The Al Hambra 1st Avenue residential project is located close to the centre of Hurghada, on El Mamsha Street, and offers the use of a private beach.
Almost 5 km in length you will find many cafes, restaurants with international cuisine, hotels, shops and nightclubs. The drive from the international airport takes only 5 minutes.
Right on the premises of this residential project you will find a restaurant and a café and above all a well-stocked Carrefour hypermarket with a wide range of goods. In the near future, other shops and services such as a hairdresser, massage, cosmetics, fitness, private medical clinic and more will be opened here.
This location is excellent both for a happy life in Hurghada without the need to own a car, and for successful renting and generating an interesting income.
.
Project description
The resort is being built on a total area of 13,200 m2 and includes residential buildings, a large swimming pool, garden, restaurants, shops, services, hypermarket and parking. It offers 24/7 security, reception, hotel services and property management. The project includes several buildings with elevators and is divided into three implementation phases. The first one offers apartments overlooking Mamsha Boulevard and the sea and is already occupied by the apartment owners. The apartments in the other two phases have views of the pool or Mamsha Street, while the south-facing apartments have side views of the sea and Mamsha Street, the mountains, the airport and the adjacent development. These phases of the project will be completed by the end of 2024, with a phased handover of apartments from January 2024.
Owners of the apartments will have access to a swimming pool and a private beach based on a membership subscription or discounted daily entrance fee basis, approximately 300 m from the residence. The beach is for the exclusive use of apartment owners, their guests and tenants.
Apartment units
In the first phase of the project, most of the apartments are already sold out, however there are still a few interesting apartments with a view of the sea and Mamsha street. If you are interested, please contact me, I will send you a specific offer of available apartments.
The second and third phases still offer a large selection of apartments of different sizes at a better price. There are nice studios (size of 46 - 90 m2) and 2-bedroom units (area of 96 m2) overlooking the pool or Mamsha street, mountains, airport, adjacent development and on higher floors with adjacent sea view.
The prices of the apartments vary according to floor (the higher the floor, the higher the price), size, view and stage of completion (1st, 2nd and 3rd phase). Availability of apartments varies and prices increase as construction progresses. For this reason, it is not possible to list all units for sale here. Please click here to view a listing of some specific apartments, for a more detailed listing please contact me.
The residential units are sold unfurnished. The floors will be tiled, the kitchenette will be finished with ceramic tiles on the wall, the bathroom will also be with ceramic tiles and flooring and fully fitted (toilet, sink, shower). Sockets and switches will be installed in the apartment and connections will be made for the installation of air conditioning. The windows will be made of aluminum.
IMPORTANT NOTE: In accordance with Egyptian law, the size of the apartment is stated including the share in the common areas of the project. The actual floor area of the apartments is approximately 20% less - a drawing of the apartment with dimensions is available.
We offer our clients assistance with furnishing and equipping the apartment. Before completion we will carry out a survey and draw up a space plan of the apartment furnishings. The client then either chooses furniture from a catalogue, or we have it made to measure according to the client's pictures or design. We will arrange for the production and installation of a customized kitchen and other equipment, including air conditioning.
Complete furnishing of apartments will cost you, depending on the requirements and scale, 5000 to 7000 EUR for studio apartments and CZK 7000 to 11000 EUR for one or two bedroom units.
The price of the apartment can be paid either by immediate payment (cash), for which the developer provides a 5% discount on the base price (in the ads on the Remax portal, this is the price after the discount). The base price (without the 5% discount) can be paid for 1 to 3 years without interest. In case you are interested in the installment plan, please contact me and I will give you the specific terms according to the desired length of repayment. The contract deposit in case of installements is 30 % of the base price.
Financing can also be secured by a mortgage loan in the Czech Republic with a pledge of the property in the Czech Republic (American mortgage). If you are interested in such a loan, we will put you in touch with our finance experts.
You can also finance the purchase of the apartment with the proceeds from the sale of your other property. In this case, we will be happy to handle the sale within the RE/MAX network to ensure that the entire process of sale and subsequent purchase is under control.
Owners of apartments in the Al Hambra project are required to pay a one-off amount for the maintenance of the common areas of the project (lifts, corridors, swimming pool, reception, waste management, etc.) in the amount of 10% of the price of the apartment (e.g. for an apartment worth EUR 50,000 this is EUR 5,000).
This amount from all apartment owners is deposited by the developer in a high interest savings account and the maintenance is funded from the proceeds. Every year, the developer prepares an audited management account and provides it to the apartment owners. In the event of a negative balance, the developer shall allocate this amount among all apartment owners in proportion to the size of the apartment unit. If there is an overpayment, it shall be saved for future years. General maintenance is carried out once every 10 years and is shared by all apartment owners.
A private beach exclusively for condo owners in the Al Hambra 1st Avenue, Princess and future Princess Beach projects can be used by condo owners on a subscription basis. The entry fee is EGP 5,000 per person for 1 year, and the renewal fee will also be EGP 5,000 per person per year (subject to adjustment based on inflation, the strength of the Egyptian currency, the country's economic situation and any government-imposed taxes).
Apartment owners who spend only a limited time per year in the resort and do not rent out their apartments on a long-term basis can opt for an alternative daily fee for beach use. This is EGP 125 per person per day. They can pay the fee to the service at the beach entrance, or subscribe to, for example, a week at the AKA office.
Upon payment of the annual subscription fee, condo owners will be issued membership cards to be used for access to the beach. This subscription will also be used by any guests and tenants of the apartments up to the above limit depending on the size of the apartment.
All condo owners who wish to use the beach, regardless of whether they pay an annual subscription or a daily admission fee, will sign a beach use agreement that sets out the rules for use of the beach.
