LOTUS BREEZE (El-Riad)

[propertywatch1]

Found this on one ofEl-Riads websites. Think i would stay well away !!!!

Lotus Breeze

We feel it is time we responded to a lot of speculation regarding our Lotus breeze Development.

Firstly No More hotels are saying we have received 500,000 Sterling .We must point out this is for 60 apartments sold by them which gives us an average per apartment of 8333.00 Sterling.

Secondly we must point out that as stated on all contracts ALL MONIES should have been paid to El-Riad directly, by paying your monies directly to an unauthorized third party has caused a breach of contract as stated in article 3.

We would also like to point out apartments on this development range from 19000 sterling pounds to 50000 sterling pounds.

An agreed commission of 10% would be payable by us to any agent, now we are been asked for up to 30% which we are not willing to agree to.
Please check your contracts and you will see they are as stated; no agent has any authorization from us to collect any payments unless we have agreed this in writing.

A simple solution would be for all clients to receive a refund from No More Hotels less their 10% commission and to pay El-Riad directly into our stated bank account this would resolve the situation.

We hope this clarifies the position we are currently in, any further enquiries are welcome at :
([email protected])


2009 Feb 28 CORRESPONDENCE


Ref: Correspondence

El Riad Company is here to officially announce all purchasers of El Riad projects that NO THIRD PARTY has any right to correspond to any clients and to collect any documents, as may be directed by lawyers or agents who clients may have purchased through. This is due to extra third parties who are trying to use the situation for their own benefit.

Mr. Mohamed Hussein

El Riad partner

 

[BULLS2008]

Old news Derek!

 

[propertywatch1]

people are still investing with this development company and need to be reminded of the ongoing problems.

 

[NeilHollingsworth]

Secondly we must point out that as stated on all contracts ALL MONIES should have been paid to El-Riad directly, by paying your monies directly to an unauthorized third party has caused a breach of contract as stated in article 3.

This is where all the issues start, MONEY, if your contract states who you should pay this is what you should do, if an agent tells you to pay them direct refuse (unless this is what the contract states and if so get a receipt) they are basically asking you to breach your contract and leaving yourself wide open for trouble.

 

[gcole]

Dear All

After careful consideration over the past weeks and months I have not being able to get away from the facts that ER are just trying to extract as much money from investors in any underhanded way possible with no real sight that we will ever get a property legal or not legal. I have decided that I am not going to continue giving ER any more of my hard earned money.

I think I have explained all the reasons (FACTS) why I have come to this decision and if you wish to see them please follow these links:

http://www.propertyforum.com/forum/egypt-property/16755-pyramids-beach-owners-thread-26.html

Web World Property - Pyramids Beach Hurghada - Page 72

The main fact is, ER is a repeat offender in taking money and not delivering properties so WHY are they going to change now? All that I can see happening is that we all end up paying more and more money to them and eventually we will end up without a property. Out of the many 100’s of investors, WHO has?

So I have taken the decision to move to another development as there is a local, reputable builder that is building a similar development in the same area which has ACTUALLY got workers on, has ACTUALLY got planning permission, will be completed this year and the builder has agreed to accept only the 60% that I would have paid ER as full payment on one of his properties, so this really was not a hard decision to make. I will have a property nearly identical to my original one “PURCHASED” or “NOT” from ER for my remaining money. I will have a contract direct with the builder, stage payments over the completion on a development set at build stages and that has got full due diligence. The biggest incentive though is that I am out of the ER trap.

Anyway I thought I would let you all know what I have found out and If after reading what has been said now and on my prior posts and want to take the same decision I have then PM me for more information or the builders direct contact details then I will be more than happy to help anyone get away from the ER trap.

 

[gcole]

Neil

Yet again you are taking this far too personal for a person who is reportedly not earning anything from all this.

As you stated we are all free to do with our money what we wish and I for certain am not about to give ER any more of my money. All I am doing like you is an alternative than to be caught up in the ER trap, and now it seems as though this trap may be yours as well. If not then accept the freedom of speech and allow people to choose for themselves what course of action to take.

Just be objecting and throwing accusations then it is you that is now showing their true colours, and as for the other statement then how stupid do you sound when you are saying that the planning permission was passed for 4 floors but now three and applying for 4????? Neil I have seen the planning permission and I know what I am talking about. All the Facts I have mentioned in my prior posts are just what they say and the more you fight against that the more you show that you have an ulterior motive.

Whenever anyone challenges the ER “BULL” then you are very very quick to defend them. Why if someone is coming to offer an alternative to throwing all their money into a big hole “ER”, an alternative that they will actually see something for their money why do you just object so severely?? One has to ask one’s self WHY?????

As for the other developer offering the swap including PB clients and not asking any more money, WHY is this a bad thing???? Surely if you were truly on the side of us then you would look at this as a possibility of getting people housed. BUT as I state above maybe YOU have now shown your true colours.

Neil please leave people to make their own mind up and stop trying to make it up for us by backing us into 1 corner where we cannot get out of unless we pay ER.

I have never attacked you personally, so please do not do the same for someone who is just offering and alternative.

 

[NeilHollingsworth]

I am defending my 2 years work not El Riad and where I have evidence of wrongdoing I am trying to ensure people know who the real perpetrators are.

As for the building licence, I have said before but will repeat myself, the old licence was for ground and 4 floors, when El Riad took it back from the master agent they changed the outer building so had to reapply for the licence which was granted for ground plus 3 and they have to apply for the 4th once construction further along than it is now.

You and everyone else are free to put your money wherever you want but you have accused me of putting myself out there for getting people to swap and "my head is on the chopping block" etc... etc... I am just pointing out you are now doing exactly the same so if anything happens with your new project don't forget your head is on the chopping block.

I know the new master agent of your new project and I hope things work out because he seems a good guy and I want him to succeed where others have fallen.

One concern though and I have told him this myself, who did the due diligence?

 

[NeilHollingsworth]

Shall we call it a truce and everyone now knows there are alternatives?

:shakehands:

 

[gcole]

Hi Neil

Just to make my side clear, I have never attacked you or your work, but I have to say that after looking trough a lot of your posts, especially when people have challenged ER’s methods, you have reared up like a caged dog to defend THEM and totally disregarded that all us investors are totally at our wits end with all the “BULL” ER come out with. The reason I said that you are putting your head on the chopping block is that you are now their spokesperson. People are listening to you and the information that is passed through you from ER, including all the lies and false promises.

I understand that you are doing your best but you have to listen to alternatives if TRULY you are on the side of the client, because from where I am standing and I guess a lot more people the same you are standing on ER side of the fence.

But just to reply to a few comments that you made, the licence on PB, I have seen the licence, I know exactly what it says and WHY would a master agent apply for planning, and WHY, IF originally 4 floors were originally granted were 3 only applied for, and WHY did all the sales plans and designs show 4 floors, when they were created by ER in the first place, the list goes on but you cannot get away from the fact that ER signed contracts and took payments on a development that STILL has not got the correct licence.

The thing is with me putting my head on the chopping block I have no problem with putting my head on the block as I am not advising people to invest with ER who on every development have problems and have such an atrocious track record. All I am saying to people is look at the facts and make your own decision if you want to continue giving money to these people.

As for a master agent, all investors would be signing direct with the builder and nothing to do with a master agent. And the due diligence you refer to has met all the necessary requirements and more, unlike some I could mention.

One thing I would like to know the answer to is are you saying that the money paid to ER was paid for the land?

And as for a truce, Neil there is no need for a truce, I have nothing against you, and I hope that you have nothing against me as all that I am trying to do is let people know that there are alternatives than continue giving money to a repeat offender.

 

[NeilHollingsworth]

I have nothing against you or anybody else, people have been through hell and whichever way they go, if they get an apartment it will make me very happy.

 

[gcole]

Hi Neil

Just to clarify, YOU are the Moderator on HRG (Hurghada Residents association) blog site? In other words you are the person who accepts or denies posts allowed on there so due to that fact. WHY have my posts not been posted on the site

This is the post I was trying to put on there, and as you can see just giving fellow investors options, SO pray tell me WHY they have not been allowed????????????????

Dear All

After careful consideration over the past weeks and months I have not being able to get away from the facts that ER are just trying to extract as much money from investors in any underhanded way possible with no real sight that we will ever get a property legal or not legal. I have decided that I am not going to continue giving ER any more of my hard earned money.

I think I have explained all the reasons (FACTS) why I have come to this decision and if you wish to see them please follow these links:

http://www.propertyforum.com/forum/egypt-property/16755-pyramids-beach-owners-thread-26.html

Web World Property - Pyramids Beach Hurghada - Page 72

The main fact is, ER is a repeat offender in taking money and not delivering properties so WHY are they going to change now? All that I can see happening is that we all end up paying more and more money to them and eventually we will end up without a property. Out of the many 100’s of investors, WHO has?

So I have taken the decision to move to another development as there is a local, reputable builder that is building a similar development in the same area which has ACTUALLY got workers on, has ACTUALLY got planning permission, will be completed this year and the builder has agreed to accept only the 60% that I would have paid ER as full payment on one of his properties, so this really was not a hard decision to make. I will have a property nearly identical to my original one “PURCHASED” or “NOT” from ER for my remaining money. I will have a contract direct with the builder, stage payments over the completion on a development set at build stages and that has got full due diligence. The biggest incentive though is that I am out of the ER trap.

Anyway I thought I would let you all know what I have found out and If after reading what has been said now and on my prior posts and want to take the same decision I have then PM me for more information or the builders direct contact details then I will be more than happy to help anyone get away from the ER trap.

 

[NeilHollingsworth]

Just to update the posts have been approved on the other forum.

 

[NeilHollingsworth]

All NMH clients currently stuck in limbo waiting for new contracts and the issues to be resolved. Mohamed has agreed to let you all have new contracts to replace the ones breached by not paying them direct.

There is no extra money needed to be paid, if you are in this position and would like a new contract to replace the one breached please let me know. I am also looking for volunteers from the LB development to carry out some admin work and be point of contact for updates etc... I have one volunteer already is there anyone else out there with some spare time that would like to become a bit more involved in their development.

Thanks.