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Egypt - an Investment Dream?

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  • #16
    Re: Egypt - an Investment Dream?

    Egypt is a nightmare. Anyone who invested there in the last few years is now living to regret it. Quite apart from the ongoing troubles, developments are in major problems with developers running off with investors money, unfinished projects, poor workmanship on those which are finished.
    No one in their right mind would invest there now.

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    • #17
      Re: Egypt - an Investment Dream?

      Was in a hotel built for a major hotel chain within the last five years. Even in our ground floor room there were major cracks. Suggestion was that the place may be subsiding due to poor work practices during contruction.

      Definitely took it as a warning on new builds abroad.

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      • #18
        Re: Egypt - an Investment Dream?

        Egypt is too hot...)))

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        • #19
          Re: Egypt - an Investment Dream?

          It is now 2012, Six months since I last heard from Zeiad Yehia and Edgebridge Law Firm. Zeiad has a signed contract for an apartment in my name yet I still have had no word from him. In my experience it has been a case of the carrot and the stick. Forever travelling to Egypt and being asked for Money with no real transparency in hope of recouping my investment. If anything Zeiad’s silence, the fact that he has a verified signed contract yet refuses to communicate or answer questions can only mean one thing to the "reasonable person".

          I would also add that his Business Partner Ezzat El Sayem, who sent me requests for money and threats through facebook, is still listed on Edgebridge Law Firms web site. This is after apologies and assurances from Zeiad Yehia and Edgebridge Law Firm that he was no longer with the company.

          I would also add that Peter Mitry from Egypt Real, Ergo Homes amongst others was involved in this business. When I started asking awkward questions and being a pain, Peter Mitry distanced himself and even went so far to say I was not his client. I have many detailed emails from Peter Mitry of Egypt Real and Ergo Homes giving me instructions on this business, what he was to be paid if successful and monies payable to Edgebridge Law Firm. Also arrangements for trips to Egypt and even picking me up at the Airport!

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          • #20
            Re: Egypt - an Investment Dream?

            Originally posted by slavipz View Post
            I wouldn't invest in Egypt in anyway. Have you ever been there? Most of the people are trying to get money of of you and for any reasons... it was a nightmare...
            And this is the main reason why after visiting there some years ago that I will never go back. Personally, having an idea how corrupt Egypt can be, I'd never consider investing there.

            The recent troubles will have only made things worse. You'd be mental to even consider buying there these days. Avoid like the plague.

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            • #21
              Re: Egypt - an Investment Dream?

              @Moby Jones is the situation really bad ? I have been considering for quiet a long time and have been reading a lot about their markets as well. They seem to very volatile would you consider it as a risk ?
              Buy To Let Mortgages | UK Buy To Let Insurance from the Experts

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              • #22
                Re: Egypt - an Investment Dream?

                Originally posted by brian View Post
                Egypt's actually one place I've been thinking off - I figure you can't get many destinations as in demand as Egypt, but there's always a concern that the Red Sea Riviera just isn't going to deliver quality building for investment. I'm actually hoping to take a look soon enough, though, just to check.
                New Orascom developments (El Gouna, Taba, etc.) in Egypt and Oman are fascinating. However, I'm a little reluctant to jump at that straight away.. - the political situation in Egypt (and the whole region) is still quite unstable. The turmoil is spreading to Turkey, too, so I think I'll stick to more 'traditional' investment choices, like London or Hong Kong, for a while.
                Invest to travel and travel to invest

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