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 Post subject: Coral Sea Pearl information and advice
PostPosted: Thu Jun 18, 2009 6:36 am 
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This is the place to discuss information and share advice for Coral Sea Pearl


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Fri Jun 19, 2009 8:53 am 
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Hi- does anyone know what is happening with Coral Pearl. When I went out there last year, it was being built, I have so far paid 40% and I have no idea where it is at, what is going on with my contract . Everything seems to be about DP1/2.
any advise would be appreciated. Thanks


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Fri Jun 19, 2009 10:24 am 
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Hello,

Things are pretty much at a standstill for DP2 / CSP at the moment. We are all basically in the same boat. As far as I know there will be proposals being negotiated in the near future hopefully enabling the buiding work to recommence.
I don't know if you are in the Hurghada Residents Association, but it is a good place to start. There is a Topic Heading on this forum with instructions on who to contact regarding joining.
BW :)


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Mon Jun 22, 2009 10:35 pm 
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Hi, when I was there in April CSP was built up to the second floor only. :( Will have a look in August, don't suppose anything will have changed as no building is going on. DP2 was up to the 4th floor but unfinished.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Wed Jul 08, 2009 10:08 am 
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Please read the announcement "El-Riad new Information: response needed"


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sat Jul 11, 2009 4:39 pm 
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Received this yesterday, found it in my Junk Mail:

To all purchasers from project DP2, CSP,

This is to officially inform purchasers from the abovementioned projects that El Riad Company confirms that all mentioned projects will push through soon.

We will send to the whole purchasers draft purchasing contract which includes payment system and completion date that will be signed by direct from the owner of the project.

United Lawyers Company ask all purchasers to continue sending documents to our official Hughada address

United Lawyers Company

Villa 11014 Village Road, Touristic Center

Hughada Red Sea, Egypt

PO Box 422

Telephone: +2 065 346 2071

Fax: +2 065 346 2072

For more information, send email to info@unitedlawyers-redsea.com

Note: We are not responsible or will be held responsible for payment or transaction made with or to other people/ association/agent/broker.

Kind regards

Mohamed Refaat


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sat Jul 11, 2009 7:52 pm 
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Hi Scubamog

Was it dated Friday ??

Do you know if anyone else got a copy.

Just wondering as everyone doesn't usually work a Friday in Hurghada... by this I mean the usual suspects !!

BW :)


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Jul 12, 2009 1:51 pm 
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CELF wrote:
Hi Scubamog

Was it dated Friday ??

Do you know if anyone else got a copy.

Just wondering as everyone doesn't usually work a Friday in Hurghada... by this I mean the usual suspects !!

BW :)


This was received 09/07/2009 and is from Doris. It turned up in my junk mail and I haven't heard if any one else has received it.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Jul 12, 2009 2:54 pm 
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i think its important to finf out id the email from ul is true and to find out what thy plan to do as this would make the picture a lot clearer for dp2/coral pearl people


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Jul 12, 2009 3:06 pm 
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davey wrote:
i think its important to finf out id the email from ul is true and to find out what thy plan to do as this would make the picture a lot clearer for dp2/coral pearl people


I'll let you all know if I receive any thing more,have tried to speak to another CSP buyer today but can't raise them, One thought I had was that it may be further delaying tactics, but in the light of their busuness registration only being valid till March 2010, I am not convinced we will get the apartments even if we pay them as they ask, I don't mind putting the money somewhere neutral but don't feel I trust them enough to hand it to them in the light of what has been going on.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Jul 12, 2009 6:33 pm 
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Mohamed Refaat wants paying because he knows if DWS come in and carry out all the work no-one will need his services. However, i would stress everyone is entitled to use whoever they wish and if you wish to employ Mohamed Refaat please do so it is every individuals choice to seek their own solicitors.

I do not like the sound of the last payment plan he sent out though and it just makes me nervous knowing that he used to be (or still is) in his own words El Riads legal advisor. He sent out that everyone on DP2 and CSP would be required to pay 20% now, 20% in 6 months and the rest on completion, who wants to pay a further 40% to a company that has acted as they have on DP1. Why would they be bothered about completing for a further 20%, if they had acted professionally on DP1 and said ok our fault, we had a bad business partner and we don'texpect you as buyers to bail us out that would have made a huge difference.

If they have only until March 2010 to trade then going off Mohamed Refaat's plan you would all have handed over another 40% just before they cease trading :?:

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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: Coral Sea Pearl information and advice
PostPosted: Sun Jul 12, 2009 7:06 pm 
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RivermeadGlobal wrote:
Mohamed Refaat wants paying because he knows if DWS come in and carry out all the work no-one will need his services. However, i would stress everyone is entitled to use whoever they wish and if you wish to employ Mohamed Refaat please do so it is every individuals choice to seek their own solicitors.

I do not like the sound of the last payment plan he sent out though and it just makes me nervous knowing that he used to be (or still is) in his own words El Riads legal advisor. He sent out that everyone on DP2 and CSP would be required to pay 20% now, 20% in 6 months and the rest on completion, who wants to pay a further 40% to a company that has acted as they have on DP1. Why would they be bothered about completing for a further 20%, if they had acted professionally on DP1 and said ok our fault, we had a bad business partner and we don'texpect you as buyers to bail us out that would have made a huge difference.

If they have only until March 2010 to trade then going off Mohamed Refaat's plan you would all have handed over another 40% just before they cease trading :?:



My thoughts exactly, Please every one consider wisely what has been going on with Desert Pearl 1 before any of us hand over further money.
All attention is on DP1 at the moment, and we must be sure we are not panicked into doing the wrong thing


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Thu Jul 30, 2009 4:44 pm 
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Has any purchaser on here been offered another apartment. Below info was mentioned on another forum..

Question :- Does anybody know if there is actually any building work going on on CSP (I know this is a DP thread but cant seem to post on CSP one, as it says its closed?).
Also, there is mention of moving to other developments, can anybody explain where this has come from, this is news to me.
Thanks.


Answer :- I have heard some people have gone over and been offered a new development with a new contract instead of the ones here,Please enquire further with the powers that be.


WONDER WHO THE POWERS THAT BE ARE !! SORRY NO PRIZES FOR GEUSSING WHO !!

They must be struggling whoever it is as I also read purchasers from Marlion are being offered other apt in Marsa Alam Oceanicheights. Whats causing all this shuffling about I wonder
BW :)


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Thu Jul 30, 2009 5:12 pm 
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CELF wrote:
Has any purchaser on here been offered another apartment. Below info was mentioned on another forum..

Question :- Does anybody know if there is actually any building work going on on CSP (I know this is a DP thread but cant seem to post on CSP one, as it says its closed?).
Also, there is mention of moving to other developments, can anybody explain where this has come from, this is news to me.
Thanks.


Answer :- I have heard some people have gone over and been offered a new development with a new contract instead of the ones here,Please enquire further with the powers that be.


WONDER WHO THE POWERS THAT BE ARE !! SORRY NO PRIZES FOR GEUSSING WHO !!

They must be struggling whoever it is as I also read purchasers from Marlion are being offered other apt in Marsa Alam Oceanicheights. Whats causing all this shuffling about I wonder
BW :)


All these people that have accepted new apartments and new contracts and handed their apartment back and think they are safe, just look at the outcome for all the people that paid El Riad more money and had new contracts and were told they were safe. At least they still have their apartments, if ER do not get a new licence Mar next year who is going to build your new apartments and are ER going to have sold your old apartment and pocketed the money? Or are they going to pay the money to the Bank of Abu Dhabi to clear the mortgage (silly me of course their not!!)

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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: Coral Sea Pearl information and advice
PostPosted: Fri Aug 07, 2009 3:10 pm 
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(Moved by Admin)

by donah » Fri Aug 07, 2009 11:23 am

Hi
I have just come across your site today! through google! There must be 100's of people out there who do not know about HRA, and in order to get more funds to fight this case, there must be a list of all prospective purchasers, emails, names or address somewhere, I would think for starters Grant Thornton would have these and as an organisation HRA should contact them and send out your latest email advising everyone, to contribute to the legal fund! You are only going to have computer literate people finding you.
I would suggest HRA keeps a list of all such names and informs everyone of the situation as it progresses.
I have invested 40% into Coral Sea Pearl and throught I had done my homework on the company getting accounts from WWD's head office in Spain, there is also the question of 'A Place in the Sun' who are taking advertising from companies but not checking them out first! WWD came to my attention through this magazine.
I am not confident in giving more money to someone I dont know! but perhaps if there was a sufficient number of people involved and security checks where in place it would give people more confidence to pay into this fund.
Regards

donah


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Fri Aug 07, 2009 6:53 pm 
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Welcome to the forum Donah.... I can assure you everything is in place eg security checks etc... for the HRA/DWS to carry out this work for us....
Have taken on board what you have said about GT and we asked for the info you stated along time ago and they were unable to help... sorry can't remember why now...
I do not want to be blunt with you but if you do not join the HRA legal fund NOW... it will be too late for you to act with a collective group and save yourself a lot of money. I'm sorry you will be on your own fighting for your own apartment at a considerable cost and not knowing who to trust.... believe me we have a large group of purchasers who have already joined.
BW :)


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sat Aug 08, 2009 10:06 am 
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Quote:
Welcome to the forum Donah.... I can assure you everything is in place eg security checks etc... for the HRA/DWS to carry out this work for us....
Have taken on board what you have said about GT and we asked for the info you stated along time ago and they were unable to help... sorry can't remember why now...
THEY SAID IT WAS BECAUSE OF THE DATA PROTECTION ACT BUT WOULD DIRECT PEOPLE TO THE FORUM, I DOUBT THEY HAVE!!

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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: Coral Sea Pearl information and advice
PostPosted: Sat Aug 08, 2009 10:36 am 
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RivermeadGlobal wrote:
CELF wrote:
Welcome to the forum Donah.... I can assure you everything is in place eg security checks etc... for the HRA/DWS to carry out this work for us....
Have taken on board what you have said about GT and we asked for the info you stated along time ago and they were unable to help... sorry can't remember why now... THEY SAID IT WAS BECAUSE OF THE DATA PROTECTION ACT BUT WOULD DIRECT PEOPLE TO THE FORUM, I DOUBT THEY HAVE!!


And unfortunately if these people are not computor literate, they still won't find us


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Mon Aug 10, 2009 5:33 pm 
I have 40% for an appartment CPS. The agents have gone into administration. and i was advised to use a solicitor.I was given a solicitors details and told to to let them have the details regaing the purchase and send them £500. I then spoke to the solicitors. who stated they would negociate with ER. And that completion would cost another £200. I have not paid the £500 yet and when i contacted them to pay it, and confirm what the position was. i was told i would be called back. However, I have not been called back. So what do i do. I remorgaged my house to pay for this, as my daughter has special needs and this investment was suppose to pay for the specialist teaching she requires.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Tue Aug 11, 2009 10:51 pm 
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Quote:
I have 40% for an appartment CPS. The agents have gone into administration. and i was advised to use a solicitor.I was given a solicitors details and told to to let them have the details regaing the purchase and send them £500. I then spoke to the solicitors. who stated they would negociate with ER. And that completion would cost another £200. I have not paid the £500 yet and when i contacted them to pay it, and confirm what the position was. i was told i would be called back. However, I have not been called back. So what do i do. I remorgaged my house to pay for this, as my daughter has special needs and this investment was suppose to pay for the specialist teaching she requires.


My colleague, who like myself has also purchased at CSP (40%) through the same solicitor. I've paid the full £500 for him with many others to negotiate with ER but my colleague has paid only £200 because rightly so, he wanted to know where the money was going! To date after a number of e-mails he has yet to have a reply! I find it difficult to put my hand back in my pocket for more money to another solicitor to take this debacle forward.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Wed Aug 12, 2009 8:08 am 
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Hi Lance42 & Leonamegan

The only advice I can offer you is to join the HRA. The HRA already has many members from CSP. The cost is £400.00. For this you get the initial unbaised legal report and become a fully paid up member of the HRA. The initial £100 is for the unbiased report and the remaining £300 is to pay for the legal services of DWS, who are an International Law Firm, to negotiate a settlement for all of us.

I can understand that you do not want to spend any more money but to be able to secure your apartment, that you have already spent thousands of pounds on, £400.00 is not alot of money.

The HRA is a Company set up to sort out DP1 & DP2/CP. We are over 100 members now and have progressed well. Read the 'Latest Update HRA/DWS Legal Action 11.8.09.' posted by Hurghad1. As a big group represented by a large International Law Firm, DWS, we have a lot of clout.

To be part of it, you need to join the HRA. Once you have paid your £400.00 to DWS and it is confirmed by DWS, you then become a fully paid up member of the HRA and have access to the private forum, which is locked to everyone else. On this forum is confidential information that will keep you updated as to the progress of DWS.

DWS will be negotiating on a per apartment basis for each developement. As the land owner is the same for DP2 & CSP and there is no mortgage on the land, the negotiations will be discussed as a separate issue to DP1.

What is you alternative if you don't join the HRA?

I have joined the HRA from the very begining, with no regrets and am pleased that they have made such great progress.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Thu Sep 03, 2009 10:53 pm 
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Pinacolada

The only advice I can offer you is to join the HRA. The HRA already has many members from CSP. The cost is £400.00. For this you get the initial unbaised legal report and become a fully paid up member of the HRA. The initial £100 is for the unbiased report and the remaining £300 is to pay for the legal services of DWS, who are an International Law Firm, to negotiate a settlement for all of us.

I can understand that you do not want to spend any more money but to be able to secure your apartment, that you have already spent thousands of pounds on, £400.00 is not alot of money.

The HRA is a Company set up to sort out DP1 & DP2/CP. We are over 100 members now and have progressed well. Read the 'Latest Update HRA/DWS Legal Action 11.8.09.' posted by Hurghad1. As a big group represented by a large International Law Firm, DWS, we have a lot of clout.

To be part of it, you need to join the HRA. Once you have paid your £400.00 to DWS and it is confirmed by DWS, you then become a fully paid up member of the HRA and have access to the private forum, which is locked to everyone else. On this forum is confidential information that will keep you updated as to the progress of DWS.

DWS will be negotiating on a per apartment basis for each developement. As the land owner is the same for DP2 & CSP and there is no mortgage on the land, the negotiations will be discussed as a separate issue to DP1.

What is you alternative if you don't join the HRA?

I have joined the HRA from the very begining, with no regrets and am pleased that they have made such great progress.



In response to the above, are you saying that the majority of members of the HRA now have two firms of solicitors i.e DWS and solicitors used in initial negotiations of purchase, acting on their behalf to fight their corner in securing what is rightfully their property?


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Fri Sep 04, 2009 5:32 pm 
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No, there are not 2 Solicitors. The International Law Firm, Denton Wilde & Sapte, have worked for the HRA right from the start.

We all initially paid £100.00 to DWS for an unbiased legal report. Once this was obtained, it was decided to continue with DWS and try to secure ownership of our apartments.

In order to continue, the estimated cost per purchaser was a further £300.00. If we get enough members and there is any money left in the kitty after the negotiations, we will all be due a refund or it could possibly be used to pay towards your new contracts, which DWS will also be negotiating for, for DP1 and DP2/CSP.

It would not be fair, if all the new members did not pay for the initial unbiased legal report, especially as this report was the basis for continuing the legal fight.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Fri Sep 04, 2009 11:15 pm 
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No, there are not 2 Solicitors. The International Law Firm, Denton Wilde & Sapte, have worked for the HRA right from the start.

We all initially paid £100.00 to DWS for an unbiased legal report. Once this was obtained, it was decided to continue with DWS and try to secure ownership of our apartments.

In order to continue, the estimated cost per purchaser was a further £300.00. If we get enough members and there is any money left in the kitty after the negotiations, we will all be due a refund or it could possibly be used to pay towards your new contracts, which DWS will also be negotiating for, for DP1 and DP2/CSP.

It would not be fair, if all the new members did not pay for the initial unbiased legal report, especially as this report was the basis for continuing the legal fight.


Thanks pinacolada, my colleague and i have paid a large amount of money to a solicitor to conduct due diligence, searches and contracts etc. Then a further £500.00 to try and sort out the problems with ER. Sorry if im repeating myself but is that all you've paid is £400.00?


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sat Sep 05, 2009 7:52 am 
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Hi Lance.

Yes all I have paid so far is £400.00 to DWS. £100.00 for the unbiased legal report and £300.00 towards legal costs for the negotiations.

I am, however, expecting to pay extra for DWS to draw up my new contract. Remember we have over 100 members of the HRA, which helps keep the costs down. We are also banded together to try to get the best negotiation settlement for all members of the HRA in DP1 and DP2/CSP.

I cannot discuss too much on the general forum. Most information is now discussed on the private member forum, which is exclusive to fully paid up members of the HRA.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sat Sep 05, 2009 10:08 am 
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Hi Lance.

Yes all I have paid so far is £400.00 to DWS. £100.00 for the unbiased legal report and £300.00 towards legal costs for the negotiations.

I am, however, expecting to pay extra for DWS to draw up my new contract. Remember we have over 100 members of the HRA, which helps keep the costs down. We are also banded together to try to get the best negotiation settlement for all members of the HRA in DP1 and DP2/CSP.

I cannot discuss too much on the general forum. Most information is now discussed on the private member forum, which is exclusive to fully paid up members of the HRA.


Thanks Pinacolada,

You've probably received the same although, I'll have to check my lottery ticket because im sure some people think i won the top prize! Just received a letter from Peter MORRIS wanting £570.00 to go towards legal costs to take court proceedings against El RAWAN and El RIAD!!! However that said, im sure it would be more profitable to build the sodding developments and screw us financially once we're in!!!


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Sep 06, 2009 8:29 am 
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Hi Lance

Sat and read through my Peter Morris letter again last night. Nearly fell off my chair laughing. He first states that WWD Egypt has no funds at all (no surprise there then). Then asks for £570.00 from all new Clients, which he will use to:
1. Pay for the day to day running costs of his Company in the UK.
2. Pay for the court proceedings against ER/Rawan to force them to work with him.
3. Conduct negotiations with the relevant parties in Egypt (including legal fees).
4. Pay for and open a new office in Hurghada and pay for the day to day running costs.
As a special bonus, he may negotiate for you to pay a reduced annual maintenance fee over 6 years.

I'm sorry but just how much money do you reckon all the above will cost and how many Clients would he need to make it happen. Oh! and if he doesn't get enough money, he'll refund you your £570.00 but deduct £57.50 for the Company costs incurred in dealing with you. Anyone paying Peter Morris must need their head examining.

It looks like you'd be paying to set Peter Morris up in a new business. With DWS, you are just paying for the legal fees to secure your apartments.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Sep 06, 2009 9:46 am 
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Well said Pinacolada Could have not have explained any better myself!


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Sep 06, 2009 10:34 pm 
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Hi Pinacolada,

That was very well summarised, wish i'd read your post before the MILLS and BOON novel. I find it remarkable however, that he spends 73 days in Alcatraz then when he's released he has to remain in Egypt for over two months to remove his name from the "Stop List." He eventually returns home and now wants to go back and set up an office in HURGHADA! Anyway on a lighter note i mentioned in a previous post that some people must have thought i'd won the lottery, well i did. I'm part of a small syndicate and we won £76.00, 4 lines on one ticket and three lines on another! The National Bank of ABU DHABI here i come!

Once you lose trust you lose everything


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Tue Sep 08, 2009 9:07 pm 
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Hi Pinacolada, can I ask a daft question please?
I'm a fully paid up member but have no idea how to access the private members forum.
Can you assist please?
Thanks a lot,
Sharon


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Wed Sep 09, 2009 7:53 am 
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I have checked on the HRA Members list and you are definitely on there.

At the top of this log in page, there is a separate forum showing for HRA Members only. This forum is only available to fully paid up members. If you click on it, it should take you to a new list of topics.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Mon Oct 05, 2009 5:12 pm 
Hi, i have purchased an appartment in CSP and have paid 40% of the asking price. I work for a UK based investigations company and have spent many hours researching all matters in relation to WWD and sister companies. I am at a stage where a cannot trust anyone or anything said when it comes to the properties we have invested in. This also goes for Grant Thornton aswel as they may have a conflict of intrest's because of the fact the are dealing with the will of SW and the estate. I am not sure i am willing to part with any more money as i feel we will not get our apartments as promised although i maybe convienced otherwise by my property partners. I have recieve an email from grant thornton today 5/10/2009 which i think is pushing people to go with PM as this would be our best shot to get our apartments. I have never experience any problems like this before and have complete on other properties which i am very happy with.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Mon Oct 19, 2009 3:28 pm 
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Stanley wrote:
Hi, i have purchased an appartment in CSP and have paid 40% of the asking price. I work for a UK based investigations company and have spent many hours researching all matters in relation to WWD and sister companies. I am at a stage where a cannot trust anyone or anything said when it comes to the properties we have invested in. This also goes for Grant Thornton aswel as they may have a conflict of intrest's because of the fact the are dealing with the will of SW and the estate. I am not sure i am willing to part with any more money as i feel we will not get our apartments as promised although i maybe convienced otherwise by my property partners. I have recieve an email from grant thornton today 5/10/2009 which i think is pushing people to go with PM as this would be our best shot to get our apartments. I have never experience any problems like this before and have complete on other properties which i am very happy with.


Hi Stanley, I am in the same position as you paid 40% on an apartment in CSP. Not a lot we can do at the moment apart from sit and wait to see what happens to DP1. I have paid £400 to become a full member of HRA and have DWS try and negociate a reasonable settlement for me but they are concentrating their efforts on DP1 right now as that is complete and people are waiting to get their apartments.

I guess the best outcome would be that after DP1 & DP2 have been sorted El Riad will agree to complete CSP without asking us for more money but I think thats unlikely.....its a waiting game for us.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Wed Oct 21, 2009 8:20 pm 
Hi agian, I have recieved another email from PM about joining his efforts to aquire our apartments. I am not sure what to do, half of the residents are here and some are lost and PM must have some too. would'nt it be the best policy to all stick together?. This seems not to be happening.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Wed Oct 21, 2009 8:39 pm 
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Posts: 34
Stanley wrote:
Hi agian, I have recieved another email from PM about joining his efforts to aquire our apartments. I am not sure what to do, half of the residents are here and some are lost and PM must have some too. would'nt it be the best policy to all stick together?. This seems not to be happening.


go your own way friend , but my advice is pay in full to DWS .(up to you)


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sat Oct 24, 2009 1:34 pm 
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Posts: 142
Hi

I have just spoken with Neil Hollingsworth regarding the meeting last night between DWS and El-Riad and he has stated that DP2 & CSP were not discussed at this meeting and also that DWS have been instructed not to offer any extra for DP2 or CSP.

Regards


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Mon Nov 09, 2009 10:49 am 
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I would be very interested to know if there are members of the HRA who are also with other groups trying to secure their apartments..
I am just wondering if anyone has managed to secure their apartment or had at least confirmation that their apartment is safe, meaning they have not been asked to move etc..just checking if it is across the board
Please pm me....


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Jan 17, 2010 1:23 pm 
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Posts: 2
Has anyone received email from Mohammed Hussein asking if they would like to exchange apartments for another which is close to completion ?


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Sun Jan 17, 2010 9:28 pm 
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Posts: 3
Hi Rayk
Yes..I have. He is offering a like for like apartment in "Pyramid Beach" development and saying that my 40% deposit that I paid for CSP will be honoured.

Right now I can't quite work out why hw is doing this but am also thinking if I can get a legitimate NEW contract on another development (is Pyramid Beach) then what have I got to lose??

Am i missing something here or just placing trust where it shouldn't be placed.

What does everybody think??

Tony Stock


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Mon Jan 18, 2010 10:03 am 
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I agree Tony. We are in a slightly different position with CSP then those who have DP1 as their apartments are already completed. They way I see it is that we have paid 40% and have no apartment yet and to me looks like we wont see our money either in the short term. If we can exchange for a like for like in a decent place for the same money and our 40% deposits are honoured then its worth having a look.

Pyramid Beach is the development he is offering.

The only thing we have to be cautious of is making sure we get a good egyptian solicitor to make sure any new contracts are tight and that the remaining money 60% is held in an indermidiate account and is only transffered to the El Riad upon completion and registration of the apartments in our name.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Thu Jan 21, 2010 4:10 pm 
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Hi Rayk

Yes..I think whatever happens we do NOT want to be parting with any money until completion...a top cairo lawer would be crucial here I feel.

Anyway Mohamed is now requesting a copy of my passport etc so he can draw up a contract for me and I have already selected and reserved the apartment that I want at Pyramid beach.

Obviously I'm not going to rush straight in and sign it but when it arrives I shall certainly be studying it very cafefully, seeking advice and considering my options.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Wed Feb 10, 2010 12:46 pm 
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I got my email from Mohamed alst week and whenever I emailed him he answered staright away. Very unlike him. I have now slected my apartment and asked a question and now i havent heard back from him. I rang the office and they said he didnt work there so not sure whats going on. I will not be aprting with anymore money even though he said it was a like for like swicth. Will see...
Richard


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 Post subject: Congratulations on Christmas!
PostPosted: Fri Jan 07, 2011 4:19 pm 
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Posts: 1
Congratulations to all a Merry Christmas and wish you happiness, health and more money!


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Tue Jan 11, 2011 12:49 pm 
Dear All

After careful consideration over the past weeks and months I have not being able to get away from the facts that ER are just trying to extract as much money from investors in any underhanded way possible with no real sight that we will ever get a property legal or not legal. I have decided that I am not going to continue giving ER any more of my hard earned money.

I think I have explained all the reasons (FACTS) why I have come to this decision and if you wish to see them please follow these links:

http://www.propertycommunity.com/forum/ ... ad-26.html

http://www.webworldproperty.com/forum_p ... 1406&PN=72

The main fact is, ER is a repeat offender in taking money and not delivering properties so WHY are they going to change now? All that I can see happening is that we all end up paying more and more money to them and eventually we will end up without a property. Out of the many 100’s of investors, WHO has?

So I have taken the decision to move to another development as there is a local, reputable builder that is building a similar development in the same area which has ACTUALLY got workers on, has ACTUALLY got planning permission, will be completed this year and the builder has agreed to accept only the 60% that I would have paid ER as full payment on one of his properties, so this really was not a hard decision to make. I will have a property nearly identical to my original one “PURCHASED” or “NOT” from ER for my remaining money. I will have a contract direct with the builder, stage payments over the completion on a development set at build stages and that has got full due diligence. The biggest incentive though is that I am out of the ER trap.

On another note for all the o**c investors as this is a PB thread, the builder I have spoke to informed me that they have an agreement in place with o**c that any of their clients who wish to transfer to his development can do so at no extra cost, all they would have to pay is their original outstanding monies owed. This however does come with a provision, ER would have to pay any monies paid by o**c direct to the new builder, which should not be a problem as ER have defiantly not spent the money on “PB” but I suppose anything can be worked out.

Anyway I thought I would let you all know what I have found out and If after reading what has been said now and on my prior posts and want to take the same decision I have then PM me for more information or the builders direct contact details then I will be more than happy to help anyone get away from the ER trap.


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 Post subject: Re: Coral Sea Pearl information and advice
PostPosted: Wed Jan 12, 2011 10:58 am 
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Location: Oldham/Manchester
gcole60 wrote:
Dear All

After careful consideration over the past weeks and months I have not being able to get away from the facts that ER are just trying to extract as much money from investors in any underhanded way possible with no real sight that we will ever get a property legal or not legal. I have decided that I am not going to continue giving ER any more of my hard earned money.

I think I have explained all the reasons (FACTS) why I have come to this decision and if you wish to see them please follow these links:

http://www.propertycommunity.com/forum/ ... ad-26.html

http://www.webworldproperty.com/forum_p ... 1406&PN=72

The main fact is, ER is a repeat offender in taking money and not delivering properties so WHY are they going to change now? All that I can see happening is that we all end up paying more and more money to them and eventually we will end up without a property. Out of the many 100’s of investors, WHO has?

So I have taken the decision to move to another development as there is a local, reputable builder that is building a similar development in the same area which has ACTUALLY got workers on, has ACTUALLY got planning permission, will be completed this year and the builder has agreed to accept only the 60% that I would have paid ER as full payment on one of his properties, so this really was not a hard decision to make. I will have a property nearly identical to my original one “PURCHASED” or “NOT” from ER for my remaining money. I will have a contract direct with the builder, stage payments over the completion on a development set at build stages and that has got full due diligence. The biggest incentive though is that I am out of the ER trap.

On another note for all the o**c investors as this is a PB thread, the builder I have spoke to informed me that they have an agreement in place with o**c that any of their clients who wish to transfer to his development can do so at no extra cost, all they would have to pay is their original outstanding monies owed. This however does come with a provision, ER would have to pay any monies paid by o**c direct to the new builder, which should not be a problem as ER have defiantly not spent the money on “PB” but I suppose anything can be worked out.

Anyway I thought I would let you all know what I have found out and If after reading what has been said now and on my prior posts and want to take the same decision I have then PM me for more information or the builders direct contact details then I will be more than happy to help anyone get away from the ER trap.


I find it quite interesting that you are trying to get El Riad to pay money back to a company that no longer exists and the directors are in fact under investigation for large scale fraud by the UK police, plus as mentioned by another investor the due diligence was carried out by Philip Morris, can you explain these actions?

_________________
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: Coral Sea Pearl information and advice
PostPosted: Thu Jan 13, 2011 11:10 am 
RivermeadGlobal wrote:
gcole60 wrote:
Dear All

After careful consideration over the past weeks and months I have not being able to get away from the facts that ER are just trying to extract as much money from investors in any underhanded way possible with no real sight that we will ever get a property legal or not legal. I have decided that I am not going to continue giving ER any more of my hard earned money.

I think I have explained all the reasons (FACTS) why I have come to this decision and if you wish to see them please follow these links:

http://www.propertycommunity.com/forum/ ... ad-26.html

http://www.webworldproperty.com/forum_p ... 1406&PN=72

The main fact is, ER is a repeat offender in taking money and not delivering properties so WHY are they going to change now? All that I can see happening is that we all end up paying more and more money to them and eventually we will end up without a property. Out of the many 100’s of investors, WHO has?

So I have taken the decision to move to another development as there is a local, reputable builder that is building a similar development in the same area which has ACTUALLY got workers on, has ACTUALLY got planning permission, will be completed this year and the builder has agreed to accept only the 60% that I would have paid ER as full payment on one of his properties, so this really was not a hard decision to make. I will have a property nearly identical to my original one “PURCHASED” or “NOT” from ER for my remaining money. I will have a contract direct with the builder, stage payments over the completion on a development set at build stages and that has got full due diligence. The biggest incentive though is that I am out of the ER trap.

On another note for all the o**c investors as this is a PB thread, the builder I have spoke to informed me that they have an agreement in place with o**c that any of their clients who wish to transfer to his development can do so at no extra cost, all they would have to pay is their original outstanding monies owed. This however does come with a provision, ER would have to pay any monies paid by o**c direct to the new builder, which should not be a problem as ER have defiantly not spent the money on “PB” but I suppose anything can be worked out.

Anyway I thought I would let you all know what I have found out and If after reading what has been said now and on my prior posts and want to take the same decision I have then PM me for more information or the builders direct contact details then I will be more than happy to help anyone get away from the ER trap.


I find it quite interesting that you are trying to get El Riad to pay money back to a company that no longer exists and the directors are in fact under investigation for large scale fraud by the UK police, plus as mentioned by another investor the due diligence was carried out by Philip Morris, can you explain these actions?


No Neil .....if you read my post I said that the money can be paid to the BUILDER direct, not a 3rd party. And as for the DD then just because Phillip “HAS” done a DD does not mean another company cannot do it and HAS and I have checked all the details myself.

And if as you say that ER are losing millions!!!!! Through this deal then there should be no problem giving up the money and offloading the big burden to them????? But NO, ER are asking 60% from these investors and profiteering. If not then they would be asking for just the remaining money to pay like another builder is. As we stated before 60% of the final sale price is 120% of ER original price so they are making a lot of money that is why all this is happening.


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