Guide To The Egypt Property Market Part Four - Marsa Alam

Ask someone to name the leading Red Sea resorts

, and they're likely to name destinations including Sharm El Sheikh, Hurghada and Dahab. Names familiar to us all, on the back of the regions boom in tourism over the past decade. Today however, many early bird investors are moving their money further south, to the new resort of Marsa Alam, where it is felt by many will be Egypt's next emerging property market.

Once a small and peaceful fishing village, Marsa Alam has seen a large increase in visitors over the course of the past decade, predominantly due to the opening of the new International Airport in 2001. Today, a large number of major European airlines fly to the resort on a regular basis, ensuring a consistent stream of holiday makers and tourist revenue to the region on a year round basis. Indeed, such is the growth in tourism in the region, that very shortly it is expected to rival the tourist visitor figures seen at the more well known resorts such as Sharm El Sheikh and Hurghada.

The regions almost tropical appearance, with its palm fringed beaches and stunning coral reefs, have allowed Marsa Alam to develop an increasing number of fans within the tourist and travel industry, and increasing number of people are now choosing to return to the resort on a regular basis to take advantage of the stunning climate and clear blue waters.

Fans of scuba diving, the region offers an experience which is unrivalled in the northern hemisphere, and there is a wide array of world class dive sites in close proximity to the resort. For the more experienced scuba divers, there is the opportunity to travel slightly further afield from Marsa Alam on one of the famous liveaboard boats, which offer access to the more distant dive sites in the Southern Red Sea.

As with so many of the larger Egyptian resorts, the focus of Marsa Alam is the large stretches of open and undeveloped coastline with the Red Sea. The lower price of development land in the resort and the surrounding areas have not gone unnoticed by the major hotel groups and property developers, and over the course of the past two years, there have been a number of superb new developments launched in the region. New developments such as Las Cabanas and the Sea Island Beach Resort have already started to put Marsa Alam on the overseas investors radar, and with many new resorts being lined up for the region, it is likely to see greatly increased exposure over the next two years.

Property in Marsa Alam is well priced and in general well located. The large stretches of front line real estate being testimony to the huge development opportunity which is on offer here. Already the Egyptian government is making positive noises about future investment in infrastructure in the region, and this, along with the increased promotion of new developments can only mean good news in the future for the regions real estate industry.

Guide To The Egypt Property Market Part Four - Marsa Alam

By: Mark Burns

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