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Sahl Hasheesh - An overview
Sahl Hasheesh is an exclusive resort set in one of the world’s most beautiful locations. Situated on the Red Sea, surrounded by majestic sand dunes, palm trees, golf courses and home to an underwater site, ‘The Sunken City’, offering unrivalled diving opportunities, Sahl Hasheesh presents itself as a unique opportunity for investment. This dynamic resort neighbours Serrenia, the world’s most spectacular and innovative resort to date, created by award-winning architects Foster and Partners. It is a luxurious development which will be home to palace residences, private villas, apartments, an exclusive 7-star hotel, designer boutiques, a 330-berth Camper & Nicholson Marina and yacht club as well as a world-class golf complex and spa. Less than five hours from the UK in one of most beautiful bays in the Red Sea, this master-planned resort has been inspired by rich Egyptian architecture and heritage. Easily accessible, it is situated just 17 km south of Hurghada International Airport between Hurghada and Safaga. Luxor and the Valley of the Kings are just 200 km away, making it an ideal base for discovering the wonders of Egypt. Egypt’s ancient heritage lives alongside a thriving economy, making it a perfect place to visit to unwind, indulge or splash out. The Red Sea Riviera, a stunning stretch of coastline, is a favourite with holidaymakers from all over the world because of its beautiful location, warm waters and proximity to all the cultural treasures of Egypt.
What is at Sahl Hasheesh?
3 golf courses
Breathtaking setting
Largest, super-yacht marina in Egypt
Unique sunken city
Major international themed hotels
Only 14%-16% build density
Cinema complex
Vast array of restaurants, bars and clubs
International shopping
Central plaza for open-air concerts and markets
250 m boardwalk out to the sea
Major development by Foster and Partners
Sahl Hasheesh company listed oon the stock exchange
Strict planning restrictions by local council
THE PEARL
The Pearl of Sahl Hasheesh has been designed by Dr. Hussien Abu Sieda, the architect responsible for the Sahl Hasheesh master plan. His vision of an intimate and luxurious retreat has resulted in perhaps the most beautiful and exclusive resort on the Red Sea’s coast. The Pearl offers and 165 apartments of varying sizes all located on 4 small islands. Each Pearl island will be made up of a formation of different types of blocks all set within beautifully landscaped gardens.
Main Points:
Only 177 units
Only development with villas
Extremely low density, intimate build
Mark Foster Health Club and Spa
6 pools including a 25 m lap pool
Lush, landscaped gardens
Elevated position
Direct access to beach
No building in front or behind
Extremely competitive launch prices
Overlooks Serrenia
Enveloped by a golf course with 24-hour security and concierge service
Business centre
Restaurant and bar
High-end finishes and specifications
Rental pool
Low maintenance costs
Properties and Prices:
15 x Studio Apartments
45 sq m
Pre-Launch Price - (£49.500)
36 x 1 Bedroom Apartments
58 sq m
Pre-Launch Price - (£64.200)
96 x 2 Bedroom Apartments
85 sq m
Pre-Launch Price - (£89.700)
18 x 3 Bedroom Apartments
110 sq m
Pre-Launch Price - €170,500 (£121.800)
11 x 3 Bedroom Villas
222 sq m on Private 500 sq m Plot
Private Swimming Pool
Pre-Launch Price - (£297.000)
Payment Terms:
Reservation Fee:
€7,000 (refundable up until allocation / presentation of final plans)
Deposit:
40% (inc initial €7,000 reservation fee) of purchase price on contract (due approx 28 days following allocation / presentation of final plans).
Financing:
60% Mortgage in place on completion.
MARK FOSTER LEISURE CLUB & SPA
Exclusive to this development!
(see photos)
Mark has chosen The Pearl to launch his first Leisure club and Spa.
Mark is better known as the fastest swimmer in the world who has held 8 world records, 6 world championships and is a four time Olympian.
FAQ's for The Pearl:
1) Where is The Pearl of Sahl Hasheesh Resort?
The Pearl resort can be found near the shores of the Red Sea, in the ultra-exclusive resort area of Sahl Hasheesh near the town of Hurghada, Egypt. About 30 km south of El Gouna.
2) Are the properties freehold or leasehold?
All the properties are freehold.
3) Who is developing The Pearl?
Worldwide Destinations are the developers of The Pearl. El-Riad is the construction company.
4) Does the developer have land title?
Yes, the developer has full legal title to the land.
5) What licenses have been granted?
All the necessary licenses and planning permissions have been obtained, and are available upon request.
6) When will construction begin?
Construction begins in January 2008.
7) When will the property be completed?
The properties will be completed in 3Q 2009.
8) What is the payment plan?
A deposit of £5,000 is required to reserve the property and is fully refundable for 21 days. A further payment, making the deposit up to 40%, is required on signing contracts. The balance is payable upon completion. The developer will offer mortgage facilities of 60%, subject to status, at an appropriate time before completion.
9) Can the properties be bought in a company name?
Yes but if bought not if bought through a company structure. Purchasers may not have mortgages on more than two Egyptian properties.
10) Are mortgages available?
Yes, a capital and repayment type mortgage is available, subject to status, on 60% of the purchase price at a rate of 1.5% above LIBOR (total approx 6.5%) for a (current) period of 10 years.
11) What is the yearly maintenance fee?
The yearly maintenance fee will be £500-£1,000 per annum dependant upon unit type.
12) Is there a builder’s warranty on new build, if so, for how long?
The builder’s guarantee is two years but the property (as all properties in Egypt) is covered by a clause in the Civil Code which gives a 10-year guarantee on the building itself (not internal finishings and fittings) from the architect and the contractor.
13) What type of running costs should the client expect?
Apart from the annual Real Estate Tax of EGP500 (approximately £50) and the annual maintenance fee, there will be utility (water and electricity) charges that are substantially lower than European comparisons.
14) How much will the building and contents insurance cost?
Approximately £100 p.a.
15) What is the construction of the building?
The foundation of the building is reinforced concrete.
16) The apartments will face southeast.
18) Will there be a rental pool?
Yes, with rental prices based on our achievable, rental-return calculations.
19) How long is the rental season?
10 months.
22) Are the properties sold fully furnished?
Furniture and kitchen appliances are not included in the sale price, but will be available as furniture packages.
23) What are the purchase costs?
Registration of the unit and lawyer fees (all closing costs) will be circa 5% of the purchase price.
24) What are the lawyer’s fees involved in the purchase of the apartment?
See question 23 above.
25) Is there a Real Estate Tax?
There is an annual Real Estate Tax of EGP500 (approximately £50).
26) Is there any Stamp Duty?
Yes, 0.6%
27) Is there any Government Tax?
No
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