Diamond Residence is a great buy for any buyer with limited funds who is looking for a good medium to longterm development, but who is a little wary of buying completely offplan and wants to see what they are getting for their money.

Located in the fast-developing Al-Ahyaa area between downtown Hurghada and El Gouna, Diamond Residence is getting close to completion now, meaning that there is no supplement to pay for the development being completed, yet there is little risk as 95% of the construction is already in place.

The development occupies an enviable location in Al-Ahyaa, just 100m from the entrance to the local public beach. It is also less than 5 minutes' walk from the planned new shopping mall in the area.

Although Diamond Residence is a small development, it still has a good range of facilities, including two swimming pools.

The most interesting point about the project though are the prices, which are perfect for anyone looking for affordable property, with one-bedroom apartments from under GBP21,000/EUR24,000 and two-bedroom apartments from under GBP27,000/EUR31,000.

Location

Diamond Residence 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, Diamond Residence benefits from an excellent location, just 100m 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.

Facilities & Benefits

• Located just 100m from a public beach

• Seaviews from some apartments

• Good location in the heart of the fast evolving Al Ahyaa area of Hurghada.

• Two swimming pools 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

• Annual maintenance fee of GBP450

Prices

1 Bed - Min 43 m2 for 20803 GBP / 23978 Eiro / 33248 USD

1 Bed - Max 65 m2 for 31364 GBP / 36152 Euro / 50127 USD

2 Bed - Min 55 m2 For 26670 GBP / 30741 Euro / 42625 USD

2 Bed - Max 65 m2 For 31364 GBP / 36152 Euro / 50127 USD

Payments for this development are payable in USD. The prices in other currencies are for illustration purposes only and will vary according to current exchange rates.

Finishing

• Stone ware ceramic interior floor tiles and skirting boards rustic finish ceramic floor tiles skirting boards

• Ceramic tiles in kitchens and bathrooms on both floors and walls

• Façade painted in single-layer coloured paint and interiors painted in cream

• Interior plumbing in PVC

• Outer carpentry in aluminium or wood surroundings.

• Windows installed with single pane of aluminium covered glass

• Full electrical installation including sockets and light fittings

• Pre-installation for digital TV, telephone and broadband internet

• Sockets for telephone, television and data

• Kitchen equipped with stainless steel sink and mixer taps, counter-top

• Bathroom sanitary fittings in white porcelain (toilets, sinks, baths and showers) with mixer taps and extractor fans.

• Interior carpentry including lacquered doors with handles in chrome/steel/brass.

• Pre-installation for air conditioning.

• Affordable furniture packs available: Studio GBP3,400, One-Bedroom Apartment GBP4,400, Two-Bedroom Apartment GBP5,600.

Completion

Construction on Diamond Residence started in late 2008. The development is scheduled for completion for summer 2010.

Payment Schedule • $1000 initial reservation fee (refundable)

• 40% deposit (less the initial reservation fee) due upon contract.

• 25% three months from payment of the deposit

• 25% six months from payment of the deposit

• 10% upon completion