1 Bed Apartment for sale in Hurghada, Red Sea Riviera/Sinai, Egypt

Following on from the phenomenally successful Tiba Towers 2 (one of Hurghada's fastest-selling development in 2010) and its sister development, Tiba Heights, comes the developer's third projec t- Tiba Palace.

Located just 60m away from Tiba Towers 2, Tiba Palace shares its sister development's proximity from El Ahyaa public beaach and the new shopping mall which started construction in October 2010.

Larger than the developer's previous two projects, Tiba Palace benefits from a larger pool, together with a unique location surrounded by wide boulevards, meaning that the project is not over-shadowed by neighbouring developments so that every balcony has guaranteed sunlight throughout much of the day.

Despite these additional benefits, Tiba Palace shares the same extremely affordable prices as its sister developments, which led to a buying frenzy from interested purchasers when the project was first released in autumn 2010. As a result, this development is now over 90% sold out.

Buyers interested in one-bedroom apartments should be looking at the developer's latest project, Tiba Garden, or Tiba Heights where there are still good availability of one-bedroom apartments. There is still fairly good availability of two-bedroom apartments on Tiba Palace though and so should be of interest to anyone looking for an affordable two-bedroom apartment with a generous payment plan.

Location
Tiba Palace is located in the fast growing area of Al-Ahyaa, which has been recently designated for extensive touristic development, with many hotels under construction.

It is located 15km north of the current border of Hurghada, with the luxury resort community of El Gouna, with its PGA Championship golf course and Abu Tig Marina located just 10km in the opposite direction.

Hurghada International Airport and the town's downtown area are both just 20 minutes away by taxi.

Locally, Tiba Palace benefits from an excellent location, just five minutes walk from the main public beach in the area. A new shopping mall, which will be the largest in the Hurghada area, anchored by a Carrefour hypermarket, is just 500m from here, together with many other planned tourist attractions including a sound and light show.

Facilities & Benefits

Located just seven minutes' walk from a public beach
Good location in the heart of the fast evolving Al Ahyaa area of Hurghada.
Large swimming pool on site
Gardens around the project
Centralized satellite television, telephone and internet links to all apartments
High speed internet to all apartments
Elevators to all floors
24 hour security
Ten years' builders' guarantee
Low annual maintenance fee of just LE2000 (GBP220/EUR250)

Prices
1 bed - £13,200 - £13,507
2 bed - £20,875 - £21,105

Finishing
Polished ceramic tiles throughout
Tiling in bathrooms and kitchens
Windows and doors installed throughout
Rendered walls painted
Electrical installation with power points and light switches
Pre-installation for digital TV and telephone sockets
Stainless steel sink with mixer taps in kitchen area
White porcelain sanitary fittings in bathroom (toilet, sinks and bath/shower) with mixer taps
Pre-installation for air conditioning.

Completion

Construction on Tiba Palace started in September 2010. The development is scheduled for completion on 30 June 2012.

Payment Schedule

Reservation fee of LE5000 (GBP600/EUR670) refundable for 28 days.
40% deposit (less the reservation fee) due upon contract.
45% payable until 31 August 2012 in quarterly installments
15% upon completion