El Hayat Sharm Owners Forum

[enwild]

Hello,

I'm having serious difficulties obtaining any return on my unit in the El Hayat development. The property has been rented back to the developers for a year now and I haven't received a penny. I'm not having any luck with the developers, they are claiming that they have no cash due to the credit crunch but looking at the reviews on the net the resort looks busy. I never get any response by email. The agent seems helpful but has proved ineffective in assisting so far. I've written this thread to try and find out if other owners are having the same problem and whether together with some strength in numbers we can attempt to find a solution....

 

[enwild]

Thanks for your responses.
I went to Sharm in June last year for the handover, the development was over a year late in completion and they simply refused to pay £3,500 in penalty charges on the original contract and also attempted to refuse to hand over the unit due to a late payment when the bank failed to transfer the funds from my account to them 2 years ago (although they accepted the payment and every one after). There is a guaranteed rental income of 12.5% but they don't seem to be concerned with honouring it. He has issued post dated cheques to some of the owners which have just bounced. I'll attempt to contact the ministers first.
Thanks again for your advice.

 

[thelfamily]

If you have a guaranteed rental contract, I would suggest to save the money you were going to give to silicitors as it might be more than the rent that you promised in the first place. Rather, I would suggest sending an email to the following Mr. Zoheir Garranah, the minister of tourism in Egypt as well as Mr. Mahmoud Mohy El Din , minister of Investment in Egypt . They take immediate action and you will soon hear from the developer to settle the matter with you.
I hope I have been of an assistance to you.

hi Nazab - what about them contacting the Governor of the red sea - would he have the same sort of authority as the minister for tourism and minister of investment?

 

[Alan Cockayne]

Legal issues.

hi Nazab - what about them contacting the Governor of the red sea - would he have the same sort of authority as the minister for tourism and minister of investment?

The Governor may have certain powers, but not to revoke a development license. No matter how large the holding company are, the Ministers are in the driving seat. If you and others contact them in unison, these practices may cease. There are other tenants associations that are putting similar pressure on cases like this.

A local lawyer may not have the bottle to stand up to El Hayat directors. You must take advice before rushing into litigation.

Alan.

 

[jam35]

El hayat

Hi,
I'm in exactly the same situation. I have in vested in EL Hayat at Nabq bay.
The apartment had a 5 year guaranteed rental scheme and I have not received a penny. I can't get hold of the developer and I'm starting to wonder whether I actually own it. It seems impossible to get any sense from anyone. I had thought about pursuing it legally, however, I didn't want to lose any more money. Now that I know there is someone else in the same situation it may be worth us both contacting the developers through a solicitor??

 

[nazab]

Hi,
I'm in exactly the same situation. I have in vested in EL Hayat at Nabq bay.
The apartment had a 5 year guaranteed rental scheme and I have not received a penny. I can't get hold of the developer and I'm starting to wonder whether I actually own it. It seems impossible to get any sense from anyone. I had thought about pursuing it legally, however, I didn't want to lose any more money. Now that I know there is someone else in the same situation it may be worth us both contacting the developers through a solicitor??

I think you should mention who is this developer so at least all members will be aware of this company. This only negatively affects all developers which is not fair. Again I reconfirm, contacting the above mentioned ministries is the fastest, cheapest and most effective way. I am a developer in Egypt in both Sharm El Sheikh and Sahl Hasheesh and giving you the right advice ... and for free !!!

 

[queenie40something]

Hi it doesnt look like they are strapped for cash. There is now a new cafe area at the front of the hotel and the mall open. People comin and goin. We have had a drink inside and it was mostly Russian guests and was quite busy. Nabq in general at the moment is busier than what it has been recently.

 

[enwild]

Thanks for your response nazab.
I've been trawling the internet for a contact email for Mr. Zoheir Garranah and Mr. Mahmoud Mohy El Din but have had no luck. Do you have their contact addresses?
I didn't want to mention the developers for fear of my thread being censored or account being blocked. You can probably find it yourself using any internet search engine and typing "El Hayat"

 

[Alan Cockayne]

I am another owner at El Hayat Sharm and am experiancing the same problems
as you all....has anybody got anywhere yet with lawyers or the names of
people that have been recommended.
I have also heard of owners renting out their apartments and the tenants have
been asked to pay pool money and are being ripped off with water and electricity
bills.
I also believe that until we do something legal about all this it will just carry on
and get even worse.

If owners of properties think that your local lawyer (who did the validity transfer) will help you with these management issues and rental guarantees that are mentioned in contracts, then I'm afraid the minimum fees you were charged will not cover it.... What exactly did you think £300-£500 fees did for you other than hand over the property?

Unless owners get organised with one good lawyer dealing as a "united front" these matters will never get sorted out. Without representation your fees will be taken and any income will be kept as running costs or inflation excuses

p.m. me for advice.

Alan.

 

[harvey1]

Hi
Just joined this forum...not sure how to private mail...

 

[Alan Cockayne]

private messages

Hi
Just joined this forum...not sure how to private mail...

Click on the member's name; click send "private message." It may be possible as a junior, otherwise post 5 general messages on the forum to upgrade your status. This allows others to p.m. youas well.

Alan.

 

[harvey1]

Hi alan do you know of any good lawyers if I got a group of owners together?

 

[Alan Cockayne]

Representation

Hi alan do you know of any good lawyers if I got a group of owners together?

Yes Harvey, my company has an associate law office. I like to give private advice before attempting to go down the advocate route. You really need a collective of fellow owners (in the same situation) to retain an independent representative and push for solutions for you all.

Individually, you will be ignored as managements know most of you don't live in them permanantly so try every trick to grab money in your absence. It seems many Egyptian developers are trying to manipulate fees and squirm out of duties after hand-over and it definately needs stamping out. You can't blame culture for greed and it's not a new phenomena. Some of the earlier Sharm projects aren't finished from over ten years ago and these are now looking like Old Beirut.

Do owners wish their properties to grow in value? If so, stand up and be counted.

Alan. - Coralife-Style Consultants.

 

[harvey1]

Yes Harvey, my company has an associate law office. I like to give private advice before attempting to go down the advocate route. You really need a collective of fellow owners (in the same situation) to retain an independent representative and push for solutions for you all.

Individually, you will be ignored as managements know most of you don't live in them permanantly so try every trick to grab money in your absence. It seems many Egyptian developers are trying to manipulate fees and squirm out of duties after hand-over and it definately needs stamping out. You can't blame culture for greed and it's not a new phenomena. Some of the earlier Sharm projects aren't finished from over ten years ago and these are now looking like Old Beirut.

Do owners wish their properties to grow in value? If so, stand up and be counted.

Alan. - Coralife-Style Consultants.

How much would it cost roughly to persue these matters?

 

[thelfamily]

hi - I was just going to ask the cost as well. It probably would be better if a group of people got together to minimise the costs and presumably a lawyer from out of the area?

 

[harvey1]

Hi
Which block is your apartment in?
Do you know any other owners?

 

[Alan Cockayne]

Legal costs

How much would it cost roughly to persue these matters?

I have just informed thelfamily on the matter, so you may like to confer once you are able to p.m. each other.

Alan.

 

[harvey1]

Hi
Are you an owner in El Hayat?

 

[enwild]

So it looks like there are four of us so far -thelfamily, harvey1, jam35 and me, enwild?

thelfamily-can you p.m. me that message from alan so i can have a look?

 

[thelfamily]

hi enwild - I don't have property there; alan cockayne gave us advice as to some problems friends of ours were having with a developer in egypt. I can't email you yet though, as you haven't made enough postings -sory.