Hania Beach, Central Hurghada, Egypt - Due for completion Summer '09.

[realestatemart]

Originally Posted by redangel7861

If this is the case then I believe I may also have to re-assess Hania Beach. An extra £14,000 on the two bed is too much in my opinion. I was always under the impression that I would be paying for the apartment size only. £900sqm is way too expensive for Egypt and is even more expensive than five star developments in Marrakech, Morocco which is a more mature and developed market.

Again, this is all speculation, but if confirmed I will have serious doubts about proceeding.

Very dissapointed

I hope Dan can come and tell us about this

[distant dreamer]

In Egypt it is quite common to pay towards communal areas, but most developments include that in their original price. For example, I'm buying a 120 sq mtr apartment in El Andalous, but when you actually work out the apartment size its around 100 sq mtrs, so the extra 20 sq mtrs is for the "side areas". On their price list it gives a total price, which clearly states including "side areas". It doesn't seem very fair if you are expected to pay extra to the price you have originally been quoted and as you say makes it a very expensive project. For this sort of price you'd definitely be better considering Sahl Hasheesh or even El Gouna, where you can see what you are getting for your money!

[redangel7861]

Originally Posted by distant dreamer

In Egypt it is quite common to pay towards communal areas, but most developments include that in their original price. For example, I'm buying a 120 sq mtr apartment in El Andalous, but when you actually work out the apartment size its around 100 sq mtrs, so the extra 20 sq mtrs is for the "side areas". On their price list it gives a total price, which clearly states including "side areas". It doesn't seem very fair if you are expected to pay extra to the price you have originally been quoted and as you say makes it a very expensive project. For this sort of price you'd definitely be better considering Sahl Hasheesh or even El Gouna, where you can see what you are getting for your money!

I am still awaiting confirmation with regards to extra potential costs relating to the community area.

One thing investors don't like are surprises.

RED

[redangel7861]

I have had a conversation with the developers this morning.

I have expressed my concerns and those of others with regards to the hike in price as a result of the communal charge. The developers have taken this on board and have stated that nothing is set in stone and they are willing to listen on the community charge issue and other issues we as investors may have with regards to the development.

I have a meeting with the directors of Hania in Central London next Thursday the 17th of April. In this meeting I will be highlighting my concerns. If anyone else would like me to put forward their concerns on the development then please PM me any questions you would like me to raise with them.

As stated, nothing is set in stone and the developers will take on board fully any concers that we have so that a solution can be found.

Regards
RED

[Lsab]

Hope all goes well Red, sure it will

[Roger]

Originally Posted by redangel7861

I have had a conversation with the developers this morning.

I have expressed my concerns and those of others with regards to the hike in price as a result of the communal charge. The developers have taken this on board and have stated that nothing is set in stone and they are willing to listen on the community charge issue and other issues we as investors may have with regards to the development.

I have a meeting with the directors of Hania in Central London next Thursday the 17th of April. In this meeting I will be highlighting my concerns. If anyone else would like me to put forward their concerns on the development then please PM me any questions you would like me to raise with them.

As stated, nothing is set in stone and the developers will take on board fully any concers that we have so that a solution can be found.

Regards
RED

Jayzus

This is bad news. In my opinion Hania was slightly highly priced anyway, but I figured the quality, location and potential resale value commpensated for that. As no mention had been made of "public areas" I (perhaps naively) assumed it was all in the price. If the price per meter of the apartment itself is, in effect, going up, I will have to consider whether it's worth proceeding.

Perhaps we're paying the cost of the alterations they're implementing. Time to start keeping one eye open for other opportunities while we see what happens with Hania.

You can certainly tell them you're speaking for me on this particular issue, Red.

And here's me jumping through hoops to get money released in time...

[gazza66]

Originally Posted by redangel7861

I have had a conversation with the developers this morning.

I have expressed my concerns and those of others with regards to the hike in price as a result of the communal charge. The developers have taken this on board and have stated that nothing is set in stone and they are willing to listen on the community charge issue and other issues we as investors may have with regards to the development.

I have a meeting with the directors of Hania in Central London next Thursday the 17th of April. In this meeting I will be highlighting my concerns. If anyone else would like me to put forward their concerns on the development then please PM me any questions you would like me to raise with them.

As stated, nothing is set in stone and the developers will take on board fully any concers that we have so that a solution can be found.

Regards
RED

Can you check out maintenance fees. I have heard they will be approx £10 per sqm. Quite high also. Thanks Red.

[Raptureman23]

Originally Posted by redangel7861

I have had a conversation with the developers this morning.

I have expressed my concerns and those of others with regards to the hike in price as a result of the communal charge. The developers have taken this on board and have stated that nothing is set in stone and they are willing to listen on the community charge issue and other issues we as investors may have with regards to the development.

I have a meeting with the directors of Hania in Central London next Thursday the 17th of April. In this meeting I will be highlighting my concerns. If anyone else would like me to put forward their concerns on the development then please PM me any questions you would like me to raise with them.

As stated, nothing is set in stone and the developers will take on board fully any concers that we have so that a solution can be found.

Regards
RED

My Wife and I have also put down a deposit on a 1 bedroom apartment but if this is confirmed we will be pulling out, i don't know how they can give a guide price then increase this by almost 50%

[gazza66]

Clearly there are some unhappy investors here. The developoment stands to lose quite a lot of business here. Please pass on our concerns and feed back asap Red.

[gazza66]

Originally Posted by redangel7861

I have had a conversation with the developers this morning.

I have expressed my concerns and those of others with regards to the hike in price as a result of the communal charge. The developers have taken this on board and have stated that nothing is set in stone and they are willing to listen on the community charge issue and other issues we as investors may have with regards to the development.

I have a meeting with the directors of Hania in Central London next Thursday the 17th of April. In this meeting I will be highlighting my concerns. If anyone else would like me to put forward their concerns on the development then please PM me any questions you would like me to raise with them.

As stated, nothing is set in stone and the developers will take on board fully any concers that we have so that a solution can be found.

Regards
RED

Pass on our concerns as they could lose a lot of business without a satisfactory conclusion.