This touristic resort is located on a prime piece of land overlooking Naama Bay, the heart of Sharm El Sheikh, offering excellent rental opportunities both long and short term.

Siesta, Naama Bay, Sharm El Sheikh, Egypt

This touristic resort is located on a prime piece of land overlooking Naama Bay, the heart of Sharm El Sheikh, offering excellent rental opportunities both long and short term.

Prices from 259,840 EGP

Egypts 2020 Vision Tourism 2020 Vision is the World Tourism Organisations forecast of tourism in the first 20 years of the new millennium for every major tourist destination around the globe. It forecasts that Egypt will remain the Middle Eastern regions largest tourist destination receiving country with over 17 million international tourist arrivals. The expected growth rate in international tourist arrivals for the period 1995 to 2020 is above the average for the Middle East and indeed for the world, at 7.4%.

Naama Bay, Sharm El Sheikh is popular vacation spot and is home to a number of international bars, restaurants and night clubs with an attractive pedestrian promenade running next to the beautiful Red Sea and sandy beaches.

With limited build area left to develop, Naama Bay has seen more growth than any other location on the Sinai Peninsula and is an ideal location for a buy to let property or to enjoy as a holiday home. All this makes Siesta one of the strongest off-plan developments currently available in Sharm el Sheikh.

Key Investor Benefits

The property market in Egypt is now regarded as a solid reality of the market. The demand for real estate is increasing largely for both the acquisition of holiday homes and pure investment. There are numerous reasons for choosing Egypt as a location where to invest money:

*Warm desert climate with temperatures ranging from 20C in winter to 50C in summer creating a year-round tourist season

*Year round rental season

*One of the best diving locations in the world

*No VAT on property purchases

*No Egyptian Inheritance Tax

*No capital gains tax

*Low income tax

*Low cost of living and low maintenance costs

*Regular direct flights from most European destinations

*Fast growing tourism sector

*Strong economic growth and increased investment in infrastructure

Location of Siesta, Naama Bay, Sharm El Sheikh
The Google Earth co-ordinates are 275415.99 N 341927.98E.

The Development Siesta is located on a prime piece of land overlooking Naama Bay, the heart of Sharm El Sheikh. The project constitutes three residential buildings and various commercial shops all low rise and low density, comprising 50 units varying in size from 37m2 - 80m2 of surface space, all units will have a balcony with views of either, the sea, bay, mountains, pool or gardens.

The apartments are set in beautiful gardens with 3 swimming pools with the commercial area acting as a natural barrier between the main street and the residence affording our owners peace and tranquillity in the residential resort.

The design of the buildings will be on two floors with an internal court, gardens and the access to the various units on both the ground floor and first floor.

The Developer has been operating as a developer for the past 5 years in the real estate and commercial markets in Sharm El Sheikh. The company is privately owned and the owners partake in the daily running of the company. The Developer covers all stages of development, from marketing, architectural, planning, site management and rental of both residential and commercial properties.

Siesta apartments have all been designed to have a spacious lounge and bedroom areas. The interiors and exterior finishing are of a very high standard and particular attention is paid to the bathroom and kitchen, with lots of large windows throughout the apartment providing ample natural light and ambience. The project has been designed by Italian architects and conforms to European construction and hygiene standards whilst respecting all Egyptian regulations.

All apartments will have a balcony (7.5 m2) with views of either, the sea, bay, desert, swimming pools or gardens, along with access to a large communal roof terrace.

The design is based on the Mexican style with particular attention paid to the rounded edges, balconies and exterior walls, not forgetting the traditional wood beams.

All units will have the provision of air conditioning, wireless internet and satellite television.

Apartments

Studio Apartments 37.12 m2 - 47.45 m2 priced from 259,840 EGP - 332,150 EGP
1 Bed Apartments 53 m2 priced from 428,250 EGP
1 Bed Apartments 58 m2 priced from 450,000 EGP
1 Bed Apartments 63 m2 priced from 533,250 EGP
2 Bed Apartments 80 m2 priced from 637,500 EGP

Upon completion apartment sizes may vary by +/- 5%

1 GBP = 8.52 EGP 1 EURO = 7.90 EGP 1 USD = 5.50 EGP

(Exchanges rates are for guidance only and rates subject to currency fluctuations)

Siesta will offer buyers:-

*Close proximity to the main shopping and entertainment area of Naama Bay

*Sharm El Sheikh International airport 10 minutes away

*Close access to world famous dive sites

*Peaceful surroundings with impressive views

*Internal and exterior finishes are of high European standards

*All purchase contracts are officially translated into the purchasers mother tongue.

*Excellent short and long terms rental potential

*18 hole golf course 15 minutes away

*Specialist Management company

*Club Card Membership. The Lifestyle Membership card has been created by the Developer to provide all owners with an extra benefit! The membership affords the card holder discounts at various facilities such as restaurants, car hire, diving centres, scooter rental, night clubs and bars. The card is supplied free of charge to all clients who purchase a property.

The Reservation and Purchase Procedure

GBP 2,000 reservation deposit, this is a 30 - day fully refundable deposit to remove your property from the market.

Siestas Payment Plan
Construction date, schedule and completion date to be announced.
50% on signing of contract (less the reservation deposit paid)
25% after 6 months
25% on completion (expected month/year)
Closing costs in Egypt are approximately 2% of the purchase value.

Call us to today to reserve your apartment.

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