Hi guys,
Just reserved a 2 bedroom apartment in marsa alam beach resort with interlink property group in the uk. My sister in law works for Abn Amro in Holland and I asked her about ipi, she said ipi is really safe company to invest with, their record is really good.
A few things I read in this thread dont make sense. Why are you guys talking about egyptian law? if there's an issue with the developer or the building, it's going to be dealt in a dutch court. i am south african, there are plenty of developments from foreign companies and no south african court would deal with something about the development itself. The land has been sold, so they have no business init except if the building was illegally built.
My sister in law confirmed that to me again, she talked with someone from the bank who deals directly with ipi, if there was an issue with the developer the case will be treated in a dutch court, the egyptian court would be involved for issues regarding my title deeds.
My agent was also very clear about it, that is why you should check with your agents too but i am pretty sure you guys have been misleaded.
I have to say, it helps to know somebody that can give you good information but if you have good agent like i have, they should be able to give you the correct information you need. I am really happy with the apartment i bought, the rental guarantee is really good, no way i would get 10% anywhere else in the world today, certainly not in my native land
I own 6 properties in south africa and if i can get 5 or 6% a year that's a miracle!
I have a business in europe and i know the competition puts bad reviews and comments on forum boards, so be careful with that. People posting on this one forum could be working in estate agent companies or building companies and they want to scare investors away.
all i know is they are no scam and they give a great rental guarantee, marsa alam is going to be the biggest resort in the middle east, i read in kuwaiti times port ghaleb is going to have a huge marina with 1000 berths, the prices of the properties are going to explode in 5 years. funny how europeans worry way too much
Sorry for my poor english
Pieere