Red Sea family resort

[paul_69]

Without rock solid Due Diligence we would not touch this project; it is too cheap and to me that either means poor quality or raises alarm bells concerning whether it will ever be built. The site has not changed in a year so it looks like the Developers are hoping to sell it before they begin construction. A recipe for disaster in the current climate!

Hi Peter

This project is not as bad as a lot of people make it out to be. All legal DD report is now complete and contruction of phase 1 has been ongoing all summer and it is now takin shape nicely
The investors that buy in the first phase have no charge for the beach and the second phase Family Resort was always stated there was going to be a charge.

When you say its too cheep the top end villas are almost 300k so i wouldnt say that was cheap. All our off plan appartmenets are very good prices. If you want anymore info let me know and if you and Nick wanna go have a look at it sometime i could maybe arrange it for you..

All the best

Pauk

 

[Peter Mitry]

Let us have a copy of the DD report and we will submit it to our lawyers for checking. If it comes up OK then we should definately meet up.