Regency Beach Pictures Update

[Lsab]

Hi again simpywimpy - just catching up with your posts elsewhere. I wanted to add two things about your concerns on new members suddenly joining and why they would do that. It would be for the same reason as you came here (and we're realy glad that you did, it's great to have you with us). They're looking for more information. I can vouch for Baz - he's been on this forum for ages and is in the same position as you.

IMO whatever development we're buying on we must look carefully at the information we get and dig deeper. I don't think we should blindly accept the negative stuff, we need proof, but we shouldn't dismiss it out of hand either.

(P.S. Yasser is a common name in Egypt.)

[simpywimpy]

I agree but that seems to be the problem. Everyone is denying everything but I can't find anything concrete either way. I have searched all over. Has anyone else had more luck than I have?

I am hanging in with the deal at the minute because Ive only paid the reservation fee and just hope that more info comes out soon either way. I will be so disappointed though. Is there any other developer offering a similar location/price?

[simpywimpy]

Baz, sorry if I mistrusted you on the mse site. At that point I was completely out on a limb. At least here we are all in the same position

[lizzy2u]

there seems a lot of conerns regards the information going about this development. i would ask these buyers if they have been out to hurghada .do your own homework go out there put your mind at rest or pull out based on facts. If you are spending 20/50 pounds under the circumstances i think it makes sense

[realestatemart]

Originally Posted by simpywimpy

Baz, sorry if I mistrusted you on the mse site. At that point I was completely out on a limb. At least here we are all in the same position

there is other beach fron projects such as Oasis Marina which is considered best deal at the moment but take your time, Rgency beach is a very good project, take your time and last thing i heard contracts should be released and send it to clients i hope this will be done soon

[KAHWA]

is everyone as sick as i am hearing these ugly horrible rumours about my friends Andy and Allison. I would love to know who is spreading them can anyone help.

[andyharris]

Statement from the Developer ‘First Leisure’

Some of you may have read some adverse comments recently published on internet forums about our Company who owns the “Regency” brand and its CEO Mr. Andrew Harris and in particular about so called ‘double-selling’. Although we do not normally respond to ‘gossip’ on forums we have taken the view that for the benefit of our Buyers, on this occasion it is appropriate because of the serious nature of the allegations.
We should first like to say that it is important that Buyers appreciate that contributions to forum’s are mostly made by well intentioned people with a genuine concerns or a wish to pass on good tips, however, forums are also frequently misused by developer/Agent competitors or people with an axe to grind. In addition, sometimes (not always) the information provided by some people can often be one-sided, confused or misguided or occasionally vindictive. The reason why people do this is because they believe they can do so with complete anonymity or comeback. This sense of security is misplaced however because their postings on the websites can be traced and we together with the Egyptian Authorities are presently trying to track down those responsible and commence proceedings against them.
We accept that when dealing with hundreds of Buyers (as we do) there will always be a small number of justified complaints from Buyers and we make every effort to deal with those to the satisfaction of the Buyers - but as you will appreciate you can never satisfy everyone all the time.
We now turn to the issue of double-selling. We understand the practice of double-selling is to sell a property to more than 1 Buyer at the same time.
We believe the Purchase Contracts we use are fair to both the Buyers and the Sellers achieving a good compromise between both parties’ interests. As with the UK property market, our Purchase Contract for Egyptian property provides that the Seller commits to sell and the Buyer commits to buy on exchange of contracts. The Buyer pays an exchange deposit and promises to pay the due amount on completion. On completion we notify the Buyer the property is ready for handover and request the completion monies.
On just 4 occasions, despite doing all we could to assist, the Buyer has either refused or has been unable, through their own financial circumstances, to pay the completion balance. Under the terms of the Purchase Contract (as in the UK) if the Buyer fails to pay the completion monies on completion then the Seller is entitled to revoke the Contract and retain a percentage of the deposit monies already paid and the Buyers are refunded the balance. In this event the Seller is by law entitled to re-market and re-sell the property to another Buyer but only because of the Buyer’s default not ours. This is not double-selling.
We can assure our Buyers that we have never double-sold a property on any of our developments. Indeed to do so would invoke the Egyptian Criminal Code and the Developer can be sent to prison.
If any of our Buyers have any concerns about what they read on the forums or other internet sites we would be grateful to them if they could contacted us directly and we shall answer or clarify any issues they are concerned about including making any enquiries of the Egyptian Authorities. Anyone wishing to clarify the situation is welcome to telephone our office on 002 065 345 0452 or 0044 121 711 3319 or visit our offices to discuss the matter.
Finally, our offices have received literally hundreds of phone calls expressing their disgust at what they have read and offering their support and to all of them we would like to express our sincere thanks and appreciation.
Best wishes,

Andy Harris
Group CEO

[realestatemart]

Originally Posted by andyharris

Statement from the Developer ‘First Leisure’

Some of you may have read some adverse comments recently published on internet forums about our Company who owns the “Regency” brand and its CEO Mr. Andrew Harris and in particular about so called ‘double-selling’. Although we do not normally respond to ‘gossip’ on forums we have taken the view that for the benefit of our Buyers, on this occasion it is appropriate because of the serious nature of the allegations.
We should first like to say that it is important that Buyers appreciate that contributions to forum’s are mostly made by well intentioned people with a genuine concerns or a wish to pass on good tips, however, forums are also frequently misused by developer/Agent competitors or people with an axe to grind. In addition, sometimes (not always) the information provided by some people can often be one-sided, confused or misguided or occasionally vindictive. The reason why people do this is because they believe they can do so with complete anonymity or comeback. This sense of security is misplaced however because their postings on the websites can be traced and we together with the Egyptian Authorities are presently trying to track down those responsible and commence proceedings against them.
We accept that when dealing with hundreds of Buyers (as we do) there will always be a small number of justified complaints from Buyers and we make every effort to deal with those to the satisfaction of the Buyers - but as you will appreciate you can never satisfy everyone all the time.
We now turn to the issue of double-selling. We understand the practice of double-selling is to sell a property to more than 1 Buyer at the same time.
We believe the Purchase Contracts we use are fair to both the Buyers and the Sellers achieving a good compromise between both parties’ interests. As with the UK property market, our Purchase Contract for Egyptian property provides that the Seller commits to sell and the Buyer commits to buy on exchange of contracts. The Buyer pays an exchange deposit and promises to pay the due amount on completion. On completion we notify the Buyer the property is ready for handover and request the completion monies.
On just 4 occasions, despite doing all we could to assist, the Buyer has either refused or has been unable, through their own financial circumstances, to pay the completion balance. Under the terms of the Purchase Contract (as in the UK) if the Buyer fails to pay the completion monies on completion then the Seller is entitled to revoke the Contract and retain a percentage of the deposit monies already paid and the Buyers are refunded the balance. In this event the Seller is by law entitled to re-market and re-sell the property to another Buyer but only because of the Buyer’s default not ours. This is not double-selling.
We can assure our Buyers that we have never double-sold a property on any of our developments. Indeed to do so would invoke the Egyptian Criminal Code and the Developer can be sent to prison.
If any of our Buyers have any concerns about what they read on the forums or other internet sites we would be grateful to them if they could contacted us directly and we shall answer or clarify any issues they are concerned about including making any enquiries of the Egyptian Authorities. Anyone wishing to clarify the situation is welcome to telephone our office on 002 065 345 0452 or 0044 121 711 3319 or visit our offices to discuss the matter.
Finally, our offices have received literally hundreds of phone calls expressing their disgust at what they have read and offering their support and to all of them we would like to express our sincere thanks and appreciation.
Best wishes,

Andy Harris
Group CEO

Hi Andy
this person submited this on El Gouna yahoo group as well so I think its needed to submit your great comment and answer to all these issues there as well
Thanks again for your effort and support to all of us as agents and clients
Regards
George

[simpywimpy]

I have received the above statement from Andy. I did meet him whilst in Hurghada in January and he seemed ok. I visited the site and the towers, along with ones on sale by other companies so I didn't just go in blindly. I also did a company search on both PHW and the solicitor LAW before I sent my money.

Whilst I appreciate the statement, there is nothing in it unfortunately that actually proves what he says. I hope we are all worrying over nothing BUT why have we not had some form of statement from either the court or police authority in Egypt stating the same. Surely, if the police are investigating a vendetta against PHW, then they would be willing to issue a statement to put our minds at rest.

All we have at the minute is who said what to whom. Nothing of any substance.

[KAHWA]

Hi simpywimpy i dont mean to be rude but i think you should stop worrying and just go ahead and do what you feel is best my husband and i have both had dealings with Andy and Allison both profesionaly and socialy and have always found them charming and honest. Please stop fretting you will only make yourself ill.