|
Full details
Sierra Resort is a complex located right in the very heart of Sharm el-Sheikh's fastest growing area - Nabq Bay. It consists of a four-star hotel complex together with a little over 400 luxurious apartments. Whatever visitors are looking for from a holiday, they will find it right on their doorstep at the Sierra Resort, with sandy white beaches just ten minutes walk from the resort, and the most upmarket shopping a short stroll away down the street. Despite being right in the very heart of the region, Sierra Resort is such a low-density project, built on a large plot, the place is so tranquil that you would never know that you were right in the middle of everything.
With such a perfect location and highly affordable prices, it's hardly surprising that the Sierra Resort has been a runaway success, with the vast majority of the apartments already sold. There are still, however, apartments of all sizes still available in Phase Two of the development. Being part of a hotel complex gives investors additional opportunities, as there are opportunites for good rental income through using their hotel management services.
Location:
Sierra Resort is located in Sharm el-Sheikh's fastest growing area and most upmarket area - Nabq Bay - which is situated in the north of the town. Sierra Resort is a second-line development, right in the very heart of the area, with a variety of upmarket shopping malls, bars and restaurants within easy walking distance.
Beach lovers will love the fact that white sandy beaches overlooking Tiran Island are just 8-10 minutes walk away, while golf players will be delighted to know that a new 18-hole course is just 5 minutes away by taxi. One of Sharm's two natural parks featuring mangrove swamps is also just five minutes away by taxi as well.
Sharm el-Sheikh International Airport is less than 10 minutes drive from Sierra Resort, with the many attractions and buzzing nightlife of Naama Bay a little over 15 minutes away.
Facilities & Benefits:
An 8-10 minute walk to a variety of beautiful sandy beaches
Pool views from all apartments; sea views from most top-floor apartments
Next door to all of the main shopping and entertainment areas in Nabq Bay
More than 10 swimming pools on site
Lush tropical gardens
Low density development containing a low ratio of buildings
On-site shops and restaurants in the attached hotel and shopping mall
On-site hypermarket
Parking spaces
Centralized satellite television
Wifi Internet coverage throughout
Housekeeping service
24 hour security
Full management service available through the attached hotel
Maintenance fee: one-time payment of 15,000 EGP (around £1,430) for one bedroom units, or 30,000 EGP (around £2,860) for two/three bedroom units, fully refundable upon sale.
Finishing:
Ceramic floor tiles throughout
Aluminium powder coated windows frames and balcony doors
Rendered walls painted
Internal fire-retardant doors imported from the UK
All electrical power points and light switches
Sockets for telephone
Smoke detector connected to the fire alarm system of the hotel
Stainless steel sinks with mixer taps in kitchen
Plumbing for washing machine
Ideal Standard toilet, washbasin and shower
Ceramic wall tiles in bathrooms
Pre-installation for air conditioning
Prices:
1 Bedroom Apartments (Middle Floor) 60m2 - £36,000
1 Bedroom Apartments (Ground/Top Floor) 60m2 - £40,000
2/3 Bedroom Apartments (Middle Floor) 120m2 - £72,000
2/3 Bedroom Apartments (Ground/Top Floor) 120m2 - £80,000
The 120m2 units in this development can be fitted out as either two bedroom or three bedroom units.
Top floor apartments come with a private roof terrace of 60m2; ground floor apartments come with a private garden.
Cash buyers paying 100% of the cost of the apartment upon contract can obtain a discount of 7% from the standard prices.
Investors looking to buy an entire block of six units and paying all in cash are able to receive additional discounts from standard prices.
Completion:
Phase One of Sierra resort was completed in March 2008. Completion of Phase Two of the resort is scheduled for February 2009.
Payment Schedule:
Reservation fee of 10,000 EGP (just under £1,000) fully refundable within seven days (cooling-off period)
35% upon contract
65% in quarterly instalments over a period of 9 months (3 post-dated cheques) for Phase One apartments
65% in quarterly instalments over a period of 18 months (6 post-dated cheques) for Phase Two apartments
The following discounts are available for buyers paying 100% cash upon signing the contract:
Phase One apartments - 5% discount
Phase Two apartments - 7% discount
12% discount is available for investors looking to buy an entire block (6 units) and paying 100% cash
Property reference: fapa5485
Disclaimer: Property details, prices and availability are supplied by the developer or the agent and are subject to change. findaplaceabroad.com cannot be held responsible for any inaccuracies.
|
