savanna

Info:

Since the mid-1980s, the Sharm el-Sheikh area has come into its own as a world-class resort destination, with the construction of many hotels and resorts, the simplicity of sun, sea and sand, the luxury of five-star hotels, water sports, shopping and entertainment. Savanna is built over 63,000 M2 with only 18% building area and the rest is lush greenery, 7500m2 swimming pools and lakes

Country	Egypt
Location	Sharm El Shiekh
Distance	5 min. from Na’ema bay and 2 km from Sharm el sheikh international airport.
Architecture	Bungalow
Features	swimming pools and lakes, football, tennis and volley ball courts
Phases	2 phases
Completion Date	June 2011
Use	Residential Resort
Facilities	Five Continents” hospitality group	Fully furnished units
	Swimming pools	Diving center
	Sports Courts	Kids Club
	Shopping center	Restaurants
	Laundry	Clinic
Unit Types	Studio	FLOOR PLAN
	Chalets	FLOOR PLAN
	Villa	FLOOR PLAN

market Analysis

Reviewing analysis of 2009 compared with 2010 results shows a very substantial increase in the supply of commercial property

- thanks in part to the development of new cities to the east and west of Cairo and in part due to projects in the capital itself -

means that years (perhaps decades) of under-development are finally being addressed. For a long time businesses have had little option but to operate in (typically old) buildings originally constructed for residential purposes.
Now they have some choice. Demand is also coming from two other quarters.

Western multinationals are establishing and/or expanding their presence in Egypt, with the result that they need more office space. At the same time, Middle Eastern companies are relocating to Egypt, often in response to more difficult conditions in Dubai and Lebanon. Significantly, this second group of companies understands and is tolerant of the risks of operating in Egypt. Even if the political noises surrounding the forthcoming elections produces widespread unrest, these regional companies are unlikely to reconsider their plans.

The result is that conditions are dynamic. Vacancy rates vary, but are generally low or falling. Looking ahead, we expect that the optimism of protagonists in the office and retail sub-sectors will be justified. There should be a double-digit increase in rentals in these sub-sectors in 2011; further - if smaller - rises are likely in the following years. Over the forecast period (2011-2014), we envisage that capital values will increase rather more than rentals. As a result, the general downtrend in yields should continue. Egyptian assets are being re-rated, and the country's commercial real estate sector is a clear beneficiary of this.
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