Bahrawi Investment Company (BIC)

Is a closed private company, established in 1995 and is exempted from income taxes until 2011. It started with a paid-up capital of 20 million Egyptian pounds , which was increased to 40 million in 2003 , for the purpose of gathering another company Loaloa's Suder that owned the plot of land adjacent to the one owned by (BIC).

By that acquisition the company owned 470.000 sq: meters of land with a wide sea front that reached 200m. This land was allocated to the company for the purpose of building 500 units of housing for sale and 500 hotel rooms of 3 Stars standard .

La Hacienda

This sea resort is the first project of (BIC), it is located in South Sinai on the east coast of the Suez Gulf , 208 km from Cairo in Ras sudr ares. Ras surd ares has a unique weather that makes it a destination for all seasons. Constant wide is highly appreciated by both wind and kite surfers, sandy beaches and calm seas are only some of its advantages.

Lahacienda is the closest resort to the middle if the road between Cairo and Sharm , which made it the main rest place for road travelers between those cities.

In contrast to many similar projects, Lahacienda started construction by making a proper infrastruction from leveling the land , making roads , electric ,water supply & drainage net works , a good capacity desalination plant and sewage treatment facility , as the land was void of infrastructure where bought from the Ministry of Tourism .

We have used the best consultants and contractors to do the works in the project and that made lahacienda stand out in a place where short cuts in quality is the role.

We have built and sold 160 units between 1996-1998, but we decided to stop construction after handing over all sold units , together with the main facilities to all our customers in 2001 , due to the recession in the real state market that lasted till 2004.

We have started sales of houses again in mid 2004 and sold 50 units for 11 million pounds to be constructed and handed over between July - December 2006.

In 2002 we opened a small hotel of 96 beds and the gradual increase in its occupancy and rates encouraged us to increase the numbers of beds to 134 by 2005.

Although the future seems promising, we need cash to help exact the sold units , as we received its value in installments over a period of 36 months , will we have to hand-over the units 24 to 12 months after signing the sale contract.

Adding new hotel rooms, marketing and advertisements costs, diversifying the recreation facilities are only examples of factors that can speed up sales and increase resort revenue, but they also require new investments.

Due to the quality of the resort and the relative promptness of the company in delivering promised facilities. Lahacienda name is a valuable as set that can sell many real estate projects if reasonable cost finance was made available.