Property Select - Overseas Property News

Mortgage step forward in Egypt

Mon, 6 Oct 2008 00:00:00 GMT

Although Egypt did not join the mortgage brouhaha until recently, its favourable policies, burgeoning population and the USA’s injection of money are invigorating the market for property in Egypt. The increasing prices, more structured policies and economic expansion have combined to make the Egyptian mortgage business become active. This is likely to lead to flourishing mortgage lenders and an expansion of the Egypt property market to incorporate poorer people.

The number of bond financing firms has increased from two last year to seven, and this has spurred new development. The current mortgage policies came into effect in 2001, and in 2004 the rules for Egypt property registration were also eased, which was an important development, because a structure has to be registered officially before a bond on it can be granted. The fees were also reduced and restricted to no more than LE 2,000, plus the cataloguing time for a structure was cut to 3 months from 18.

Although it has been slow to take off, the rapidly increasing price of property in Egypt, which has helped to get the mortgage sector going, will also most probably keep driving its growth for several years to come. The traditional short-term mortgages, however, are not a feasible choice for most people any more, with the runaway prices of accommodation in Egypt.

Recent foreclosures have aided the new sector by reassuring industry observers who were concerned that the new policies would fail when put to the test in court, because these default cases have been successfully prosecuted.

Mahmoud Mohieldin, Egypt’s minister of investment, said, "Those who are interested in the sector are not only interested in seeing the entry rules apply, but they also want to make sure the exit rules work. After having the legal framework, it is also important to ensure the application of the law."

Egypt kidnapping unlikely to affect tourism

Thu, 2 Oct 2008 00:00:00 GMT

Tourists visiting with the intention of purchasing property in Egypt may be having second thoughts this week. The kidnapping of tourists by a gang of masked men while on safari in the Gilf Kebir region has hit Egyptian tourism hard. Egyptian officials welcomed the five Germans, one Romanian and five Italians with flowers at the airport and took them to a military hospital for check ups before they flew home to their respective countries.

Thankfully a peaceful end to the tourist hostage crises was reached, and the booming industry was quick to point out that the kidnappers were in no way Islamic militants. 'The kidnapping is not connected to terrorist attacks that have happened in Egypt in the past years,' said Simon Kitchen. Tourism companies reported that the effect of the kidnappings so far seems mild. Indicating that soon accommodation in Egypt will be brimming with enthusiastic tourists again.

As long as you're not planning on buying remote desert property in Egypt, we are led to believe that you will be fine inside its borders. As an armed kidnapping attack in the primitive Sahara desert, a remote, lightly policed area, it is unlikely to have a broad impact on the hotel industry, Egypt property, or commercial locations such as the Red Sea resorts in the Sinai Peninsula. “I don't see the kidnapping of tourists near the Sudanese border having much impact on tourism arrivals on the Red Sea,” Kitchen said. Security Affairs expert Guido Steinberg referred to the kidnappings as a 'Saharan' phenomenon that takes place in huge open desert spaces along smuggling routes, and targets people, weapons, and drugs.

A last word of encouragement for anyone intent on purchasing Egypt property comes from one of the freed Italian tourists, who said, “This was my first visit to Egypt and I am planning to visit Egypt in the future. What has happened (the kidnapping) could happen in any other country.”

Symbolic projects at Cityscape Dubai 2008

Wed, 1 Oct 2008 00:00:00 GMT

DAMAC properties shall be showcasing its vast array of iconic developments at the 2008 Cityscape Dubai, which is the world's largest business to business real estate development and investment event that shall be held at the prestigious Dubai International Exhibition centre from the date of October 6th until October 9th. Luxury lifestyle provider DAMAC shall be using this opportunity to also showcase its amazing property in Egypt, Jordan, Saudi Arabia, Qatar and Lebanon.

DAMAC Properties shall be featuring special daily promotional offers during the course of the Cityscape Dubai show, including its specials in other regions such as its property in Egypt and Qatar at stand Nº RN/10 inside the Sheikh Rashid Hall. CEO of DAMAC Properties, Mr Peter Riddoch, pointed out that, "We will display luxurious, elegantly designed, high quality properties spread across the Middle East and the Mediterranean region. As of today we have sold our properties to customers from over 110 countries across the globe and we are looking forward to further growing our global family through this show." This is encouraging news for anyone looking to purchase accommodation in Egypt, or property anywhere else in the featured regions.

Adding more encouragement to his statement, Mr Riddoch mentioned that even though there has been a sharp slowing down of the market globally, the UAE real estate market remained firm. Mortgage lending by the UAE Central Bank had increased by 55% in the past year, revealing that investment in property in Egypt, and the other Middle Eastern regions developed in by DAMAC, are a sound financial investment at this time.

2008 has been a year of construction for DAMAC Properties, delivering business and aggressively focused construction and contract delivery to a number of its developments around Dubai, such as the Tera Del Sol in Discovery Gardens, but not excluding their development of property in Egypt and its other portfolio regions. Approximately 7 100 units are planned for 2009/10 across the GCC region.

Enhanced transparency of Egypt property market

Tue, 30 Sep 2008 00:00:00 GMT

The Jones Lang LaSalle’s latest Global Real Estate Transparency Index now ranks Egypt as 59th among the 82 countries that the property consultants analysed this year, which is a significant improvement in the rankings for Egypt. As an essential component of getting a good deal when purchasing a property in Egypt or any other emerging market, the increased transparency in the Egypt property market signifies an important improvement and should encourage potential buyers to invest there.

Stephen Smith, from Egyptian development, West Side Village, said, “Finishing 59th may not be a very elevated position but it shows a substantial and welcome improvement. The Egyptian government is doing everything it can to offer transparency for foreign buyers and is actively encouraging buyers from the UK to invest in the country’s real estate.”

Smith goes on to say that West Side Village has raised the clarity of the process of purchasing accommodation in Egypt to a standard of accessibility comparable to that which is the norm in first-world countries such as the UK. Knowing that emerging property markets are, more often than not, hindered by an excess of red tape, and that this causes confusion and delays for foreign investors wishing to purchase property overseas, they have successfully converted the purchase of an Egypt property to a transparent, easy process that will make buying a house or apartment there a painless experience.

West Side Village is a new development that comprises 687 apartment and studio properties in Egypt, situated in the town of Hurghada. The prices of these luxury properties start at about £24,950 and go as high as £76,000. The development’s pre-launch sale of its apartments sold out successfully, and just 67 apartment and studio units from the first phase remain available to buyers. The project will be completed in 2010.

Maintained buoyancy for Egyptian property market

Fri, 26 Sep 2008 00:00:00 GMT

An international property investment firm, New Smart Homes, has declared that property in Egypt is still an extremely attractive holiday destination, offering not only good property rates but also a beautiful holiday or business destination, and is still perfect for investors wanting to invest in any accommodation in Egypt, despite the recent inflation problems.

The chief executive officer for Homes Go Fast, Nick Marr, says that opportunities for investing in property in Egypt are still very good, because of the extreme low level of entry prices for property in the region. Marr says, “Property in Egypt can be acquired with little or no financing.” He then went on to say that Egypt has passed the worst part of its inflation crisis and that the inflation issues were mostly due to the high food prices.

Marr also said that there are quite a large number of things influencing Egypt’s currently increased popularity as a business and leisure destination. One of the main things influencing Egypt as an excellent travel destination is the fact that places such as Luxor, Hurghada and Alexandria are incredibly easy to gain access to, along with the fact that these areas are accessible with airlines that charge much cheaper rates than most.

Another major factor playing a part in the country’s popularity as a travel destination is the fact that the current infrastructure of the country is already excellent as Egypt has been a tourism destination for so long that the country has had plenty of time to put the required infrastructure in place, and this does not still need to be accomplished. The World Travel and Tourism Council stated that tourists wanting to spend time staying on Egypt properties should increase by 5.4% within the next ten years.

Mortgages in Egypt to be scrutinised by CBE

Tue, 23 Sep 2008 00:00:00 GMT

Last week, the Central Bank of Egypt stipulated that all mortgage companies and banks must submit more detailed reports pertaining to their financing and business methods quarterly from now on. This is in an effort to increase the level of monitoring being conducted at banks and improve risk management for financing property in Egypt.

From the end of September, banks are required to submit detailed quarterly reports to the CBE, the details of which have not been revealed. The luxury section of the Egypt property market will be under particularly close scrutiny, since sizeable loans from banking institutions often fund these kinds of units.

“It appears the CBE is concerned about the real estate market and is keeping a tight eye on developments, especially with regard to falling prices or slowing demand,” EFG-Hermes said, adding, “We believe these demands by the CBE are in line with a cautious approach to mortgage financing, which is new in Egypt and accounts for only a small portion of real estate transactions.”

Although the US economic crisis has sent the global financial industry into turmoil, last week industry analysts and insiders were optimistic about the mortgage segment of Egypt’s financial markets, and said that the more stringent attitude of Egyptian mortgage financers was to their advantage. As it stands, Egyptian banks will finance 75 to 90% of the value of a property in Egypt, and the interest rate ranges from 13 to 15%, on average, with a maximum time span of 10 to 20 years.

It is predicted that the Egypt property market will increase by 15% per year, since over a million apartments are currently unoccupied, due in part to a lack of lending schemes. Further interest rate increases by CBE, however, will force financers to raise their interest rates too, thereby making it difficult for some buyers to afford accommodation in Egypt.

Despite global credit squeeze, Egypt property market thrives

Mon, 22 Sep 2008 00:00:00 GMT

Even though the global credit crisis is taking its toll on many markets, investors are still cashing in on high property resale returns in countries like Egypt, Dubai and Morocco. Some buyers are in the market for quick resale profits, many buy a holiday or luxury accommodation to rent, while others want a long-term investment for greater profit down the line. Hurghada is a good investment property in Egypt for investors who are seeking a property for any one of these strategies.

There is an expected increase in tourism in Egypt, and particularly in this area, which shows a high potential for capital growth. According to the World Travel & Tourism Council, tourism in Egypt increased by 7.9 percent last year, and a steady growth rate is predicted up until at least 2017. Other analysts estimate that tourist numbers in Egypt will double in the next several years. This means that investing in an Egypt property like Hurghada has the potential to yield good returns.

Hurghada has grown from a quiet fishing hamlet to a bustling, popular tourist spot. It is situated on the tropical Red Sea Coast, and boasts a balmy climate, naturally beauty and a growing modern infrastructure. Investors from around the globe are flocking there on holiday, thereby making this formerly unknown destination a hot investment opportunity for those seeking to buy a property in Egypt.

Due to infancy of the market here, Egypt property prices in this area are still very reasonable. The influx of tourists and investors has caused a lot of changes in Hurghada, which is well known as an aquatic sports destination. Currently, however, the region is becoming famous for its dynamic nightlife and the number of restaurants, casinos, clubs and pubs available, as well as the excellent selection of Egypt accommodations.

Beach Resort for Sharm El Sheikh Egypt

Tue, 16 Sep 2008 00:00:00 GMT

CHI Hotels & Resorts recently announced that they have signed a management contract with the Egyptian Cyrene Tourism Investment Corporation. The contract is for the managing of two new upper class properties in Egypt, in the ever-popular Sharm El Sheikh resort. The two new hotels, the Corinthia Hotel and the Tiran Hotel, will be forming a vibrant resort to be enjoyed by anyone seeking stylish accommodation in Egypt, and will be called the Corinthia Beach Resort.

The Corinthia Hotel is set to be a five-star high-class property in Egypt and will be situated on the beautiful beach of Montazah in Sharm El Sheikh. The hotel will be open to the public in the last part of 2009 and will be home to 220 stylish suites, a club house, a full service beach, independent restaurants, and an outside swimming pool. The Tiran Hotel is going to be a four-star hotel boasting 600 rooms, including some self-catering rooms, and is set to open in the first three months of 2009. The Tiran will incorporate restaurants, outside swimming pools, entertainment, a Spa, bars, and meeting and conference facilities.

The Corinthia Beach Resort property in Egypt will offer guests a large variety of options and pricing, including bed and breakfast, room only, full board, half board, as well as rates that are fully inclusive.

The vice president of development for CHI, Paul Pisani, and the CEO of Cyrene Tourism Investment Corporation, H. Mansouri, signed the management agreement for the new properties in Egypt. Mansouri says, “CHI Hotels & Resorts' worldwide experience and excellent reputation as a multi-brand hotel operator has long preceded it in this part of the world, giving us the necessary confidence to entrust our multi-million dollar project to a very safe pair of hands, with a proven international track record. With the completion of these two hotels, Cyrene Group hotel capacity will reach some 2,200 guestrooms and suites.”

Iraqis not happy in Egypt

Mon, 15 Sep 2008 00:00:00 GMT

Of the more than 120,000 Iraqis currently residing on various properties in Egypt, many say that they are not happy in Egypt and do not feel that the locals want them in the country. Most of these Iraqis fled from their own country over three years ago, but although a large number are incredibly unhappy in Egypt, they are not all that keen on returning to their own country.

A few thousand Iraqis have chosen accommodation in Egypt’s “New Baghdad” as their new home, which is located 20 kilometres from Cairo. One family currently renting a low-budget property in Egypt in the region has been in Egypt since 2006, having fled their home when the issues between Shias and Sunni became more violent than it already was. The father, Abdel Khedr Abdullah Jawad, says, “I wish I could go back home, but the security situation is still not good; electricity and water are not available all the time, and prices are very high.”

Despite the complaints of being unhappy in Egypt, the amount of Iraqis permanently living on properties in Egypt has increased from around 800 in 2003 to 120,000 registered with the Iraqi Embassy in Egypt, plus 10,600 that the United Nations has registered as refugees, in 2008. This is surprising considering the complaints Iraqis make, however, 56-year-old Mr Jawad, otherwise known as Abu Mohammed, says, “I chose Egypt because I’d never visited it and had heard it’s cheap and that they like Iraqis. But I discovered that Egyptians don’t like us to come work here; they consider us taking away work from them.”

The government is trying to encourage Iraqis currently living on property in Egypt to come home, to the extent that the government recently arranged two airplanes to transport Iraqis who want to come home but can not afford to purchase a plane ticket. However, due to the uncertain situation with their home country, too many Iraqis are afraid to accept the offer to return home.

Guaranteed paradise in Egypt

Thu, 11 Sep 2008 00:00:00 GMT

The latest resort property in Egypt, the Paradise Gardens Golf and Beach resort, situated in Sahl Hasheesh in between the fairways of a brand new golf course and the largest Sahl Hasheesh beach, is set to raise the standards for the property market in Egypt.

The new Paradise Gardens Golf and Beach resort property in Egypt has been developed by one of the biggest chains of hotels in Egypt, and is set to have a large selection of 350 stunning new units. Those seeking accommodation in Egypt will have a variety to choose from, including studio apartments, townhouses with either three or four bedrooms, and standard apartments with either one bedroom, two bedrooms, or three bedrooms.

Planned for location directly next door to the new five-star resort is a new golf course with 18 holes, with another three planned for the near future, perfect for any lover of the sport. Those who invest in property in Egypt and other choice regions around the globe know that the location of any given property is of the utmost importance, and the Paradise Gardens Gold and Beach resort is said to be situated in one of the best locations in the region.

The location of this attractive property in Egypt is perfect. The resort is situated in a high class area of the region, and is accessed easily and quickly, with the Hurghada airport a mere 30 minutes or less away, to which direct flights are available from most major airports in the United Kingdom. These two things on their own make this resort an excellent investment for any investor, and an equally excellent holiday destination. Over and above this, a number of the resort apartments have amazing views of the ocean, and a mere 80 metres away is access to the biggest beach in the resort.

Egypt: CHI Hotels & Resorts to manage Corinthia Beach Resort

Wed, 10 Sep 2008 00:00:00 GMT

Cyrene Tourism Investment Corporation of Egypt and CHI Hotels & Resorts have announced that they have signed a management agreement to manage two recently launched high-end Egypt properties in the fashionable Sharm el Sheikh resort. The hotels are to become part of a new holiday resort that will be called the Corinthia Beach Resort. This luxury Egypt property, situated on a lovely beachfront in Montazah, Sharm El Sheikh, will boast 5 stars.

The Corinthia Hotel, which is due to be launched towards the end of 2009, will have 220 luxury suites, independently managed restaurants, an outdoor pool, beach service and clubhouse. The Tiran Island Hotel is going to have 600 rooms, and will be a 4-star establishment with a variety of luxurious residential suites, guest rooms and self-catering apartments that will provide ideal family holiday accommodation in Egypt. This hotel is due to open its doors to the public at the beginning of 2009, and will have a selection of top-class restaurants, a spa, outdoor pools, bars and entertainment, as well as conference rooms.

The Corinthia Beach Resort property in Egypt will also offer a selection of pricing options to suit every pocket, which include fully inclusive board, half board, bed and breakfast and even room only.

H Mansouri, chairman and CEO of Cyrene Tourism Investment Corporation of Egypt, the company that owns the resort, signed the management agreement for these two properties in Egypt with Paul Pisani, vice president development of CHI. Mansouri expressed his pleasure at joining forces with CHI on this venture, thereby enjoying the benefits of a management company with an excellent track record in the running of 5-star hotels internationally. He said that he was confident that he had entrusted the multi-million dollar project to safe hands.

Marsa Alam resort in Egypt for First Choice

Tue, 9 Sep 2008 00:00:00 GMT

Marsa Alam resort properties in Egypt are unknown to most visitors to the region, but have now been given some exposure due to the operator First Choice introducing this charming accommodation in Egypt for the coming summer season. In the first edition of its brochure for Egypt 2009, First Choice described Marsa Alam as an “upcoming exclusive destination”, at the same time introducing Makadi, which is 35 kilometres from Hurghada.

Other than the four-sun Dreams Beach resort in Marsa Alam being featured by First Choice for the coming summer, the premier resort Iberotel Makadi Saraya Resort in Makadi, a four-plus sun resort, will also be featured. Rates for a seven-night stay, from June 2009, at the Marsa Alam resort property in Egypt start at only £549 for each adult staying, and £299 for each child staying at the resort.

Rebecca Hamshaw, a product manager from Egypt, says that First Choice has a brochure devoted entirely to holiday property in Egypt, which draws attention to Egypt as a tourist destination, and that this is the first time that the Marsa Alam resort has been highlighted in the brochure. Hamshaw goes on to say that: “The brochure also features the ever popular resorts of Luxor, Sharm-el-Sheikh, Taba, Hurghada and El Gouna and offers a range of twin and multi-centre options to really make the most of guests’ time in Egypt.”

Hamshaw also says that in addition, First Choice flies to Egypt from numerous airports in the United Kingdom, which makes holiday properties in Egypt incredibly easy to gain access to. First Choice has also published a second edition brochure, Tropical 2009, where well over 190 properties in various locations are brought to light, including the safari lodge Taita Hills Retreat in Kenya.

Lethal rockslide in Egypt blamed on government

Mon, 8 Sep 2008 00:00:00 GMT

The Egyptian opposition party has laid the blame for the rockslide that crushed 23 or more people and reduced around 35 homes to rubble on the government. Massive boulders, some of which weighed 70 tonnes or more, broke off the Al-Muqattam hill and crashed into the shantytown of Manshat Na’sr on Cairo’s outskirts. This has led to hundreds being reported missing, over and above the number already known to be dead. Members of the opposition and independent parliamentarians claim that the disaster could have been avoided if this property in Egypt, which is located in a dangerous area, had been evacuated beforehand.

According to Dr. Osama Harb, an Egyptian Shoura Council member and editor of the political magazine A-Siyssa A-Dawliyya, the disaster was due to government incompetence. He said, “There’s apathy and negligence and I believe these are symptoms of the regime’s disability. These sorts of threats aren’t new. The government knew this place was dangerous but didn’t deal with the problem seriously.”

MP Abu Al-‘Izz Al-Hariri, from the A-Tagammu’ party, claims that as much as a third of Egypt property is in a state of disrepair, and in danger of crushing its occupants. He went on to add that up to 20,000 residences in Alexandra and Cairo should be evacuated before they collapse. The government states that evacuation notices have been issued, but residents keep rejecting them, to which Al-Hariri replied that the reason for this is that there is no other housing offered, and these people cannot afford to even rent another Egypt property, let alone buy one.

The affected neighbourhood is used as accommodation in Egypt for people who come to Cairo in search of employment and are forced to live in this impoverished area because of the high cost of renting or buying a property in Egypt.

Will property in Egypt continue to be a good investment?

Thu, 4 Sep 2008 00:00:00 GMT

Due to the fact that the Egypt property market has managed to avoid the hype that has been inflating property prices in places like Bulgaria or Dubai, it may be the only place where investors can enjoy a good return on their investment. In addition, foreign retirement home or holiday apartment buyers are still able to find property in Egypt for a far more reasonable price, a bargain when compared to other countries. Only since 2005 has Egypt even been considered as an investment destination for overseas buyers, and this has contributed to its avoiding the drastic downturns seen in some other property markets.

Egypt has many factors in its favour, and although it is not the first place that springs to mind when investors start looking for a good buy overseas, it is within a reasonable flying time from UK and Europe, and boasts many natural attractions, not least of which are the pyramids. A property in Egypt has much to offer, and the country is far more diverse in its landscapes than Dubai, which has nothing beyond its city limits except sand. In Egypt, there are the Mediterranean holiday resorts like El Alamein and Alexandria and the lovely Red Sea venues such as Mangroovy Beach and El Gourna.

When compared to the property markets in several other countries, the price of accommodation in Egypt has remained stable and affordable, and investments there are expected to see an annual capital growth in the region of 20%. There is also no tax or stamp duty on an Egypt property, which increases its appeal to investors and potential return on investment considerably. It is one of the few places left in the world where a beachfront property can still be bought for a little more than £30,000.

Too many units for Egyptian housing proposal?

Wed, 3 Sep 2008 00:00:00 GMT

A proposed development for residential property in Egypt has come up against opposition from residents in the neighbouring Mason Valley, which is a little to the north of the proposed housing development in Mason Road. Residents say that the town is benefitting the housing developer, a Brighton company called Pride Mark Homes Inc., by spot zoning. The company intends on building a new nursing home with 60 units and separate living amenities, including over 100 homes, on the 40 acres of land that surrounds the fire station in Egypt.

Mike and Kim Colton are distributing a petition that opposes the development of this new project for property in Egypt, because the couple feel that the amount of units proposed for the development will be too many for the size of the land it’s due to be built on. The couple are of the opinion that the land would be better used for homes for single families, and are worried that more than 100 families moving into the area will cause major problems with traffic, both pedestrian and vehicles, and that there will be issues with the amount of noise from the new development, that will end up decreasing the value of their current homes.

Jim Brasley, the Planning Board chairman, says that it’s in the hands of the Town Board whether or not Pride Mark will be allowed to go ahead with the designing of the proposed development of this new property in Egypt. Bradley says that the development proposal follows the town’s plans with regards to housing variety and that if the development for the new accommodation in Egypt goes ahead, it would not be the first occasion that such a development had been constructed. Bradley also said that no such development in the past has had a negative impact on the value of the neighbouring properties.

Affordable houses available in Egypt

Tue, 2 Sep 2008 00:00:00 GMT

For foreign investors who may be looking for a good overseas investment, considering a property in Egypt could be a very profitable idea to contemplate. According to analysts from Amberlamb, Egypt offers lower property prices than most emerging markets, and is therefore better value for money. Overseas property investors can purchase a house in Sharm el-Sheikh for a very reasonable price, even as low as £120,000. Analysts have touted the Egypt market, relatively untapped by foreign investors, as a “highly affordable” market.

According to Andrew Williamson, Amberlamb’s spokesperson, this is in part due to the lack of publicity in the media that property in Egypt has received, compared to alternative investment markets such as Dubai, Abu Dhabi or other UAE countries. More media attention could spark a wave of interest in Egypt property and push up house prices there, however. Mr Williamson said, "Egypt has significant advantages for many would-be property owners. Properties are highly affordable [and] the flight time is a very respectable five hours."

In recent times, Egypt property has been attracting growing interest from those investors seeking to buy a second home, a holiday home or holiday rental accommodation in Egypt. More people buying houses and land there will affect the price of houses in Egypt and fuel growth in this as yet little-known market.

This makes it an even more attractive option for foreign investors looking for a quick profit on property, who, if they buy now at the reasonable prices on offer, may very well sell within a few months at a substantial profit, due to the increase of property prices once the market becomes better known. This is leading to a growing interest in Egypt as an investment destination, with its potential for a major property boom in the near future.

New residential properties launched in Egypt

Mon, 1 Sep 2008 00:00:00 GMT

Emaar Properties PJSC, based in Dubai, together in partnership with Armani, are set to launch a series of elite new residential property in Egypt. The new properties in the region will form part of the Armani Residences development in Marassi, which is Emaar Properties’ very first resort type development for property in Egypt.

The new Armani Residences development will form an important part of Marassi, another major development for properties on Egypt. Marassi is a Dh6.39 billion development community, set in motion by Emaar Misr, a completely owned country subsidiary of a major real estate developer in Dubai.

The chairman of Emaar Properties, Mohamed Ali Alabbar, said that the Armani Residences development in Marassi merges the advantages of the awesome location of the resort along with the most refined and elegant home designs in the entire world. The chairman goes on to say, “Sidi Abdel Rahman Bay is a historic Mediterranean beach destination where Emaar Misr, through Marassi, is bringing in a new lifestyle.”

It would seem as if the new resort development in Egypt, Armani Residences, is therefore perfect for those seeking attractive, stylish and upper-class accommodation in Egypt, especially considering that the development will cover 1,544 acres and can be enjoyed during any season due to the weather being perfect all year round on the North Coast. The new property in Egypt will be gated and have fantastic leisure facilities such as a town centre, beach resort, golf course, marina and a number of hotels, lagoons and vegetation.

These new residential properties in Egypt will be situated on the Sidj Abdel Rahman Bay and will boast a combo of three-bedroom villas, four-bedroom villas and stacked villas, all of which will offer an incredible sea view as they will face onto the Mediterranean Sea.

Egypt Property a Good Investment

Fri, 29 Aug 2008 00:00:00 GMT

As the value of the euro increases against the weakening pound sterling, investors are looking outside the Euro-zone for property investments. UK investors have found that property in the Euro-zone is becoming too expensive with the weakening pound. In addition, UK holidaymakers are less inclined to travel to countries inside the Euro-zone, due to the hefty expenses they now incur there. Therefore, potential investors who wish to buy property to be used as holiday accommodations are considering property in Egypt, as well as real estate in countries like the UAE, for future purchases at lower prices and that will be more popular with tourists seeking better value for their pounds.

Egypt is one of several destinations that are serviced by regular, inexpensive flights, and is within five hours of London, making it an increasingly popular destination for cash-strapped Brits. This makes property in Egypt an excellent investment. Sales and marketing director of Egyptian property developer West Side Village, Stephen Smith, said, "Investors would be wise to seek destinations outside the zone, where they will be more likely to afford quality investment properties in good locations, maximising their rental opportunities.”

According to Smith, the fact that UK property prices are falling makes this an ideal time to break into new markets overseas that are offering potential capital increases and large profits, such as property in Egypt. He recommends that potential investors should do their research thoroughly when it comes to currency exchange fluctuations, tourist numbers, tax laws and possible growth rates. He also feels that it’s a wise choice to find suitable Egypt property when looking for a good investment that will bring in a maximum rental return.

An Egypt accommodation investment comes highly recommended, since it fits so many excellent criteria for a top-class return, such as year-round sunny weather and 0% inheritance and capital gains taxes.

Egypt Added to Address Portfolio

Thu, 28 Aug 2008 00:00:00 GMT

As its first development outside the UAE, Emaar Hospitality Group plans to open its next new hotel on a property in Egypt. The Address, which will be located in Uptown Cairo, is scheduled to open in 2011 and looks to be a flagship hotel in Uptown Cairo’s US $2.1 billion development. Emaar Hospitality Group is building the 200 room Egypt property, which also has a further 300 hundred serviced apartments, for Development SAE. According to Marc Dardenne, Emaar Hospitality’s chief executive, The Address Hotels and Resorts will be a ‘global brand’, and he went on to say that Emaar would be demonstrating its ability to offer top-class hotel services to the international market.

Patrick Heuze, the Emaar group’s senior corporate director of development and operations, said, “The management contract for opening an Address property in Uptown Cairo is part of our ongoing strategy of international expansion. This also reflects our corporate philosophy of growing in tandem with Emaar Properties internationally, as it fits with Emaar's vision to develop integrated lifestyle communities.”

The Address hotel brand’s first three accommodation establishments are due to be opened in Dubai towards the end of 2008. The new Address hotels will also showcase Emaar Hospitality’s new set of procedures and standards that make up the ‘Passion Plus’ brand of service excellence, which is designed to heighten the experience of the guests that stay at this Egypt accommodation, and which was designed with the aid of Guest Best consultants.

Dardenne also commented that the most important factor in managing and owning hospitality property in Egypt, or anywhere else in the world, is delivering the best quality service to its guests. He believes that ‘Passion Plus’ will turn out to be a major contributor in assuring that service standards at the new Egypt property will be of the best international quality.

Flagship Address Hotel for Egypt

Tue, 26 Aug 2008 00:00:00 GMT

The Address hotels have thus far been limited to the United Arab Emirates, but Emaar Hospitality Group recently announced that Uptown Cairo would be boasting an Address hotel in Egypt, adding to the existing property in Egypt, by the year 2011. This new accommodation in Egypt will have 300 apartments and 200 rooms, and will be constructed by Emaar Misr on behalf of Development SAE.

The chief executive of Emaar Hospitality Group, Marc Dardenne, says that the Address Hotels and Resorts are a global brand, and goes on to say that because the company is managing the first global property in Egypt for Address hotels, it is highlighting its ability to provide world-class services in the international hospitality markets. Patrick Heuze, the senior corporate director of development and operations for the company, says, “The management contract for opening an Address property in Uptown Cairo is part of our ongoing strategy of international expansion.”

The first three Address properties are planned to open their doors during late 2008 in Dubai, and the Emaar Hospitality Group has also stated that it will be introducing certain procedures and standards in order to “enhance the guest experience” at the company’s properties in Egypt and around the world. These procedures and standards, dubbed “Passion Plus” were developed together with the Guest Best consultancy company.

Dardene says that obtaining concrete service and quality levels is vital to companies that own and manage properties, in Egypt and other places, that are focused on benefits. He goes on to say that this is one of the distinctive selling plans that Emaar Hospitality Group practices. Dardenne then says, “Passion Plus will be one of our key drivers in accrediting all our properties to the highest international standards in quality certification.”

Urbanisation Challenge for Bedouin in Egypt

Mon, 25 Aug 2008 00:00:00 GMT

With property in Egypt booming, urban sprawl is spreading up the North Coast and encroaching on traditional Bedouin land. Urban expansion is taking place so rapidly now that some Bedouin tribes, such as the Arab Gharb, who are descended from the Awlad Ali and El Jeimii tribes, originally from the Arabian Peninsula, are finding their culture under threat of being swallowed up by modernisation.

Today’s Bedouin youth, who follow their traditions and have no Western education to ease them into modern life, are facing the harsh reality that the land of their forefathers, which they rely upon for their livelihood, is being sold off to wealthy investors by the government, which claims that it is public property. Demand is on the rise, and developers are snapping up property in Egypt on which to build beach resorts, factories and housing that the poorer Bedouin families can’t afford to buy.

Wealthy Bedouin, some of whom have the dubious reputation of having amassed their wealth through drug-trafficking and selling land, are cashing in on the rising price of Egypt property to line their pockets, while the government pays no heed to the claims of Bedouin who hold deeds that are hand-written and not officially registered. The increasing need for accommodation in Egypt seems set to ensure that the once-common site of Bedouin tents and palm orchards will soon become a rarity, as modern housing replaces these picturesque areas with rows of low cost houses.

The spread of urbanisation is forcing the former tent-dwellers into the modern age against their will, and most are reluctant to face the fact that the desert no longer belongs to them. Only a few realised the true worth of their Egypt property in time to make a profit out of selling it, while for most the loss of their land has only added to their squalor.

Can Egypt sustain its high potential?

Thu, 21 Aug 2008 00:00:00 GMT

When taking a look at the existing property in Egypt that is available, a number of reasons add to the fact that Egypt seems to not be amongst the property markets going through major declines. Other major destinations for international property investment, such as Dubai and Bulgaria, did extremely well under the hype. The stunning accommodation in Egypt only slowly began to become known at a later stage, and only started to have an influence in the year 2005.

As a general rule, Egypt wasn’t thought of in the past when looking for a home, and not many people would have contemplated investing in property in Egypt. With general false impressions about Egypt rife, many are not aware of the great beauty and many attractions that this country has to offer, and often find themselves flying over Egypt without a second thought, en route to an overpriced Dubai.

However, property in Egypt should be strongly considered for investment opportunities. The region’s natural beauty flourishes, and there are numerous contrasts across the country, from the majestical Red Sea Resorts at Mangroovy Beach and El Gourna to the many stunning Mediterranean resorts. Another selling point for Egypt is that the flight from the UK is a relatively short one, making it a perfect destination for retirement or holiday and business alike.

Yet another reason for UK buyers to consider investing in property in Egypt is the very reasonable pricing of the properties. Properties are sold in sterling, so there is absolutely no chance of being unpleasantly surprised at a later stage, which has unfortunately been the case in many instances lately as that the Euro is much stronger than the pound. Then there is the fact that Egypt has no stamp duty as well as no property taxes, which means that buyers have an excellent opportunity to get back excellent returns on their purchased property investment.

New Flights to Hurghada, Hotspot in Egypt

Tue, 19 Aug 2008 00:00:00 GMT

Flyglobespan, a low fare cost effective Scots airline, now boasts with direct flights between the much sought after resort of Hurghada offering accommodation at lovely properties in Egypt and Glasgow. Chairman of Flyglobenspan, Tom Dalrymple, says: "We are delighted to be launching another direct flight from Scotland to Egypt. The success of the Sharm el Sheikh - which began as a winter destination only, but proved so popular it soon became one of our year-round destinations and was definitely a contributing factor in this decision. I'm confident that Hurghada, with its sandy beaches, great climate and world-class hotels, will be a great success, attracting a mix of families, couples and dive enthusiasts."

Weekly flights are soon to be offered between the popular resort of Sharm el Sheikh and tickets are currently being sold sale. These flights will be starting in early November, and costing of fares ranging from 120 pounds one-way. The managing director of Glasgow Airport, Gordon Dewar, says: "Egypt is proving increasingly popular with Scottish holidaymakers. Its culture, history and landscape make it a quite unique holiday experience, and visitor numbers have been growing consistently."

Additionally Rick Green, Flyglobespan chief executive, says: "Our summer programme is well ahead of budgets and I have every confidence that our winter programme will prove to be just as successful". Property in Egypt can only profit by the increase of flights to a weekly basis, by boasting the need for accommodation in Egypt, and is becoming an increasingly popular holiday destination with more and more countries throughout the world, by also offering affordability, it also makes it more accessible to a wider range in the market. With the help of this mutually beneficial relationship, properties in Egypt as popular holiday destinations will continue to flourish.

Increasing Tourism to Egypt Causing Property Investment Boom

Fri, 15 Aug 2008 00:00:00 GMT

Egypt is currently experiencing a vast increase in tourism, according to the World Travel & Tourism Council (WTTC) and the World Tourism Organisation (WTO). This is the main factor in the surge in Egypt property investment and development. New tourist industries, in the form of travel and tour operators and airlines, are springing up to cope with the influx, and this is fuelling the growing trend of investors to buy property there.

Egypt is using real estate and tourism to expand its economy, and the burgeoning tourist industry is aiding in this endeavour. The growing demand for short-term rentals and holiday houses makes investing in Egypt property an attractive option. Another factor adding its weight to this trend is the increasing realisation that Egypt is one of the closest destinations to Europe and Britain that has a hot climate and year round sun, ideal for holiday homes and properties for retired people.

The United Nations World Tourism Organisation (WTO) has released a report showing that Egyptian tourism figures have risen by twenty percent from last year. In addition, tourism in Egypt is on track to grow by seven percent annually over the next ten years, and the tourism minister intends to draw fourteen million tourists to Egypt’s shores by 2011, thereby further increasing the need for Egypt accommodation.

Facilitating this amazing growth is the fact that Egypt has a plethora of attractions, such as its balmy climate, gorgeous white sand beaches, an amazing historical heritage and unique culture. This is contributing to the growing popularity of Egypt property as holiday homes and tourist rental accommodation investments.

All these factors contribute to the abundance of excellent reasons for the annual twenty-five percent capital growth currently being seen in many areas, as well as the double figure rental returns continuing as Egypt property becomes more and more attractive to investors.

Sliding global market to affect properties in Egypt?

Wed, 13 Aug 2008 00:00:00 GMT

It seems that most property markets, irrespective of the country or region, are receiving plenty of bad press lately. However, property in Egypt seems to be exempt from this negative publicity and anyone wishing to invest in overseas properties is advised to consider Egypt as it has become incredibly popular with regards to both investment opportunities as well as to tourists or those looking to retire, and property values are very reasonable compared to those in other countries.

Most international property markets, such those in Bulgaria or Dubai, have been very much in the public eye with regards to investment opportunities, but properties in Egypt have remained low-profile up until about two years ago, despite the large number of travellers seeking accommodation in Egypt. Taking into consideration that Egypt does not seem to be badly affected by the downward progression of the global market, some industry experts think that perhaps there has been good reason for Egypt avoiding the news in the past.

There is good reason, however, for properties in Egypt to continue to be highly sought after despite the global trend, and perhaps this trend is the reason for Egypt’s popularity in recent years. Egypt has a spectacular amount of natural splendor, and travellers will only take a mere five hours to arrive in Egypt, if flying from the United Kingdom, which is a considerably short flight considering the amount of time it takes to reach other popular destinations. From the Red Sea resorts to the Mediterranean resorts and more, there is so much to enjoy in Egypt that travelling from region to region can be likened to travelling to a different country.

More importantly, properties in Egypt are affordably priced and especially perfect for UK investors’ pockets. In some regions of the country beachfront apartments can be bought for a mere £30,000 �" an amount for which investors can still expect to see a capital growth of at least 20% per year.

Properties in Egypt dubbed “a good investment”

Tue, 12 Aug 2008 00:00:00 GMT

It is said by many that on an overall basis, properties in Egypt are an incredibly prudent investment for anyone who would like to own a house or flat in the area, and estate agents in Egypt are cashing in more and more due to the increased numbers of buyers and investors who are becoming aware of the value of Egyptian property. Anyone who is interested in or planning on investing in overseas properties would be interested to know that a spokesman for the property website Amberlamb, Andrew Williamson, says that the reason for Egyptian properties being in such high demand rests in the fact that Egypt has and continues to see a remarkably high degree of capital growth.

Williamson goes on to say that the region has many other benefits to anyone that is considering purchasing property in Egypt, including no stamp duty or any other type of property taxation, amongst other things. Williamson also states that because Egypt is one of the few regions in the entire world where one is able to buy a beachfront apartment for the low amount of more or less £30,000 and can be almost certain that within one year the capital growth will have reached at least 20 per cent, property prices in Egypt are steadily increasing.

Williams ends by saying that: “Unlike other property markets overseas, the Egyptian market was far later to take off and therefore isn’t showing any signs of dramatic correction in property prices, such as experienced in Spain.” Properties in Egypt that are available for rental are more likely than not to be booked out on a regular basis by those seeking accommodation in Egypt, either for business intentions or for leisure purposes, due to the healthy tourist trade in the region, says Buy Association.

Egypt property industry booming

Thu, 31 Jul 2008 00:00:00 GMT

Egypt as an economy and as an intelligent investment choice is fast becoming a force to be well reckoned with.

“Confidence in Egypt is running at an all time high, investment commitment is being made because the international community has faith in the policies and visions of the current leadership in Egypt”

The Egyptian property industry seems set for a bright future according to predictions from a recent study. The inclination towards property abroad seems set to continue with the British and Irish Buyers firmly behind the wheel.

As emerging markets (like that of Egypt) have become more accessible and foreign governments are increasingly more active in following procedures in an effort to attract inward investment, experience shows that the Egyptian government are leading the way as they tend to be more adventurous than many of their counterparts, when it comes to ensuring policies and infrastructure remain a key focal point for the government.

Pierre Cailleteau, Vice President of Egypt, has summarised Egypt’s current economic status perfectly: “evidence of a decisive break with the past is mounting �" and it is this that is creating a strong flow of international property investor interest across Egypt.”

A further study, conducted by Datamonitor has predicted that ownership is set to almost double over the next five years.

According to Nicholas Marr, (CEO, Overseas Property Portal: Homesgofast.com), “Buying overseas property is a life long goal for many buyers.”

This combined with the fact that overseas property investors are seeking better growth and cheaper property prices, allows one to see more clearly why property in Egypt is so attractive.

Moody’s Investors Service recently released a report, analysing and receiving the economic status of Egypt, comprehensively. The finding of this report collates with independent research conducted by the Institute of International Finance �" it was found that “Egypt’s performance reveals an overall positive economic outlook emerging which is good for Egypt’s property sector.”

What is interesting to note is the fact that investors are pouring in regardless of the fact that they will only see positive returns within the next decade or so…

This is highlighted by property experts, Amberlamb, “foreign direct
investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

Overseas property buyers cross all types of people and income groups. The age of our buyers are now getting younger with a larger percentage of 20- 30 year olds seeking property abroad than 3 years ago’

Given the rate of growth that Egypt has been experiencing, it is safe to conclude that the growth will continue to affect Egyptian life as we know it, and affect it positively.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

All you need to know about Hurghada, Egypt

Thu, 31 Jul 2008 00:00:00 GMT

Renowned for its pristine quality of service and style, and as an adobe for tourists, Hurghada has a preceding reputation of quality versus quantity.

Hurghada, also known as ‘Al Ghardagah’ by locals, is an Egyptian city and a popular tourist city.

Due to the fact that Hurghada is situated along the shores of the Red Sea, almost all developments are inevitably beachfront properties.

Hurghada lies on a promontory projecting into the sea, some 380 km to the south-east of Cairo. Once an isolated fishing village, Hurghada emerged as a key site early in the 20th century. From the 1980s, the city has expanded and flourished, and is now the leading resort along the Red Sea Coast.

Founded in the early 20th Century, Hurghada has been on a continuous growth spiral, so much so that Hurghada is now the leading resort destination along the Red Sea.

Presently, this former fisherman’s village hosts 40 000 inhabitants. Divided into three main parts, namely: El Dahar (the old district, downtown); Sekalla (the modern district) and El Korra Road (the most modern district), Hurghada has plenty to offer its visitors and residents. For example: Sekalla is where one would find relatively modest Hotel quarters, whereas El Dahar is where one would find the town’s largest bazaar, post office and bus station.
Property markets indicate that it is possible to fetch a luxury beachfront studio apartment in Hurghada for as little as £15 000, while a fully furnished turn-key apartment will have you looking at £20 000.
Stretching approximately 40km along the Red Sea coastline and not reaching too far into the desert, Hurghada is perfectly situated to enable a guarantee of luxurious relaxation at its best.

Many of Hurghada’s beach resorts are all-inclusive, self-contained entities that satisfy the visitor’s every need and desire. Amenities include discos, bars, playgrounds, swimming pools and small theatres.
Hurghada has its own international airport that receives many charter flights every day. Hurghada is well connected to Cairo and Luxor by bus. There are also ferries to and from the Sinai Peninsula.
Minibuses seat up to a dozen people, and are probably the cheapest means of intra-city travel.

Another option is car rental. Several international rental companies are represented in Hurghada.

Within Hurghada, public transport is good. Collective service taxis operate on a wide variety of routes. They are quicker than buses, and can depart (and arrive) at any given time.

Prices are on the increase, daily �" as new developments are re-priced, on average, every quarter. The amounts of these quarterly-increases vary according to the exact locality of the development and the apartment position within the complex, but a ten per cent increase is the average quarter-hike for the best located development on the market.
Hurghada is known for its spectacular landscape, rich in canyons and mountains. The desert safari is a wonderful means of experiencing this colourful terrain. Several operators in Hurghada arrange such safaris, most of which last between 1 and 5 days. Participants may select from camels, horses, quads and 4x4 vehicles.

Hurghada Aquarium and Museum boasts a wide selection of Red Sea plants and animals. It is open from 8am to 8pm.
Remaining a popular holiday destination for residents of Cairo, the Delta and Upper Egypt, as well as gaining popularity as a package holiday destination for many European tourists (i.e. Russians, Germans, etc), Hurghada is on the rise in leaps and bounds.

Giftun Island provides a superb day outing for the whole family. Besides excellent snorkeling, one has the opportunity to view the Red Sea underworld from a submarine. The island is well populated with shops and boutiques, and there are also some interesting historical sites such as the Roman porphyry quarry remains.

El Gouna lies 20 km to the north of Hurghada. A purpose built leisure resort, it boasts a 10 km stretch of beachfront. Its water activity opportunities are excellent, and include facilities for water skiing, parasailing, snorkeling and windsurfing. For those who favour land-based activity, the 18-hole USPGA Golf Course offers a world-class game.

Safaga is slightly south of Hurghada. This port town comprises several tourist villages specializing in diving holidays, and is complete with outstanding hotels and seafood restaurants. The town’s clean sandy beaches and stiff sea breezes make it an ideal location for windsurfing.

Other nearby islands is Shaab el-Erg, Shaab Abu Ramada, Abu Minquar, Careless Reef and Shadwan Island. All offer excellent swimming and diving conditions.

Sharm El Naga is a village located 40 km south of Hurghada. Its beach boasts the most beautiful reef cliff in the region.
The Hurghada Casino, at the Hurghada International Resort and Casino, provides an alternative night on the town. Games on offer include Black Jack, Poker, Roulette and slot machines.

Hurghada is a true party town. The night clubs are concentrated along the same main street as the hotels and, although they attract mostly young people, there is entertainment enough for everyone.

Why investors are still opting for property in Egypt

Wed, 30 Jul 2008 00:00:00 GMT

Following the recent trends, one will easily see that Egypt has ensured it remain a top tourist destination �" regardless of the current economic crisis and credit crunch, experienced in the European and British cities, investors remain undeterred when it comes to property in Egypt.

Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large be attributed to the fiscal reforms the Egyptian government have committed themselves to.

Confidence in Egypt, as an emerging property market is at an all time high, due in part to the fact that the international community have faith in the policies and visions of the current Egyptian leadership.

There is a general consensus that investors consider property in Egypt, as an investment option, thanks to a “strong market in terms of excellent long term potential.”

Due to the fact that many Britons have an ‘insatiable desire’ to own property in a sunny location, the recent global economic slump has done little to suede investors from looking abroad.

In contrast to this is the fact that many other countries are currently in a position to offer good capital growth against relatively low and reasonably priced property.

Chris Nourse (Multicom Manager) went on to say that “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

A large attraction remains the projected guarantee of large rental returns for property situated holiday destinations, the likes of Egypt, Brazil, and Italy �" to name but a few countries.

This climate of positive change is extremely promising, as Egypt is bound for great success, as is aptly worded by Jennette Bradbury (Managing Director, Egyptian Experience), “We expect the Egyptian property market to grow substantially in the next few years. After many years of economic reform the area is ripe for investment. With record levels of tourism, the property market in Egypt offers excellent investment returns, from both rental yields and property price rises."

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

Recent reports also suggest that “foreign direct investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

A reflection of property in Egypt’s gaining popularity is the potential for high returns on investments, with yields being known to reach up to 11 per cent. As a result, Egyptian property prices are on the rise , however are presently still indicative of its ‘newbie’ status in the property sector, as one could expect to pay as little as £37 000 for a 2 bedroom apartment in a beachfront resort-style complex.

Egypt’s wealth of historical background, abundance of exquisite scenery, as well as Egypt’s policy of low stamp duty, death succession duty of 7 per cent, and zero capital gains tax �" translates into an unprecedented potential for positive growth.

All in all �" one is not only guaranteed safety in the knowledge that property in Egypt will only become more desirable and thus increase in property value in the years to come �" but as a hub of ancient cultural knowledge and ancient art, Egypt offers its visitors and inhabitants a plethora of little mysteries to uncover…

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Property in Egypt keeps growing in stature and popularity

Tue, 29 Jul 2008 00:00:00 GMT

The overseas property industry seems set for a bright future according to predictions from a recent study. The appetite for international property seems set to continue.
According to our sources, “Capital growth has been slow to kick off in Egypt, with static prices until late 2005. With so much new-build going up, the market is gearing up for a busy time and resale bargains could be on their way.”

Important to bear in mind is the fact that “Egypt’s property registry is out of date so check that the land your property is on is registered. Older property should already be registered but getting hold of title deeds in Egypt can take time and even prove impossible. Property is bought freehold in Egypt, except for in Sinai, which includes Sharm el Sheikh, where you buy with a 99-year leasehold.”

As emerging markets have become more accessible and foreign governments are increasingly keen to attract inward investment. The age and types of buyers seem to be changing, accordingly today’s international property buyers cross all types of people and income groups. The average age of property buyers are now getting younger with a larger percentage of 20- 30 year olds seeking property abroad.

There are many places to visit in Egypt, with developments being implemented and constructed.

Sharm el-Sheikh is located on the southern tip of Sinai, and is now a firm favourite woth investors and visitors alike. It has the feel of western Mediterranean resort and is the most expensive of the coastal destinations.

Gouna, which is built in a Nubian style (with pastel-coloured domes and arches). With the seductively named Mangroovy Beach, the marina that is formed of a maze of canals and waterfront homes joined by stone bridges, this too is quite popular with the internationals.

Further south is Hurghada, a resort traditionally popular with scuba divers. It attracts a younger crowd and is filled with nightspots, cheap bazaars and internet cafes.

Quite obviously, there is so much to see and do in Egypt, is it of little wonder why this country ahs remained on the top of tourist and investor spots for quite some time now.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments

Investors continue to opt for property in Egypt

Tue, 29 Jul 2008 00:00:00 GMT

The prospect of growth in developing markets means that property investors are becoming more adventurous in their choice of location, an investment firm has said.

According to Mr Shah’s comments, "I think with the established markets, it's never going to really die down. Even with the recent scare in the Spanish property market, I don't think it's really died down to that degree. Even in tried and tested markets, I don't think you can go wrong … You've got the security, you've got guaranteed capital growth; although it's going to be slow. It's not going to be as high as what you’d find in somewhere like … India, or Brazil, Morocco, Egypt.”

“We're finding that Morocco, Egypt and Brazil seem to be the highlights of the day at the moment … People are being quite adventurous in that respect. And capital growth is really, really good in these locations. You're looking at anywhere between ten, fifteen per cent a year," he added.

The possibility of snapping up a bargain property is drawing many foreign investors to Egypt, an expert has stated.

An estimated £4 billion of City bonuses predicted for investment in the capital's properties is now finding its way to overseas housing markets according to experts at the Homebuyer Show.

A shortage of suitable London properties is seeing investors with bonuses to spend looking overseas, new research reveals.

Most estate agents in the traditional investment area of the City and Docklands had less than ten properties for sale at any one time at the end of last year - an all time low.

This means the markets next in line for investment are likely to be Egypt, France, Spain, Bulgaria and the United States, with more adventurous investors buying homes in Barbados, Dubai and Brazil.

"These wealthy investors will be attracted to places like Egypt, where they will be able to avoid paying tax on their purchases," commented Nick Clark, (Managing Director of Homebuyer Events).

"We will also see considerable investment taking place in Europe, both in traditional countries like France and Spain as well as the emerging markets of Egypt, Poland, Bulgaria and Hungary."

Property experts in Egypt have commented how: "Over the past few months we have seen an increasing number of people, especially from the London area, wanting to buy larger more luxurious properties of two and three bedroom apartments and putting down 50 per cent or more of the property price as a deposit.”

Paul Collins, spokesperson for the BuyAssociation website, stated that the country was very popular because of the relative affordability of high-quality houses.

Commenting on the Egyptian market, he said: "Property is very, very cheap in comparison with other places where you have similar facilities and similar climates."

He added that the country's weather was also a strong draw for overseas investors, as they were "virtually guaranteed" to get hot and sunny conditions when visiting.

Other markets gaining investor interest include the Latin American country, Brazil, which appears to be more attractive thanks to good exchange rates and luxury properties from £130,000, and Dubai, which has proved popular due to the tax-free earnings it offers and the high rental yields of eight to ten per cent.

Meanwhile, tourists in Egypt are currently enjoying the opportunity to view the face of the country's former ruler King Tutankhamun.

The mummified pharaoh has been placed on public display for the first time, exactly 85 years after it was first discovered.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Investors revel in the consistency and popularity of property in Egypt

Fri, 25 Jul 2008 00:00:00 GMT

Property in ‘unusual locations’ have proved to be popular with international investors, according to TheMoveChannel.com, which has released its list of the top 10 most enquired about investment properties for the month of March.

Egypt took a top spot in this month’s chart beating out more popular markets like Canada and Cyprus. This is the third month in a row where the established markets of France, Spain and Italy have been overlooked by prospective investors.

According to a survey conducted by ‘Homes Worldwide’, they recommend the possible increase in overseas investing (especially in Egypt, Brazil, etc) is directly related to the current state of the housing market in the United Kingdom, where the mortgage rate remain on the rise, while the price of houses is steadily on the decline.

A large attraction remains the projected guarantee of large rental returns for property situated holiday destinations, the likes of Egypt, Brazil, and Italy �" to name but a few countries.

Due to the fact that many Britons have an ‘insatiable desire’ to own property in a sunny location, the recent global economic slump has done little to suede investors from looking abroad.

In contrast to this is the fact that many other countries are currently in a position to offer good capital growth against relatively low and reasonably priced property.

A further survey, done by ‘Multicom’ recently brought to light that many companies in the holiday sector have seen an increase in the number of bookings.

Chris Nourse (Multicom Manager) went on to say, “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

Chris Nourse (Multicom Manager) went on to say, “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Property in Egypt entices investors’

Thu, 24 Jul 2008 00:00:00 GMT

International investors are increasingly choosing to enter the Egyptian market, it has recently been revealed.

According to a popular property portal, Property Wire, “the African country is proving to be very popular because it offers relatively low house prices.”

Another property expert went on to say: "The country's real estate sector is growing at an estimated rate of 15 per cent annually, and residences in areas such as the Red Sea cost far less than comparable houses in Europe, with some selling for less than £50,000. Egypt also offers a favourable tax regime, as property owners are not obliged to pay stamp duty and capital gains tax.”

One can also see that clearly, “the country does require foreign nationals to pay inheritance tax if a residence is left to a relative. As a result, Egypt is becoming increasingly popular with property buyers who wish to invest overseas.”

Confidence in Egypt, as an emerging property market is at an all time high, due in part to the fact that the international communities have faith in the policies and visions of the current Egyptian leadership.
Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large is attributed to the fiscal reforms the Egyptian government have committed themselves to.

Recent reports also suggest that “foreign direct investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

There is a general consensus that investors consider property in Egypt, as an investment option, thanks to a “strong market in terms of excellent long term potential.”

This climate of positive change is extremely promising, as Egypt is bound for great success, as is aptly worded by Jennette Bradbury (Managing Director, Egyptian Experience), “We expect the Egyptian property market to grow substantially in the next few years. After many years of economic reform the area is ripe for investment. With record levels of tourism, the property market in Egypt offers excellent investment returns, from both rental yields and property price rises."

Egypt’s wealth of historical background, abundance of exquisite scenery, as well as Egypt’s policy of low stamp duty, death succession duty of 7 per cent, and zero capital gains tax �" translates into an unprecedented potential for positive growth.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Egypt excels in property sector as the economy emerges triumphant

Wed, 23 Jul 2008 00:00:00 GMT

Many investors have already seen the potential in Egypt and have witnessed the promise of a superb quality of life, having purchased a second home in Egypt, in doing so they have solidified there chance of profiting from smart investing.

Property in ‘unusual locations’ have proved to be popular with international investors, according to TheMoveChannel.com, which has released its list of the top 10 most enquired about investment properties for the month of March.

Egypt took a top spot in this month’s chart beating out more popular markets like Canada and Cyprus. This is the third month in a row where the established markets of France, Spain and Italy have been overlooked by prospective investors.

As the Egyptian government keep investing generously in the Western side of the Red Sea, in an effort to encourage more tourism, and the fact that they are developing strategies to ensure the implantation of necessary infrastructure, results in Egypt’s investors being guaranteed even better capital appreciation in the future.

Due to the fact that many Britons have an ‘insatiable desire’ to own property in a sunny location, the recent global economic slump has done little to suede investors from looking abroad.

Property in Egypt, particularly in Hurghada and Sharm El Sheikh, has seen steady property price growth over the last year. Considered one of Egypt’s newest hotspots, Hurghada is already a prime destination for investment and tourism.

According to a survey conducted by ‘Homes Worldwide’, they recommend the possible increase in overseas investing (especially in Egypt, Brazil, etc) is directly related to the current state of the housing market in the United Kingdom, where the mortgage rate remain on the rise, while the price of houses is steadily on the decline.

In contrast to this is the fact that many other countries are currently in a position to offer good capital growth against relatively low and reasonably priced property.

A further survey, done by ‘Multicom’ recently brought to light that many companies in the holiday sector have seen an increase in the number of bookings.

Chris Nourse (Multicom Manager) went on to say that “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

A large attraction remains the projected guarantee of large rental returns for property situated holiday destinations, the likes of Egypt, Brazil, and Italy �" to name but a few countries.

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

So, what makes Hurghada developments stand out from all the rest? Many developers in this quaint, former fisherman village, is the willingness to keep their developments ‘family friendly’.

In the words of Nigel Bailey (Director, Red Sea Developments): “My vision for the development is quite different to the usual developers. I would like to keep our development Red Sea Residencia small and family friendly.

What better way to spend that well needed quality time with the most important people in your life ; your family.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Egypt, its housing market and its emerging economy

Tue, 22 Jul 2008 00:00:00 GMT

Although Egypt is renowned for it’s wealth of history, world-class resorts and magnificent natural environment, this alone is not the only drawing card for property buyers, Egypt also boasts the added benefit of “low stamp duty, death succession duty of 7 per cent and no capital gains tax payable on the sale of property.”

Egypt, particularly Property in Egypt is increasing �" not only in popularity, but in pricing as well. So doing, Egypt is now reflecting some of the highest appreciation figures, globally.

Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large be attributed to the fiscal reforms the Egyptian government have committed themselves to.

Confidence in Egypt, as an emerging property market is at an all time high, due in part to the fact that the international community have faith in the policies and visions of the current Egyptian leadership.

There is a general consensus that investors consider property in Egypt, as an investment option, thanks to a “strong market in terms of excellent long term potential.”

This climate of positive change is extremely promising, as Egypt is bound for great success, as is aptly worded by Jennette Bradbury (Managing Director, Egyptian Experience), “We expect the Egyptian property market to grow substantially in the next few years. After many years of economic reform the area is ripe for investment. With record levels of tourism, the property market in Egypt offers excellent investment returns, from both rental yields and property price rises."

Recent reports also suggest that “foreign direct investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

A reflection of property in Egypt’s gaining popularity is the potential for high returns on investments, with yields being known to reach up to 11 per cent. As a result, Egyptian property prices are on the rise , however are presently still indicative of its ‘newbie’ status in the property sector, as one could expect to pay as little as £37 000 for a 2 bedroom apartment in a beachfront resort-style complex.

Egypt’s wealth of historical background, abundance of exquisite scenery, as well as Egypt’s policy of low stamp duty, death succession duty of 7 per cent, and zero capital gains tax �" translates into an unprecedented potential for positive growth.

Directly related to this is the increase in popularity, is the fact that property in Egypt remains an extremely lucrative investment, as Egypt offers “potential for high returns on investment, with rental yields sometimes reaching 11 per cent, compared with a UK average of four to six per cent.”

According to Egyptian tourist authorities, the average property price has escalated by 50 per cent over the last two years, alone.

When all is said and done, one can definitely be assured that investing in Egypt will only equate to smart investing.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

The investment potential of property in Egypt discussed

Mon, 21 Jul 2008 00:00:00 GMT

As the global community becomes more aware of the incredible investment opportunities and incentives available to investors in Egypt, interest in the investment property market in Egypt is beginning to stir up an awakening in international investors’ minds-eye.

One of the many key factors attracting international investors’ interest include ‘Egypt’s fast growing tourism sector; the fact that the government is continuing to commit to legislative initiatives designed to enhance the investment climate and the fact that property prices in Egypt remain low and affordable whilst demand for quality property for sale and short term let is increasing.’

In the coastal resort areas (on the Red and Mediterranean Sea), property investors are tasking a chance on the increasing tourist demand (for short term rental accommodation) and accordingly this market is returning the best rental yields throughout all of Egypt.

The second home resale market in these coastal resort areas is also beginning to offer to its purchasers a profit potential on the underlying capital investment made, as more international investors are seeking holiday homes or second homes in these such coastal regions.

Egypt is accessible and close at hand for European holiday makers and thus owning a holiday home in this exotic location makes absolute sense for many European travelers and tourists.

According to a popular property portal, one of the writers went on to state that: “Overall the future prospects for the property market in Egypt are positive. Egypt is a politically stable country and one currently enjoying the best relationships with many of the world’s most influential economies that it has ever enjoyed.”

As the economic climate in Egypt is open for investment and as investors are being actively encouraged by taxation breaks, low labour costs and a country that has a burgeoning middle class unlike any other country at present, investors and purchasers of property in Egypt can remain safe in the knowledge that they have a wider market to potentially profit from, at the end of the day.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Property in Egypt has never looked this good!

Fri, 18 Jul 2008 00:00:00 GMT

As we know by now, Egypt and its property sector provides to international and local investors the opportunity to cash in on many lucrative endeavours.

As is pointed out in recent media reports relating to the real estate market in this Middle Eastern country, Egypt is an undeniably amazing country, especially when it comes to its travel and tourism appeal.

Owing to the fact that Egypt has 365 days of pure sunshine; the Red Sea and it’s incredible beaches; the pyramids, all to name just a few main attractions to Egypt �" this alone ensure s the vast number of tourists into Egypt remain at a steady climb, and will not falter.

According to the Tourist Ministry in Egypt, the tourism industry is truly thriving…having risen up 20% in 2007 on 2006 levels, and still expected to increase by about 7% on average a year for the next ten years, it is of little wonder why Egypt is being targeted for inward investment, as the government seeks to stabilise and diversify its economy.

The fact that the entire emerging real estate industry in Egypt is built on tourism makes property in Egypt initially seem like a ‘no lose commodity’. Surely as tourism numbers rise and rise and rise and all these amazing developments in all these amazing resorts are built and sold, so too will those who buy be able to let out their property to the tourists coming in.

The fact that tourists still prefer hotels with all their facilities and conveniences to self-catering may indeed pose a problematic factor for some developers, but on the whole, one should not expect any decrease in the number of tourists to and from Egypt.

After all is said and done, Egypt is a potentially great place to invest in, particularly due to the fact that there are fantastic fundamentals in place to support the development of the nation economically.

Even so, it is advisable to proceed with caution when reviewing any investment opportunity, and one should do so with just a little suspicion (or rather be investment-wise and savvy!!) if you want to do the best for your money.

As British property buyers fly overhead on their way to the shopping malls of Dubai, do they realise they’re gazing down on a land with much more natural appeal, lower entry-level prices and a five-hour flight time? There’s so much more to Egypt than British buyers assume.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Property in Egypt offers financial flexibility for interested investors

Thu, 17 Jul 2008 00:00:00 GMT

Egypt’s abundance of features and opportunities and the fact that Egypt is renowned for the co-existence of historical and cultural treasures, alongside luxury resorts, gorgeous beaches and fantastic aquatic activities at your disposal �" the leap from popular holiday destination to popular investment choice for second-homers, retirees and investors was just a matter of time.

Egypt has remained a top destination choice for many varying reasons, apart from the fact that Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large be attributed to the fiscal reforms the Egyptian government have committed themselves to, it is also a well known fact that Egypt has a wealth of culture and historical background, all inclusive in the superior experience that is Egypt.

All investors looking to buy property in Egypt might be interested to learn that DAMAC Properties has struck a corporate agreement with Commercial International Bank (CIB), which will offer its customers increased financial flexibility.

CIB will provide an exclusive Residential Property Finance package to customers of DAMAC Properties who wish to purchase a home in Egypt.
According to Ziad El Chaar, (General Manager International of DAMAC Properties),“Egypt’s mortgage market is expected to show positive activity this year, in line with economic growth and growing demand in the market for real estate financing. This agreement between DAMAC and CIB is the first of its kind, and is just one way in which we are catering to the demands of the market.”

DAMAC customers will now be able to obtain financing for up to 80% of the property’s value, which is repayable for a tenor of up to 15 years, subject to terms and conditions.

This interesting development is doubly intriguing, due to the fact that
Egypt is experiencing a surge in popularity, both in tourism and in investors, therefore leading to believe that Egypt is indeed a lucrative oasis of possibilities.

The current status of the British Pound against the European Euro is also a contributing factor to the increased interest in Egypt, as European countries are becoming increasingly regarded as expensive places to visit.

In comparison, the exchange rate against Egypt is far more favourable, ensuring holiday makers and investors capitalise on their well earned money, whilst curbing on their expenditure tremendously, as they continue travelling abroad.

These recent research findings clearly show that financial fluctuations and value for money is fast becoming a vital consideration for consumers to take into account when booking their trips abroad.

Attracted by the low cost of living, low purchase costs, no taxes and the assurance of good rental returns and good resale values - investors are swarming into Egypt by the masses, to ensure their stake in the pseudo-utopian Land of the Pharaohs, Egypt.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Confidence in the property market in Egypt remains solid

Wed, 16 Jul 2008 00:00:00 GMT

Confidence in Egypt, as an emerging property market is at an all time high, due in part to the fact that the international communities have faith in the policies and visions of the current Egyptian leadership.

Due to the fact that many Britons have an ‘insatiable desire’ to own property in a sunny location, the recent global economic slump has done little to suede investors from looking abroad.

A large attraction remains the projected guarantee of large rental returns for property situated holiday destinations, the likes of Egypt, Brazil, and Italy �" to name but a few countries.

According to a survey conducted by ‘Homes Worldwide’, they recommend the possible increase in overseas investing (especially in Egypt, Brazil, etc) is directly related to the current state of the housing market in the United Kingdom, where the mortgage rate remain on the rise, while the price of houses is steadily on the decline.

In contrast to this is the fact that many other countries are currently in a position to offer good capital growth against relatively low and reasonably priced property.

A further survey, done by ‘Multicom’ recently brought to light that many companies in the holiday sector have seen an increase in the number of bookings.

A reflection of property in Egypt’s gaining popularity is the potential for high returns on investments, with yields being known to reach up to 11 per cent. As a result, Egyptian property prices are on the rise , however are presently still indicative of its ‘newbie’ status in the property sector, as one could expect to pay as little as £37 000 for a 2 bedroom apartment in a beachfront resort-style complex.

Chris Nourse (Multicom Manager) went on to say that “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

This climate of positive change is extremely promising, as Egypt is bound for great success, as is aptly worded by Jennette Bradbury (Managing Director, Egyptian Experience), “We expect the Egyptian property market to grow substantially in the next few years. After many years of economic reform the area is ripe for investment. With record levels of tourism, the property market in Egypt offers excellent investment returns, from both rental yields and property price rises."

There is a general consensus that investors consider property in Egypt, as an investment option, thanks to a “strong market in terms of excellent long term potential.”

Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large is attributed to the fiscal reforms the Egyptian government has committed themselves to.

Recent reports also suggest that “foreign direct investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

Egypt’s wealth of historical background, abundance of exquisite scenery, as well as Egypt’s policy of low stamp duty, death succession duty of 7 per cent, and zero capital gains tax �" translates into an unprecedented potential for positive growth.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Developments in Cairo boost property prices in Egypt

Tue, 15 Jul 2008 00:00:00 GMT

In light of the recent developments that are being built I Cairo, bringing even more positive interest into Egypt from international investors, one can clearly see that Egypt is set to experience continued success in the property sector.

Allegria, which is a 2.4 million square meter residential project, was launched just under a year ago, in 2007. This higher-end project is selling fast, and has already received an award of merit from the American Society of Landscape Architects (ASLA) for its master plan. Allegria also boasts a wide range of properties for sale designed by a number of world-renowned architects.

Another new project under way is the Casa Apartments Project. Offering all its potential purchasers an upscale and luxurious abode, Casa encompasses the essence of living the good life, for all investors seeking to reside outside Cairo but don’t want a house or villa.

Casa Apartments Project was designed by Egypt’s renowned architect, Shehab Mazhar, and has on offer to its visitors and buyers excellent facilities, the likes of a spa, clubhouse and a plethora of dining and entertainment venues. Casa is elegant, trendy and fashionable apartment living with 118 buildings, 1,200 units stretched over 294,000 meters of land.

According to property analysts, “A deal was recently signed with Solidere of Lebanon, to contribute their urban planning, real estate development and property management expertise in developing Westown. Westown is designed to be the city center for Sixth of October City, and it takes its inspiration from the refreshing climate and clean northerly air that sweeps in from the Mediterranean. Westown is intended to feel like an organic, vibrant living city that is a great place to raise a family, start a business or just have a night out.”

To the west of Cairo are several new suburban developments that are attracting upscale investment and seeing increasing property values. The Sixth of October City is one of these new areas that are experiencing a dramatic rise in property prices and interest from overseas buyers.

As was mentioned by international property portals, “The Company that is developing this area, the Sixth of October City Development and Investment (SODIC) has recently begun several new projects and has plans for more. The whole city is designed around a luxury golf course, so residents will be able to head to the course when they want to relax.”

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Property in Egypt reaches significant proportions

Mon, 14 Jul 2008 00:00:00 GMT

The ongoing management of investment property assets abroad is one of the most significant headaches that all international real estate investors have to suffer.

For investors considering the long term investment benefits of property in Egypt, all of the property management hassles can now be overcome with the employment of Emaar Property Services (a specialist real estate management company).

This significant expansion of Emaar’s highly successful and inimitably professional expert property management services into the Egyptian market is fantastic news for property investors who were drawn to the stunning Emaar based developments across Egypt.

Recent analysis of the comprehensive economic review of Egypt (collated by Moody’s Investors Service), together with the latest economic findings of the Institute of International Finance relating to Egypt’s performance - reveal an overall positive economic outlook emerging which is good for Egypt’s property sector.

Backing the findings of both reports were the announcements recently that foreign direct investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.

Confidence in Egypt is running at an all time high, investment commitment is being made because the international community has faith in the policies and visions of the current leadership in Egypt and Moody’s Senior Vice President Pierre Cailleteau summed it up perfectly when he stated that “evidence of a decisive break with the past is mounting” �" and it is this that is creating a strong flow of international property investor interest across Egypt.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.