Jewel Makadi Resort is released in Hurghada, Egypt due to high demand from foreign property investors
Go Investment have unveiled the latest property investment opportunity in Hurghada, which is increasingly becoming the most sought after holiday destination in Egypt.
Hurghada is gaining major importance as a tourist destination in Egypt and is fast becoming popular among tourists who love the beaches, watersports and the year round sunshine. Industry experts predict that 2014 will see the return of the peak tourism witnessed in 2010 with 13.5 million tourists visiting Egypt. Many of these tourists are certain to be visiting Hurghada, which is now unrecognizable as the small fishing village it once was and has now grown to be the most visited destination in the whole of Egypt.
Leading airlines such as Monarch have recognized the popularity of Hurghada and have scheduled extra flight plans there for 2014. Managing director of Monarch airlines Kevin George commented “The addition of this new destination offers a wider range of quality, service and value and I am certain it will become an established favourite with our passengers.”
Many property developers are cashing in on the new wave of tourism by constructing luxury developments to entice investors, retirees and people looking for a place in the sun. Foreign investors are taking advantage of the low prices, tax benefits an interest free payment plans, which most established developers offer regardless of your credit rating.
One such developer who has noticed the high demand for new modern developments in Hurghada has already successfully completed over $5 billion worth of projects and are very experienced in knowing where the up and coming places are to invest in Egypt. They have steadily been riding the property boom for a number of years in Sharm el Sheikh and have now seen the opening in Hurghada to create a stunning 600 apartment resort and spa in an exclusive area of Hurghada which has been named the Jewel Makadi Resort and Spa.
Gareth Haldenby the director from says “When this opportunity came up we were very excited, it has been a long process from naming the hotel, deciding what facilities would suit our client base and trying to keep the properties as affordable as possible. However, we are finally there now and have now started our soft pre-launch and it is already proving very popular.”
Jewel Makadi resort is a luxury development with extensive facilities, including; a roof top pool, 3 additional pools, private beach access, restaurants, gym, spa, shops and much more. All these facilities are available at the very affordable starting price of £13,131 which can be paid over a choice of three payment options, extending over 3 years. With 75% of apartments with sea views and 90% with pool or lagoon views, the developer has ensured that investors will be spoilt for choice when choosing their apartment.
Furthermore, the weakening of the Egyptian pound in recent months has meant that it is a great time to buy for European investors, who can take advantage of this and pick up some amazing deals. An example of this can be seen with the British pound which has equated to an average of 9 EGP to the 1 GBP in the last 2 years, but since the end of 2013 has been worth as much as 11 EGP to the 1 GBP.
Ankur Khetawat an analyst at CI Capital holdings in Cairo says “the currency devaluation has been a blessing in disguise for the property market. It is the best hedge for currency devaluation, especially with the scarcity of other investment avenues.”
Namira Davies sales manager at Go Investment believes that all these factors have encouraged a really wide spectrum of buyers to Egypt with people of all ages and professions investing there. This has also been witnessed in the soft launch of the Jewel Makadi with buyers including a retired doctor, a police woman and a 21 year old first time buyer. Namira comments “We have sold hundreds of apartments in Egypt and I think the popularity stems from the affordability of apartments, the simple buying process and fantastic investment potential. We have ensured that the jewel Makadi encompasses all these things which are definitely the key ingredients to a successful project.”
Go Investment have now launched these apartments which can be purchased through them at pre-launch discounted prices from just £13,131 and can be contacted Monday to Friday at [email protected]
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