Marlion Residences, Hurghada, Egypt

Located on the beaches of Hurghada, Marlion Residences consists of four floors with 256 apartments all with stunning views of the Red Sea. This exclusive development is situated in an enviable position in a quiet and scenic area, just 15 minutes walking distance from Downtown (EL Dahar) which is the old part of Hurghada.

> Landscaped gardens with swimming pools
> A private beach
> Bar and Restaurant
> Shops
> Jacuzzi and gym

The construction work on Marlion will commence in March 2008 with an expected completion in March 2010. Building licenses have already been granted from the municipa authorities and are available for inspection if required.

The opportunity

This is an excellent opportunity to acquire an apartment in an emerging location and with prices starting from £32,500 for a studio apartment, it is sure to attract many investor clients who wish to see an excellent return on their investments within an 18 to 24 month time frame.

It is estimated that the annual return will be between 10 -15%**, average being around 12%**. In addition, due to the location of this unique development, the capital appreciation is estimated to be around a modest 15% per annum.

Mortgages

For those investors who wish to take delivery of the apartment and who may need financing, mortgages for up to 65% LTV can be arranged and with competitive interest rates. All mortgages are subject to status and will be delivered by several local banks by our associate mortgage brokers in Egypt.

Capital growth

Whilst the Hurghada property market is still developing, it is clear that capital growth will remain steady for some time. The preliminary figures for 2008 indicate a growth rate of 15%**. Sahl Hasheesh on Hurghada’s southern boundary is currently selling property at prices nearly four times of those found in neighbouring developments

Rental Market

Rental properties in Hurghada are booked out well in advance and hotels tend to run an average of 90% occupancy or above. Presently, rentals offering a beachfront view are running between £195 and £600 per week. Some experts are estimating a 15% yield on properties that are purchased to let, but others suggest a 10% per annum rate.

Prices

>Studios (42-50 Sq.m) from £32,500
>1 Bed (68-83 Sq.m) from £52,500
>2 Bed (96-107 Sq.m) from £70,000
>2 Bed (114-121 Sq.m) from £82,000
>3 Bed (116-121 Sq.m) from £84,500

Payment plans:
Option 1- Only applicable for first 50 reservations

>Reservation Deposit - £2,000
>35% of purchase price payable within four weeks of signing the reservation agreement
>65% of purchase price via savings or finance (STS) payable upon completion in March 2010

Option 2 - All other investors

>Reservation Deposit - £2,000
>35% of purchase price payable within four weeks of signing the reservation agreement
>15% of purchase price payable within six months following reservation
>50% of purchase price via savings or finance (STS) payable upon completion in March 2010

*Subject to availability.
**Terms and conditions apply.

Development Features:

• Country: Egypt
• Region: Hurgada
• Location: Red Sea Riviera
• Type: Apartments
• Size: Studio to 3 bedroom
• Units: 256
• Price:From £32,000

Reasons To Invest:

• Prices are discounted by approximately 15%
• 1st price increase of 10% in place for March 08**
• 2nd price increase of 10% in place for July 08**
• Up to 65% finance available upon completion**
• No capital gains tax and no inheritance tax
• All apartments come with re-assignable contracts
• Unique exit strategy in place

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