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 Post subject: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Sun Mar 28, 2010 2:32 pm 
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This is the place to discuss information, share advice and read the latest news for Pyramids Beach.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Mar 28, 2010 2:35 pm 
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These are the first images sent to us from El Riad, Feb 2010.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Mar 28, 2010 2:52 pm 
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These were taken 10th March 2010:


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Mar 28, 2010 2:59 pm 
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These were sent 16th march 2010:


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Mar 28, 2010 3:00 pm 
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Here are the latest pictures of Pyramids Beach from Mohammed.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Mar 28, 2010 3:01 pm 
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Here is a link to The Pyramids Beach Resort. The availability is not up to date.

www.pyramidsbeachhurghada.com/index.html

Here is what the front of PB should look like.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Mar 28, 2010 3:02 pm 
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DWS have carried out the Due Dilligence on the Pyramids Beach Resort and are currently drawing up the new contracts (cost yet to be confirmed) for HRA members with extra conditions added to safeguard the Investors.

As I understand it, you will be asked to pay your remaining 60% in 4 instalments. 1 on signing the contracts, 2 on various stages of building work and the last one on completion.

Philip Morris (LAW) had already carried out the Due Dilligence for Pyramids Beach Resort and had even prepared a final draft contract between One Stop & El Riad. Obviously the Due Dilligence did not give him cause for concern then. Only when El Riad refused to pay him a fee for for transferring his DP2/CSP clients to PB and El Riad fell out with One Stop and kicking them off PB, did Philip Morris suddenly consider that there was a problem with the Due Dilligence for PB.

I have been informed by a LAW/HRA client that he is not offering a 'like for like' swap to El Nour Plaza (formerly Pyramids 2) only that the sum of the 40% payment for DP2 & CSP will be deducted from the new cost of the El Nour Plaza with the balance of the new apartment then being outstanding. He is also apparently asking for 55% of that up front. Neil went to ENP when he went over last month and said that no work was being done there. Of course, by now work may well have recommenced.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Mar 28, 2010 3:04 pm 
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Here is the brochure for Pyramids Beach Resort.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Wed Mar 31, 2010 10:10 am 
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Latest progress photo.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Fri Apr 02, 2010 7:40 am 
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TO ALL DP1, DP2/CSP PURCHASERS WHO ARE CURRENTLY JOINING THE HRA:

When you make your payment to Denton, Wilde & Sapte, please P.M. me, so that I can check the payment with DWS, so that you can be come an HRA Member a.s.a.p. and have access to the Private Forum.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Tue Apr 06, 2010 4:52 pm 
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Has anyone had an email from oppn warning them not to lured by Mohammed to Pyramids beach resort?


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Tue Apr 06, 2010 5:54 pm 
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What other alternative have OPPN put on the table?

When will people realise that OPPN are only out to make as much money as they can out of us over this sorry mess.

Desert Pearl 2 & Coral Sea Pearl have been abandoned for many months now and look to continue to stay that way for the foreseeable future.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Tue Apr 06, 2010 6:16 pm 
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I heard a rumour that ER told someone that they have now sold DP2 and CSP - but What comes out of ER's mouths are usually LIES, LIES and MORE LIES...so who knows if this is true or not???

Yes, I got that email from OPPN as well, they may have info we are not privvy too, who knows? Yes, OPPN are out to make money from all this, who wouldn't when they have lost millions themselves (supposedly).....OPPN have a very high vested interest to to try to sort this sorry mess out. We could benefit from this too, but it is too early to say really....
I guess the proposed switch is a judgement call you all have to make youselves. [This doesn't concern me as I am one of the poor buggers on DP1 who's apartment has been broken into by ER]..


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Wed Apr 07, 2010 7:06 pm 
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just out of interest has anyone been able to confirm that the building conforms to the origional plans submitted by El Riad?

As i understood it there wasn't planning permission for the top floor (4th), any guesses!?

I for one wouldn't trust El Riad with anymore cash at all, if they agreed to the monies being held in a UK solicitors client account then OK but other than that forget it. With all this going on can we truly trust them to deliver a quality apartment not one that will crumble and fall apart in just a short while??


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Wed Apr 07, 2010 8:55 pm 
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i hope there`s a 4th floor,otherwise i`ve been allocated fresh air again.( top floor of csp still a distant mirage). but iam with you, parting with more money is going to be hard to do.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Fri Apr 09, 2010 7:40 am 
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hurghad1 wrote:
DWS have carried out the Due Dilligence on the Pyramids Beach Resort and are currently drawing up the new contracts (cost yet to be confirmed) for HRA members with extra conditions added to safeguard the Investors.

As I understand it, you will be asked to pay your remaining 60% in 4 instalments. 1 on signing the contracts, 2 on various stages of building work and the last one on completion.

Philip Morris (LAW) had already carried out the Due Dilligence for Pyramids Beach Resort and had even prepared a final draft contract between One Stop & El Riad. Obviously the Due Dilligence did not give him cause for concern then. Only when El Riad refused to pay him a fee for for transferring his DP2/CSP clients to PB and El Riad fell out with One Stop and kicking them off PB, did Philip Morris suddenly consider that there was a problem with the Due Dilligence for PB.

I have been informed by a LAW/HRA client that he is not offering a 'like for like' swap to El Nour Plaza (formerly Pyramids 2) only that the sum of the 40% payment for DP2 & CSP will be deducted from the new cost of the El Nour Plaza with the balance of the new apartment then being outstanding. He is also apparently asking for 55% of that up front. Neil went to ENP when he went over last month and said that no work was being done there. Of course, by now work may well have recommenced.


The waters get muddier!!! I have been in contact with Phillip Morris who denies ever having undertaken work for One-Stop let alone overseeing any contracts. Can anybody offer further proof that he did undertake this work? If so a complaint to the Law Society is coming up!


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Fri Apr 09, 2010 7:45 am 
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DWS have done the Due Dilligence and as I understand it the 4th floor will not be an issue as PBR is not a front line development and other developments close by it are as high.

With regard to payment, no one will be expected to part with any money until the new legal contracts are drawn up and signed. Then as I understand it, you will be expected to pay 4 x 15% instalments of your remaining 60% outstanding on your original apartment, 1 after signing the contracts, 2 on various build stages and the final payment on completion. DWS UK will explain the process for signing and payment of the 15% instalment. If ER are playing ball with us and acknowledging our 40% and letting us swap 'like for like' then obviously they would hope that we we make some payment towards the building costs. Either you go with ER or stay with DP2/CSP. Who knows which the right choice is? It's up to each individual as to what they feel is right for them.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Fri Apr 09, 2010 7:58 am 
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clayton1977 wrote:
hurghad1 wrote:
DWS have carried out the Due Dilligence on the Pyramids Beach Resort and are currently drawing up the new contracts (cost yet to be confirmed) for HRA members with extra conditions added to safeguard the Investors.

As I understand it, you will be asked to pay your remaining 60% in 4 instalments. 1 on signing the contracts, 2 on various stages of building work and the last one on completion.

Philip Morris (LAW) had already carried out the Due Dilligence for Pyramids Beach Resort and had even prepared a final draft contract between One Stop & El Riad. Obviously the Due Dilligence did not give him cause for concern then. Only when El Riad refused to pay him a fee for for transferring his DP2/CSP clients to PB and El Riad fell out with One Stop and kicking them off PB, did Philip Morris suddenly consider that there was a problem with the Due Dilligence for PB.

I have been informed by a LAW/HRA client that he is not offering a 'like for like' swap to El Nour Plaza (formerly Pyramids 2) only that the sum of the 40% payment for DP2 & CSP will be deducted from the new cost of the El Nour Plaza with the balance of the new apartment then being outstanding. He is also apparently asking for 55% of that up front. Neil went to ENP when he went over last month and said that no work was being done there. Of course, by now work may well have recommenced.


The waters get muddier!!! I have been in contact with Phillip Morris who denies ever having undertaken work for One-Stop let alone overseeing any contracts. Can anybody offer further proof that he did undertake this work? If so a complaint to the Law Society is coming up!


Why don't you contact One Stop or El Riad and ask them for more information?


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Fri Apr 09, 2010 12:30 pm 
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one stop never answer their phone and getting a straight answer out of El Riad is pretty much impossible! it would be just interesting to find out whether this is true of not?


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Wed Apr 14, 2010 8:18 am 
clayton1977 wrote:
hurghad1 wrote:
DWS have carried out the Due Dilligence on the Pyramids Beach Resort and are currently drawing up the new contracts (cost yet to be confirmed) for HRA members with extra conditions added to safeguard the Investors.

As I understand it, you will be asked to pay your remaining 60% in 4 instalments. 1 on signing the contracts, 2 on various stages of building work and the last one on completion.

Philip Morris (LAW) had already carried out the Due Dilligence for Pyramids Beach Resort and had even prepared a final draft contract between One Stop & El Riad. Obviously the Due Dilligence did not give him cause for concern then. Only when El Riad refused to pay him a fee for for transferring his DP2/CSP clients to PB and El Riad fell out with One Stop and kicking them off PB, did Philip Morris suddenly consider that there was a problem with the Due Dilligence for PB.

I have been informed by a LAW/HRA client that he is not offering a 'like for like' swap to El Nour Plaza (formerly Pyramids 2) only that the sum of the 40% payment for DP2 & CSP will be deducted from the new cost of the El Nour Plaza with the balance of the new apartment then being outstanding. He is also apparently asking for 55% of that up front. Neil went to ENP when he went over last month and said that no work was being done there. Of course, by now work may well have recommenced.


The waters get muddier!!! I have been in contact with Phillip Morris who denies ever having undertaken work for One-Stop let alone overseeing any contracts. Can anybody offer further proof that he did undertake this work? If so a complaint to the Law Society is coming up!



I have heard from several agents that LAW Ltd DID draft the contracts for One-Stop and someone from One-Stop is involved in the new company Magna that LAW Ltd are telling people to contact. Why can't everyone come clean and if there is nothing to hide tell the people who is involved in what company and why they are telling people to move to Pyramids 2 when the licence is exactly the same as Pyramids Beach.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Thu Apr 15, 2010 5:00 pm 
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This is the link to the updated PB site with all the latest information on it.

http://www.pyramidsbeachhurghada.com/index.html


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Fri Apr 16, 2010 8:21 pm 
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I found this on another site, makes interesting reading.

ONE STOP PYRAMIDS BEACH AND ASSOCIATED PARTIES

Firstly we would like to point out One Stop have NOT been in contact with El-Riad regarding this development. We believe Philip Morris of Law has been sending out incorrect information regarding the due diligence of Pyramids Beach. All due diligence was confirmed as in order when One Stop Started to market this development here we are 18 months later with incorrect information being distributed regarding Pyramids Beach.

The diligence has also been shown on One Stops website for the last 18 months confirming again that all is well.

The real story is One Stop and Philip Morris are relying on DP and CSP buyers to secure the move of One Stop clients to their original development of Pyramids Beach 2.

Philip Morris is well known for his due diligence procedures you only have to ask any Regency investor who has lost all their monies to the regency Brand, the information we are pointing out is true and factual and easily checkable by everyone who is involved with this group.

One Stop does not have any funds from the monies collected from their 117 clients and are struggling to convince any developer to continue working with them.

All clients who have paid their monies to One Stop must ask them for solid proof of where these monies have disappeared to, as they have not ALL been forwarded to the developers involved.

El-Riad will not be held responsible for ANY contract that has not been counter signed by us, we will however honour ALL contracts that hold our signature and stamp.

We have discovered over the last few weeks many clients have paid One Stop upto 90% towards their properties, One Stop have previously confirmed to us that they have only received 40% from clients. We have also discovered One Stop selling property to clients for less then what One Stop would be paying us per sq meter. We have asked One Stop to explain the situation however they have failed to reply. We have tried to accommodate One Stop and have previously re issued new contracts however these contractual obligations have been continuously ignored and breached. We feel we are unable to continue with One Stop and have made them aware of the situation. We would also like clarify that the joint bank account that was set up for clients was never used for any transactions.

You have been waiting for a statement from One Stop for the last two months they have again failed to provide any details of what is happening with the proposed move to their original development previously known as Pyramids beach 2.

Its time the truth was told by One Stop and all associated within this group.

We believe a new company has now been created MAGNA, has anyone asked why this company has been created?

Regarding Peter Morris who is also involved within this group, you have the person who confirmed in court in Egypt that he did not sign any WWD contracts which effectively lost investors their apartments. Now he is believed to be claiming he has purchased WWD Egypt which again is not correct. Has anyone seen any actual proof of this claim? The answer in short is no as these claims are totally false, this can be checked with the ministry of investment here in Egypt.

We believe all investors involved with this group may end up with nothing as previously with WWD. Those of you with EL-Riad signed contracts regarding Pyramids Beach please continue as normal and do not listen to incorrect information been distributed by the above named, we will honour our signed contracts. To All other investors please do not contact us, you must contact the person who has signed your contracts as they and only they are responsible for the contracts they have signed.

We believe this clears up some of your queries sent to us recently.

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Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Fri Apr 16, 2010 11:16 pm 
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RivermeadGlobal wrote:
I found this on another site, makes interesting reading.

ONE STOP PYRAMIDS BEACH AND ASSOCIATED PARTIES

Firstly we would like to point out One Stop have NOT been in contact with El-Riad regarding this development. We believe Philip Morris of Law has been sending out incorrect information regarding the due diligence of Pyramids Beach. All due diligence was confirmed as in order when One Stop Started to market this development here we are 18 months later with incorrect information being distributed regarding Pyramids Beach.

The diligence has also been shown on One Stops website for the last 18 months confirming again that all is well.

The real story is One Stop and Philip Morris are relying on DP and CSP buyers to secure the move of One Stop clients to their original development of Pyramids Beach 2.

Philip Morris is well known for his due diligence procedures you only have to ask any Regency investor who has lost all their monies to the regency Brand, the information we are pointing out is true and factual and easily checkable by everyone who is involved with this group.

One Stop does not have any funds from the monies collected from their 117 clients and are struggling to convince any developer to continue working with them.

All clients who have paid their monies to One Stop must ask them for solid proof of where these monies have disappeared to, as they have not ALL been forwarded to the developers involved.

El-Riad will not be held responsible for ANY contract that has not been counter signed by us, we will however honour ALL contracts that hold our signature and stamp.

We have discovered over the last few weeks many clients have paid One Stop upto 90% towards their properties, One Stop have previously confirmed to us that they have only received 40% from clients. We have also discovered One Stop selling property to clients for less then what One Stop would be paying us per sq meter. We have asked One Stop to explain the situation however they have failed to reply. We have tried to accommodate One Stop and have previously re issued new contracts however these contractual obligations have been continuously ignored and breached. We feel we are unable to continue with One Stop and have made them aware of the situation. We would also like clarify that the joint bank account that was set up for clients was never used for any transactions.

You have been waiting for a statement from One Stop for the last two months they have again failed to provide any details of what is happening with the proposed move to their original development previously known as Pyramids beach 2.

Its time the truth was told by One Stop and all associated within this group.

We believe a new company has now been created MAGNA, has anyone asked why this company has been created?

Regarding Peter Morris who is also involved within this group, you have the person who confirmed in court in Egypt that he did not sign any WWD contracts which effectively lost investors their apartments. Now he is believed to be claiming he has purchased WWD Egypt which again is not correct. Has anyone seen any actual proof of this claim? The answer in short is no as these claims are totally false, this can be checked with the ministry of investment here in Egypt.

We believe all investors involved with this group may end up with nothing as previously with WWD. Those of you with EL-Riad signed contracts regarding Pyramids Beach please continue as normal and do not listen to incorrect information been distributed by the above named, we will honour our signed contracts. To All other investors please do not contact us, you must contact the person who has signed your contracts as they and only they are responsible for the contracts they have signed.

We believe this clears up some of your queries sent to us recently.

hi neil this was first posted on the wwp and was soon deleteted , but then carried on to the topix forum.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sat Apr 17, 2010 8:50 am 
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Thanks Robo, any idea who wrote it, surely if it was ER it would be left on WWP?

_________________
Best, Regards, Neil Hollingsworth
Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sat Apr 17, 2010 1:39 pm 
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RivermeadGlobal wrote:
Thanks Robo, any idea who wrote it, surely if it was ER it would be left on WWP?


I saw this on topix but, because the English was so good did not think it could be from El Riad, may be wrong though, It does however make some sense. this info re due diligence has been on Onestop site for a while and El Riad have been saying since demise of WWD that contracts must be signed by them.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sat Apr 17, 2010 7:43 pm 
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Scubamog wrote:
RivermeadGlobal wrote:
Thanks Robo, any idea who wrote it, surely if it was ER it would be left on WWP?


I saw this on topix but, because the English was so good did not think it could be from El Riad, may be wrong though, It does however make some sense. this info re due diligence has been on Onestop site for a while and El Riad have been saying since demise of WWD that contracts must be signed by them.


Hi Scubamog, I had exactly the same thoughts reference the English being too good and it seemed to have been written by a professional (legal) and they have been saying contracts have to be signed by them and monies paid direct to them.

_________________
Best, Regards, Neil Hollingsworth
Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Sun Apr 18, 2010 8:38 am 
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RivermeadGlobal wrote:
Scubamog wrote:
RivermeadGlobal wrote:
Thanks Robo, any idea who wrote it, surely if it was ER it would be left on WWP?


I saw this on topix but, because the English was so good did not think it could be from El Riad, may be wrong though, It does however make some sense. this info re due diligence has been on Onestop site for a while and El Riad have been saying since demise of WWD that contracts must be signed by them.


Hi Scubamog, I had exactly the same thoughts reference the English being too good and it seemed to have been written by a professional (legal) and they have been saying contracts have to be signed by them and monies paid direct to them.


Hi Neil,
Web World Property have an almost word for word copy of this on El Riad headed paper, so it looks as if the oroiginal was put on by them, interesting.


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 Post subject: Re: PYRAMIDS BEACH, INFORMATION ADVICE AND LATEST NEWS
PostPosted: Mon Apr 19, 2010 8:35 am 
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It was by them, I asked Mohamed, he has said they have tried to explain the situation to the clients.

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Best, Regards, Neil Hollingsworth
Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed Apr 21, 2010 9:39 pm 
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by Gazo » Wed Apr 21, 2010 6:31 pm

I am an original purchaser on Pyramids 2 through One Stop Overseas (project now call ed El Nour Plaza), but changed over to Pyramids Beach and since the end of November 2008, have handed over 75% for my 1-bed apartment to o**c, and on to ER. Obviously there is now a big fall out between One Stop and ER, and my apartment is now shown as available for sale, along with every other unit purchased by o**c buyers that I have kept in touch with through the different forums.

Other o**c Pyramids Beach buyers have contacted Mohamed at ER. Some have been told to simply switch contracts to a direct ER contract to "keep their investment safe". Others have basically been told to go away and speak to o**c as it's not ER's problem.

Between myself and other One Stop buyers, we are now trying to find the best collective route to take in order to get what we are due. Our apartments as contracted for, or our money. One Stop are now apparently getting their legal pack together, but most of us cannot get in touch with them from 1 week to the next to know what exactly is happening.

ER have admitted to receiving approx. £500k from o**c. They could of course have been given a lot more than this considering there are 117 contracts for Pyramids Beach through o**c. Or o**c have simply not handed over any more money from the collected interim payments (representing 50% build completion) because the build is of course still not near 50% completed. That would protect our money because ER in my mind are just chancers asking for more when they have nothing to warrant more money. Foundations started being laid in August 2008. The best part of 2 years later and it's just foundations plus scaffolding and concrete that you members of the HRA are still being sent photos of. It's beyond pathetic!

Only a few weeks ago o**c were due to meet ER and discuss the first reimbursement installments from ER for all it's clients on PB, so we could be moved onto another development (El Nour Plaza). When they arrived, the ER rep refused to meet with them and then suddenlt disappeared. This is why legal action is now the only next step.

Our small group of o**c buyers will wait a little while longer to give One Stop a chance to come out and give a full explanation as to why ER have broken all contact, and what this legal action representation against them will involve for us all.

Our next route will then be to all join HRA and DWS and and hopefully extend DWS's case against ER to this Pyramids Beach project, if we can get a consensus.

What are your thoughts on this?

Gazo


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Fri May 07, 2010 12:33 pm 
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i have moved from marlion to pyramids beach with a direct contract with el riad


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Fri May 07, 2010 4:48 pm 
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i have bought a one bed in pyramids beach unit k401


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Fri May 14, 2010 8:38 pm 
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I took these last week, they have slowed down going upwards until the new licence is issued, this was applied for in April so should be issued very soon. As you can see they have started bricking up and I have been told as soon as the licence is issued they will be cracking on quickly.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Tue May 25, 2010 7:21 am 
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I have just returned from Hurghada. I am one of those from DP1 who have had their apartments broken into. I am not willing to let this rest, and i will certainly not trust ER or anyone who is doing deals with them, so called on our behalf. If you sign your contracts over for DP1, you may aswell say good bye to your monies. If your originals are worthless, why do you have to cancel them, and also why are they wanting to have your original copies.
I took a visit to Pyramids,last week to find only 1 person working on site. Have ER not payed the builders again ???? also this complex is 25 KM from Hurghada. There are no shops or restaurants nearby. So therefore no people about. No people means no buses or taxi's. It will cost a lot of money each time you need to go to town shopping, or going out for a meal.
With regard to the public beach, there are 2 signs in Arabic, either side of the land. This sign says the land is owned by the Egyptian Bank. So how long before this land is sold and a new apartment block or hotel, is built right in front of Pyramids. No one has mentioned these signs....wonder why ???
I for one am not giving up on something that is built and complete, for a mirage in the desert. I am certainly not trusting ER again, you would have to be mad to go down this route. Rumour also has it that there is land problems with Pyramids also.
How much are the fee's to DWS going to be ????? no one has mentioned this exact figure, also do you all really trust ER to stand by their promise.
I also walked around the 3 bed apartment, and calculated this to be 98 sq m. I was informed this apartment was 128 sq m i questioned this and was told that the comunal area made up the remaining 30 sq m. With this in mind you are loosing 25 % on comunals ?????? how can this be........what a waste of space.
I would certainly advise getting on a plane and viewing this for yourselves before signing over and loosing everything. Whilst you are out there you can then make a police report at the tourist police, about ER and the way they have robbed you. Everyone has to choose wisely, there is no right or wrong.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Tue May 25, 2010 7:10 pm 
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Hi jwd.

I can understand that you are throughly disgruntled, disapppinted, upset and fuming, as are most of the other DP1 purchasers, many of whom have also had their apartments broken into, personal possessions taken and their apartments resold.

I understand it is hard for you to consider El Riad's motives in all of this and even consider working with them. Rawan had taken out a mortgage with the Bank of Abu Dhabi, which ER agreed to honour. As it has been said many times before, World Wide Destinations stopped paying El Riad, so ER could no longer meet the mortgage repayments. There is no disputing that there is a loan against the DP1 land. The DP1 contracts signed by WWD are worthless unless they are also signed by the landowner and ER. DP1 might be built and complete but if your contracts are not valid, you will never get them notarised by the court to be registered.

ER are offering a 'like for like' swap for DP1 purchasers to either Pyramids Beach Resort or Mamma Mia. HRA members have only paid DWS £400.00. This was £100 for the initial Due Dilligence and £300 for legal work thereafter. DWS has carried out legal work far in excess of this sum. As we (the fully paid up members of the HRA) have all paid £400 so far, it is only fair that those wanting to swap now, pay the same. The only other cost will be for the new contracts for Pyramids Beach Resort, which is estimated to be around £1,000 which will include the Due Dilligence for Pyramids Beach Resort. DWS will not allow any HRA member to sign a new contract until ER has produced all the correct paperwork. There was a problem with a licence for the 4th floor but ER applied for this in April and it should be approved soon. As I understand it they have stopped work to wait for the licence to be approved. Why I don't know.

I have also been to Pyramids Beach Resort. It is about a 10 minuted drive North, by the main back roads from the centre of Hurghada on the way to El Gouna. I must admit it does look a bit like a building site but that is because they are building new shops, office & hotels all around. The El Nour district will be a suburb of Hurghada. Our local taxi driver told us that the beach opposite PBR was owned by the Government and so shouldn't be built on. Whether this is true or not I cannot say. I didn't see any signs and in any case, I can't read Arabic. By the side of the Government owned strip of land, there is access to a public beach.

I didn't get to pace out any apartments as the building was unsafe for anyone to walk over.

It is everyone right to choose the option that they feel is best for them. I don't think there is anyway that DP1 owners will be able reclaim their DP1 apartments from ER, even if they go to court, and if ER are offering a 'like for like' swap and replace your furniture and, if you've paid extra to ER, allow you to swap to Mamma Mia with no extra cost at all, then it certainly must be worth considering.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Tue May 25, 2010 11:06 pm 
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I am not too sure if the contract signed by WWD for DP1 is invalid. I have seen a copy of Power of Attorney which was signed by both Al Rawan and El riad which clearly authorised WWD (or any of the 3 parties) to sign on behalf of each other (jointly reffered to as Seller). I have never seen a original of this POA. If such a POA exist and has all 3 signatures surely the contract must be valid ??


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed May 26, 2010 1:03 pm 
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Like we both mentioned, everyone has to take their own choice. But what is correct is the size of the apartments being smaller, i measured these whilst there. The dispute over the land is correct, and like you mentioned the licence to build the top floor. Also the signs on the empty land stating it is owned by the Egyptian Bank.
With regard to the POA, Reefat has a copy of this saying WWD have the rights to sell apartments for and on behalf of ER. This is also stated on the outline agreement, signed by WWD, ER, and Rawan. Therefore our contracts are valid. Think about this, if they are not valid, why do they ask that these are cancelled and why are they not kicking the people out who live there. The reason is that these contracts are valid, as soon as you cancell these you will loose everything. The whole thing stinks of El Riad. I cannot believe you are all going to trust these people yet again....
Dont give up something you can see and touch.






Pinacolada wrote:
Hi jwd.

I can understand that you are throughly disgruntled, disapppinted, upset and fuming, as are most of the other DP1 purchasers, many of whom have also had their apartments broken into, personal possessions taken and their apartments resold.

I understand it is hard for you to consider El Riad's motives in all of this and even consider working with them. Rawan had taken out a mortgage with the Bank of Abu Dhabi, which ER agreed to honour. As it has been said many times before, World Wide Destinations stopped paying El Riad, so ER could no longer meet the mortgage repayments. There is no disputing that there is a loan against the DP1 land. The DP1 contracts signed by WWD are worthless unless they are also signed by the landowner and ER. DP1 might be built and complete but if your contracts are not valid, you will never get them notarised by the court to be registered.

ER are offering a 'like for like' swap for DP1 purchasers to either Pyramids Beach Resort or Mamma Mia. HRA members have only paid DWS £400.00. This was £100 for the initial Due Dilligence and £300 for legal work thereafter. DWS has carried out legal work far in excess of this sum. As we (the fully paid up members of the HRA) have all paid £400 so far, it is only fair that those wanting to swap now, pay the same. The only other cost will be for the new contracts for Pyramids Beach Resort, which is estimated to be around £1,000 which will include the Due Dilligence for Pyramids Beach Resort. DWS will not allow any HRA member to sign a new contract until ER has produced all the correct paperwork. There was a problem with a licence for the 4th floor but ER applied for this in April and it should be approved soon. As I understand it they have stopped work to wait for the licence to be approved. Why I don't know.

I have also been to Pyramids Beach Resort. It is about a 10 minuted drive North, by the main back roads from the centre of Hurghada on the way to El Gouna. I must admit it does look a bit like a building site but that is because they are building new shops, office & hotels all around. The El Nour district will be a suburb of Hurghada. Our local taxi driver told us that the beach opposite PBR was owned by the Government and so shouldn't be built on. Whether this is true or not I cannot say. I didn't see any signs and in any case, I can't read Arabic. By the side of the Government owned strip of land, there is access to a public beach.

I didn't get to pace out any apartments as the building was unsafe for anyone to walk over.

It is everyone right to choose the option that they feel is best for them. I don't think there is anyway that DP1 owners will be able reclaim their DP1 apartments from ER, even if they go to court, and if ER are offering a 'like for like' swap and replace your furniture and, if you've paid extra to ER, allow you to swap to Mamma Mia with no extra cost at all, then it certainly must be worth considering.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed May 26, 2010 3:45 pm 
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You cannot say contract is invalid because all 3 parties signature is not on the contract. Clearly we need to find the original POA which all 3 parties signed stating clearly they had the right to sign for each other. I will dig up a copy of this. Clearly if this POA exists if one signs the contract it is as good as all 3 signing by virtue of this POA ? I am not sure on this point.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed May 26, 2010 6:09 pm 
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Rawan and Mabrouk have a 12 year court case pending over the land on which DP1 is built so who is the land owner? The National Bank of Abu Dhabi has the land as collateral against a mortgage taken out by Rawan, do they own it?

Do the people that signed your contracts have a fully signed, stamped and Notarised POA to give them the right to sign your contracts?

There has been a court case, how did it go (that's not a flippant question I don't believe anything until I see it in writing so I am after the other side of the story)?

Whether these contracts are valid/invalid is not the point, the point is the land has so many issues, it will be years before they are sorted out, the builder did not receive the final 60% for your apartment, WWD did not give correct POA's to it's staff and to top it all off there is a mortgage on the land which extends to the building. So if you want to wait, find POA's, battle Mabrouk/Rawan/TNBAD in the courts for your apartment carry on, if the money doesn't come in to pay the mortgage the bank may well take it all back anyway and sell it at auction, you lose everything.

You make your bed and lie in it, I and DWS have done what we can if you wish to continue that's your choice. There will be no moving if the due diligence doesn't pass on Pyramids Beach DWS, are too big a firm to put their name to something dodgy hence the reason nothing has happened yet. The licence will be available in a couple of days and I'm told workers are on site, we have all POA's appertaining to the PB land and all is in order unlike DP!!!!

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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed May 26, 2010 7:04 pm 
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I am not trying to say that if the contract is valid we should fight in court. This can take years in court. I think El riad is using these as excuses. They have always disputed with Sigma properties, and others. ER is always the common elelment, is it some coincidence? I personally believe there is a valid POA which all 3 parties signed and notarised and ER had fully agreed, now they just want to brush it aside. We as buyers are left with not a lot of choice. If we want get the apartment in reasonable time only option is for the swap, which I think will be OK if the apartments are built on time. Even if all Due diligence is clean no one can be certain apartments will be built. I do not know if ER can give some guarantees on completing projects.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed May 26, 2010 10:02 pm 
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ska123 wrote:
You cannot say contract is invalid because all 3 parties signature is not on the contract. Clearly we need to find the original POA which all 3 parties signed stating clearly they had the right to sign for each other. I will dig up a copy of this. Clearly if this POA exists if one signs the contract it is as good as all 3 signing by virtue of this POA ? I am not sure on this point.

absolutely love your honesty neil, and i cannot thank you enough for your input into all this fiasco, keep it going friend, after all mate you did win the aipp award and you dont get that given:D
i have alot of trust in you as you know . "thanks"


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed May 26, 2010 10:07 pm 
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ska123 wrote:
I am not trying to say that if the contract is valid we should fight in court. This can take years in court. I think El riad is using these as excuses. They have always disputed with Sigma properties, and others. ER is always the common elelment, is it some coincidence? I personally believe there is a valid POA which all 3 parties signed and notarised and ER had fully agreed, now they just want to brush it aside. We as buyers are left with not a lot of choice. If we want get the apartment in reasonable time only option is for the swap, which I think will be OK if the apartments are built on time. Even if all Due diligence is clean no one can be certain apartments will be built. I do not know if ER can give some guarantees on completing projects.

absolutely love your honesty neil, and i cannot thank you enough for your input into all this fiasco, keep it going friend, after all mate you did win the aipp award and you dont get that given:D
i have alot of trust in you as you know . "thanks"


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed Jun 02, 2010 7:28 am 
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How do you post pic's on here, any advise. Thanks.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Thu Jun 03, 2010 9:16 pm 
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Hi jwd, Send your pictures to hurghad1@googlemail.com and we will upload them to the site for you.

Thanks


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Fri Jun 04, 2010 9:58 am 
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New photographs from Pyramids Beach taken 2nd June 2010.

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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Mon Jun 21, 2010 3:07 pm 
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Hi

Are there any further photos re the progress on Pyramids beach ?


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed Jun 23, 2010 10:03 am 
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Hi everyone, apologies for not posting for a while I am so busy trying to work and sort this mess out. I have just returned from another trip to Egypt and I spent time in Hurghada and also went to Cairo where I had a good chat with the British Ambassador (The Honourable Duncan Asquith) and he was fully aware of the situation in Hurghada. He asked me what the sticking points were at the moment and how he could help me sort them out, he has told me to contact him if required for him to speak to the Egyptian government and un-stick any issues.

We are still waiting for the licence but it is being chased by El Riad, they have paid their money and have been promised it, we had a very frank conversation about how I felt and how it seemed we were being lied to etc... Mohamed was very apologetic but also said he felt the same because the Hurghada Council were promising him it would be ready and not delivering. I visited the site and they are still building, I will upload some photos soon the revised floor plans with the further 1 and 2 bed apartments should be ready any day and if these aren't enough they have agreed to open phase 2 to us.

There are other things going on behind the scenes but all is still progressing and hopefully the solicitors will be taking over very soon (insha'allah) :D

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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed Jun 23, 2010 1:24 pm 
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New pics and one of me at the Queens Birthday Ball :D

Attachment:
File comment: Neil Hollingsworth, Michael Lacey (Managing Partner DWS Cairo) and Soha Abdel Aziz (Egyptian Solicitor), these are the solicitors that have been working on your behalf for the past 12 months.
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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Wed Jun 23, 2010 3:22 pm 
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Pleased to have you back in one piece Neil and to hear that everything is going okay for Pyramids Beach Resort, albeit slowly.

Let's hope the licence is through soon and DWS can start on the new contracts.

All those waiting for a swap will be pleased when the new revised plans are ready with more 1 & 2 beds becoming available.

Keep up the good work. All of us are grateful for all the time and effort that you are putting in to help us out.


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Thu Jun 24, 2010 5:06 pm 
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hi neal so how do we stand with a contract that is for the 4th floor if there is a problem


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 Post subject: Re: PYRAMIDS BEACH, Information Advice & Latest News
PostPosted: Thu Jun 24, 2010 7:00 pm 
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In the picture above - number 4 - what is the orangey coloured building?

Don't know if I missing something.

Thanks


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