This touristic resort is located on a prime piece of land overlooking Naama Bay, the heart of Sharm El Sheikh, offering excellent rental opportunities both long and short term.Siesta, Naama Bay, Sharm El Sheikh, EgyptThis touristic resort is located on a prime piece of land overlooking Naama Bay, the heart of Sharm El Sheikh, offering excellent rental opportunities both long and short term.Prices from 259,840 EGPEgypts 2020 Vision Tourism 2020 Vision is the World Tourism Organisations forecast of tourism in the first 20 years of the new millennium for every major tourist destination around the globe. It forecasts that Egypt will remain the Middle Eastern regions largest tourist destination receiving country with over 17 million international tourist arrivals. The expected growth rate in international tourist arrivals for the period 1995 to 2020 is above the average for the Middle East and indeed for the world, at 7.4%.Naama Bay, Sharm El Sheikh is popular vacation spot and is home to a number of international bars, restaurants and night clubs with an attractive pedestrian promenade running next to the beautiful Red Sea and sandy beaches.With limited build area left to develop, Naama Bay has seen more growth than any other location on the Sinai Peninsula and is an ideal location for a buy to let property or to enjoy as a holiday home. All this makes Siesta one of the strongest off-plan developments currently available in Sharm el Sheikh.Key Investor BenefitsThe property market in Egypt is now regarded as a solid reality of the market. The demand for real estate is increasing largely for both the acquisition of holiday homes and pure investment. There are numerous reasons for choosing Egypt as a location where to invest money:*Warm desert climate with temperatures ranging from 20C in winter to 50C in summer creating a year-round tourist season*Year round rental season*One of the best diving locations in the world*No VAT on property purchases*No Egyptian Inheritance Tax*No capital gains tax*Low income tax*Low cost of living and low maintenance costs*Regular direct flights from most European destinations*Fast growing tourism sector*Strong economic growth and increased investment in infrastructureLocation of Siesta, Naama Bay, Sharm El SheikhThe Google Earth co-ordinates are 275415.99 N 341927.98E.The Development Siesta is located on a prime piece of land overlooking Naama Bay, the heart of Sharm El Sheikh. The project constitutes three residential buildings and various commercial shops all low rise and low density, comprising 50 units varying in size from 37m2 - 80m2 of surface space, all units will have a balcony with views of either, the sea, bay, mountains, pool or gardens.The apartments are set in beautiful gardens with 3 swimming pools with the commercial area acting as a natural barrier between the main street and the residence affording our owners peace and tranquillity in the residential resort.The design of the buildings will be on two floors with an internal court, gardens and the access to the various units on both the ground floor and first floor.The Developer has been operating as a developer for the past 5 years in the real estate and commercial markets in Sharm El Sheikh. The company is privately owned and the owners partake in the daily running of the company. The Developer covers all stages of development, from marketing, architectural, planning, site management and rental of both residential and commercial properties.Siesta apartments have all been designed to have a spacious lounge and bedroom areas. The interiors and exterior finishing are of a very high standard and particular attention is paid to the bathroom and kitchen, with lots of large windows throughout the apartment providing ample natural light and ambience. The project has been designed by Italian architects and conforms to European construction and hygiene standards whilst respecting all Egyptian regulations.All apartments will have a balcony (7.5