coast / for sale

Overview:
Marlion Residences is the perfect development for buyers who want it all - buyers who are looking for absolutely stunning views over the Red Sea, private beachfront access just a few metres away, but with all of the entertainment and dining opportunities that downtown Hurghada offers just a stroll or a couple of minutes by taxi away.
Located just a few hundred metres away from the original Sheraton Hotel that was the starting point for Hurghada becoming a world-class tourist destination, Marlion Residences occupies one of the best locations in the whole of the area.
Designed specifically as an 'apart-hotel', Marlion Residences is also the perfect project for serious investors who are as much interested in the high financial returns that it is possible to earn from buying property in the area, with the first 50 buyers benefitting from a generous payment plan that allows them to pay just 35% deposit on contract with the remainder due only upon completion in March 2010. Even more interesting is the fact that Marlion Residences offers a 10% forecasted rental income for a period of five years - the best deal of its kind on the Red Sea Riviera.

Location:
Marlion Residences occupies one of the most desirable location in Hurghada, located close to the original Sheraton hotel on a rocky outcrop that separates the original touristic centre of Sekalla with its vibrant nightlife and multitude of dining options from the new, upmarket touristic centre that runs along the Village Road pedestrian area.
Hurghada International Airport is less than five minutes away by taxi.
Despite its very central location, Marlion Residences is situated in a largely undeveloped area, offering the ideal spot for relaxation, taking in the views of Giftun Island across the blue waters of the Red Sea.

Facilities & Benefits:
• Stunning sea views from all apartments
• Private beach right opposite the development
• All of the entertainment and dining options in Hurghada just a few minutes away by taxi
• Two large swimming pools plus a jacuzzi on site; another swimming pool on the beach
• Landscaped tropical gardens
• Fully equipped gymnasium
• Restaurant and bar
• Shops on the ground floor
• Centralized satellite television
• High speed Internet to all apartments
• Public reception area
• 24 hour security
• Rental management service available for GBP300 per annum
• 20 years builders' guarantee
• Annual maintenance fee around GBP350 per annum

Highlights of the project:
• Situated 15 minutes walking distance between Hurghada Town and the new tourist sector.
• 10 minutes from Hurghada International airport with regular flights from the UK.
• A total of 256 apart-hotel units on 4 floors - all with stunning sea views.
• Front line beach development - one of the very few locations in Hurghada that is not taken up by hotels.
• A dedicated beach will be further developed to capitalize on this superb location with a large swimming pool by the beach.
• Fabulous views north, east and south across the crystal clear waters Red Sea.
• Completely freehold with balconies set amongst communal gardens - All penthouse apartments will have individual rooftop terraces.
• Being is such a rare position in Hurghada, makes these apartments exceptional value, and ensures a high resale value.
• All apartments come with re-assignable contracts
• 20 year building guarantee on all apartments
• Prices are discounted by approx 15% to the current market.
• Only £2,000 reservation fee plus 35% upfront payment required for the first 50 investors - no further payments until completion (March 2010).
• Further investors will be required to pay £2,000 reservation fee plus a stage payment of 35% followed by 15% in 6 months. The remaining balance will be due upon completion.
• Two scheduled price increases up until the end of 2008.
• With 2 price increases already in place, plus the 15% below market value launch price, investors will see an equity growth of around 35% on each apartment by the end of 2008, resulting in a minimum return on investment of around 180%.
• Guaranteed rental of 10% p.a. for 5 years on all units.

Prices:

Maximum prices are for the top floor apartments which includes the cost of a private roof terrace.
All these prices are quoted on a full turnkey basis including airconditioning and full funiture packs. This makes prices at Marlion Residences roughly 9% lower when compared to other developments which are sold on a finished basis.
Payments for this development are payable in GBP. The prices in other currencies are for illustration purposes only and will vary according to current exchange rates.

Finishing:
• Floors in locally made polished cream marble effect ceramic tiles in all rooms
• Locally made ceramic tiles in kitchens and bathrooms on the walls
• Ceramic skirting boards fitted throughout
• Interiors painted in cream color
• Interior plumbing in PVC, according to current regulations
• Outer carpentry in aluminum or wood surrounds
• Windows to be installed with double pane glass
• Electrical installation, including electricity socket points and light switches, cabling for interior and exterior ceiling and wall lights installed, according to current regulations
• Pre-installation for digital TV platforms
• Sockets for telephone, television and data, according to current regulations
• Electric water heater (boiler) 30 litre in each apartment
• Base kitchen units, stainless steel sink, granite work tops and locally made water mixer taps
• Bathroom sanitary fittings in locally made white porcelain (toilets, sinks, baths, showers) with locally made water mixer taps and extractor fans
• Interior carpentry with white lacquered wooden doors with handles in chrome/steel/brass
• Bedrooms with fitted wardrobes floor to ceiling with shelves and hanging bar
• Main front wooden door reinforced and lacquered with security lock
• Common smoke detectors and sprinkler system in all interior rooms
• Connection for airconditioning and heating system
• Affordable furniture packs available: Studio at GBP2750, one-bedroom at GBP3750, two-bedroom at GBP4750, three-bedroom at GBP5750

Completion:
Construction of Marlion Residences started in March 2008. Completion of the project is due in March 2010.

Payment Terms:
Option 1 - Only applicable for first 50 Reservations
• Reservation Deposit - £2,000
• 35% of purchase price payable within 4 weeks of signing the reservation agreement - 1st installment
• 65% of purchase price via savings or finance (STS) payable upon completion in March 2010 - final installment

Option 2 - All other Investors
• Reservation Deposit - £2,000
• 35% of purchase price payable within 4 weeks of signing the reservation agreement - 1st installment
• 15% of purchase price payable within 6 months following reservation - 2nd installment
• 50% of purchase price via savings or finance (STS) payable upon completion in March 2010 - final instalment.

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Global Real Estates limited endeavours to ensure that information appearing on this site is correct at the time of collation, but accepts no responsibility for any mistakes, inaccuracies or mis-descriptions, whether by inclusion or omission or otherwise. Prices, details and features shown are subject to change without notice, and Global Real Estate Limited accepts no responsibility for any such change.