I would pay attention to this contract article as well:
"If the buyer desires to resell the unit , he has to follow the following steps :
• Notify the First Party through registered mail – return receipt requested , of his intent to sell his property, the price requested and mode of payment , Name, nationality and occupation of the new buyer .
• First Party has the First Rights of Refusal to purchase the property .
• If there is no response from the First Party within 30 days after receipt , Second Party can proceed with the sale at the same requested price (or higher) and with the conditions mentioned in his registered mail to the First Party. "

Hi J@y,
When it comes to a resale then you are looking for a different clientel. The offer by pyramisa is 7% guranteed rental for lifelong. Every 5 year they will revalue the rental and hopefully if rental has gone up you will get 7% of that appreciation. In addition every year you can take 4to 8 weeks of holiday in any of their resorts in Cairo, hurghada, sahl hasheesh, luxor, aswan, sharl el sheikh or a nile cruise. So potential customers would be people like me who will go there for holiday once or twice a year anywhere in Egypt and plus get rental without any headache.
I don't see any problem in resale as alongwith me many other bought it.
If you got any other queries contact me .
I am trying to form a group of buyers. i have formed a company to sell my personal holiday allowance. I am offering it to anybody else who wants to rent out their apartment. Check out nilecruisesandresorts.co.uk. This website is still under construction .

regards.

Chandra

Thanks all.

Chandra what is meant Shkrjaga message and what is started in the contract about resale of the unit?

Sorry I did not get you. About the resale, we cannot sell it within 1st year of purchase. We need to inform pyramisa in writing if you are planning to resale it.
does that answer your query?

Chandra

Yes, but are there any restriction on selling it, i.e. are they able to stop the owners selling it?

Thanks

why should i buy in a hotel where possible to have a free flat beside in next door project

As i said earlier, you have to decide what you want to buy? Is your priority rental investment or personal use? You will get studios outside pyramisa for half the price. If you are buying it to use it for yourself or goining to rent it out yourself then it is ok. For me 7% rental income bats the 5% interest here I pay in UK. In addition I get 4 weeks for personal use. Flat came all furnished. No worries about rental management?
If your situation is different then there are plenty of properties around.
All the best.

chandra

yeah chandra every one of us has his own point of view

No it is a freehold property and no way they can interfere with resale.
Hope this helps you.

Chandra

Have had a look at the DD and contracts on this and will be putting down a reservation, thanks for everyones help!!