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Sharm el Sheikh: What’s a real estate contract worth? Nothing or less?

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  • Sharm el Sheikh: What’s a real estate contract worth? Nothing or less?

    There are many good points of Sharm compared with Europe. In just a few words; always sun, nice diving and everything is cheap. With just 4 to 6 hours flight time buying real estate here becomes more and more popular. But after living here a while, we start mentioning the drawbacks easier then the reasons we came here for. We find out that the nice project of the residential complex called "Sharmcliff", located in the center of Hadaba, is still a building site after three years.
    Didn’t it mention 11.250 sqm total green area of green and a 250 sqm swimming pool in the contract? Where are the services and facilities written, as well, in the contract? Central satellite TV, Security service 24 hours per day, Pool cleaning on a daily bases, public area cleaning, Maintenance of public areas, lighting and gardens, Collection and disposal of rubbish. Bricks are lying where the green should be and the swimming pool is still a sandy hole in the ground. If we could see at least a little progress it would be okay, but since 2006, when we move inn, the only thing that’s growing is the garbage and the sewage coming out from the pipes. The only activity is from the fast growing rat population. I can hear you think, but a contract? Of course, we thought we covered everything with a nice contract (regularly registered) when we bought the place even through Pioneer Property, one of the biggest and reliable British agent in Sharm who gave us 100% guarantee about the project owner! The tenth time the companies cut the power and water in the whole complex because the project owner did not pay the money to the electrical and water company for a total of 20.000 le!!, after we paid him every single month our private usage, (at double the tariff) we settle on just having the electric and water meter on our names. But we had to share and pay ALL the debt to have water and power back! We hire a Lawyer and start a Court Case in El Tour. It should be just a formality, because it’s between us and the power and water company, without any involvement of the project owner. We are still waiting for the outcome of the court case since the month of October 2007! But in the mean time the project owner is refusing to pay any single pound to water and power company until when we take back the charges. The total consumption we have to pay is for the all compound and includes also the 6 flats owned or rented out by the project owner, and the lodgers are regularly paying their usage to the project owner. Is maybe called...
    blackmailing...?? Well... power and water are the basic need for a decent life, so we have no other choice than to pay! So every month we pay far too much!! Is it fair?? Minister of Tourism and Minister of Investment are not interested. So we had an appointment with the South Sinai Governor. He has a bit more influence and political power for Sharm. Is he willing to give a helping hand? For heaven sake, children are living next to apartments stuffed with garbage, walking down stairs without handrails, playing around electrical cabins with open copper wires. We are still waiting for an outcome. We are surrounded by hotels and a big shopping center. Is not a nice view for tourist walking by. We have been attacked, threatened, insulted and badly treated by the project owner. Dozen of police reports have been made. Action will be taken? We sue the developer for breaching the contract asking refund of the amount paid for the flats plus compensation for the entire tort. Court case takes long time, even if our lower is taking care and following it up. For how long we will have to suffer? Journalist from Cairo heard about us and we had a page article on the newspaper “Sot el Omma” on the 14th of April 08.
    The question now, do we deserve such humiliation and intimidation and abuse as we came to Egypt and decided to invested our savings? Is it because we are foreigners nobody cares about us... This mismanagement and malpractice starts to be known in Sharm el Sheikh and can spoil the good reputation of real estate investment in Sharm.


    More info in our website sharmcliff()info
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