Port Ghalib – Building on Successful Beginnings

Port Ghalib is being developed into a billion dollar international holiday destination Mecca. It is situated on the Egyptian Red Sea Riviera 280km south of Hurghada and 80km north or Marsa Alam town. The tremendous investment needed for the development was primarily a M.A. Kharafi Group endeavour and now seeks European and Egyptian investment alike, generated by interest arising from international and local tourism.

The investors and asset managers both agree on the importance of promoting Port Ghalib at the Interhousing Expo. The event is significant because it brings representatives and stakeholders of the international property sector together in one place. The opportunity to present Port Ghalib to serious investors is maximized by the fact the development is already active and as such, the benefits can be easily appreciated. The Port has a long-term vision and has invested in a 20-year plan that will ultimately result in more than 25 hotels and considerable options for apartments for personal use or investment.

Focusing on the advantages of Port Ghalib's tourism is important to attract potential overseas investors. The 2007 opening of three hotels, The Palace, The Sahara Sun Sands and The Sahara Sun Oasis, has added to the success of The Marina Lodge Coral Beach Resort (opened in 2005) in attracting divers and holidaymakers alike to the new development. The lifestyle offered by the area is certainly appealing, mixing modern amenities with the local culture of El Quseir and Marsa Alam. This mix should induce many to consider a second home in the marina or near by.

For business visitors the opening of these hotels and resorts provide international standard accommodation for their stay and the purpose built conferencing facilities with a capacity of 1,500, mean all commercial demands can be easily met. The Corniche and Souk complex, comprising bistros, bars, clubs, restaurants, 22 cafes, boutiques and 165 shops will prove that Port Ghalib is the Egypt's first high end global level holiday resort community. When the hotels maximise their occupancy, Egypt’s Red Sea Riviera will be on a par with destinations such as Port Grimaud, Costasmeralda, Puerto Banus, and France's St. Tropez.

Diving and activities

Port Ghalib is seeing enormous growth in the volume of safari dive boats embarking from the marina. The Ports proximity to the globally famous and magnificent dive sites of Rocky Island, Zabargad Island, Brother's Island, Elphinstone and Daedalus Reef, make it the first choice port of operation for all southerly safari routes. All these sites offer mythical temptations to divers from across the world due to their varied and abundant fish species and pelagic life. Let us not forget the awe-inspiring coral formations commonly found in the area.

Moreover, since there is an increase in diving trips and activities, Port Ghalib is also seeing an influx in the number of independent yachts stopping over from Asian waters en route to the Mediterranean. Port Ghalib authorities report an unexpected year on year increase in arrivals since 2005. The intensity of arrivals, and the increasing duration of the average stay, is showing that Port Ghalib's magnetism on the international yachting scene is fast growing to an all time high. What's more, Port Ghalib's proximity to the Nile Valley, together with protected and calm berthing and excellent facilities, combine to make it the port of choice for independent travelers as well.

Marsa Alam International Airport is just a five-minute drive away from Port Ghalib. The airport is the key to the growing connectivity and direct link to European source markets. Divers, adventure seekers, holiday makers, sports fishing enthusiasts are all catered for, as well as cultural and archaeological fans, who can have the adventure of a lifetime exploring nearby historical sites and ruins. The Nile Valley, Treasures of Egypt's Pharaohs and the Eastern Deserts, combine action and fun with culture, relaxation and pampering; Port Ghalib is rapidly becoming the place where people can achieve the ultimate ‘Egypt’ experience.

Investment potential

The fact that Egypt's low cost of living and that Port Ghalib has the potential for colossal capital growth, in a market that is yet to be tapped by British financiers, makes it a lot more enticing for Italian and German tourists. This is since they comprise the largest fraction of 10 million tourists that visited Egypt in 2007.

In early 2007, the waterfront residences in Port Ghalib were formally inaugurated. This holiday home neighbourhood comprises 450 apartments that are right in the centre of the marina. This gives the residents easy access to the Old Port 'Souk' and 'Corniche' Complex.

For investors considering having their money in a property in Port Ghalib, there are certainly worse places to invest: the Port Ghalib property market has already risen by 50% in the course of only 2 years.

Source: Totally Property / Interhousing Expo

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