Long before the King of Morocco ratified the Vision 2010 national development plan to help diversify the economy and bring foreign investment, Morocco was a popular destination for international film producers. Films such as Ridley Scott’s ‘Gladiator’ and ‘The Kingdom of Heaven’ have recently been shot there and Morocco’s now so famous as a film set that it has a series of internationally acclaimed film festivals annually such as the Mediterranean Short Film Festival in Tangier and the Trans-Sahara Film Festival in Zagora, which both take place in June.

Naturally, now that the King of Morocco’s ambitious plans for economic diversification are coming to fruition as laid out and detailed in Vision 2010, the film industry is one to benefit even more from the new policies and legislation that have brought about greater business transparency in a successful bid to attract significant and sustainable levels of foreign direct investment.

One of the latest productions to benefit was the BBC’s ‘The Passion.’ Speaking in an interview with The Sun specifically about the filming experience, actor James Nesbitt who played Pontius Pilate remarked that: “from the bustle of Marrakech’s colourful souks to the vast beauty of the Atlas Mountains, it is surprisingly different from anywhere in Europe” – despite being only a short three hour hop away from the UK!

And the film industry is certainly not the only one to benefit from Vision 2010 and the strong economic emergence of Morocco; forming strategically central roles in the national development plan are the tourism and real estate industries which is why Morocco has suddenly become such a popular place for property investment.

According to Steve Worboys, MD of Experience International: “developments such as Apple Gardens in Marrakech, which comprises of 51 high quality villas within a boutique-style development are being snatched up by investors well aware that demand will potentially push up values in the city where there have been predictions of 15% annual capital growth, but that as Vision 2010 comes to completion, Morocco will likely be internationally recognised as a superb place to live, work, invest and do business.”

For others, the appeal of Morocco is not just about its economic strength and fantastic investment landscape – it’s more about the beauty of the nation, the fabulous weather, the history, the magical cities and the people. This is why Morocco is such a popular choice with film producers, holiday-makers and now second home buyers alike. Proving popular with the latter group are resort style developments such as Mediterranea Saïdia with its golf clubs, private beach, diving and sailing centre and myriad of five star facilities, and Playa Vista where apartments are guaranteed an ocean view forever because of their breathtaking sea front setting.

Life's a beach and golf and... an underwater city?

Where do you get all three? And what is a city doing underwater anyway? Answer : The Sahl Hasheesh (meaning Green Valley) megaresort - A mystical and timeless spectacular new resort on Egypt's Red sea coast just half an hour South of Hurghada. Sahl Hasheesh will compare with just about any world class resort when completed.

Here, one of the world's most remarkable holiday property projects is rising from the desert. Spread over an area of 32 million square metres bordered by 12.5km of sandy beach, it combines all the facilities of a top resort with the bustling atmosphere of a lively port. The town will have not only premium resort facilities, but also essential community infrastructure like retail areas and hospitals. At its centre will be an arcaded piazza with an avenue leading to the Red sea, lined with over 100,000 fully grown palm trees specially brought in from the Nile.

The "sunken city" will be one of the main attractions. It is a feature which doesn't exist elsewhere in the Middle East or Africa.

The planners of the resort are building an entire historic city underwater along similar lines to the" lost city of Atlantis." The ruins of the city will be seen underwater, and the concept is a pharonic city that was part of Sahl Hasheesh area, which sank millions of years ago. While walking along the boardwalk, which connects to the pier that extends into the water 250m, one will be able to see the "sunken city" whilst standing on dry land. The main attraction though will be for divers who will want to see the cities' features at close quarters.

The surrounding "old town" will house luxury villas and apartments, some even with a private beach. Leisure facilities will include cinemas, bars, restaurants, 300 shops and a casino. Further afield - but closer to home than the real thing - will be miniature versions of the pyramids at Giza and the temples of Karnak.

The diving facilities at Sahl Hasheesh are of the very highest class, with coral reefs right on the doorstep. This is the ideal base for diving the famous shipwrecks of Sha'ab Abu Nuhas and the crystal-clear waters round the islands of Giftun and Abu Ramada. For golfers, work begins this year on an exotic 27 hole golf course - the first of 8 planned courses.

This is a great opportunity for buyers to experience lucrative returns on this exclusive resort investment. The infrastructure in the resort has already been entirely completed, with 180 million euros having been invested for roads, water, electricity and the opening of luxury hotels such as the Oberoi is now becoming commonplace.

The resort is conveniently only 20km away from Hurghada airport; flight time from the UK only being approximately 5 hours!

Short flight times from all European capitals, a warm climate throughout the year and the ongoing effective development of the tourist market provide for a constant, dynamic progression of the real estate prices in Egypt, especially at the Red Sea.

The essence of the resort is captured nowhere better than in the Paradise Gardens Golf & Beach resort. Barely 100m form the largest beach in Sahl Hasheesh and adjacent to a golf course the Resort offers studio, 1, 2 & 3 bedroom apartments . Also 3 and 4 bedroom semi detached villas. Prices range from around £42,000 for a studio and go up to over £200,000 for the Villas. The prices at launch started at 975 euro per sq m which is the lowest entry level in the resort.

Tahir Ali MD of Egypt Revealed who are overseeing the worldwide marketing of Paradise Gardens is delighted at the interest being shown in Sahl Hasheesh by investors. "We are aiming to set new standards in the he resort in terms of quality of build and facilities onsite. There is a fantastic opportunity for investors and holiday home seekers to enjoy excellent growth on their investment."

Ali also cites the increase in and the greater numbers of tourists from around Europe as reasons why the future looks very bright for the Red Sea coast in general and especially for Sahl Hasheesh.

All in all the grass really could be greener in this particular "Valley"

Aldar credit facility announced

ALDAR properties, the renowned Abu Dhabi-based property developer, announced today a US$ 600 million Ijara facility, has been put in place for the company.

The Ijara facility is equally financed by Abu Dhabi Commercial, Abu Dhabi National Islamic Finance (a subsidiary of National Bank of Abu Dhabi (the Islamic Banking Division of Mashreq bank psc), Dubai Islamic and Noor Islamic .

Dubai Islamic Bank (represented by its investment banking arm, Millennium Capital Limited, regulated by the Dubai Financial Services Authority "DFSA") acted as structuring and documentation agent for the transaction, while National Bank of Abu Dhabi acted as security agent. Allen and advised ALDAR on the transaction while Clifford LLP acted as the banks’ counsel.

"The success of this transaction, particularly given the challenging global financial environment, is an important endorsement of ALDARALDAR’s track record. We are grateful to each of the participating banks for their support and we are proud to have Islamic finance contributing to our business model," said Ahmed Ali Al Sayegh, Chairman of ALDAR.

Further commenting on the announcement, Ahmed Ali Al Sayegh, said: "The successful close of this Ijara facility has again shown ALDARALDAR to be a reputable, trustworthy and sophisticated company in its approach to the debt markets."

The transaction has been approved by the Shariah Supervisory Boards of the lead arrangers, making it fully compliant with the principles of Islamic finance. The facility has a four year tenor and will be used for general corporate purposes in support of ALDAR’s business plan and growth model. For a full explanation of Islamic finance see this post.

Today’s announcement comes just a few days after Moody’s Investors Service assigned long term local and foreign currency issuer ratings of A3 to ALDAR.

Moody’s, a leading provider of independent credit ratings, research and financial information to the capital markets, has described the outlook for ALDAR as "stable." (Not exactly a strong endorsement) “ALDAR’s ratings are supported by its leading market position within the Emirate of Abu Dhabi, whose real estate market is bolstered by a combination of strong demographic growth and a growing domestic economy. Ratings also benefit from the company’s intention to build a significant rental property portfolio, which will ultimately support a stable and predictable income stream over the medium to long term," it said.

In February this year, the company won awards for its shariah compliant finanAcing, scooping ‘Best Mudarabah Deal’ and ‘Best Real Estate Deal’ from Islamic Finance News (IFN) as well as ‘Sukuk Issue of the Year’ from EuroWeek magazine. Prior to today’s announcement, ALDARALDAR had already secured funding in excess of AED US$9.2 billion to undertake the development projects through convertible bonds (sukuk), capital debt instruments and bilateral debt facilities.

ALDAR has announced developments worth more than US$65 billion since its launch in 2005 including Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, as well as the YAS Island project which includes a Warner Bros and a Ferrari theme park. ALDARALDAR has the largest land bank in Abu Dhabi comprising over 34 million square meters, 100% earmarked for specific developments valued at $12 billion as at 31 December 2007. The company is one of the largest UAE-listed property developers by market value and was the first Middle Eastern company to list a sukuk on the London Stock Exchange.

Aldar credit facility announced

ALDAR properties, the renowned Abu Dhabi-based property developer, announced today a US$ 600 million Ijara facility, has been put in place for the company.

The Ijara facility is equally financed by Abu Dhabi Commercial, Abu Dhabi National Islamic Finance (a subsidiary of National Bank of Abu Dhabi (the Islamic Banking Division of Mashreq bank psc), Dubai Islamic and Noor Islamic .

Dubai Islamic Bank (represented by its investment banking arm, Millennium Capital Limited, regulated by the Dubai Financial Services Authority "DFSA") acted as structuring and documentation agent for the transaction, while National Bank of Abu Dhabi acted as security agent. Allen and advised ALDAR on the transaction while Clifford LLP acted as the banks’ counsel.

"The success of this transaction, particularly given the challenging global financial environment, is an important endorsement of ALDARALDAR’s track record. We are grateful to each of the participating banks for their support and we are proud to have Islamic finance contributing to our business model," said Ahmed Ali Al Sayegh, Chairman of ALDAR.

Further commenting on the announcement, Ahmed Ali Al Sayegh, said: "The successful close of this Ijara facility has again shown ALDARALDAR to be a reputable, trustworthy and sophisticated company in its approach to the debt markets."

The transaction has been approved by the Shariah Supervisory Boards of the lead arrangers, making it fully compliant with the principles of Islamic finance. The facility has a four year tenor and will be used for general corporate purposes in support of ALDAR’s business plan and growth model. For a full explanation of Islamic finance see this post.

Today’s announcement comes just a few days after Moody’s Investors Service assigned long term local and foreign currency issuer ratings of A3 to ALDAR.

Moody’s, a leading provider of independent credit ratings, research and financial information to the capital markets, has described the outlook for ALDAR as "stable." (Not exactly a strong endorsement) “ALDAR’s ratings are supported by its leading market position within the Emirate of Abu Dhabi, whose real estate market is bolstered by a combination of strong demographic growth and a growing domestic economy. Ratings also benefit from the company’s intention to build a significant rental property portfolio, which will ultimately support a stable and predictable income stream over the medium to long term," it said.

In February this year, the company won awards for its shariah compliant finanAcing, scooping ‘Best Mudarabah Deal’ and ‘Best Real Estate Deal’ from Islamic Finance News (IFN) as well as ‘Sukuk Issue of the Year’ from EuroWeek magazine. Prior to today’s announcement, ALDARALDAR had already secured funding in excess of AED US$9.2 billion to undertake the development projects through convertible bonds (sukuk), capital debt instruments and bilateral debt facilities.

ALDAR has announced developments worth more than US$65 billion since its launch in 2005 including Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, as well as the YAS Island project which includes a Warner Bros and a Ferrari theme park. ALDARALDAR has the largest land bank in Abu Dhabi comprising over 34 million square meters, 100% earmarked for specific developments valued at $12 billion as at 31 December 2007. The company is one of the largest UAE-listed property developers by market value and was the first Middle Eastern company to list a sukuk on the London Stock Exchange.

Cosmopolitan Berlin - The Real Investment Opportunity

With high quality city centre apartments starting at around £50k up to £120k (€75k-€168k), Berlin is rapidly becoming one of the world's property investment hotspots - and those early birds looking for the juiciest worms will find themselves some tasty treats.

Berlin Real Estate Centre, with its wide, practical experience of the country, this week announced the sale of apartments in the much sought after area of Prenzlauer Berg.

The 34 units, all modernised over several years, are close to historic Mauer Park, famous for its weekend flea market and hugely popular family picnics. A big shopping centre is nearby, alongside many schools and a kindergarten, making Behmstrasse a much sought after location by renting Berliners who want to be near the city centre action. Capital gain is conservatively put at 7-8%. "We're aware that many pundits are predicting 20% growth in Berlin, but we prefer to be cautious," said UK director, Trevor Hudson.

Investors benefit from a full service package during the period of the investment, from finance through to exit strategy, including rental income guarantee.

Berlin Real Estate Centre staff are happy to arrange inspection visits based on their years of local knowledge of the city. To find out more about the Berlin property market and receive details of investment opportunities, please fill out the form below. Find out more at:
www.berlinrealestatecentre.eu

Article written by Berlin Real Estate Centre

Dubai Property. Good investment?

In 2002 Sheikh Mohammed bin Rashid Al Maktoum of Dubai had a vision to create the city of the future. In doing this and creating a truly cosmopolitan and global society, an international community would be required, and so the Sheikh decided to allow foreign investors to purchase property on Dubai soil.

Dubai and the UAE's future is focused upon creating a business and tourism environment second to none which centres around incoming foreign investment from commercial institutions and individual investors.

Why Invest in Dubai?

• Future Demand: Population is destined to increase from 1m to 3m whilst tourism will also triple from 6m to 15m, by 2010
• Future Supply: All master-planning is Government controlled to carefully manage the demand-supply ratio thus maintain strong growth & returns
• Capital Gains Tax: 0%
• Rental Income Tax: 0%
• Legal & Notary Fees: None required, although legal advice is recommended
• Land Registration Tax: 1.5% (this is paid to the Government on completion)
• Transfer Fee: 1-7% (this is paid to developer on resale of contract before completion)
• Buying Process: Simple. No Company formation is nor National registration required
• Payment Structure: Following an initial reservation deposit, a deferred payment structure is usually provided by the developer with payments spread over the construction period
• Finance: This is available to non-UAE residents only on certain projects, with competitive interest rates from 6 - 9%, and usually with 15 yr terms and reasonable conditions
• Capital Appreciation: Recent years have risen between 15 - 25% annually
• Rental returns: Recent years have returned between 10 - 20% annually
• Freehold: The right to obtain freehold rights on your property is provided with most non-UAE purchases of property. See below.
• Residency: Resident visas are supplied with non-UAE purchase on property
  

Purchase Procedure & Legal Costs

Purchasing off-plan in Dubai is a relatively simple process which does not require use of a lawyer, however of course Property Frontiers does recommend you do always take legal advice with any financial investment. All property investment available to foreigners in Dubai is within special zones master-planned by governmental organizations, and as a result the contract structures must be passed before the government before they can ask customers to sign. There is no capital gains tax or income tax within Dubai itself.

For more advice on purchasing property in Dubai, please contact us

Finance

Mortgages in Dubai are not yet the developed and versatile product we are gratefully accustomed to here in the UK, and they are not available on all developments. Each individual developer is required to negotiate for finance to be provided on a per-development basis. This situation is expected to change drastically once Freehold Law is ratified (see below).

Lenders (generally local banks, finance companies or HSBC Dubai) conduct due diligence analyses on those developments that have requested finance first, and due to the large marketing budgets and extreme aggressiveness of the market often these developments do sell out even before finance is available.

When finance is provided, such as with Al Hamra, the loan will most likely have a maximum term of 15 yrs and be of repayment status only (no interest only loans). Interest rates vary between 6% and 8% and as with the majority of overseas loans for UK investors, an individual's net disposable income is required to be roughly 3 x the figure for the monthly mortgage repayment. Loans usually offered range from between 50% to 75% LTV.

The service we offer investors:

Property Frontiers carefully selects property investment opportunities from politically stable countries that indicate excellent economic growth, have internationally respected legal systems, stable currencies, attractive tax policies and will provide strong investment yield and growth.

Though research we saw the UAE had good investment potential so we have selected a variety of investments in and around the Dubai Emirate which offer different advantages and cater for all types of investors depending upon what they hope to acquire and achieve with their investment, hence, you may notice that we do not list many of the open market properties that often have an "agents margin" attached to the selling price. Please click here or see below for a listing of some of the properties we are promoting in Dubai.

For Property Frontiers to recommend the best investment for you, it is important you can first honestly answer these simple questions:

1. What is your budget and will this increase over the next 2 years?
2. Will you prefer financed investments or are you able to invest with cash?
3. What is your time scale for investment, when may you want to exit?
4. Is this for long-term investment of short-term profit?
5. When are you looking to take ownership of your property? Are you looking for early completion or are you prepared to wait a few years?
6. Do you have any particular size, feature or location requirements of your property?
7. Will you be managing the property yourself or would you prefer a managed and guaranteed return, such as with The Cove?

Morocco Property Market

Morocco Property - A sought after new investment market

Morocco property is currently becoming one of the world's leading luxury emerging markets. It is popular for many reasons but one of the major considerations is the excellent price that luxury Morocco property can be purchased for during this era of major development and construction.

High build quality and the relatively low relative cost of Moroccan property makes Moroccan real estate market a very attractive option for investors.

Further factors to be taken into account are coupled with the Morocco's excellent expected capital growth in Morocco and the already solid and ever-increasing "Buy to Let" market.

Find out more about property in Morocco and investment property in Morocco by using the links below.

Moroccan Property Market Overview

With the reform-minded King Mohammed VI at the head of a multi-billion dollar initiative, Vision 2010, tourist numbers are due to increase dramatically by 2010 (see our Morocco investment research - investment growth). The plans extend to all economic sectors, including the infrastructure, telecommunications, electricity, banks, insurance, education, health services with a view to maintaining them to the world-class standards expected from today´s foreign investors.

The Vision 2010 initiative has ear-marked 6 areas or resorts for major development and these will be the locations of most of the new property developments in the near future. Focus is on five star luxury facilities which are being brought about by an advanced infrastructure outside and within the resorts, and easier access to and from ports and airports to the resorts. This attracts increasing numbers of investors and second home buyers to property in Morocco.

Tourist numbers continue to increase due to the Open Skies initiative, inviting budget package airlines to extend their services to Moroccan airports. Low cost, direct flights are now available from most major ciites in Europe, making Morocco an increasingly popular tourist destination. With the construction of quality new hotels and properties now in full-swing, Morocco is well equipped to handle increased tourist numbers as well as to offer investors some potentially excellent buy-to-let options and high rental occupancies.

Morocco Property Investment

Morocco is believed to be one of the best options available to you for real estate investment today. Property can be purchased in Morocco for a great deal less than in most other destinations and has the added benefit of having an already established and rapidly growing "buy to let" demand. Capital growth is expected to be considerable with estimates of between 15% and 30% being very common.

Reasons why property in Morocco is a good investment

• Property prices are currently very competitive.
• With the low cost of living, it is possible to experience a luxury lifestyle at relatively small expense.
• The property market in Morocco is currently booming and looks set to continue to do so for a considerable time.
• Capital growth is estimated at around 15% - 30%, based on last year´s figures ( Homes Overseas Magazine quotes the growth to be nearer 30%).
• Capital gains tax stands at between only 0% and 20%.
• Inheritance tax is not charged.
• Property tax is not charged during the first 5 years.
• Rental occupancy currently reaches around 85% during peak season and it is set to increase as the Vision 2010 tourism drive continues.
• 70% mortgages are currently available * Vision 2010 to provide additional infrastructure and new roads, marinas, trains, 5 star resorts, shopping malls, beach clubs, thus increasing visitors to the area.
• The Open Skies policy allows competition for Moroccano air routes. It will
  generate competition, increase services and dramatically lower air fares.
• Yacht club and mooring fees are under £27/month. These are turning even the most wealthy away from the more traditional ultra expensive Mediterranean resorts.
• Beautiful sandy beaches with crystal clear water.
• Stunning golf courses, tennis clubs, riding clubs, waterskiing, sailing, scuba diving, hunting, hiking, camel treks, culture attract all types of tourists and investors alike.
• The Mediterranean climate bringshot summers and mild winters, permitting
  year-round tourism.
• French, Spanish and English is widely spoken, as well as traditional Arabic.
• The Costa de la Luz is just thirty minutes away by hydrofoil from Tangiers.
• Morocco is easily accessed through Tangiers via helicopter, ferry or on regularflights to Casablanca, Agadir or Tangiers.

We recommend that potential investors take a look at our Investment Property in Morocco - section to see current investment opportunities as well as information that may help you to invest successfully in Moroccan property.

Home/holiday home buyers in Morocco

Morocco offers the chance to purchase luxury property on a stunning 5 star resort with all related facilities at a very low price. The warm climate and excellent on-site facilities will allow you to enjoy outdoor living to the full.

For the second home buyer in Morocco, additional income can be generated from renting the property andproducing good yields especially in the high season. Many people find that expenses (even including mortgage payments) can be off-set for the entire year, purely due to profits from rentals generated during the high season months (June to September).

Lebanon Normal Service Resumed?

Although Lebanon witnessed an economic slowdown in 2007, real estate activity during the year has proved to be quite resilient to the said trend prevailing in the country.

The rise in real estate activity can be attributed to several reasons such as the increase in population, higher demand by expatriate Lebanese, the relatively low taxes in Lebanon, the improvement made in terms of property transfer operations, and the facilitation of foreign ownership.

According to the Directorate of Real Estate, the number of property transactions reached 154,158 in 2007, up by 21.4% relative to 2006. Nevertheless, although the first half of the year saw a good 7% growth, the cumulative yearly double digit rate in mainly coming from a 38% increase in the second half of 2007 in comparison with the same period in 2006.

This half-year rise, in turn, mainly stems from an 82% surge in the third quarter of 2007 relative to the same quarter of 2006 that witnessed a freeze in real estate operations during the severe Israeli war, and to a smaller extent, from the 14% year-on-year increase in the fourth quarter of 2007, noting that in the last quarter of 2006, the number of property transactions more or less resumed its pre-war level.

Property taxes’ receipts increased by a significant 32.2% during 2007 to LP 459.7 billion, but this is again the impact of the 95.3% growth reported in the second half of the year that compares to the odd second half of 2006, which was largely shaped by the summer 2006 war and following events, whereas the previous six months the receipts went down 16.4%. The effect of this second half also changed the trend in the value of property sales which was down by 12% in the first half only to become 33.7% higher when comparing full year 2007 to 2006 and reach LP 6,329,056 million. As for the average value of property transactions, it went up by 10.2% during 2007 to LP 41.1 million per transaction, driven by 55.2% year-on-year increase in the average value of property transactions during the last quarter of 2007, thereby reversing the trend of demand for less expensive real estate that has been consistent throughout the first nine months of 2007 and resulted in a year-on-year drop of 8.1% in the average value of transaction during the said period.

The majority of collected property taxes in 2007 were in Beirut with 42.2% of the total amount. It was followed by Baabda with 19.0%, the Metn area with 15.8%, the Keserwan area with 9.3%, the South with 5.4%, the North with 4.8%, and the Bekaa area with 3.0%

New Red Sea Project

Gamsha Bay, Egypt

Egypt property investment

Dubai, UAE, 5th December 2006: DAMAC Properties, Middle East’s largest private-sector luxury property developer, today announced its entry into Egypt with the launch of its 320 million sq. ft., Gamsha Bay project – the largest development in the region. The agreement was signed during the Arab Strategy Forum 2006 in the presence of the Prime Minister of Egypt, Mr. Ahmed Nazif. The agreement was signed between Mr. Khaled Makhlouf, Chairman of the Tourism Development Authority, and Mr. Hussain Sajwani, Chairman and Founder of DAMAC Holding Group. This prestigious event was attended by Zohair Garranah, Minister of Tourism, Dr. Youssef Boutros Ghali, Minister of Finance, Dr.Mahmoud Mohiddin, Minister of Industry, Mr.Mohammed Mansour, Minister of Transport and Samy Saad Zaghloul, Sectretary General.

Gamsha Bay will be the region’s largest township, located at the north of Hurghada; Gamsha Bay will offer residents a wide array of housing options, entertainment venues and recreational amenities including an innovative extreme sports adventure theme park.

Gamsha Bay will be divided into 9 distinct zones – Gamsha Marina, Marina Park, Coral Golf Course, Sea View Crescent, Creek Retreat, Gamsha Bay, Peninsula Luxury Villas, Downtown Gamsha and Extreme Sports World Theme Park. The township will be built in five phases over 10 years, with the initial components of the first phase completed within the next five years.

“We at DAMAC are delighted to enter this exciting new market, and are grateful to the Egyptian government for their confidence in us, lending their support and enabling our vision for Egypt,” said Mr. Hussain Sajwani, Chairman, DAMAC Group. “Gamsha Bay, with its environmentally conscious design, innovation and architecture will surely set a benchmark for the real estate marketplace in the region and will further influence economic development,” he added.

“I am proud to be present at this prestigious launch. Within driving distance to Cairo, and close to Sharm El Sheikh, Hurghada and El Gouna, Gamsha Bay which is located 60km north of Hurghada will offer the very best of Egypt - with its coral reefs, hills and beautiful coastline. I am sure this world class development will boost the economy of this region and create new attractions for tourists. The other important aspect of this project is on the employment front as this mega project will require several hands to put the masterpiece together,” added Mr. Sajwani.

“The Gamsha Bay project will offer residents an open scenic environment with 39 kms coastline and 25 kms of beaches. Customers will have over 55,000 units that include - villas, townhouses, retail establishments, shopping centers, marinas, apartments and several other amenities to choose from.

In terms of its most unique offerings, Gamsha Bay will bring a first-of-a-kind Extreme Sports Adventure Theme Park to the region. Continuing the tradition of convenience and luxury associated with the DAMAC brand, the township will include spa resorts, a world class golf course, a marina village, educational facilities, cinemas, shopping boulevards and scuba diving facilities.

Among the companies other developments in the region - in downtown Amman, Jordan, within the new Abdali development area, DAMAC Properties has already introduced three projects out of four. The first two projects, ‘The Heights', a 35-storey tower, and ‘The Lofts’ an 8-storey residential development adjacent to the tower were completely sold out in record time. The third project called ‘The Courtyard’ was unveiled in November this year.

DAMAC Properties won three prestigious awards at the CNBC Arabian Property Awards 2006. Property developer bagged the best development award for ‘Oceanscape’, best architecture award for ‘Ocean Heights 2’ and the best website award for the company’s website – www.damacproperties.com. In 2005, the property company was honored with three prestigious Bentley International Awards in the categories of - Best UAE Development for Marina Terrace, Best Architecture for Ocean Heights-1 and Best Developer website at a ceremony in London.

DAMAC Holding has now grown into a global conglomerate with over 6000 employees in 18 countries. Being the first private sector company to make a commitment to Dubai’s real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit.

Even the Martians must have heard the crunch coming from planet Earth, so loud are the announcements being hurled at us almost daily.

So where does one put one's hard earned money in these perilous times?

Well even a Martian can work out that Egypt is about as good as it gets when it comes to property investments. Why?

Well many investors won't need to take credit or a loan to buy their Egyptian property. The reason? Simple. Prices in Egypt are still LESS than a deposit on your average BTL property in the UK. On a £150,000 property a typical buy-to-let mortgage is 85% loan to value so you have to stump up a 15% deposit. That is £22,500.

In Hurghada studios at the British built Pyramids 2 resort start at £16,300.The most expensive studio is £21,000 ...ahem do I hear a Crunch? The only crunch in Hurghada will be the happy property owners sandals hitting the beautiful sandy beaches just minutes from the 7,000 sq m landscaped gardens that adorn the Pyramids 2 property. For those who want to splash out more, say six figures ...well you can't! The most expensive property in the development is £54,500. Half a run down terrace house in the UK crunch zone. In Egypt it gets you a 115 sq m three bedroom Penthouse just 250m from the sea.

With property prices growing at well over 20% per annum now is definitely the time to head for Egypt the eye of the proverbial hurricane in this instance.

Tahir Ali MD of Egypt Revealed who specialise in assisting UK and Irish clients to source quality Egyptian property maintains things are still on the up and up for Egypt.

"We are very much in a period of rapid growth for the Egyptian market. This is being fuelled by massive increases in tourist numbers and now Easyjet is making the Red Sea Riviera more accessible as budget airlines now fly direct to Hurghada. These holidaymakers will need accommodation. So the logical consequence will be that the rental market will now become firmly established in the area." says Ali.

Cyprus - Property For Sale In Paphos - Buy A Piece Of History

It is easy to see why people are drawn to look for Cyprus property for sale in Paphos. Paphos offers some of the most beautiful coastline scenery in the world. Many people come to Paphos simply to relax and experience the Mediterranean lifestyle. History buffs come to Paphos for the ancient Roman and Biblical ruins.

There is also a thriving fishing industry which operates out of the port. For vacationers, Paphos offers a fabulous sunny climate and superb resorts that can meet any budget. Paphos is a thriving modern community which attracts many permanent residents and tourists.

The nearby International Airport links Paphos with many places around the world and direct flights to most major European cities are frequent. Modern highways link Paphos to the other major cities and towns. The town has a major hospital, which offers sophisticated medical procedures to world class standards.

There is also a major sports complex, where games are played year round and several schools, where English is taught as a required subject. Anyone who has looked at homes for sale in the Mediterannean will agree that you should look at Cyprus property for sale, and in Paphos in particular. It will be an asset that you can use and count on.

Purchasing is better than renting - owners never have the worries that renters have. They don’t have to be concerned with the fine print or surprises with their bills - there is no Council Tax and utilities cost a fraction of what most Europeans are used to paying. Owning your own holiday or permanent home ensures that you will feel relaxed and in a comfortable environment that is always available to you. Inexpensive Cyprus apartments are hard to find these days, as the demand for property to meet the rising number of people looking for budget self catering Cyprus apartments has inevitably driven prices up. If you do research on Cyprus property for sale in Paphos you will see that it has been a great investment in recent years.

If you look to the internet you can find several resources that will back up this statement. Tourism in the area is steadily increasing and there is no expectation of a slow down to come. If you buy a Cyprus villa it should be quite simple for you to rent it while not using it, providing an extra income. If you decide to permanently relocate then you should be able to sell your vacation home easily to upgrade to something better virtually any time. Anyone buying here will most certainly be happy with their choice. Just one night of relaxation enjoying the warm Mediterranean breezes will be enough to convince anyone that buying Cyprus property in Paphos is a decision they won’t regret. You will love the lifestyle here, and whether you’re on vacation or relocating to Paphos, buying property there may be the best investment you ever make!