Frequently Asked Questions on the Developments and Buying in Egypt

Where is the Desert Pearl Apartment Resort? The Desert Pearl resort can be found near the shores of the Red Sea, in the town of Hurghada, Egypt. About 15 km south of El Gouna. How many properties will there be at Desert Pearl? This resort will comprise 225 units. There will be 44 studios, 48 one-bedroom, 117 two-bedroom and 16 three-bedroom apartments. Are the properties freehold or leasehold? All the properties are freehold. Who is developing Desert Pearl? Worldwide Destinations are the developers. Has the Developer got land title? Yes, the developer has full legal title to the land. What Licenses have been granted? All the necessary licenses and planning permissions have been obtained. (Copies are at present being translated and will be included in the Due Diligence document). When will construction begin? Construction has already started. When will the property be completed? The properties will be completed in March 2008. What are the payment terms on the property? Pre-launch prices start at £17,600. We facilitate an effortless payment plan in five simple steps. First payment of 10% deposit. Three further payments of 10% in the remaining 12 month period. A final 60% upon completion paid with either an arranged mortgage* or cash. One off full 40% down payment will grant every buyer a free Lifetime Lawyer membership worth £3,995, which will cover the completion cost of your purchase. *Mortgage subject to status. Is there a Pre-Launch Special Offer? Yes! The first 50 units can benefit from above scheduled payment terms. If full 40% is paid Client can receive Lifetime Lawyer Pack (normally priced GBP 3,995) free of charge. For further information, call Lifetime Lawyer on Freephone: Can the properties be bought in a company name? No, not at this time. Can you inform me of a legal firm that could help me? Lifetime Lawyer - please see point above, or alternatively, our lawyers in Egypt: United Lawyers: Are mortgages available? Yes, a capital + repayment type mortgage, subject-to-status, on 60% of the purchase price is available at 7.9% flat rate for a maximum period of 10 years. What is the name of the bank handling the mortgage? T.B.A. What are the details of the mortgage package? Refer to document: ‘Desert Pearl Mortgage Package’. What is the yearly maintenance fee? The yearly maintenance fee will be GBP 500 per annum. Is there a builder’s warranty on new build, if so how long? Yes, warranties for new build are for one year. What type of running costs should the client expect? Apart from the annual Real Estate Tax of EGP 500 (approx. GBP 50) and the annual maintenance fee of GBP 500, there will be utility (water + electricity) charges substantially lower than by European comparison. What is the construction of the building? The foundation of the building is reinforced concrete. The construction is of brick. What will be the orientation of the apartments? The apartments will face South-East. What will be the layout of the development? There will be 12 buildings forming the whole site. Each building will have 5 floors each with 4 apartments per floor. Each of these buildings with 20 apartments will have a lift for their own use. Will the apartments have sea views? Apartments on the third, fourth and fifth floors will have sea views. Will there be a rental pool? Yes, with rental prices based on our achievable rental return calculations – refer to our DP Rental Return document. How long is the rental season? 12 months. What are the expected rental opportunities in the area? Refer to final page of brochure. What is European Design & Finish? Normally in Egypt a new build property is sold as a shell, doors or windows are not installed, walls and floors are not finished, kitchens and bathrooms are not equipped. European Finish includes; polished ceramic floors, tiling in kitchen and bathrooms, windows and doors installed, all electrical installations, pre-installation for digital TV platforms as well as sockets for telephone, television and data lines. Fitted kitchen with base units, stainless steel sink, granite worktops and mixer taps. Bathroom sanitary fittings in white porcelain (toilets, sinks, baths showers) with mixer taps and extractor fans. Bedrooms with fitted wardrobes. Are the properties sold fully furnished? Furniture and kitchen appliances are not included in the sale price, but will be available as furniture packages. What are the quality specifications of the properties? See above. What are the purchase costs? Registration of the unit and lawyer fees will be £995 all in. What are the lawyer’s fees involved in the purchase of the apartment? See above. Is there a Real Estate Tax? There is an annual Real Estate Tax of EGP 500 (approx. GBP 50). Is there any Stamp Duty? No. Is there any Government Tax? No. Is there any Capital Gains Tax or V.A.T? No. Is there any Inheritance Tax? No. Can I sell my property at any time? Yes. What is the general overview of the area? The town of Hurghada, known as Al-Ghardaka in Arabic was founded in the early 20th century as a fishing village, with over 40km of coastal resorts and spectacular beaches. The Red SeaRiviera has fast become a community of mixed nationalities and cultures. The permanent summer weather and leisure activities, including desert safaris, diving and golf, make this the most popular resort in Egypt. With its crystal clear water, untouched reefs and a multitude of ship-wrecks, Hurghada has become one of the most popular diving and snorkelling destinations in the world. Nearby lie the stunning resorts of Sahl Hasheesh and El Gouna, both exclusive destinations offering residents and tourists fantastic views of the desert, mountains and natural lagoons. At the heart of the El Gouna Resort is the Abu Tig Marina, the most beautiful harbour on the Red Sea designed around the spectacular El Gouna Golf Club, an 18-hole, PGA professional golf course. What are the facilities in development, immediate and surrounding areas? Swimming pool and bar, gardens, internet café/business centre, gymnasium, games room and laundry – all within a gated environment. For information on surrounding area refer to brochure. How long are the seasons in Hurghada? The Red Sea Riviera’s warm climate makes it an ideal destination at any time of the year. There are two seasons: a hot summer, which runs from May to October, followed by a mild winter for the remaining months. Temperatures range from a minimum average of 15ºC (59ºF) in winter, with cool nights, to 30ºC (86ºF) in summer, with comfortable warm nights. How accessible is the area? Flight time from the UK is 4.5 hours with scheduled weekly flights. Charter flights from Germany are almost daily. Flights from other major European cities include Munich 3.5 hours & Rome 3 Hours. How do you get there? Egypt's national air carrier is EgyptAir, and Air Sinai also has good connections in Egypt. Most travellers come into Egypt through Cairo, although people are increasingly disembarking at Alexandria, Luxor, Aswan, Hurghada (Al-Ghardaka) and Sharm el-Sheikh. These airports are serviced by a number of smaller carriers and charter companies with direct connections to Europe. Refer to attached document ‘DP Europe Direct To Hurghada’. What are the tourism figures for Egypt? Refer to attached document ‘DP Egypt Tourism Report’. Are there any websites you can recommend? http://egypt.travel To get more info on this developments contact divecentre@gmail.com we will be happy to help.

Sunset Pearl Golf & Beach Development

Nestled above a hill with astounding views, amidst glistening dunes, palm trees, golf courses and clear waters lies the magnificent Sunset Pearl Golf & Beach development in the exclusive Sahl Hasheesh resort in the Red Sea.

Sunset Pearl Golf & Beach Apartments Sahl Hasheesh is a new residential complex set in an area of over 59,000 meters2. This 5 Star prestigious development is composed of 450 apartments offering top quality design and construction materials.Less than 5 hours from the UK in one of most beautiful bays in the Red Sea we find Sahl Hasheesh a master planed environmentally responsible resort inspired by rich Egyptian architecture and heritage. Situated 17 kms south of Hurgahada airport between Hurghada and Safaga.

Luxor and the Valley of the kings are just 200 kms away by road or short flight. This dynamic resort with its enormous variation of facilities and activities in all year round summer weather has established itself as top tourist destination and rightfully earned together with Government incentives the reputation for good value and low risk property investment worldwide.Owners of the properties will be able to enjoy on site facilities such as communal gardens, swimming pools, cafe, gym, games room, pool bar, gardens, golf and diving to mention just a few.

• 12 km private beachfront


• 1, 2 and 3 bed luxury apartments


• 3 bed detached villas


• Ideal Beachfront location


• Three 18-hole golf courses


• Golf academy


• Sunken city for underwater exploring


• Spectacular marina with heliport


• Freehold property


• Scuba diving and snorkeling


• Sports and leisure facilities


• 4* and 5* hotels

This project has just been relased, with some astounding starting prices.

For more details drop a mail to divecentre@gmail.com for details and a resevation form.

Foreign purchasers have the right to own real estate and land in Egypt.

Today the Eygptian government recognizes the great value foreign investors in property have for the success of the economy and have set about actively encouraging overseas buyers to Egypt. New laws have been established to make the Egyptian property purchase procedure more secure. For example, the government can no longer impound or nationalize any property they wish – a practice that stood for centuries. These changes, along with a few others, are increasing confidence amongst overseas buyers.

We will gladly guide your through the purchase process in Egypt to ensure you are fully informed of the facts to avoid any potential pitfalls.

Once you decide on a property, you will need to pay a holding deposit to take the property off the market while contracts are drawn up.

It is completely usual to negotiate a property’s selling price in Egypt, unless you are buying off-plan when the price is fixed.

Lawyers

Lawyers in Egypt will normally speak English and will be able to produce your necessary paperwork in Arabic, as required by all the authorities. Egypt has many complex real estate registration issues so it is critical to have a lawyer conduct the appropriate searches and provide you with legal advice regarding the purchase.

Local lawyers will also help you through the best way to conduct business with the local people who have their own particular idiosyncrasies and customs which are important to be aware of.

Fees and Taxes

Property registration and legal fees for conveyance total around 6%.

Stamp Duty on property is payable by the buyer at 3%. The buyer will also pay a small inspection and measurement fee (approx. 65 euros).

Tax on any form of income from property runs at 20 to 22% and is basically the alternative to Value Added Tax. Many countries enjoy a double taxation treaty with Egypt.

Egypt levies no inheritance or capital gains taxes.

Registration

Most Egyptian properties are not registered, even though registration is an essential pre-requisite to a purchase. Therefore the lawyer’s assistance in liaising with the Real Estate Registration Office in Egypt is essential in order to ensure the property is duly registered and prepared for foreign purchase. Registration can take up to four months. After inspections and payment of taxes/fees, you will finally obtain a new title from the Registry.

Mortgages

Currently there are no mortgage facilities available to foreigners in Egypt, though this situation is due to change in the near future with the full implementation of a new mortgage law in Egypt. The best option today is to obtain a mortgage abroad or to free up equity in your country of residence via a re-mortgage or an equity release scheme. In this way you will be able to purchase your property in Egypt outright.

The current lack of a fully developed lending system has slowed the construction industry in Egypt, even though Cairo is one of the most densely populated cities in the world and the need for new housing is starkly apparent. This situation is destined to change as soon as mortgage facilities become more commonplace.

For more info on The Desert Pearl development in Hurghada get in touch at divecentre@gmail.com to arrange floorplans, Pricing & a reservation form.

The Opportunity of Buying in Hurghada, Egypt

A great investment opportunity by the shores of the Red Sea.

Prices starting from only £17,600. With the added option to pay the deposit in 4 easy payments of £1,760 over one year (Balance made payable with subject to status mortgage).

The Desert Pearl Beach Apartments are only 200 metres away from Hurghada’s pearl white, sandy beaches and shopping district. Desert Pearl consists of 225 gated European style terraced apartments with communal tropical gardens, pool bar and swimming pools. The complex will provide year round services. These are: maintenance, gardening and laundry services. The ground floor will house private facilities including a fully-equipped gymnasium, games room and internet café/business centre.

A limited number of the followingpre-launch properties at Desert Pearl Beach Apartments are being offered at reduced prices.Studios - 474 ft21 bedroom apartments - 786 ft22 bedroom apartments - 1001 ft23 bedroom apartments - 1184 ft2

Contact divecentre@gmail.com for Floor plans and a reservation form

The Desert Pearl Development - High Rental Return Achievable in Superb Location

THE RED SEA, EGYPT HAS YEAR ROUND SUNSHINE AND IS ONLY FOUR AND A HALF HOURS FLIGHT FROM THE UNITED KINGDOM.
A gated development of European design terraced apartments surrounded by communal tropical gardens, pool bar and swimming pools. These spacious apartments have the following approximate Rental Returns:

Yields per annum from 11.8% to 23.6%

Easy Payment Plan
Pre-Launch prices start at £17,600. We facilitate an effortless payment plan in five simple steps:
First payment of 10% as deposit.
Three further payments of 10 % in the remaining 12 month period.
A final 60 % upon completion paid with either an arrangedmortgage* or cash!
One off full 40 % down payment will grant every buyer a free lifetime lawyer membership worth £3,995.00, which will cover the completion cost of your purchase. *Mortgage subject to status

Contact divecemtre@gmail.com for floor plans amd a reservation form

HURGHADA:The long stretch

Hurghada was once just a tiny fisher village, with a location that seldom brought strangers here. Even in late 1970's this was the situation, but with the nature around, the clarity of the water, and the endless opportunities for divers, Hurghada was destined to become an Egyptian centre for pleasure tourism.
Today, the result is a stretch of 20 km with beach hotels. Most of these hotels are organized in an attractive way, but far from the true Egypt of great monuments, traffic jams and mud brick houses. But this makes Hurghada a successful tourist resort for divers and swimmers. Huge crowds of Egyptians, Saudis and other Arabs have since long joined the stream of Europeans and Americans coming here throughout most of the year. There are a couple of drawbacks, though. Non-hotel beaches are not terribly great, but often crowded. While the fish life is just what you hoped for right off the beach, there are no corals here anymore. This can only be discovered by joining one of the many boat expeditions out to the nearby islands. Giftun is the largest, and lies about 10 km from Hurghada.Hurghada is in reality three main centres and numerous self-contained tourist villages now growing into one body. To the north, lies the place that is closest to being a town, Ad-Dahar, which has more than half of the total local population, and the the most price worthy hotels and restaurants. A couple of kilometres south, comes Sigala, a place that suffers from being between Ad-Dahar and New Hurghada a few kilometres more to the south. There are some hotels here, some restaurants, In New Hughada total tourism comes alive, offering every amenity a visitor is looking for.

For more information on the Desert Pearl development drop a mail to divecentre@gmail.com to get full prices, floor plans and a reservation form

Hurghada Airport - some useful Links

Hurghada Airport (HRG)
Priceline offers numerous flights to and from Hurghada Airport. Priceline searches thousands of airlines and flight schedules providing you convenient flight times to and from Hurghada Airport. Hurghada Airport is located in Hurghada, Egypt. With priceline, flying to your favorite Hurghada Airport destination is a simple mouse-click away.
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To get the lowdown on investing in Desert Pearl contact divecentre@gmail.com to arrange floor plans and a reservation form

Egypt: Leading the Middle East by Parisa Veldman-Koops, Senior Financial Writer, ING IM

Europe
The economies of the countries around the Persian Gulf have benefited tremendously from the surge in oil prices of the past few years. Egypt, whose markets are strongly correlated to the Gulf region, occupies a special position. Although only a small net exporter of oil, this most populous country in the Arab world benefits from the accessibility it offers to foreign investors and from the government’s focus on reform. It is no secret that many equity markets in the Emerging Markets universe have shown impressive returns in recent years. Egypt is without a doubt one of the biggest success stories, with an equity market that added 126% in 2004 and another 162% in 2005. Egyptian Market Performance: A Crescent To Admire After having gained another 26% in January, the Egyptian equity market embarked on a correction from February onward. While this correction coincides with that of global Emerging Markets, it has been more pronounced, clearly illustrating the market’s above average volatility. Against the background of ongoing structural reform, however, the macro-economic picture continues to bring mostly good news: GDP growth is accelerating, as is foreign direct investment, while both interest rates and taxes were been cut. Egypt certainly remains worthy of investors’ attention. One of the elements behind its success has been a series of structural reforms, such as the change to the exchange-rate regime in 2003. The Egyptian pound, which had previously been pegged to the dollar, was allowed to float, a move that helped to stimulate exports and foreign investments in the country. This was followed by the appointment in 2004 of the pro-reform government of Prime Minister Ahmed Nazif. Privatization is one of the areas where the government has moved forward, creating opportunities for both domestic and foreign investors and further boosting the equity market. In this respect, it is important to mention that the Egyptian equity market is easily accessible to foreign investors. The situation is quite different in Saudi Arabia or other smaller Gulf countries. Many of them impose significant restrictions on foreign ownership, providing access to their equity markets only to domestic investors or to investors from the Gulf region. Egypt’s open market is therefore in a position to attract interest both from global investors and from investors within the region itself. Next to being major net buyers of securities of Western markets, Gulf investors also have a liking for investments within the Middle East, motivated by, among other factors, cultural and religious affinities. These investments are not restricted to equities only: the Egyptian property market is another prime target of Gulf oil dollars. For its neighbors, and for investors in the world at large, Egypt is a market that deserves close attention. Parisa Veldman-KoopsSenior Financial Editor, ING IM Europe

For more information on the Desert Pearl Development contact divecentre@gmail.com for details and a reservation form.

See yourself in Hurghada

Where the desert meets the sea lies the capital of the Red Sea Governorate, Hurghada, a bustling town, known as Al-Ghardaka in Arabic. Founded in the early 20th century as a fishing village, with over 40km of coastal resorts and spectacular beaches, the Red Sea Riviera has fast become a community of mixed nationalities and cultures. The permanent summer weather and leisure activities, including desert safaris, diving and golf, make this the most popular resort in Egypt.

Dive into the Red Sea
Known as one of the most beautiful places on earth, the Red Sea is a truly exotic and fascinating natural seascape environment. Its crystal blue surface and oasis of living creatures, reefs and coral formations, make it one of the world's most highly sought after diving locations. Hurghada provides a gateway to the Red Sea's prime diving sites and is unique in offering access to many uninhabited offshore reefs and islands, allowing a myriad of opportunities for swimming,

snorkelling, scuba and free diving.

Contact Divecentre@gmail for full floor plan details and reservation forms

The Jewel Of Hurgada

The Desert Pearl Beach Apartments are only 200 metres away from Hurghada's pearl white sandy beaches and shopping district. Desert Pearl consists of 225 gated European style terraced apartments with communal tropical gardens, pool bar and swimming pools. The complex will provide year round services, these are: maintenance, gardening, laundry service and business centre. The ground floor will house private facilities including a fully-equipped gymnasium, games room and internet café/business centre. A limited number of the following pre-launch properties at Desert Pearl Beach Apartments are being offered at reduced prices starting from £17,600:

Contact divecentre@gmail.com for full details and a reservation form