resort developments.
• Previous developments: The Group’s development portfolio includes the following diverse projects – Mall No 11 at Naama Bay, Viva Mall on Peace Road in the Roman Theatre area; Palm Valley residential quarter; Viva Reef residential resort and hotel at Nabq Bay and the Viva Bay restaurant and entertainment complex.
• Purchase process: Pay reservation fee, the deposit and the stage payments as per schedule.
Reservation and payment schedule:
• A non refundable reservation fee of £30,000 EGP
• 40% on signing contracts
• 15% after 4 months
• 15% after 8 months
• 15% after 12 months
• 10% after 16 months
• 5% on delivery 24 months
Maintenance and service charges: An annual charge of 1% of the purchase price, reviewed annually, will cover resort maintenance and service charges including 24 hour security, all communal areas, gardening and landscaping, swimming pools, rubbish collection, satellite and dishes and on-going maintenance of utilities.
Furniture: visit www.qdsfurniture.co.uk to view the quality range of home furniture.
Rental programme: Pioneer Property will offer purchasers a rental service. Their rental team will visit the property, consider the rental market and propose a monthly rent.
Terms of this service – a rental charge of one month’s rent to be paid for a 12 month rental contract and 50% of a month’s rent for a six month rental contract.
Climate
Egypt has year long sunshine, situated in a sub-tropical region with a dry climate, hot summers and mild winters. Winter begins in November and starts to taper off by March with warmer days, but cooler nights. Temperatures rarely fall below 40F or exceed 75F. Summer begins in April / May with low humidity and temperatures in the 70sF. From June through September temperatures in the high 80s to low 100sF can be expected.
Property ownership in Egypt
The law in Egypt allows non-Egyptians to purchase property up to 4,000m2. Property larger than this will require Government approval. The South Sinai region is restricted by the Prime Minister decrees of 2005 and 2007 where purchasers, whether they are Egyptian nationals or not, cannot purchase property freehold. All contracts are set-up as a Usufruct for a period of 99 years (the right to use a gain profit from a property whose freehold is owned by another party). The contracts are signed with a proviso that if the decrees are cancelled, the contract will change to freehold contract.
Land Registry
Land Registry - the signed contract verification will cost the purchaser 5,500 EGP, in addition to this the Registry will cost up to 10% of the value of the property. All land registration documents, planning consent records, title deeds, building permits and due diligence reports are held by designated lawyers NBC Business Consultancy and are always available for viewing.
For further information on this property or other investment
properties contact us
here.
For further information on this property or other investment
properties call us on 0161 351 2160
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responsible for fluctuating currency markets, which may affect the property
prices. Property prices are subject to change without prior notice. We strongly recommend that you engage the services of an English speaking independent lawyer in all transactions.