Chalet for Sale in NORD - North Coast By IL Cazar Developments - Delivery Year 2025

Introduction:

The North Coast of Egypt is a popular holiday destination known for its beautiful scenery, restaurants and nightlife. Recently, a new compound called NORD has been developed and is quickly gaining popularity among vacationers. As a lawyer, I have reviewed the legal aspects of the NORD compound and would like to provide an overview for potential buyers and renters.

Legal Entity:

NORD is owned by Misr Italia, a leading real estate developer in Egypt. The development is a gated community that offers a variety of amenities and services to residents and visitors. Misr Italia has obtained all necessary permits and licenses to build and operate the compound in accordance with Egyptian law.

Property Types:

The NORD compound offers a variety of properties, including apartments, chalets and villas. Each type of property has its own unique features and amenities. Buyers and renters should carefully review the property options to determine which best suits their needs.

Ownership Rights:

All property in Egypt is subject to the Egyptian Civil Code. Misr Italia has obtained all necessary permits and licenses to develop the NORD compound and each property within it. Buyers and renters will be required to enter into a contract that outlines their rights and obligations. It is essential to review these contracts carefully, to ensure that they fully understand their rights and responsibilities.

Maintenance Fees:

As with most gated communities, NORD has an association that is responsible for maintaining the common areas, such as the pool and landscaping. Residents and visitors are required to pay an annual maintenance fee, which covers the cost of these services. The fee varies depending on the type of property and the size of the unit.

Conclusion:

NORD is a world-class development that offers a fantastic range of properties and amenities. As a lawyer, I can confirm that Misr Italia has obtained all necessary permits and licenses to build and operate the compound in accordance with Egyptian law. For those interested in purchasing or renting a property in the NORD compound, it is essential to review the contract carefully and understand their rights and obligations. Additionally, it is important to factor in the annual maintenance fee when considering the cost of ownership.

https://www.nordnewalamein.com/NS49098

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