The reason I buy in Resort Communities, such as El Gouna, Sahl Hasheesh etc.

[Peter Mitry]

Welcome to the forum Lila! El Gouna is a very nice place to live but from an investment standpoint large gains have already been made and future growth, whilst certainly likely, will probably be more modest.
Sahl on the other hand is at the beginning of a 15 year development programme, all governed by a Master Plan which will ensure consistent standards, no matter who actually constructs each project. All applications for building permissions have to go first to the ERC who are the owners of the land. Once approved by them they go forward to the local red sea governate for final approval.
There are so many elements within the Sahl project which will continue to add value for many years to come as each section of the jig saw falls into place. I have bought five properties in Sahl and have already sold one and doubled my money in 18 months.

Gamsha will be an enormous project too but the density of building is much greater than Sahl and its location is way too far out from Hurghada on the less attractive North Coast.

 

[crombiestone]

Welcome to the forum Lila! El Gouna is a very nice place to live but from an investment standpoint large gains have already been made and future growth, whilst certainly likely, will probably be more modest.
Sahl on the other hand is at the beginning of a 15 year development programme, all governed by a Master Plan which will ensure consistent standards, no matter who actually constructs each project. All applications for building permissions have to go first to the ERC who are the owners of the land. Once approved by them they go forward to the local red sea governate for final approval.
There are so many elements within the Sahl project which will continue to add value for many years to come as each section of the jig saw falls into place. I have bought five properties in Sahl and have already sold one and doubled my money in 18 months.

Gamsha will be an enormous project too but the density of building is much greater than Sahl and its location is way too far out from Hurghada on the less attractive North Coast.

If you need any further advice please feel free to PM me.

Laila

Please bear in mind that Peter is an agent selling in Sahl and as so his opinion is a tad biased towards it .On a development of this scale there is always a risk that all of the "jigsaw pieces" will not fall into place .

In El Gouna there is an established town which is the flagship resort of Orascom development . The owner has the money to ensure that it will remain one step ahead of the competition even at his own cost .

 

[Lsab]

In Peter's defense, he may be an agent and he may be selling in Sahl but he covers lots of others developments too. He never pushes one more the other - never pushes at all in fact. He's been brilliant with us (and others on the forum).

 

[crombiestone]

In Peter's defense, he may be an agent and he may be selling in Sahl but he covers lots of others developments too. He never pushes one more the other - never pushes at all in fact. He's been brilliant with us (and others on the forum).

He cant sell in El Gouna though so I thought I would defend it.

 

[Peter Mitry]

Just to correct the misconception Crombiestone I am in no way tied to Sahl Hasheesh nor in any way biased towards it. I am first and foremost an investor and it is where I have chosen to invest my own money .

However, the market is developing rapidly and there are always new and exciting projects coming on stream. My job is to keep abreast of the changes, evaluate the promoters and developers behind them and to come up with well researched recommendations for our clients.

The best interests of our clients are our sole consideration in whatever we recommend.

It is true we receive commissions from Developers but there is very little to choose between all of them on the amounts paid so this is not an issue. Most of our clients would agree that if we do our job well then as agents we deserve to be paid; we are also here for any issues which arise after purchase.

There seems to be a misconception amongst some members that agents are all bad; you have to judge us on our performance. I know that many of you are very happy with what we do. Some, like Neil from Rivermead, have done exceptional work for clients who are not even there's.

As the founder of the forum I recognise that I have a responsibility to remain impartial; I accept that in the early days I may have promoted my own interests but then with so few members, there was not so much to talk about.

In recent months I think that we have achieved a much better balance with a lot less cases of abuse by agent members. The decision to exclude agents as Moderators was absolutely a step in the right direction and Lyndsay, Queenie and Linda work tirelessly to keep the forum on track.

We must continue to monitor posts and particularly to request that members who later take on agency responsibilities or who in some way have 'vested interests' do not drag us back to the bad old days where we were all at each others throats because someone steps out of line with promotional posting.

The Signature line and the PM system should be enough. If what you have to say is interesting enough other members will contact you.

 

[crombiestone]

Just to correct the misconception Crombiestone I am in no way tied to Sahl Hasheesh nor in any way biased towards it. I am first and foremost an investor and it is where I have chosen to invest my own money .

However, the market is developing rapidly and there are always new and exciting projects coming on stream. My job is to keep abreast of the changes, evaluate the promoters and developers behind them and to come up with well researched recommendations for our clients.

The best interests of our clients are our sole consideration in whatever we recommend.

It is true we receive commissions from Developers but there is very little to choose between all of them on the amounts paid so this is not an issue. Most of our clients would agree that if we do our job well then as agents we deserve to be paid; we are also here for any issues which arise after purchase.

There seems to be a misconception amongst some members that agents are all bad; you have to judge us on our performance. I know that many of you are very happy with what we do. Some, like Neil from Rivermead, have done exceptional work for clients who are not even there's.

As the founder of the forum I recognise that I have a responsibility to remain impartial; I accept that in the early days I may have promoted my own interests but then with so few members, there was not so much to talk about.

In recent months I think that we have achieved a much better balance with a lot less cases of abuse by agent members. The decision to exclude agents as Moderators was absolutely a step in the right direction and Lyndsay, Queenie and Linda work tirelessly to keep the forum on track.

We must continue to monitor posts and particularly to request that members who later take on agency responsibilities or who in some way have 'vested interests' do not drag us back to the bad old days where we were all at each others throats because someone steps out of line with promotional posting.

The Signature line and the PM system should be enough. If what you have to say is interesting enough other members will contact you.

Peter

If you read my post I did not say that you were tied to Sahl but you are an agent and no matter how back handedly you do it you are using the forum to drum up business . This is not a personal attack at you ,the forum still has a heavy bias towards agents.

I only place my posts to keep a balanced view on this forum and think that I have also given some valid and proven advice as I have already gone through the buying process and am one of the few who actually own in Egypt.

I am disappointed that I always get shot down for "keeping it real"

 

[realestatemart]

He cant sell in El Gouna though so I thought I would defend it.

hi every one can sell in El Gouna if in direct contact with villas owners just you will go through ORascom procedures at the end but you can resell in El Gouna

 

[crombiestone]

hi every one can sell in El Gouna if in direct contact with villas owners just you will go through ORascom procedures at the end but you can resell in El Gouna

To quantify my statement I did mean he cant sell new off plan in El Gouna. Even resales need to be offered to Orascom first (It's in the contract ! ) .Then people can resell providing Orascom get their cut .

 

[ThomasCurtains]

Crombiestone makes a lot of sense and what I like is he isn't an agent and just tells it how it is from his viewoint - I applaud that. However the agents / developers on this site also make valid points (in most cases) apart from the sly ones pretending to be enthusiastic buyers - however even this makes for great reading and banter. Keep it up everyone its great!

 

[Lsab]

Crombiestone makes a lot of sense and what I like is he isn't an agent and just tells it how it is from his viewoint - I applaud that. However the agents / developers on this site also make valid points (in most cases) apart from the sly ones pretending to be enthusiastic buyers - however even this makes for great reading and banter. Keep it up everyone its great!

I have to agree with everything you say Thomas . We are though, really cracking down on any members advertising or soliciting for business on the forum and there's strict guidelines in place to make sure it doesn't happen. If any of the sly ones get past us, just let one of the moderators know

 

[Lila]

Welcome to the forum Lila! El Gouna is a very nice place to live but from an investment standpoint large gains have already been made and future growth, whilst certainly likely, will probably be more modest.
Sahl on the other hand is at the beginning of a 15 year development programme, all governed by a Master Plan which will ensure consistent standards, no matter who actually constructs each project. All applications for building permissions have to go first to the ERC who are the owners of the land. Once approved by them they go forward to the local red sea governate for final approval.
There are so many elements within the Sahl project which will continue to add value for many years to come as each section of the jig saw falls into place. I have bought five properties in Sahl and have already sold one and doubled my money in 18 months.

Gamsha will be an enormous project too but the density of building is much greater than Sahl and its location is way too far out from Hurghada on the less attractive North Coast.

Thank you for the kind welcome Peter! I was wondering if you know how prices compare between the two. Obviously you got in early at El Gouna. Do you know what properties are selling at now? I think that there are reasons to buy for investment and also for lifestyle and I'd be interested to see how the prices compare and whether it is substantial or not. I will be in touch again as I would love to know which Sahl projects you have brought in. Does El Gouna not still have a number of years development left in it. I saw on the forum that they are extending with some new projects coming on line.

You have definitely helped me re Gamsha, I am not hugely familiar with the area and so I will trust that as you know it so well it is probably not worth the investment.

 

[realestatemart]

Thank you for the kind welcome Peter! I was wondering if you know how prices compare between the two. Obviously you got in early at El Gouna. Do you know what properties are selling at now? I think that there are reasons to buy for investment and also for lifestyle and I'd be interested to see how the prices compare and whether it is substantial or not. I will be in touch again as I would love to know which Sahl projects you have brought in. Does El Gouna not still have a number of years development left in it. I saw on the forum that they are extending with some new projects coming on line.

You have definitely helped me re Gamsha, I am not hugely familiar with the area and so I will trust that as you know it so well it is probably not worth the investment.

Dear Lila,
I think there is some resales for some new villas in El Gouna

 

[Lila]

Great - do you know what sort of prices we are talking and where in Gouna they are?

 

[ThomasCurtains]

Great - do you know what sort of prices we are talking and where in Gouna they are?

Hi Lila,

I picked up some info about 6 months ago when I was down there. They had 2 projects selling off plan, Sabrina and Fanadir, priced between $2,000 and $3,000 sqm (yes I know what you'll be thinking!!!!). Not sure if prices have changed since then. There is also a new golf course project planned but it wasn't launched when I was there. Hope this helps! TC

 

[Jeremy Sturgess]

Hi Lila,

I picked up some info about 6 months ago when I was down there. They had 2 projects selling off plan, Sabrina and Fanadir, priced between $2,000 and $3,000 sqm (yes I know what you'll be thinking!!!!). Not sure if prices have changed since then. There is also a new golf course project planned but it wasn't launched when I was there. Hope this helps! TC

Your right TC. Last time I looked around new year at Sabina the appartments were priced at just over $2000 psm. Sabina Villas were from apprx $2300-$2600 . Fenadir aparts were from $2900 psm and Fenadir villas from $3000. West Golf Apparts were from $2300 psm. The New Marina Appartments were from $2700 psm. Apparantly some of the best units at Gouna have sold for over $3500 psm. Check with Orascom in Gouna for current prices as they may have changed by now.

The new golf project which Im involved in is not yet launched.

 

[realestatemart]

Your right TC. Last time I looked around new year at Sabina the appartments were priced at just over $2000 psm. Sabina Villas were from apprx $2300-$2600 . Fenadir aparts were from $2900 psm and Fenadir villas from $3000. West Golf Apparts were from $2300 psm. The New Marina Appartments were from $2700 psm. Apparantly some of the best units at Gouna have sold for over $3500 psm. Check with Orascom in Gouna for current prices as they may have changed by now.

The new golf project which Im involved in is not yet launched.

So jeremy Are you wking with Orascom? or what exactly ?

 

[Jeremy Sturgess]

So jeremy Are you wking with Orascom? or what exactly ?

The development company I am a partner in is developing the Ancient Sands Golf Resort at Gouna in a JV with Orascom. This is Gounas second golf project located behind the new marina and will launch soon. I also have a villa at Gouna in Phase 5 that I bought 2 years ago and will be moving into next month. Otherwise I have no other ties to them but I know them well and respect them so you can assume I am a supporter .

 

[realestatemart]

The development company I am a partner in is developing the Ancient Sands Golf Resort at Gouna in a JV with Orascom. This is Gounas second golf project located behind the new marina and will launch soon. I also have a villa at Gouna in Phase 5 that I bought 2 years ago and will be moving into next month. Otherwise I have no other ties to them but I know them well and respect them so you can assume I am a supporter .

thats is great so if we need something in El Gouna we should get in contact with you

 

[Jeremy Sturgess]

thats is great so if we need something in El Gouna we should get in contact with you

Not exactly George. I have no involvement in any of the other projects at El Gouna such as Sabina, Mansions, Fenadir, etc. For those schemes you should contact Orascom Real Estate in Gouna.

The new golf project at El Gouna, Ancient Sands Golf Resort, which is located just behind the New Marina, has not yet launched, and will have a separate sales office in the Abu Tig Marina which will probably open in June.

 

[wemyss1960]

El Gouna

Just Back from Hurghada.Never been to El Gouna before so thought I would pay a visit.Stunning place,much better than I expected.

Have bought several properties in Sahl Hasheesh for Investment - Would buy a villa in El Gouna if I was looking for residence or long stay holidays.

Hope Sahl turns out as good.

Well done to those who invested early in El Gouna.