INVESTMENT INSPIRATION – Simeon and Jennifer Lowe Opt for an Egyptian Adventure

Thirteen years ago Simeon and Jennifer Lowe from the Midlands, aged 42 and 43 respectively, went on a cruise along Egypt’s enchanting Nile, and thirteen years later they have the ultimate souvenir of their travels, property on Egypt’s coveted Red Sea coastline. Simeon picks up the story…

“My wife Jennifer is a real subscriber to Egyptomania and has had a long fascination with the country. When we fell over a glossy brochure for Sunset Pearl resort in Sahl Hasheesh it brought back wonderful memories of our Nile cruise and galvanized us into action to get on the overseas property ladder. After a bit of Googling and a long chat with GEM Estates we opted for two properties within Sunset Pearl, a studio penthouse and a one bedroom apartment, and will be popping out next summer to see how they’re progressing with the build.”

The British mindset is still relatively unfamiliar with the ‘off-plan’ property purchase and some may think Simeon is at best brave, or at worst foolish, but with the scope to cherry-pick the unit and pay below market value prices, it’s a canny move, provided you do your research. Simeon continues, “As it was our first foray into the second home market we certainly wanted to do our homework. Property magazines such as A Place in the Sun, plus plenty of internet surfing, helped to confirm that the Red Sea coastline, Hurghada in particular, was an up-and-coming hotspot and that we would almost certainly enjoy both good capital appreciation and high rental potential. GEM Estates were also attuned to the Egyptian property market and guided us in the direction of Sunset Pearl as despite the slightly higher prices, you’re paying for the privilege of being with the mega resort of Sahl Hasheesh rather than looking in from the outskirts, this means that all of the sporting and leisure facilities are on tap. We plan to keep one property for ourselves, probably the one bedroom apartment as it has a large shady balcony to retreat from the sun, and rent out the other. Ideally our investment will end up paying for itself.”

As foster carers, Simeon and Jennifer don’t have too much time to themselves, but are looking forward to sunshine holidays at Sunset Pearl. Keen but high handicapped golfer Simeon is intent on improving his game on one of the 18-hole courses and both will tackle one of the Red Sea’s most attractive sports, diving. Simeon would love to switch from amateur snorkeller to scuba diver with certificate and there’s nowhere better than Sahl Hasheesh for him to learn. Jennifer and 16-year old daughter together with long-term foster child, also a 16-year old girl, will no doubt be kept occupied in the shopping malls and authentic Egyptian marketplace.

If the Lowes have one tip for buying in Egypt it’s to make sure that you sign an Arabic contract with an English translation, something in which GEM Estates was swift to assist. Only the Arabic version is recognized in Egyptian law so even though it may read as easily as hieroglyphics to the British eye, it’s an absolute necessity.

Property at Sunset Pearl starts from just 75,950 euros for a studio apartment with access to communal swimming pools, bar and gymnasium.

GEM Estates is also proud to announce, in conjunction with the developers of Sunset Pearl that we can now offer an exclusive pre-release opportunity on Pyramisa Pearl, the long awaited sister project to Sunset Pearl also within Sahl Hasheesh. If you want to cherry pick your unit ahead of full public release, including the penthouses which consistently sell out within days, then you can pre-reserve at Pyramisa Pearl exclusively through GEM Estates. Please contact us at your earliest convenience, as we expect the prime units to be snapped up fast!

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Author: GEM Estates
Date: 03/09/2007