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Egypt property The property market in Egypt is primarily focused around the Red sea and Mediterranean coastline. Property investors are also buying in and around the main urban hubs of Cairo, Alexandria and Luxor, The Egyptian governments pro-active policies for attracting overseas investment has created an economic climate geared for growth in the Egyptian property market. Do you agree? Please state your views and opinions here on our new Egyptian property forum.

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Gold Sharm Residence - Page 2

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  #11  
Old 06-07-2008, 11:43 AM
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This is an abridged version of my comments as we are now dealing through a lawyer and I do not want to say anything that may go against us or mention any names.

Can not begin to tell you how much is wrong with our apartment on close inspection. The marble floor is dreadful now you can see it. The edges of the tiles appear to be serrated and there are chips all over the place. The breakfast bar is not at a right angle, sinks and shower tray chipped, only one marble surround in one bathroom, wonky lights and sockets, the main wardrobe is only 16” deep, standard is 22” the list just went on. We then kicked up about not having a proper cooker, pointing out that two rings was not furnished to European standards. Finally they spoke to the project manager who at first was okay but not budging and also pretending not to understand English that well. When my husband pretended he was talking to me only and said “that’s it, we come back with the lawyer” he agreed to make changes and generously give us this gift of £1000.00 worth of work. I politely point out that getting what we paid for is not a gift. However we shook on the fact they would make an effort and project manager even gave us a lift home and was sweet as anything….. Warning if it is not in your contract it doesn’t exist, so the promised small furnishings – towels, linen, cutlery etc never happen. Any one thinking of buying should insist everything is written in the contract down to the colour of the walls and do not accept them telling you it will be okay. Don’t let them make you feel guilty by being offended you do not believe them, you are paying more than enough money.

Sneak in with Egyptian friend to show him mid week. We went back again with same friend on the Friday. To be fair they had started replacing stuff and making repairs but I insisted project manager come to the apartment. On our first visit our furniture is now dark, but still crappy, now the light is back and crappier than ever. He accused me of bring along a super sized coat hanger to prove wardrobe is wrong and offered to only repair the furniture. I pointed out that now I know how much furniture costs would not accept this furniture new let alone repaired. One he had raised his voice to both me and husband and got a mouthful back he ran away. We went through the apartment with a sales manager, the engineer and my friend agreeing amendments including getting the furniture that is in the show apartment.

Met with an English lady I know who has married an Egyptian, she takes us to her office to meet her boss who knows all about the development owner. Her boss tells us what he knows of him. Sneaked in again with her, they are polyfilling the cracks in the floor but doing more damage as they go along. Next door apartment happens to be open and it is perfect. I am now mad

Speak with lawyer he is back in Egypt but in Cairo so meet with his partner and lawyers Brother to translate and agree a plan. They have never heard of Red Sea legal and given we did all our business in the back of a car I think changing is right thing to do. I still don’t know if Red Sea legal still exists but it may be worth finding out. If any one went through them they may find now they have no lawyer if they have problems. Met with lawyer again next day at 10.00pm to confirm our requirements and concerns. We go through our list and point out that since we agreed a rental contract on completion of the apartment we are losing money. Translator says that is only on completion of the complex, we point out the contract says on apartment – we have our bargaining power! Our understanding is that lawyer will talk to owner only and is convinced that he has no idea what’s going on and once he does he will want to make things right.

Finding out from my friends that bought a brand new suite – 2 sofas 2 armchairs and table - in Cairo and got it to Sharm for under £200.00 and a large fridge is £160.00 pounds gives you an idea how much we have probably all paid over for the furniture packs.

We now wait to hear from lawyer
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  #12  
Old 06-07-2008, 12:34 PM
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Hi really sorry to hear of all your awful problems. Carry on and stick to your guns. Furniture packs are over priced. I managed to get ours from a furniture shop for £3900 as opposed to £6000 and I got a choice an alot more for my money. Are you in Sharm at the moment?
Keep us updated and if you havent taken any pics make sure you do as evidence as well
Good luck xx
Alison
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  #13  
Old 06-07-2008, 12:42 PM
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No we are back now and I think the 100 photos I downloaded to the lawyers computer should cover it. We are told by numerous people that Gold Sharm will still be one of the best complexes in Sharm. If you are compling a list of good places to stay I would like to recommend the Amar Sina in Habada, its small, quirky and higgldy piggldy but really nice. Not too many of the rude visitors whose origin will remain nameless. The barman keep dissappearing for long periods, but over all comformtable for the price - I got an internet deal of AI for £13.00 a night each. I imagine it would be a bit crowded by the pool in high seasons.
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Old 06-07-2008, 04:30 PM
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Hello Bailey, I've just read through the whole of this thread and all I can do is offer my sympathies. What a nightmare. Thank you for posting though as your story does at least serve as a warning to other members, which I realise is little consolation to you. I hope you continue to keep us all up to date and of course I hope your situation is resolved satisfactorily very soon.
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  #15  
Old 29-08-2008, 05:15 PM
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Red face niamh

Dear All
We bought in goldsharm in February, went back out in April to go over a very long snag list and had to be put up for free by the developer because they had agreed to have the apartmnet completed when we arrived in April ( no air condiitoning !).

We are due out again in Ocotber and I am assured that all will be compelted! Tghe air condiitoning is in I know and I am hoping that the roof terrace might at least have been started.

Does anyone know whether any of the pools other than the one at the front of the development on the right hadside as you come in the gate have been finsihed and is there any sign of the pub and restaurant etc..?
best
Niamh
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  #16  
Old 23-10-2008, 02:20 PM
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Quote:
Originally Posted by niamh View Post
Dear All
We bought in goldsharm in February, went back out in April to go over a very long snag list and had to be put up for free by the developer because they had agreed to have the apartmnet completed when we arrived in April ( no air condiitoning !).

We are due out again in Ocotber and I am assured that all will be compelted! Tghe air condiitoning is in I know and I am hoping that the roof terrace might at least have been started.

Does anyone know whether any of the pools other than the one at the front of the development on the right hadside as you come in the gate have been finsihed and is there any sign of the pub and restaurant etc..?
best
Niamh
Hi Niamh,
Just read your thread about Gold Sharm, I really hope that your apartment will be finished when you come over this month.
Friends of ours bought there 2006 and in April 2008 they were told the apartment was finished, when we went to the apartment with our friends they were heartbroken, there was still wires hanging out of the wall it wasn't furnished and the place was like a building site.
My friends gave Gold Sharm until the following Sunday to complete there promise of everything done and the furniture installed.
We went back on the sunday and yes the apartment was finished and the basic furniture pack in there, so they paid their final payment.
They Gold Sharm! also had to pay a penalty clause as they had said they would complete on time which they never, they were already 7 months over due on handover and completion dates.
When I came out here 3 months ago i was going to stay in one of the apartments as they had bought 2, but when i arrived i had to find alternate accomodation as there were no services to the resort, no shop, no pub, just one pool which was to the right of the gates as you go in. My friends are now talking to a Lawyer as the site is still like a building site and unrentable only to Egyptian workers who are not that bothered about the accomodation standards.
Gold Sharm are still advertising as finishing on completion times, but they are not completing and i feel really upset about the customers who have been let down by this Developer.
My friends are coming over soon to try and get this problem sorted out with the developer as at the moment the only services are Electric and water run for a couple of hours a day by a generator.
Sorry to go on but it is so dissapointing when clients are told thier properties are ready when they are not.!!!!!
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  #17  
Old 05-01-2009, 09:59 AM
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Hi just joined and read throughthe entire thread. We bought a couple of apartments in gold sharm last year. we went to sharm in the summer hoping to stay in the apartments but they wernt ready fully and furniture is not what you expected at all. since i have been back i have no communication with the developer they never respond!! I am just wondering what you guys that have bought there ended up doing?
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  #18  
Old 05-01-2009, 06:48 PM
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Hi Khosan, thanks for your message about Gold Sharm. I am sorry to hear that you were dissapointed with your apartments but friends of ours have had the same problem. My partner and I run a Real Estate Company here in Sharm, friends of ours bought on Gold Sharm and were told exactly the same as you, that their apartments were ready when really they were not, the project has been on hold for quite a while.
About 2 weeks ago the developer / owner Hatem passed away, so now the family will have to either finish the project or sell it. Either way the project should get finished, as Pioneer Property are now their main agents and they have told us that as far as they know the project is going ahead for completion.
As soon as I hear any more news I will keep you informed.
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  #19  
Old 14-02-2009, 10:42 PM
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Hi, I'm Brian from North Wales, I have bought one of these apartments 3 years ago. I have been out once and the place was just a building site. I paid £33,000 for a 1 bed with roof terrace. Would like to hear from others who have bought here.

I plan to go back out this year to see how things are progressing, as of yet I have not paid my final payment

Would also like to see up to date photos of progress of the site if anyone has been out recently

Cheers
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  #20  
Old 15-02-2009, 01:32 AM
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Hi there just thought i would let you know that Gold Sharm is still not finished and the Developer Hatem has now passed away. Apparently his family has now taken over and has got the resort if you can call it that ,now advertised with Pioneer Property at Viva Mall. They are assuring all buyers that the resort will be completed.
My partner and I have a real estate company here in the UK and in Sharm and we also sold to clients of ours who have not been happy that the resort was not completed , we went to see Gold Sharms progress and it was on hold which we were annoyed about, as we as a company are customer based and we put our customers first.
We have been living in Sharm for the last 6 months but have just returned to the UK on business for approx 3 weeks then we will be returning back to Sharm.
If you would like to get in touch with us you can at Red Sea Riviera Properties, Egyptian Property and we can keep you up to date with anymore news we have on the resort.
best regards janet
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