Red Sea Pearl, Sunset and Isis development

[HORIZON]

49 sqm studios from GBP 55.664 to be exact. The base price is in EUR though and depends on the floor.

As far as I know the whole marketing and sales process from not so long time ago is transferred by Pyramisa to Platinum Investments to manage.

[CMChris]

Originally Posted by scubadoo

I have heard a few rumours that WWD are keeping control but nothing has been confirmed. I have not heard that they are selling units off in sterling though, personally it would not surprise me if the prices dropped. I always thought it was bizarre that all the units were the same price with people getting the best units on a first come first basis. Property is normally sold individually with the location and views being taken into account.
If they are doing this though there must be a claim so that people who have already purchased can pay the remainder in Sterling and not Euros.

No we've been up the sterling/euros route with WWD and final payment will DEFINITELY be in the currency stated on your contract, for us, that's in Euros sadly. And as the apartments aren't due for completion, according to contracts, does this mean we can defer final payment till then, hoping the pound will have gained against the euro?
All this confusion over Pyramisa/WWD is really starting to annoy me now. I have a furniture package lined up ready to be paid for but can't because these 2 companies seem to find it impossible to inform the 'owners' what the hell is going on. I am starting to wonder why we decided to invest.

[scubadoo]

Originally Posted by CMChris

No we've been up the sterling/euros route with WWD and final payment will DEFINITELY be in the currency stated on your contract, for us, that's in Euros sadly. And as the apartments aren't due for completion, according to contracts, does this mean we can defer final payment till then, hoping the pound will have gained against the euro?
All this confusion over Pyramisa/WWD is really starting to annoy me now. I have a furniture package lined up ready to be paid for but can't because these 2 companies seem to find it impossible to inform the 'owners' what the hell is going on. I am starting to wonder why we decided to invest.

I have reserved my euros for the final payment at 1.285, which at the time I thought I was daft but decided to listen to the advice I was given, I'm glad I did now!

As for the WWD/Pyramisa confusion I have to agree totally fed up with it now, I to wish I had not bothered. I am due out to Hurghada at the beginning of December and have another one of the those WWD inspection request forms, you know the ones you fill them out with the time and date you want to inspect and NO ONE TURNS UP!!

The only good thing is that regardless of all the problems the developments are getting completed, so at least we should have something to see for our money.

[realestatemart]

Originally Posted by scubadoo

I have reserved my euros for the final payment at 1.285, which at the time I thought I was daft but decided to listen to the advice I was given, I'm glad I did now!

As for the WWD/Pyramisa confusion I have to agree totally fed up with it now, I to wish I had not bothered. I am due out to Hurghada at the beginning of December and have another one of the those WWD inspection request forms, you know the ones you fill them out with the time and date you want to inspect and NO ONE TURNS UP!!

The only good thing is that regardless of all the problems the developments are getting completed, so at least we should have something to see for our money.

The Company control Pyramisa now id Pyramisa for Touristic Development which belongs directly to the Owner and developer,a and all sales is done through them, now may be to clear all points you have to as WWD to whom to get in contact to finalize all papers and contracts

[CMChris]

Just sent WWD an email, now holding my breath in anticipation of a reply, failing that going onto a 12l tank if someone could change it in 1 1/2hr plz.

[Rivermead Global Property]

As you know i have been trying to get an answer on this for you all, i have spoken to Mark at WWD and he said they are going to continue with Sunset but no others and a statement will be issued. I know they are very busy at the moment and he is back in Egypt at the request of the Red Sea Governor and the directors of the bank that are providing the mortgages as they are having a big press and TV campaign etc... I will get an answer for you as soon as i can and will update all the people i have on the distribution list as normal and also post something on here.

[CMChris]

I have sent 2 emails to the web address on WWD site but both have come back via Mailer Demon. So back to square 1.

[CMChris]

Unless you've made a typo that letter means that Sunset is now complete!!!!!! It was due for completion in October 2009 anyway, so not much difference really. If the year should read 2009 then why have Sunset Pearl buyers received notification from D'Elise designs that the developement would be completed by January 2009 and to order furniture packs ASAP? Until WWD or Pyramisa inform me themselves (which could well be in the next millenium at this rate) I'm staying with the October date as per my contract.

[Rivermead Global Property]

Originally Posted by johnbig1

Good news from WWD, see letter below. This was sent to the agent Our Home Abroad in Portsmouth for their clients so i am sure it is valid for all buyers




Dear Purchaser

I am writing to you regarding your property in Sunset Pearl, Sahl Hasheesh. As you know your purchase contract states that the completion of your property will take place at the end of 2009. We have recently been notified by our constructors that the properties will in fact be available for completion much sooner than originally anticipated.

Due to a change in their work scheme, they were able to begin constructing the development several months earlier than they had initially planned. Consequently, they are ahead of schedule and expect completion to be able to take place in approximately September/October 2008.

Those of you that would like to complete on the earlier date will be able to do so and we will of course be able to give you further information on the mortgage facility prior to completion. I appreciate that some of you may not be in position to complete on your property early, and please rest assured that this is not a problem. You are entitled to wait until the completion date which is stated in your contract.

If you would like to ask any questions on this matter please do not hesitate to email me and in the meantime I will ensure that Our Home Abroad will receive updates on the situation.

Yours sincerely





Michael Lynn
Executive Director

Hi John, Michael Lynn no longer works at WWD. Completion has been put back to April/May by Pyramisa, what we need is a statement as to who is running it now, either WWD or Pyramisa. As far as i know WWD are carrying on with Sunset but then Pyramisa is taking over Red Sea and Isis (Riviera Gardens and Cleopatra). This still needs confirming.

[demon diver]

Hi Neil,

Hows the furniture situation coming along.

Pm me if you are not allowed to promote,thanks