Las cabanas

[MrSkipsey]

Deano, post your pics mate on the forum if you can. That way its a visual reference of progress being made for all to see. What block did you reserve in?

Im happy with the process so far, although slow. But thats Egypt for you!
Alan at POS is extremely helpful and returns any emails within a few hours.

 

[chriscross34]

Deano thanks very much. I second that Jon, I'd always hoped that any appts purchased in Egypt could be rented out. Although I am not relying upon the income, it would certainly help. I would certainly be interested in knowing what rental arrangements are available.

Deano if you could post your pics on the forum that would be great, otherwise pm and ill give you my email address, thanks Chris

 

[Deanosparky]

prob best if u send me lprivately message and i'll send over photos

 

[Julie Mee]

New to the group !!


Thanks to Mrskipsey I,ve just found out about this forum.
Im buying a 1 bed appartment in block 13 . I started the ball rolling last April and was told it would be ready by next May 2010. Still hopeful this will happen but it would be nice to have more feedback as to what is happening.
I was out there in Nov and stayed in the new hotel it had only been open two weeks , Very nice and no faults if the appartments are as good we wont have any complaints !!

 

[Deanosparky]

welcome

Hi Julie,

Welcome, this is what we need more input to find out if what we are told from the developer is true.

I have also bought in block 13 last April and was told it would be completed this quater of the year. Having paid all but 1 installmenyt i was then told it wouldnt be completed untill end of this year 2009.

Now you have said that you have been told in May 2010.
Either I'm being fobbed off or there is confusion over a completion date.

Can I ask who your agent is please and was it them who told you it would be completed 2010?

 

[Julie Mee]

I'm with property matters overseas. I've always been told that the apartment would be ready in May 2010 , thats in my contract, although they did think that it could be earlier as things were going well.
When I was out there in Nov they had only just got the footings in for Block 13 and Block 12 was just at first storey height.
I was just glad to see it was being built as you here such terrible stories about buying abroad.

 

[chriscross34]

Julie, hi and welcome, this is a really good website and im glad more investors are joining. It is always reassuring to liaise with investors of the same resort.

I am also dealing with Alan from Property Matters Overseas. I've found Alan to be very helpful

Chris

 

[Julie Mee]

So which block and type of appartment are you buying ? When have you been told completition will be? Have you been out to the site at all ?

Its nice to be able to talk to others in a similiar situation.

 

[chriscross34]

Studio

Hi Julie, i've put a deposit down on their only studio currently. think it is block 12 but without checking... I am already investing in a 2 bed room appt in the Marsa Alam beach resort and managed to apply for an unsecured loan to go for the studio. I havent received contract yet only a typical draft template.

In fact I'll have to reapply for my loan. Like Deano, i didn't realise it was going to be May 2010. It is not a major issue for me but i can understand it is a disappointment for some people who were given an original end date.

Hopefully the developer wil come up good.

Keep posting, Chris

 

[Julie Mee]

I have emailed Alan & Jo today to see if they have any further news on the development. If I get any info I will post it for all to see.

I have received a reply from Jo but as yet there is nothing new to report.No new photos and she doesnt know of anyone going out to visit before Sept.

 

[chriscross34]

All, i have asked Alan to ask the developer to confirm how they propose to update investors as the project unfolds eg regular newsletters, photos on the developers website etc.

I received my copy of the contract last week and i am clarifying the delivery/handover date as this is much later than May 2010 that has been indicated on the forum. I need to get the facts and confirm the actual timescales of the various phases before drawing any conclusions

Keep in touch
Chris

 

[Julie Mee]

This doesn't sound very encouraging but will hope the news gets better !!

Julie

 

[Deanosparky]

Hi All,

Chris are you buying in block 13? What apartment number are you?

If your contract says completion later than may 2010, this is a hell of a delay for eveyone!! At this rate they'll be paying us to have one!!!

Keep me informed with your progress. I think i'm going to speak to my solicitor soon just to see what they advise.
I will obviously still purchase, but a delay of well over a year is taking the piss a bit.
speak soon.

 

[Alan Cockayne]

Penalties for late completions

If your contract says completion later than may 2010, this is a hell of a delay for eveyone!! At this rate they'll be paying us to have one!!!

Keep me informed with your progress. I think i'm going to speak to my solicitor soon just to see what they advise.
I will obviously still purchase, but a delay of well over a year is taking the piss a bit.

speak soon.[/QUOTE]

If every investor insists on adding a strong penalty clause for late completions onto their contracts before handing over any money from day one, you could all chuck these poor excuses into a rubbish bin and collectively get income each month for delays.

However, that argument is only as strong as the lawyer you each use. And if he's an Egyptian solicitor, in the developer's pockets, you won't get much joy there either.

Alan Cockayne. Coralife-Style Consultants.

 

[chriscross34]

Alan , you raise an important point about ensuring that a perspective lawyer is totally independent of the development.

Deano, the studio is in Block 12, building 23-24.

I think it is possible that the date specified in my contract assumes a 24 month payment in installments as that would explain the later handover date but i shouldn't assume that until i get a reply from Alan at property matters.

Chris

 

[MrSkipsey]

Deano, the studio is in Block 12, building 23-24.Chris

Ahhhhh....My neighbour! Im in 2323!

 

[debs09]

Deano, the studio is in Block 12, building 23-24.

I think it is possible that the date specified in my contract assumes a 24 month payment in installments as that would explain the later handover date but i shouldn't assume that until i get a reply from Alan at property matters.

Chris[/QUOTE]

Hi everyone, my name is Debs, and I am purchasing a 3bed apartment at Las Cabanas.

My agents are Jo and Alan at PMO, who have been absolutely fantastic throughout my purchase, and have happily answered any queries I have had. If Jo and Alan are your agents, then your contract will probably assume a 24 month payment plan, which does explain the various handover dates, but as far as I am aware, clients can complete earlier than the two-year period if they prefer (obviously the apartments have to be ready first, lol!). I signed contracts on my apartment last May, so I am not expecting to take delivery of it until May 2010.

I will be in Hurghada for two weeks in June, and am hoping to re-visit Las Cabanas whilst I am there, so I will post any updates I get.

Debs

 

[Julie Mee]

Hi Debs,
Welcome aboard, nice to meet another neighbour. Im in block 13, 2523.

If during your visit you could take some photos that would be good to see how things are coming along . I was out there last Nov so keen to see the progress. I can recommend the hotel on site if your planning to stay over in Marsa at all.
Look forward to hearing your news.

Julie

 

[robertoferrante]

Work progression in Oriental Coast

Hi all,
I'm visiting Oriental Coast almost every week, as I'm living in Egypt and bought there, like a lot of friends did, too.

As far as I know, they stopped for a while the constructions of the blocks, to finish the front line villas and reducing, in that way, the dust for the blocks, downwind, due to the major works.
Meantime they are going very fast building two more hotels (Arena hotel and Lagoon Hotel) for giving a better impression to the whole project...
The delivery time should be at the end of the 2 years installment period. Till now the Company always confirm they'll be on time... let's see.

 

[Julie Mee]

Hi Roberto,
Thats great to have someone in contact with whats happening out there !
Have you been living and working out there for long , how are you finding it ?

Julie