Development For Sale Safaga Ad:834377

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Egypt > Al Bahr Al Ahmar > Bur Safajah

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EGP£2,340,130,469

(USD 45,000,000)

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Development
For Sale
Bur Safajah
Egypt

PANORAMA SAFAGA RESORT
FOR SALE AT US$ 45 MILLIONS

Dear Sirs,
Panorama Safaga Resort is established over an
area of 150000 square meters in the
distinguished city of Safaga on the Red Sea
which is midway between Hurghada & Marsa
Alam and is linked to Luxor & Aswan. It is
unique in its concept, planning, design, and the
basic services it provides. It is a virgin site and
is completely environmentally protected and
safe. This makes it the most ecologically sound
tourist site in the Red Sea area.
Panorama Safaga Resort is planned and
designed to serve its guests from all countries
who are interested in the Red Sea and Upper
Egypt. It is a sea tourist resort comprising 56
villas, 62 chalets and 150 hotel rooms most with
attractive sea view, in addition to a mall,
restaurants, spa, marina, sports facilities, diving
center, 500 meter long charming beach and day
use cabanas and the necessary infrastructure.
It is a complete self-sustained village. The villas
and chalets are 75% complete and some of
them are already furnished, while the
remaining facilities still remain to be
constructed.
Panorama Safaga Resort is located at a unique
site at a tip of the Red Sea shore with all its
beautiful scenery. The beauty of coral reefs, the
clearness of the water, the tender sloping of its
beach extending to about 100 meters inside the
sea at a depth of not more that 3 meters and the
many species of famous peaceful colored fish
of the red sea are some of the site attractions.
The weather is ideal throughout the year. Air
temperature ranges from 24 C in January to 40
C in August, and water temperature ranges
from 18 C in January to 29 C in August. Safaga
is blessed with crystal clear water, pristine
reefs and unspoiled beaches.
The owners, after having exerted all that
tremendous effort and spent fortunes over 5
years of extensive construction, are currently
facing financial difficulties and therefore are
offering this piece of paradise for sale at the
price of US$ 45 millions for investors who are
willing to take over and complete this Resort.
All documents are sound and available and the
property can legally and easily be transferred
to the new owners. It is expected that the
revenues will cover this investment in few
years since it can operate all year long.

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