Egyptian government delights property investors

24 July 2008

Egypt has long been a must-see holiday location, teeming with history and culture. The Great Pyramids are enough to leave even the most discerning holidaymaker awe-struck. Moreover, Egypt boasts a wealth of luxurious holiday resorts, foremost among which stands Hurgharda.

However, the bureaucratic nightmare of purchasing a property, not only in a different country, but also on a different continent altogether, has long deterred would-be investors. In fact, Egypt was once infamous for its seemingly insurmountable red tape. The current steps being taken by the Egyptian government to standardise visa application procedures will then come to the delight of every property mogul, no matter how big or small.

For example, standardisation of tourist visa applications, such that they incur a set fee ($15 US) and follow a well-defined procedure, will undoubtedly help boost visitor numbers. This will improve an already enviable tourist rental market, particularly in places such as Hurgharda where demand for good quality apartments is already rather high.

The popularity of Hurgharda is reflected in the construction of a new arrivals terminal at the centrally located Hurgharda airport, at a cost of over $150 million (US). The airport carries approximately seven and a half million passengers per year, many of whom will be looking to rent a holiday apartment or villa.

With these figures in mind, it is little wonder that investors are dying for their piece of this profitable paradise.

Principal International has looked into the investment opportunities in the Hurgharda area. There is very little public beach area Hurgharda and many of the developments that have recently been built do not have access to a beach. We are therefore delighted to offer an excellent 5* luxury beachfront resort.

For the investor there is also an option for an apart hotel lease back with personal use. Prices are due to increase shortly with the announcement of an international resort operator, we would therefore recommend that clients reserve now to avoid disappointment.

Use the link to see more details on this development of Hurghada Beach Resort