Unit Details:
Type: Studio Apartment
Floor: 1st Floor
Position: Middle
Gross Area: 51.25 m²
Roof Top : 25 m² (Private )
Price per m²: 69,000 EGP
Total Price: 3,971,906 EGP
Status: Released and Available for Purchase
Views: Pool and Garden Views
Payment Plans: Flexible options available with 15%-25% down payment and installments over 4-5 years
Key Features:
Cozy and modern studio layout with private garden space
Access to private sandy beach and six swimming pools
Full access to premium amenities including gym, kids’ playgrounds, cafes, and 24/7 security
Located in a prime resort area in Southern Hurghada with easy access to airport and downtown
Project Overview
This luxury residential development in Southern Hurghada offers 446 units including studios, one-bedroom apartments, luxury villas, and penthouses. Located on Magawish Road, the project benefits from stunning sea and pool views and direct beach access.
Residents enjoy:
Private sandy beach (1,300 m²)
Six swimming pools including children’s pool
Landscaped gardens, jogging tracks, and interconnected pedestrian pathways
Cafes, restaurants, retail shops, and concierge services
24/7 security and parking facilities
Modern gym and health club facilities
Convenient access to Hurghada Airport (19 minutes), downtown (15 minutes), and hospitals (10 minutes)
High-quality finishing with an expected completion date in 2026
Buying Guide for Foreign Investors in Hurghada
Ownership & Residency:
Foreigners can own freehold property in designated tourist zones like Hurghada.
Property ownership grants eligibility for a renewable 6-month residency permit.
Investment & Citizenship:
An investment of $300,000+ in real estate or government bonds can lead to Egyptian citizenship after meeting criteria.
Legal Considerations:
Contracts must be officially registered for legal protection.
Engaging a reliable lawyer to review contracts and assist with the purchase is highly recommended.
Required Documentation:
Valid passport with minimum 6 months validity.
Payment Options:
Bank transfers (SWIFT)
Online money transfer services like Wise or Revolut for reduced fees
Cash payments limited to $10,000 or €10,000 per person upon arrival
Local bank accounts (optional)
Additional Costs:
Maintenance fees between 8% and 12% of the unit price (usually a one-time fee)
Optional furnishing and property management fees
Financing:
Mortgages are rarely available for foreigners; installment plans with developers are common.
Resale & Rental Opportunities:
Resale before completion may be possible based on developer policies.
Short-term rentals such as Airbnb are allowed, providing rental income potential.
Taxes:
Minimal or no property tax on residential properties.
No capital gains tax for private individuals.
A 2.5% stamp duty is applicable on resale transactions.
Remote Purchasing:
Off-plan purchases can be done remotely via video tours and electronic contracts.
Secure online payment options available, with handover and furnishing arranged later.
If you’re interested in this studio unit or need help navigating the buying process, please let me know! I’m here to assist you every step of the way.