Sahl Hasheesh

CAIRO: Orascom Development & Management (ODM) in partnership with Joud Fund has recently announced the launch of the new Cape Citadel development in Sahl Hasheesh. The fully-fledged luxury resort is 20 minutes away from Hurghada International Airport. Cape Citadel constitutes of five-star Citadel Azur Hotel, Cape Citadel real estate and an international sailing marina, all connected together by a shared transportation system.

While much of the rest of the world is suffering from high real estate prices and a credit crunch, Egypt is benefitting due to its low property prices. Many UK residents are seeing their money go further in this Middle East country due to the combination of low prices and a good exchange rate. In addition to buyers, developers are noting the interest in Egypt and working to bring more property online quickly. While there are some new Red Sea resorts that are sprouting up, even traditional resorts and cities are seeing a boom.