Professional Documents
Culture Documents
09/12/2008
By
Ricky Bajwa
International Property Consultant
Damac Properties UK
Level 19, 40 Bank Street
Canary Wharf
London, E14 5NR
United Kingdom
Tel: +44(0) 207 719 6036
Mob: +44 (0) 7500 609 497
Fax: +44 (0) 207 719 6001
Contents
Foreign purchasers have the right to own real estate and land in Egypt. Today the government
recognizes the great value foreign investors in property have for the success of the economy and
have set about actively encouraging overseas buyers to Egypt. New laws have been established
to make the Egyptian property purchase procedure more secure. For example, the government
can no longer impound or nationalize any property they wish – a practice that stood for centuries.
These changes, along with a few others, are increasing confidence amongst overseas buyers.
We will gladly guide your through the purchase process in Egypt to ensure you are fully informed
of the facts to avoid any potential pitfalls.
Once you decide on a property, you will need to pay a holding deposit to take the property off the
market while contracts are drawn up.
It is completely usual to negotiate a property’s selling price in Egypt, unless you are buying off-
plan when the price is fixed.
1.1 Damac Properties
DAMAC Properties was established in 2002 and has since grown to establish itself as the Largest
Private Master Developer in the Middle East.
We have an enviable portfolio of projects, several of them with a significant design and demand
advantage that makes them an attractive investment for our investors. The company’s
developments are located in the most desirable and exclusive locations in Dubai. Our
developments are built to a high quality specification that has become synonymous with the
group. We have an established international footprint and are expanding into newer markets. We
have sold to over 18,000 happy clients and this number is growing daily. We have also
succeeded in building significant awareness of our brand in key markets.
Driven by a passion for excellence, luxury and determination to deliver properties to its customers
as quickly as possible, the company is working closely with contractors and providing the
necessary support mechanism to deliver quality and timely completion of projects. The company
is taking every step towards safeguarding its customer’s interest and will deliver 2300 units in
2008 and a further 7100 units by 2010
To give you further insights into our operations it is useful to know that DAMAC Properties is a
business division of DAMAC HOLDING – a well structured conglomerate that is involved in
trading, securities, production of manufacturing material which diversified into property
development and has become the largest private master developer in the Dubai market. All of our
sold out developments to date have achieved phenomenal growth for our clients due to our ability
to secure the best locations for our developments.
2.0 The Development
Remember those good old days when time used to wait for you, as you relaxed in every step of
your leisurely stroll. Embraced so caringly by clean cool air and greeted by warm familiar smiles.
Where life was an art form and every moment of it, a masterpiece. Welcome back to the 1920’s.
Welcome back to life. Launching Concorde at Centre Ville, New Cairo, Egypt. A cluster of ten
blocks, each comprising of several luxury apartment buildings which are 6-storeys and feature
opulent 1, 2, 3 and 4 bedroom apartments. Concorde captures the spirit of the turn of the century
French architecture with its decorative iron railings, stone cornices and tall window openings.
2.1 Facilities
Rivoli is located in close proximity to Park Avenue at New Cairo. New Cairo is the biggest retail
destination in the Middle-East and Centre Ville is also close to Heliopolis and Nasr City.
New Cairo is situated over 350 meters above sea level, boasting a great climate year round. The
fully developed road infrastructure to ensure you stay connected with the rest of the world and the
great infrastructure provide investors with peace of mind.
4.0 Investment Opportunity
Country: Egypt
Master Development: Hyde Park - New Cairo
Project Name: Concorde At Centre Ville
Project Type: Residential
Number of Units: 1
Unit Number: CVB4/2-1/103
Number of Bed: 1
Total Sqmt: 79.64
Buying Price: £43,346.31
Completion Date: December 2012
Currency Used: £ based on £1 = EGP 8.3
Country: Egypt
Master Development: Hyde Park - New Cairo
Project Name: Park Avenue
Project Type: Retail
Number of Units: 1
Unit Number: PAR/G/829
Total Sqmt: 68.4
Buying Price: £237,387.14
Completion Date: December 2012
Currency Used: £ based on £1 = EGP 8.3