Egypt is fast emerging as one of the most popular destinations for UK holiday-makers and its tourism growth is at an all time high of 13% in the fourth quarter of 2009. This brings excellent opportunities for property investors, who could do no better than look to the Kimidar Group with their newly launched Golden Park Resort & Spa, in its prime location of Hurghada.
Golden Park is an award winning 5 star residential development planned to open in 2011. With low-priced entry level properties available and several attractive investment packages on offer, Golden Park Resort & Spa is a first-class prospect for new buyers and established investors alike.
Golden Park is made up of modern apartments, spacious villas and contemporary penthouses all tastefully designed and furnished in an eco-friendly manner, positioned within a relaxing spa resort that was accorded ‘Best 5 Star Development’ across the Arabic region at the 2009 CNBC International Residential Property Awards.
Close to the Red Sea and only 15 minutes from Hurghada airport, which has plans for a £66m upgrade and new terminal,Golden Park is an attractive candidate in the exciting Egyptian property market. Especially since the 2011 airport upgrade will increase passenger capacity from 6.7 million to 7.5 million passengers annually.
Undoubtedly, those interested in buying a property to let will recognise the opportunity that exists for making a rental income, and Golden Park Resort & Spa is also adjacent to an existing Kimidar Group resort, which receives some 4,000 visitors per week. This offers further prospects to investors considering renting out their Golden Park property.
Being part of the Kimidar Group, the second largest tour operator in Egypt, Golden Park makes a sound investment choice. Potential investors can benefit from fractional ownership which offers a very flexible buying opportunity.
Since demand for coastal properties in Hurghada has doubled in recent years and property values are growing by 20% per annum, Kimidar Group has been able to institute a generous rental leaseback program.
This means Golden Park owners can receive a guaranteed return of 7% every year on a 5 year renewable basis. Owners can enjoy a constant income stream, as well as having possession of such a sought-after residence. The scheme provides 4 weeks per annum personal usage.
Mr Mohamed Kamal Abu El Kheir, Kimidar Group’s CEO, commented: “Golden Park is an exceptional opportunity for property buyers whether as a holiday home or future investment. Egypt is seeing a strong growth in tourism, and the extension at Hurghada international airport means the resort of Hurghada, only 5 hours flight from the UK, will become even more popular.”
Bespoke investor deals are also available on request for Golden Park, as well as hospitality packages for interested buyers. However, the first stage being limited to approximately only 300 residences for sale, potential buyers must be quick to secure their luxury ‘place in the sun’.