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Sharm Bride resort - EGP payments

Discussion in 'Egypt property' started by sportbilly008, Apr 3, 2009.

  1. sportbilly008

    sportbilly008 New Member


    Im new to this forum but am looking for knowledgeable advise.

    I purchased a propery in Sharm off plan back in 2007. All has gone ok with the building(late of course!) with good comunication ffrom Sharm el sheikh real estates. I took the option of payment up front and discount.

    The property is due to complete in a few months and I need to make some final payments. When I bought out there, all the Egyptions wanted was UK £ as it was so strong, but now they want payments in EGP £. I am in the process of setting up a local HSBC bank account. Final payments will total around £10k.

    Any advise on how to make the best of my money what with the exchange rate, etc and how best to make these payments? Direct transfer? Someone told me you get a better exchange rate out there than you do over here?

    I have taken the advise from this forum for insurance in the UK and have had a very good quote from Intasure> Highly recommended and very helpfull.

    I have been offered a furniture pack by the estate agent that seems to good to turn down - 68,000 EGP for A/C's kitchen, furiture, pots, pans, beds, sheets, rugs, tv, white goods, etc. Its not worth doing your self at that price???

    Any advise for the final steps for my completing my propery greatly appreciated.

  2. queenie40something

    queenie40something Senior Member

    Hi and welcome - Rob has bought on Sharm bride. The SRE package looks like it is Mostafas from Idea4furniture which is where I bought my pack from and was very pleased.
  3. sportbilly008

    sportbilly008 New Member

    I would guess so. Tarek has just sent me another email saying they can do a better quality pack coming from Cairo for the same price. Its not worth the flights over and hassel of doing it your self is it?
    Has Rob taken the offer of the week in the hotel and a weeks Nile cruise instead of them payming the penalty for late completion?
  4. queenie40something

    queenie40something Senior Member

    Sorry meant Darren not Rob - they are both members and Im sure In2tense will respond as dont think they were too impressed as to what was offered.

    It is better to get all the furniture from one supplier as saves alot of hassle.

    I am next door to you at Sierra. We are back out 2 weeks tomorrow so let me know if you want any pics taken.
  5. sportbilly008

    sportbilly008 New Member

    Thanks for all your help and advise

    Sharm Real Estates are pretty good with photos and post them all on the web site regular. I bought a 2nd property on Sierra but decided not to complete as I was doing too much!!! One step at a time.....

    Where are you getting flights from at the moment? We are looking to go out again in the summer but can only find Thompson who fly there regular. Ideally I want to fly from any midlands. Jet2 are advertising Sharm but only for April and May from Leeds/Brad. Just wondered if you knew a contact I dont?
  6. queenie40something

    queenie40something Senior Member

    Hi I am fortunate to live near Gatwick so I have booked all this years flights with Easyjet at £150 each return. Used to go with Excel. Try Thomas Cook and Monarch. I have booked a flight for my friend that lives in Birmingham and it worked out alot cheaper for her to travel down to me, stay the night and fly out from Gatwick. You could try the same.
    with Easyjet you need to book as soon as the routes are released.
    Think new one from North is Viking?? Rob and Darren will be able to help you.

    Darren has lots more updated pics than SRE. The pool is looking good I must admit and I have pre ordered a trampoline for us next door!!
  7. in2tense

    in2tense New Member

    Hi Sportbilly

    Great to meet a neighbour.

    Have you purchased a 1 or 2 bedroomed apartment ??

    I would go direct to one of the main suppliers for your furniture package, Sharm Real Estate did their own package on Sierra and this was such poor quality that they had lots of complaints. I am told that they now use one of the main suppliers for their package so will charge you commision on what you get it for.

    I'm over there next week so will be visiting the site along with meeting up with plenty of people from the forums.

    I thought the offer of 1 weeks hotel accom and 1 week's trip was disgusting, but then others might be happy with it.

  8. sportbilly008

    sportbilly008 New Member

    They are just trying to get away without paying the 1000EGP per month for fine for late delivery of sharm bride.

    We have bought one of the 99sq meter apartments. It all came down to what was left and location, location, location! £2k extra for a small balcony, but ours in on the Sierra side and the last 2 95sq meter looked onto the hotel at the back. Ive also got a 3rd floor with the roof terrace. Very looking forward to getting it finalised in the summer and get diving again!

    Tarek has come back with a better quality pack for the price from Cairo. I had some advise from a lady who used to run the help2egypt web sight which doenst seem to be up any more and she said although the packs may not be up to your own taste and quality, they are OK and by the time you have paid for flights and wasted a week shopping, you wont have saved the extra you are paying for someone else to do it. Her advise was also that if you get problems with the AC units or anything else, its helps to be able to call just one person who supplied the lot!?

    Do you have details of the companies who sell the packs direct?
  9. queenie40something

    queenie40something Senior Member

    Hi look at Idea4furniture where I got my complete pack from - you can give them the key after handover and they sort it all out. Mostafa is great. [email protected] if you need to see pics let me or Darren know x

    Mostafa supplies everything in the pack including white goods and air cons and all come with guarantees.

    He is based next door to Sierra
  10. sportbilly008

    sportbilly008 New Member

    Pics and as much info as you have would be great. Have you guys set up a bank account out there?
  11. queenie40something

    queenie40something Senior Member

    Hi - private message me your email address and will send you some links to the pics that people have taken. Yes I have a sterling and LE bank account.

    You can easily set one up at HSBC in Nabq - just take your passport with you but would advise you to set it up at the start of your visit as it takes about a week to process. Make sure you ask for a debit card and then you can view your bank account online.

    They were doing an offer with free insurance but the best is Intasure in the UK.

    Hope this helps - neighbour!

    When are you looking to fly out - there are quite a few of us meeting up in the next few weeks and again in June and you are welcome to join us if you are out in April or June x
  12. in2tense

    in2tense New Member

    Yes I also have set up an Egyptian bank account with the HSBC in Nabq, I get internet banking with them as well as hole in the wall cards, but as Alison says you must do this when you first arrive because it does take a while to get all your cards done.

    We have a 99 SQ Mtr apartment but unfortunately the bedroom balcony overlooks the hotel so it's not much use and only takes space from the bedroom.

    We bought at the show in Birmingham and got all the "It's the last top floor apartment available" routine but thought it was a bargin at £44,000.

    We are in 51 C.

    They are coming along really well, did you get the photo's last week from Sharm Real Estate ??

    We will hopefully be getting a price for the whole furniture package whilst we are over there so will be able to see how it compares with Tarek's.

    I have found out that they will be supplying doors to keep the roof terrace's private.

    I fly out there next Wednesday so if you want any photo's of your apartment then just let me know your details.

    You can contact me at [email protected]

  13. sportbilly008

    sportbilly008 New Member

    £44k is a really good price. I paid more than that. Mine was the only 2 bed with roof terrace left on the Sierra side so we decided to pay the extra and go for it. Thye wanted the same money off me back in 2007 for one on the hotel side. You arnt going to use the balcony on the bedroom anyway. Like you say, it just makes one bedroom smaller. I wouldnt have bought a 99 out of choice.

    Ive applied for an account at HSBC sharm online, so lets see how it goes. Im going to open an account in the UK too so its easy to transfer money.

    I got quoted £90 for a years buildings and contents insurance on the place from Intasure which I thought was really good!

    What did you make of the email from the developer asking for money for the water and electric meters??? I didnt realise I had anything else left to pay other than the maintenance bond. When are you planning on paying the maintenance and what do you make of the electricity/water meters? I worked it out to be over £400??? Let me know your thoughts.

    We are going to hang on as long as possible before we go out to sign and try and get a summer holiday out of it. Fingers crossed. I was hoping that it would all be furnished etc when we first go out to it, but I think that may be wishfull thinking???
  14. in2tense

    in2tense New Member

    There is no way that I will part with a single penny of maintainence until the pool is up and running and all the area is landscaped.

    I'm afraid we will have to pay for the meters and you will probably find that the Wi-Fi will not be free as we were originally told.

    Alot of the problems relating to handover are the same as people experienced on Sierra and you would have thought that Sharm Real Estate would have learned but they just seem to want to get people to sign for handover and thus get their commision.

    I know that at least 1 family who were told their apartment was ready for handover have booked to fly out next week only to now be told that it will now be at least another 2 months.

    Sierra resort does have a developer who seems to be sorting out all the minor problems, Sharm Bride developer seems to have taken no interest at all, however Tarek has told me this has now changed and he will be getting alot more involved with the development.

    We bought cash at the show and got the 10% discount and as a show special offer we got an extra 5% so we really did get a good price, however we asked the developer to put a shower tray instead of a bath and he quoted us £800 !!!
  15. in2tense

    in2tense New Member

    There is also alot of rumours that the one off mainenence fee will need to be topped up by us all in years to come and there has been quite a discussion on the subject on other forums.

    We have also bought a 120Sq Mtr top floor on Sierra and we were then told that it would not be built, so we had to move to an extra block that they have built especially for the 3 blocks they were unable to build, it actually worked out really well for us as we prefer the position we were given.
  16. sportbilly008

    sportbilly008 New Member

    To be fair, I was told at the time that the maintenance would have to be topped up in years to come. Hopefully by not a lot though.

    I bought a 59sq meter in Sieera as well, but decided after a few weeks to back out as I was in the middle of a rebuild at home and was probably taking on too much! I got 15% discount off that as well!

    When are you paying for the meters and furniture pack and how? Will you transfer the money from a UK account to your sharm bank account? Do you know the best way to get the best exchange rate?
  17. in2tense

    in2tense New Member

    I will probably agree a price for furniture packs for both apartments when we go over this time, however it will be the wife who decides who we use, I think you pay a deposit to secure the price.

    I'm really not sure what is the best way to transfer money and will probably take cash over in August, but will see what others recommend nearer the time.

    Alison is probably the best person to ask regarding the meters and when to pay as I know she has already done this on Sierra so I would imagine that the process for Bride will be very similar.
  18. Scotsgirl

    Scotsgirl New Member

    I can't really help you with your financial question but can i advise you to go to a factory in Rowastat where they make beautiful furniture for such cheap prices.

    my friend got a quadruple wardrobe, king size bed, two bedside tables and a dressing table for £160. the furniture is top quality and you can choose your own design.

    I myself am moving to Sharm at the end of the year and shall be going there for my furniture. I think if you shop around you will get your other stuff for much cheaper. I find the furniture packages very expensive. There is also a furniture shop in Dalmait or Dailmat. this is a town an hour out of Cairo which sell really cheap but good furniture and they deliver to Sharm.

    Hope this helps
  19. queenie40something

    queenie40something Senior Member

    Hi when I was researching furniture I went up to Rowaysat and sopke with one of the furniture makers and his quality was very good. However after thinking long and hard we decided we didnt want the hassle of dealing with an electrician for the air cons, plumber for the washing machine, water heater and dishwasher, someone to get the gas bottle, kitchen etc. We wanted to deal with one person so if anything went wrong we didnt have to chase everyone. We bought the package from Mostafa and it was moreorless turn key. Any probs and he sored them straight away.

    Ref the meters - we paid for ours upon handover along with the maintenance fee. I wouldnt take handover until our pool was ready. I am also out soon and this will be the 4th time I have used it myself. We have booked 3 trips this year so far at £150 each return flight so we have already saved a fortune on package holidays.

    Our electric meter is via a top up card which we can get charged up on site - min 50le per top up. We use about £1 a day when we have the aircon on alot. The water is metered and we get billed. Clare from Sharm Holiday Homecare reads the meters for us. We paid an ' insurance ' of 1000 for the water so when the water has been used and we are not around to pay the bill they take it off the 1000. This is charged at 18le per unit and we use less than 2 a week for 4 of us so not too bad.

    I paid a deposit of 65% on ordering the furniture and the balance was paid on completion. I took the money out with me and paid cash when I ordered. You can do a money transfer with Mostafa into his account - Natwest charge around £28.
  20. queenie40something

    queenie40something Senior Member

    Developer asking 11k extra for 2 bed apartments

    Hi all

    I am making this post on behalf of Darren who is currently in Sharm trying to do handover of his 2 bedroom apartment.

    Apparently the size of the 2 bedroom apartments have increased from 99m2 as per the signed contract to 111.5m2.
    Before the developer will carry on with handover he is insisting on an extra 93750egp.
    Buyers are being told if they dont pay the extra they will lose the apartments.
    Darren was handed a letter asking for the extra monies and all buyers of 2 bedroom apartments will receive the letter.

    Are there any agents that can offer some advice - can he do this???

    Alan???? please x
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