Quote:
Originally Posted by neil
Thank you for your statement. Due to the time passed between the allegations and now, many comments have been posted on forums and I know of several buyers either pulling out or considering this (myself included). For the Regency Beach project, we have all paid deposits. Can you assure us that these will be returned, without having to resort to lawyers etc.., if we choose this course of action. This assurance would allow many of us to hang on for these very overdue contracts and plans and excercise the right to cancel within X number of days should they not be what we were expecting.
Also are there any investigations into the company's activities or associated companies? This answer directly from you would count for a great deal as this is not clear from your statement.
Another cause of great concern is the inclusion of / non inclusion of communal areas in the purchased area of apartments. Many other buyers have expressed their intention to pull out if communal areas are included as this dilutes their purchase or increases the square metre price significantly on the net area. can you confirm what is the exact situation with this.
Thank you for your participation. I, like many others, had and still could have really high hopes for the Regency Beach development but there are many questions that need satisfactory answers.
No answer to this post would suggest many things.
Regards,
Neil
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Thankyou for your comments neil, we have no investigation against us and this has been checked on numorous occassions by my legal team, we have a happy client in apt 307 of regency towers who is actually the captain of Police here, my development team has met with the Govenor of the red sea yesterday and we are assured we will have final licence approval within the next 2 weeks. the reason for the delay has been that we have improved the design added some apartments and made the sizes of the units more 'European friendly' and affordable to my demographics.
All your deposits are currently sitting in the Lawyers account and can not be forwarded to me without the license number and signed contract, refunds are available to anyone who has doubt on a no quible basis immediately, we do not make money out of a £1000 deposit our mission is to have happy clients who will be visiting us on a regular basis spending money in our bars and restaurants.
Again I am sorry about the delay but nothing moves fast in Egypt although we intend to make up time on the build schedule, I promise the wait will be worth it as we intend to build the best resort Hurghada has ever seen, please also bear in mind the prices have already gone up over 30% and will be put up again when the licence is granted so if you do cancel you will be giving your profit away.
on the point of net and gross areas, it does include built communial areas this includes stairs, lift shafts, coridoors etc. This is the only way you can own a freehold in egypt it is called a joint freehold. As you probably know you can not own a freehold flat in the UK as someone will own the land underneath and charge ground rent. So this is a real benefit and you will encounter the same wherever you buy in Egypt.
These malicious posts are untrue without proof or foundation, unfortunately in this country competitors that are unable to deliver as good a product and are unable to market as successfully as us turn to dirty tactics.
Please contact me personally if you need any more answers
Andy