Abrim Residences, Hurghada Beach Front, Egypt

ABRIM RESIDENCES IS THE FIRST PHASE OF THE SAMRA BAY MARINA & SPA RESORT LOCATED DIRECTLY IN THE HEART OF HURGHADA ON EGYPTS RED SEA COAST. A RANGE OF STUDIO, 1 AND 2 BEDROOM APARTMENTS LOCATED DIRECTLY ON THE BEACH FRONT OFF THE MAIN PROMENADE IN HURGHADA’S TOURISTIC CENTRE. INVESTORS WILL ENJOY RENTAL RETURNS IN EXCESS OF 10% P.A AND CAPITAL GROWTH EXPECTED AT 15-20% P.A. PRICES FROM £48,000.

Abrim Residences offers a range of studios, 1 and 2 bedroom apartments set over 5 floors. This development is the first phase of a multiphase project called Samra Bay Marina & Spa Resort which will boast a variety of facilities from a marina/club, spa and beauty centre, diving centre, aquatic sports centre, beach bars and restaurants, various pools. Egypt is a rapidly expanding tourist market which is on course to welcome 16 million visitors from around the world by 2014. Egypt is a favorable country for investors as there are no taxes on property purchase, Stamp Duty, Real Estate Tax, Transfer Tax or Inheritance Tax.

The investment package available entails a £2,000 reservation fee payable to reserve an apartment followed by 30% initial deposit payable on signing of contracts for 2 bedroom apartments (40% for studio & 1 bed apartments). An interim payment of 20% is payable July 2009 and the balance of 50% payable upon completion due end of 2011 (40% for studio & 1 bed apartments).

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