Viva Reef development Nabq, Sharm

[Odd-bod]

Hi Jojo,

The bad news is the rate went on to drop to 8.6. I have a special arrangement to pay the first installment at the end of October, so I will see what happens over the next 2 months, but that is £3,500 of a difference.

 

[jojo]

i know its typical that the rate drops when its time to pay up. it certainly puts the whole purchase price up quite a bit when the rate is as bad as it is now. fingers crossed it will pick up a bit soon!
good luck
jo

 

[Damon36]

Hi, I have used HiFX for my second payment. They seemed ok, but I had to do all the calling and chasing up as they said they could not identify my payment (which they had received) from my bank. They did not notify me that they could not indentify it, I just rang them as i was concerened, so be aware! As far as I am aware Pioneer have now received it.
Pioneer have also emailed me with the latest pictures of inside of the apts and said that costs have gone up as they are into phase 2, but not said by how much. Does anybody know how much the 2 bed apts are now?

 

[Odd-bod]

Hi Damon

47500 for 1st & 2nd /I think 49250 ground & 52 250 top floor.

Aud

 

[Odd-bod]

Hi JOJO

I was in Sharm last week- the first few pictures are of your apartment & the rest are of the show house. It looks good. I was getting my arm twisted....

Damon- yours -as is mine is still at the ground floor level for some reason they have started on the far side blocks.

Karen told me that a belguim man has bought up unseen the 1 bedroom properties & another building has been released.
I have a few more if you want to PM me with your e-mails & I will send them

Audrey

 

[Damon36]

Hi Audrey
Thank you for the information, not sure why ours are still at ground level but still got about 15 months to go i think?

Thanks
Damon

 

[dukes]

Hi Everyone

Have just returned from Sharm yesterday, had no intention of buying a property but when we received a leaflet through our hotel door could not believe the prices so after being with Pioneer Properties for seven hours have put a holding deposit on building 12 apartment 3 at Viva Reef. We are so excited about it and also thrilled with this site so that we can share experiences.

Does anyone have any knowledge about Pioneer Properties regarding their track record?

 

[queenie40something]

Hi Dukes congratulations of your purchase. There are lots of us on the forum that have now bought in Sbarm. I have heard of Pioneer but dont know any one that has used them Im afraid.

We bought in Sept 07 on Sierra Nabq and had handover last summer. I got the visas and poa from El Tor last summer. We have been informed by our lawyer that our registration in the courts is now complete. This process took about 5 months.

There are some very informative threads like furniture and legals on the forum. If you need any assistance navigating the forum please dont hesitate to ask.

Good luck

Alison

 

[Damon36]

Hi Dukes
No previous experience from Pioneer, but they do seem ok and pretty good as agents go. There has been some good information on this thread with money transfers etc. Any questions, just ask and ill try and help out.

Hi Audrey
I would like more pics but i am unable to post me email address as i am not currently an 'active member'

Thanks

Damon

 

[dukes]

Hi Alison and Damon

Fantastic to hear from you both and great that we can share knowledge. Did either of you have a copy of the contract before you paid your 40%.

The weather was great last week and we had a fantastic time.

When we went to the building site all the men were hard at work, unlike some in Britain, and we were taken to a 1 and 2 bed apartment that had been tiled but not had the second fix done. The golf course was well on its way, 9 nine holes done and now starting the next 9.

We know it is a long way off but we can't stop talking about it, we can feel a party coming on.

Eileen and Dave

 

[queenie40something]

Hi Eileen and Dave

Mine is a different development and I paid in full. Im sure others will answer. We have another forum member out at the moment staying in his apartment on Sierra for the 1st time. When we were out in December we went on the quads to the Mangroves ( fantastic morning out with lunch ) and drove the quads round the back of the ring road and the golf course is coming along.

We were impressed with the new Soho Square as well.

Have you been given a handover date yet?

Im back in April and cant wait xx

 

[Damon36]

Hi Eileen and Dave
it is very exciting, but things can get difficult. I did get a draft copy of the contract and passed it to my lawyer in Sharm (not a pioneer lawyer). He did query a few things but the developer wouldnt change them. From what i recall one of the main issues was the maintenance fees could increase each anually. But it would obviuosly be best for you to reveiw before any big commitment.

Alison
The quads sound great!!whereabouts is Soho Sq?

regards

Damon

 

[queenie40something]

Hi Damon - the Mangrove quad trip is stunning. Lasts about 4 hours. Get taken quite deep into the mangroves, stop for a swim and a lovely lunch of freshly grilled fish, potatoes, salad, dips rice and soft drinks then come out of Mangroves and drive up to the desert. Not many companies do this trip as it is a protected area and they also dont have the licences and insurance to be able to drive on the roads.

Soho Square is at Savoy Hotel White Knights beach by Sharks bay. Official opening was December. There is a really nice English bar with a lovely garden, fountains, beauitful statues, nice shops, other bars, outdoor entertainment area, small bowling alley and ice rink, nice restaurants and an ice bar opening as well as a night club. We ate in one of the restaurants and the service and food were both fab.

 

[dukes]

Hi Alison

We are only just at the beginning of all this, have just paid the holding deposit. Have been told it is 2 years from now.

It is all a bit scary but shall constantly read this site for information.

Thanks for your help.

Eileen and Dave xx

 

[dukes]

Hi Damon

Thanks for the info. Will constantly read this site at every stage. Where did you find an independent lawyer? I see there is a lawyer guy who writes on this site.

About maintenance fees - we were told 1% of the purchase price anually and they can only increase up to 10% of the 1% if that makes sense.

Regards
Eileen and Dave

 

[queenie40something]

Hi Eileen you're welcome. I would recommend getting an independant lawyer that is not connected to any agent in any way. We used Zeiad and he has been great and the registration process was ery smooth and quite simple. You just need to gie them poa. I went to El Tor to the passport office to get 6m multi entry and 12 m resident isa ( cost about £15 and you need these to get poa ) then up the road took these, passports and contract to Notary and got poa for lawyer which cost just 40le then gave poa to Zeaid and he done the rest.

Our maintenance fees were £1500 and supposed to be one off and refundable if we sell.

I would check to see if your contract mentions meters. Ours didnt and we were not told that these were extra. We paid about £400 extra for elec and water meters. Elec is pre payment on a card that we get topped up on site and the £400 included 650le on elec and 1000 on water. This is better than getting billed I think.

Also get a list pref in your contract as to exactly what the maintenance includes. Does it hae a late penalty clause? How much will they charge for elec and water per unit? If you have beach access will they charge?

There are lots of things we found that we didnt think to ask at the point of sale.

It is exciting espec watching the progress and getting updated pics. The best bit is when they give you the keys!

 

[Damon36]

I done research and found some info on the british embassy in egypt web site. I had to give power of attorney to the lawyer which meant I had to travel to the main city and sign it over (bit of a nightmare as it was all rush as it had to happen on the same day i travelled home!). I don't know how pioneer property lawers deal with it.
I think that is right but 1% is currently about £600 so 10% is £6,000!

 

[queenie40something]

You can also get it done in the Egyptian Consulate in London. A couple on the Sierra thread done this. More expensie though.

We also got our childrens names put on the contract as well so if anything happens to us they are already on the lease and dont have to pay for another - in our contract it states 10,000 le to get another lease.

 

[dukes]

Hi Alsion

Great information, this is what we need, but now I have more to worry about. Please can you remind me at what stage do we need to get a lawyer?

Had better get on with the housework now and haven't even unpacked our cases yet!!

Great "talking to you"

Eileen and Dave


Hi Damon

Thanks. Will keep in touch if that is ok.

Eileen and Dave

 

[queenie40something]

Hi Eileen - there really isnt anything to worry about. Just things you need to consider and ask.

It is easy getting poa. I would recommend getting it as soon as possible and for your lawyer to check the due diligence, contract etc before you sign it.

Happy cleaning xx