Mashareq, Nabq Bay, Sharm El Sheikh

Key features of Mashareq

• Studios, 1 bedroom and 2 bedroom apartments available
• Air conditioning connections included
• The whole project will be guarded by in house security
• Property management and rental service available
• Private garden or private roof terrace available
• Mountains, Pools and Sea views
• Housekeeping service on request
• Special discount on accommodation, food & Beverages in all Hotels owned or managed by Magic Holiday Hotels & Resorts
• Gardening department to take care of the landscape and green areas
• Maintenance department

Facilities

• 2 large, heated pools
• Landscaped areas with children’s playground
• Beach access
• Fitness Centre
• 2 specialised restaurants
• Night club
• Bar and Cafe
• Commercial facilities, a supermarket, boutiques, hairdresser/ beauty salon

Location

• 5 minutes drive from the sandy beaches of Nabq Bay
• 10 minutes from the relaxing and sophisticated area of Soho Square
• 15 minutes drive from the busy and vibrant area of Naama Bay
• Easy access to / from the Airport

Mashareq

This project is situated in Nabq which is a few kilometres away, 10 minutes from Sharm El Sheikh International Airport and 15 minutes from Naama Bay.

The resort is already well under construction and being built on a site of 30,000 square meters with amazing views of the sea to the front of the resort and the mountains of the desert behind.

Styled in traditional Andalucian architecture, the apartments are designed to incorporate exterior space, whilst offering first rate views of the most natural surroundings. There is free allocated use of beach area with courtesy buses available.

Why Sharm el Sheikh?

• One of the world’s most popular tourist destinations
- 12.8 million tourists in 2008
- 17.0 million tourists expected annually by 2020 (Source: The Ministry of Tourism)
• Growing demand for property and rentals
• Up to 20% capital growth annually on property investments
• No capital gains tax
• No inheritance tax
• No Government tax on property sales
• Interest free payment plans
• High rental demand due to 80% plus hotel occupancy and shortage of rooms for many weeks in the year
• A world renowned diving destination
• Huge variety of tourist attractions – historic sites, warm deep blue seas, excellent beaches, golf, quad biking, equestrian centre, ice skating and a national park
• Direct flights from all major UK and European airports. Regular services from British Airways, Easy Jet, Air France, Alitalia, BMI Eurofly, KLM, Lufthansa, Jet 2, Swiss, Egypt Air, Royal Jordanian, Thomson and other chartered and scheduled airlines
• Sunny all year round!

The investment potential in Egypt – a market overview

Economic growth and stability
Egypt has made impressive economic progress over the last few years’ thanks in the main to the wide-ranging reforms that were first implemented in 2004. They now have the second largest economy in the Arab world after Saudi Arabia.

The International Monetary Fund in 2008 commended Egypt for their determination to maintain the reform momentum in difficult circumstances and has withstood the international financial crisis better than many other economies. The inflation rate fell to an 18 month low in June 2009, giving the central bank more room to keep its key interest rate at its lowest level for more than a year.

Egypt has an open and flourishing stock market that ranks number two in the Middle East and second only to Bahrain. It continues to receive significant levels of foreign direct investment (FDI). This reached nearly $20 billion in 2008, a 40% increase over the previous year.

Political situation
With its large population, history and culture, Egypt is regarded as a significant political and cultural centre in the Middle East. The current Government is headed by Prime Minister Ahmed Nazif and the President, Hosni Mubarak, has been in power since 1981.

Tourism
Tourism remains a mainstay of the Egyptian economy, employing more than one-tenth of the population and bringing foreign revenues into the country. The sector is one of the largest contributors to the economy, with the World Travel and Tourism Council valuing it at $18.2 billion, equivalent to 16.3% of GDP.

The Ministry of Tourism reported that foreign tourists totalled around 12.8 million in 2008, up a strong 15% year-on-year. It is forecast that Egypt will receive over 17 million visitors per year by 2020. The Sinai Peninsula is particularly popular with tourists from across Europe, the Middle East and the US and nowhere in the world are there coral walls and gardens more brilliantly abundant, waters more crystalline or underwater life more varied and plentiful.

Infrastructure
Egypt’s infrastructure is currently undergoing massive investment with several large projects under construction including the upgrading of Cairo International airport and a number of local airports, major road routes and bridges and the railway system. Sharm El Sheikh Airport has been upgraded and plans are going ahead for further expansion next year.

Property Market
For the past few years, Egypt’s property market has been very buoyant although it is still regarded as an emerging market with lower entry prices compared to European countries. One of the major factors behind the rising property market is the country’s increased consumer spending. This growing purchasing power and a demand for housing within the domestic market has lead to a strong resale market potential. High demand for buy-to-let properties, both for long term investment and holiday lets, in popular tourist areas such as Sharm El Sheikh and Hurghada will ensure there is a constant demand for rentals particularly with easy accessibility provided by direct flights.

Climate and Weather
Sunny all year round! Egypt is situated in a subtropical region with a dry climate, hot summers and mild winters. Winter begins in November and starts to taper off by March with warmer days, but cooler nights. Temperatures rarely fall below 40F or exceed 75F. Summer begins in April / May with low humidity and temperatures in the 70sF. From June through September temperatures in the high 80s to low 100sF can be expected.
Useful link - Egyptian State Information Service www.sis.gov.eg

Tourism to Sharm El Sheikh
With its unique location in the Sinai Peninsula of Egypt, Sharm El Sheikh is considered as the meeting point between Asia and Africa and the cradle of great civilizations. With its diverse features of environment that combine together history, industry and agriculture, Sharm El Sheikh has become a huge attraction for tourists and businessmen. Sharm El Sheikh, the biggest and most important city of Sinai, lies at the southern flank of the Peninsula where the gulfs of Aqaba and Suez meet with the Red Sea.

Sharm El Sheikh, with its dramatic mountain landscape, offers a huge variety of tourist attractions including warm deep-blue seas and world-class diving, excellent beaches, golf, quad biking in the desert, an equestrian centre, ice skating and a national park. The resort also gives a real taste of Egyptian life and culture and serves as a base to visit some of the many historic sites that surround it. Mount Sinai is close by and according to Christian belief; this is where Moses received the Ten Commandments. Mount Sinai is more than 2,200 metres high and from the peak, where the Chapel of the Holy Trinity is sited, the views of the Sinai desert are breathtaking.

Travelling to Sharm El Sheikh
With Sharm El Sheikh being such a popular year round tourist and conference destination, there are scheduled and charter flights operating from all major UK and European airports. UK’s flagship carrier British Airways are now operating three direct services a week from London Gatwick. Other airlines regularly flying direct to Sharm El Sheikh are Easy Jet, Air France, Alitalia, BMI, Eurofly, KLM, Lufthansa, Jet2, Swiss, Egypt Air, Royal Jordanian, Thomson and other charter and scheduled airlines.

The airport is located approximately 18km northeast of Sharm El Sheikh, near Ras Nasrani. The airport is situated just off a major road which follows the coast directly into Sharm El Sheikh and the journey time is around 20 minutes.
For detailed flight information visit the website of the relevant airline