Ain El Sukna Hotel Rooms

This hotel is an all inclusive resort established for approximately twelve years. It is located in Ain El Sukna which is the first beach resort out of Cairo . Its location makes it popular with the Cairo residents for short breaks and weekends and this hotel caters mainly to the domestic market. It also receives some European tourists and obtains good occupancy figures.

This resort is being refurbished and will offer a turnkey investment to investors. The project offers a rental guarantee of 7% net for three years . there are no additional maintenance or management fees payable . The rooms are sold on a freehold basis. the developer has sourced a solicitor who has  offices in the UK and in Egypt and legal costs are estimated at £1000.

Rooms range from a standard room to a three bedroom serviced apartment and this is complimented by a wealth of sports and recreational facilities including swimming pool, squash courts. The hotel has a set of tennis courts and has been used for International tennis tournaments. A  delightful beach gives guests access to the warm waters of the sea. In addition a golf course is located aproximately 4 km from the resort.

Developer finance is available at at a flat rate of 8% for a term of 1o years

According to the United Nations’ World Tourism Organisation (UNWTO), tourism figures in Egypt grew by 20 per cent in 2007.  The increase has fostered demand among investors looking to rent accommodation to the new influx of travellers.  Approximately ten million of the 46 million tourists visiting the Middle East in 2007 went to Egypt, creating a large potential market for accommodation.  The Egyptian government aims to achieve 14 million visitors by 2011 which is thought to be achievable. The World Travel and Tourism Council estimates tourism to Egypt will grow at the rate of around six per cent annually in real terms in the next decade.  The country’s government is also keen to encourage investment from abroad.  Stamp duty in Egypt, along with capital gains tax and inheritance tax (for British citizens living in the UK and if property is left to family members) are all zero.  There is also no tax for non-resident owners in Egypt.