The healthy growth prediction is due to increased state spending and the figure is above estimates from economists who originally predicted growth of 1.6 percent for 2012/13.

International Cooperation Minister Faiza Abul-Naga, commented: “The government aims to increase the growth rate to 4 to 4.5 percent by making larger investments.”

Government investment is to increase by 10.3 percent in the coming year and revenue from taxes and tariffs are expected to boost Egypt’s income to LE392.4 billion pounds in 2013 from LE349.6 billion in 2012.

The announcement joins a string of other positive news for Egypt and many analysts have stated Egypt will have a good year. Egypt tourism figures are bouncing back to levels pre-revolution in 2010 and the country’s ministry aims to raise the rates of tourism even further by focussing their efforts on various global markets.

Minister of Tourism, Mounir Fakhry Abdel Nour, commented: “We will focus our efforts on various global markets, particularly the Arab ones, where the rate of Arab tourists during the first three months of 2012 has witnessed a growth of about 62.9 percent.”

Egypt has enjoyed a tourism increase of 32 percent in the first quarter of 2012 showing signs that the country has bounced back from the revolution in 2011.

Source: Reuters, Hotelier Middle East

The news has certainly attracted attention from British investors after the rankings revealed Egypt has shot up ten places to the top 20 after an impressive recovery from the revolution in 2011.

Managing director of TheMoveChannel.com, Dan Johnson, commented: “In spite of some political unrest in the last 12 months, the availability of extremely low-cost apartments in a destination with a genuine year-round climate, immense historical interest and world-class scuba diving has helped underpin demand in this longstanding favourite for international buyers.”

The positive news has followed another great report from The Telegraph newspaper, which has recently revealed Egypt is leading the global markets in 2012.

EGX 30, a stock market index for securities in Egypt, has reported a growth of 36.1 percent in the first quarter of 2012, ranking the country first among the world’s highest growth indexes.

2012 has signalled a recovery in the Egyptian market and the news has certainly impressed international investors. With a third of 2012 behind us, the winners and losers among the world’s benchmark stock markets are starting to emerge. The fact that Egypt has come top of the winners list is great news for the country.

The growth figure has joined a string of positive news about Egypt after having a good start to the year and has indicated a successful recovery in the Egyptian market.

Rivermead Global have some really exciting developments close to being launched, beach front and one dedicated to water sports enthusiasts, contact us for more information info@rivermeadglobal.com or 0161 6525563

Source: The Telegraph, Arabianbusiness.com

Turkey’s Tourism Minister Ertugrul Gunay announced the positive news resulting in attracting the attention of many international investors. The news comes after an increasing interest in Turkish real estate among buyers from the Middle East including the UAE and Saudi Arabia.

Under current laws it is not possible for investors in the Middle East to buy a property in Turkey, but this is due to change when new rules are approved by Turkey’s parliament.

The Turkish government is very close to changing the current legislation that will allow certain foreign investors to purchase property in Turkey. This has previously been forbidden and industry experts have stated the new rules will spark a high demand from foreign investors.

Turkey’s industry group Association of Real Estate Investment Companies has estimated that the legal change will increase foreign investment in Turkish property to an average of $5 billion a year.

Tourism in the country is expected to rise despite the eurozone crisis and with foreign investment across all sectors hitting $15.9 billion last year, 2012 is expected to see Turkey’s investment figure rise even further.

Engin Cubukcu, senior manager at PricewaterhouseCoopers, commented: “The Turkish market is ideal for foreign investors on a macroeconomic level, with gross domestic product growth, increasing young and growing population, which should create healthy demand.”

Source: Bloomberg, The Wall Street Journal.

Confidence in Egypt’s tourism sector has risen after the country’s Tourism Minister Munir Fakhry Abdel Nur announced tourism levels have peaked to the levels experienced in 2010.

Egypt’s tourism sector welcomed its highest number of tourists in 2010 and the news that the same levels of tourists are returning in 2012 has pleased investors.

The Tourism Minister stated that the number of people booking flights to Egypt in 2012 was more than the reservations in the same period of 2010. He commented: “The amount of flight reservations by tourism companies exceeds what it was in the summer of 2010, and that probably means that the number of tourists visiting Egypt this year may reach that in the peak year, almost 13 million.”

Tourism is one of Egypt’s main sources of revenue and the sector has shown positive signs of recovery since the revolution happened at the beginning of 2011. Recent figures have shown that the first quarter of 2012 has seen a 32 percent increase in tourists visiting Egypt. Between January and March this year, 2.5 million tourists arrived in the country compared to 1.89 million in 2011.

The news will have a positive effect on Egypt and is expected to attract more investors to the region who will be keen to invest in the country’s growing economy. Egyptian tourism officials have expressed their delight at the recent figures and strongly believe Egypt has a positive future.

Source: Middle East Online

Information on Tiba Resort is limited at the moment though we do know it will be the largest of the Tibas, house more facilities and the location to the beach far better then any of the other Tiba Developments. We are now in the process of registering people who are interested in Tiba Resort and want to be sent full details on the day of release.

Tiba Resort Will Sell Quickly

If you are looking for launch day information and are interest in buying on Tiba Resort then here is just a quick tip. The top floor and ground floor always sell out the quickest, with the last release Tiba Paradise 75% of these two floors were sold within the first 24 hours of launch. If specifically require either of these floors then be ready to move quickly.

Tiba Resort Payment Plan

Payment plans are set to be the same as previous Tiba Developments, along the lines of:

• £600 Reservation Fee – refundable for 28 days.
• 40% on Contract
• 45% in monthly or quarterly installments
• 15% on completion.

We can help you set up a free currency account too so that you can pay in Egyptian pounds, saving you money on bank transfers and also saving you a little bit of money on the actual price of the property… making Tiba Resort even more affordable for you. Please Request more information if you want full details.

In 2002, the Turkish government changed the law allowing foreign investors to enter the property market with only some restrictions, which excited investors from all over the world. Some of those restrictions were lifted in 2005 allowing foreign buyers to purchase property in Turkey.

However, the 2002 change in the law only allowed foreign buyers to purchase property on a reciprocity basis. This meant that investors could only buy property in Turkey if their country of residence allowed Turkish investors to buy in that country.

The good news is that this law is about to change. The Turkish government is currently discussing abolishing the reciprocity law so all foreign investors can purchase a property in Turkey.

This is great news for Arab investors, who are currently not allowed to buy property in Turkey. This has been a huge obstruction to foreign investment, especially at a time when Turkey is becoming a popular destination for Arabs.

Since the Arab Spring, more Arabs have been choosing Turkey as it is deemed safer than other Arab countries. Traditionally Arabs tend to only go on holiday and buy property in other Muslim countries, but since the Arab Spring they are choosing safer locations with Turkey being at the top of their list.

The increased Arab tourism is great news for Turkey’s economy and the Turkish prime minister recently agreed visa-free travel deals with Libya, Jordan, Syria and Lebanon to raise Turkey’s influence in the Arab world.

The changes have come at a perfect time for Turkey and the country is now looking forward to Turkish property being in high demand.

Whilst property prices in many markets are still suppressed due to the global financial crisis, property prices in Turkey increased by 6.3 percent in 2011. The only other countries that performed well were Hong Kong and France.

Turkish property will be in further demand after the announcement that foreign buyers will also be able to purchase more property than is currently allowed.

Buyers have been restricted to purchasing one 2.5 hectare plot without the need for permission from local authorities. Now under a new law the maximum plot size will increase to 30 ha, which is great news for investors and Turkey’s property sector.

Source: The National

Tourist numbers in Egypt have increased by 32 percent compared to the first quarter in 2011, rising from 1,894,044 to 2,500,301 tourists in 2012.

The figures have shown Egypt’s gradual and continuous recovery in the tourism sector since the January 25 revolution in 2011 and the news has caught the attention of many investors. Particularly investors in the property sector who are looking to buy well-priced property before tourist numbers return to normal and property prices rise.

Egypt is known as a hub for the region’s most important historical and cultural events that attracts thousands of tourists every year. The news has proven Egypt is still one of the most popular destinations with tourists from around the world.

Figures in March have shown that 926,784 tourists visited Egypt, the highest amount of travellers the country has seen in a while. Emirati tourists arriving in Egypt has risen by 15.4 percent and Arab tourist visits has increased by an impressive 62.9 percent.

Chairman of the Egyptian Tourist Authority, Amr El Ezaby, commented about the recent findings, “These figures reflect the gradual and continuous improvement witnessed by the tourism sector in Egypt. Despite all the challenges Egypt has faced, it also achieved continuous growth month after month.”

The latest figures reported on AMEinfo.com have confirmed the positive growth trends in the number of tourists visiting Egypt. There is certainly a growing confidence in Egypt amongst investors who have witnessed the gradual recovery since the revolution hit last year.

Egypt’s Tourism Ministry promoted the country vigorously as a safe destination to visit and all the hard work has paid off with the latest figures showing tourists are once again choosing to holiday in Egypt.

Source: AMEinfo.com

Property prices in Turkey have risen by 0.78 percent in February compared to January this year showing real estate in the country is a good opportunity for property investors.

The REIDIN.com-GYODER new home price index revealed the value of Turkish property has risen by 0.6 percent month-on-month in February. Since February 2011, the cost of buying a new build Turkish property has increased by an impressive 10.42 percent.

Knight Frank has also produced positive reports on property in Turkey revealing the housing market is performing very well. The company’s report showed the value of real estate in Turkey has risen by 7.7 percent between the final quarter of 2011 and the same period in 2010.

Property investors have taken on board the news and have turned their attention to Turkey after property experts believe the housing market will continue to grow in 2012.

Turkey has enjoyed impressive rates of economic growth during the last two years. It was recently confirmed the country’s GDP rose by 8.5 percent last year and 9 percent in 2010.

Turkey’s property industry is still booming in 2012, especially when buying a property in Turkey is fairly straightforward. Progress with Turkey’s reciprocity agreement and property law has made it even easier for foreigners to buy.

Source: propertyshowrooms.com

The annual event took place at the end of last month and allows diving enthusiasts across the UK to vote for categories including Destination of the Year. Dive Centre of the Year and Liveaboard of the Year.

The DIVER Awards ceremony has taken place annually for 14 years, making them an authentic source for the top players within the diving industry. The Destination of the Year category was introduced in 2003 and Egypt has won the category every year apart from one year when the country came second.

Egypt is a hugely popular destination with divers from all over the world and this year the country beat the Maldives and Indonesia to the top spot.

Egypt’s new director of the Egyptian State Tourist Office in the UK, Omayma El Husseini, accepted the award, “We are delighted to hear that Britain’s divers have again voted for Egypt. Egypt’s strong diving offer, year round climate and historical importance have always provided a diverse holiday for any age group.”

Husseini stated that Egypt has currently gone through political changes for the first time in 30 years and the country is already settling back down to normal, “Everything is still positive.”

Egypt’s Red Sea resorts are a popular choice for divers to go on holiday as the Red Sea Riviera has the largest stretch of coastline and stunning underwater reefs.

The Red Sea’s warm waters and colourful marine life makes Egypt a preferred travelling destination for tourists who want to experience underwater adventures.

Rivermead Global have some fantastic investment opportunities for divers looking for a base in Hurghada, one of our developments offers a private beach and it’s own dive centre plus a guaranteed rental return of 31.5% Nett over 5 years , please contact for more information.

Source: Focus on Travel News/Rivermead Global

Hurghada has all year round sunshine, warm waters and consistent wind conditions that are perfect for kitesurfing (also known as kiteboarding). There are various kitesurfing schools located on private beaches where you can have lessons either in a group or individually with an experienced instructor.

Hurghada’s calm, crystal clear waters are proving very popular with kitesurfers and holidays are very reasonable starting at around £359 for a seven night package.

All kitesurfing schools have various packages for tourists to choose from whether it is a three day beginners course, a two day advanced course or an all inclusive package including flights and accommodation. Some packages even include airline baggage fees for people who want to take their own equipment.

The Red Sea has been a popular spot with divers for many years and Hurghada in particular welcomes thousands of divers every year. Now the area is attracting more sport enthusiasts and Hurghada International Airport is making the excellent conditions much more accessible.

Before the Hurghada International Airport was built, tourists used to endure a three hour transfer from Luxor to reach the popular destination.

Hurghada International Airport is now only ten minutes away and offers tourists a chance to experience some of the world’s best kitesurfing facilities.

Rivermead Global will soon be launching a new beach front development aimed at Kite Surfers and Water Sports enthusiasts, if you would like more information please contact on info@rivermeadglobal.com or 0044 (0) 161 6525563