Perfect cleanliness, exclusivity, scale, and excellent service are not what foreigners usually expect from Egypt. But in vain! The isolated town of more than 20 artificial islands of El Gouna, 20 km north of Hurghada Airport, and the club village of Somabay, which occupies the Abu Soma Peninsula 40 km south of the airport, attract discerning audiences. International celebrities often spend their holidays in local villas and five-star hotels of international chains. Many famous Egyptians and not only Egyptians have real estate here.
Both resorts are suitable for both seasonal stays and for living - the infrastructure for this has been created: clinics, international schools and kindergartens, shops, salons. There are foreigners who move here with their families, transfer businesses to take advantage of tax advantages. There are many digital nomads, wealthy pensioners, and athletes, including professional ones. The visa regime is relaxed, and it's easy to get a one-year visa. The attitude of local authorities towards tourists, investors, and entrepreneurs from abroad is reverent. Foreigners are welcome in the country!
Among the residents of Somabay and El Gouna are representatives of more than 40 nationalities from different parts of the world, but most of them are citizens of Western Europe, Russia, Ukraine, the CIS, and the Middle East.
Real estate in El Gouna
Leave the villa or apartment directly to the pier, board a boat and sail through the channel to the open sea to one of the nearby islands. If you're lucky, you'll be accompanied by dolphins! Dock at the picturesque beach and have a picnic with family or friends, enjoy swimming, snorkeling among the colorful fish near the reef. This is how you can spend a weekend living in El Gouna, the Egyptian Venice, as it is often called.
The city of many artificial islands surrounded by canals was conceived and founded in 1989 by Egyptian billionaire Sami Sawris. All construction in El Gouna is carried out by his company Orascom Development, strictly observing a single architectural style combining Mediterranean features and Nubian motifs.
Management of all projects and territories is also concentrated in one hand. The city is kept in perfect order - golf courses, green spaces, lagoons, yacht marinas. A special focus is on advanced technologies of sustainable development: solar panels, sorting and recycling of garbage, priority to non-polluting transport.
Above beauty and comfort in El Gouna, there is only safety. Entry here is possible only with passes, there is security around, round-the-clock video surveillance.
There are several international kindergartens and schools at the disposal of residents, including the El Gouna International School (EGIS), founded in 1998and Manara, Egypt's first boarding school. The city has a well-equipped private hospital, four marinas, more than 100 restaurants, and an airport for private jets
Sports facilities: two golf courses, a world-class squash center, a world-class kiting school, tennis, soccer, and volleyball courts.
In the entire history of El Gouna, real estate is only getting more expensive here, and prices for apartments and villas have doubled in 12 years.Investments in projects are not only profitable, but also safe - there are no construction delays or other unpleasant stories for the developer. The conditions for purchasing housing for foreigners are the same as for Egyptians.
Studios in the apartment complex cost from 140,000 dollars, one-bedroom apartments from 150,000 160,000 dollars, two-bedroom apartments from 250,000 dollars, three-bedroom apartments from 350,000 dollars, townhouses (3+1) from 450 $000, double villa (for two owners) starting from 650,000. Houses are offered in the range from 900,000 to 5-6 million dollars.
In September 2024, sales started in a large-scale complex with its own Tuban marina, which will become the new center of El Gouna. If you are currently purchasing an apartment, you will receive the keys in 2 years. One-bedroom apartments are offered from $400,000, townhouses from $850,000. You can pay in installments: 15% immediately, and the rest within 5 years.
The Kamaran complex under construction does not have its own lagoon, but it will have a spacious territory with a swimming pool resembling a natural reservoir. Real estate here is cheaper than in the Tuban project. Prices for apartments start from $ 280,000, the keys are 2 years after purchase. An interest-free installment plan is also provided for 5 years.It is worth noting that the contracts prescribe convenient terms for installment payments.: You can pay the amount in Egyptian pounds or the equivalent in a foreign currency, choosing what is more profitable for you on a monthly basis.
One of the investment strategies in El Gouna real estate for rent. Currently, it costs from $750 per month to rent a one-bedroom apartment for a long term, from $1,000 per month for a two-bedroom apartment, from $1,300 per month for a three-bedroom apartment, and from $1,800 for a villa.
Short-term rentals are at least twice as expensive. The rates for daily rent depend on the season and dates. For example, during the El Gouna International Film Festival, the Christmas and Easter holidays, and after the Muslim fasts, the cost of renting a home increases several times.
Apartments and villas in Somabei
Bask on the snow-white, perfectly manicured beaches of the Red Sea or go scuba diving to see the inhabitants of the reef and explore the underwater caves? Spend a few hours of bliss in the largest thalassotherapy center in the Middle East or give preference to taming the wave? At Somabay resort, vacations can be really high-quality and varied!
The resort occupies the entire small peninsula of Abu Soma, 40 km from Hurghada. There are 7 km of white sandy beaches on its western side, and 7 km of pristine coral reef on its eastern and northern sides. A wonderful natural heritage, which Somabei complemented with man-made objects!
Like El Gouna, the peninsula began to be built up in the early noughties by one company. Hotels and then residential complexes gradually began to appear on the site of the desert. Today, the project is being developed by one developer, Abu Soma Development.
There are several large hotels in the center of the peninsula, including well-known world brands.: Kempinski Soma Bay, Robinson, Sheraton Soma Bay, The Breakers, The Cascades Golf Resort & Spa. Residents of Somabay can freely use the beaches, pools of these hotels, and attend evening entertainment shows.
The pride of the resort is the sports infrastructure. In Somabay, you can go surfing, kitesurfing, sailing, snorkeling, diving. Underwater descents to the "home" reef are completely safe, as the coral plateau closes scuba divers from the open sea. In addition to water activities, golf is popular (there is an international golf academy), horse riding.
Somabei regularly hosts international sports tournaments, such as swimming, as well as entertainment events. Famous foreign and local bands, DJs and performers give their concerts right on the embankment.
Like El Gouna, Somabay is strictly closed to free entry. To visit the peninsula, you need to receive a personal invitation – QR code – from the owner of the property or buy a tour ticket to the hotel.
Special attention is paid to the safety of residents and guests - 24-hour security is provided in every residential complex and hotel.
It is comfortable to live and relax in Somabei all year round. In winter, it is pleasant to hide in the windless coves on the beach part of the peninsula. In summer, you can hide from the heat on the side of the reef.It is not surprising that there are many people here who came once and who did not want to leave. The appropriate infrastructure has been created for them: a medical center, a Compas kindergarten, a well-known international Gems school, shops and supermarkets from which you can order groceries at home.
There are many different cafes, restaurants and bars in the center. At Seven Fortunes, for example, you can enjoy a cup of delicious coffee while admiringby the sea, in the famous Kokomo restaurant, indulge in fine cuisine.
For the convenience of tourists, a bus runs around the peninsula. Permanent residents of Somabay prefer to rent or purchase a golf cart.The demand for Real estate in Somabay is growing as more and more foreigners learn about this oasis near Hurghada.
Studios and one-bedroom apartments ranging from 40 to 80 square meters. apartments cost from 150,000 to 300,000 dollars, apartments with two and three bedrooms - from 170,000 to 400,000 dollars. Prices for small villas ranging from 100 to 200 square meters. Prices range from $300,000 to $1.5 million. The cost of luxury villas with an area of more than 200 square meters ranges from 800,000 to several million dollars.
All facilities are fully finished for rent. The buyer receives the keys within three years after signing the contract with the developer Abu Soma Development. An interest-free installment plan is provided from 5 to 7 years. Those who sign the contract become lifelong members of the Arena Sports Club.
Apartment and villa owners receive a 20% discount on all services provided by the Somabay app.
If you do not want to wait and are not interested in installments, you can choose a suitable object from the owner. It is in the secondary market that the best offers are now presented - close to the sea or overlooking the sea. What goes in installments is already a little further from the coast - 1-2 km. The top locations from the developer have already been sold out. However, there are rare offers of ready-made excellent apartments with installments (you buy a property with installment obligations that the former owner left to the developer).
According to realtors, among the buyers of real estate there are those who are looking for a holiday home, and those who are considering Somabay for relocation. There are also a lot of investors. Prices for some properties have already doubled over the past few years, and the trend towards further growth is obvious.
Thank you for your help in preparing the material:
Anastasia Hee, director of the agency KIKO Real Estate
Olga Kuznetsova, CEO Somabay View
