Comments on: Desert Pearl Development fiasco in Hurghada, Egypt

By: Queens Birthday Ball | Property in Hurghada

Queens Birthday Ball | Property in Hurghada — Thu, 08 Jul 2010 16:08:14 +0000

[...] to all the work I have been involved with in Egypt over the past 2 years, dealing with the Desert Pearl Fiasco, I had the pleasure of being invited to celebrate the Queens Birthday at the British Embassy in [...]

By: Neil Hollingsworth

Neil Hollingsworth — Tue, 08 Jun 2010 09:00:14 +0000

Hi Jayne, things are progressing however, the land situation on which these three developments are built is a disaster. There are mortgages, court cases, double selling etc… Because of this we have been negotiating with El Riad to find a solution and we are in the process of discussing a swap from Desert Pearl 1, 2 and Coral Sea Pearl to a new development which our solicitors Denton Wilde Sapte (Cairo office) are checking all the documents on to ensure you don’t all end up in the same mess again. It has been 2 years of hard work but I think we are finally getting somewhere, please contact us if you would like further details, we have over 200 other buyers in the same situation as you.

By: Jayne Knott

Jayne Knott — Sat, 05 Jun 2010 06:27:14 +0000

What an utter fiasco. Does anyone actually know if any of these developments are to be completed? I have tried to get answers from everyone involved, el Riad, United Lawyers Egyptian Conculate, British High Commision-no luck, not even acknowledgement.

If I get anything back, it will certainly not be re-invested in Egypt!!!

By: Jay C

Jay C — Thu, 06 May 2010 16:41:08 +0000

Neil from Rivermead has been very helpful to me right from the beginning and has never discarded me. He has provided support and information throughout this whole ordeal and deserves all the praise he gets. His customer service is outstanding and he always gets back to me when I have a query. Other Sales People should look at him as exemplary. Thanks Neil. A+++++ Stars!

By: wayne ghosh

wayne ghosh — Mon, 22 Feb 2010 13:23:59 +0000

What has further made matters worse is all through 2009 elriad were asking investors of these developments and now my coral sea pearl investment to stump up yet more money , sign contracts that were meaningless to further their own gain, knowing full well that they owed mortgage on land and buildings. Further more, questions need to be asked of those still involved in selling for them. Now i learn that land that coral sea pearl is under ambiguity. People who are being moved to other developments will undoubtedly be suffering a similar fate. is land that lotus breeze on the same?? Are residents of suleder safe? The main issue is Elriad. Are they a construction company or a vehicle to launder money. Time for this company to be stopped from trading.They are irresponsible liars. Stupidly, they have communicated openly in forums and by email. They have told lies for everyone to see.They have sent emails to me telling me my apartment was safe, that signing a contract with them would guarantee this. They told me wwd had paid them money and everything was ok. They sent letters for such to property community. They told everyone wwd never had power of attourney yet sent letters confirming that wwd did. They told me the mortgage was not theirs. They have told me to send them copies of passports and documents and have not used them. The last i know is that coral sea pearl is not being completed. Why they are allowed to trade is anyones guess.
Time for those involved to get their money back..

By: wayneghosh

wayneghosh — Sun, 06 Dec 2009 18:17:45 +0000

we are in a complete limbo state to the tune of 6k.and although small in comparison to some investors, this has caused untold stress and burden on us as small family with no way of any resolution. As with hurghada village residents, simply giving yet more money to elriad has not worked despite all assurances and recent defending and championing them. I would say the elriad ” at least we’re still here ” excuse is now proving to be very boring and very lame as they are still building more properties and not finishing any of them at all. I would go as far as saying that i would like these guys to stop all together , that way people would not have to put up with the mess they cause . Investing with this shower of cretins is seriously damaging to ones health. I would be delighted if Neil from rivermead would be able help us get back our funds somehow, and although Neil and I have not always seen eye to eye, he has done some hard work trying to remedy the situation or help where possible. I didnt have any sales job from Neil . He simply gave factual information and provided it when asked. Where two people recently told me ” I should have invested directly with elriad” this simply is not the case. WWD were developers delivering this project along with elriad!! They along with wwd are contractually obliged to deliver this project. The point therefore that my investment with elriad is totally irrelevent. It was a simple transaction.. i saw a property on right move… i called neil, he gave me the info i wanted and i made a concious decision to invest. If neil somehow came up trumps for us and we got our deposit back, i would consider investing elsewhere through him and I am happy with the service provided by him.

By: Sueand Richard Garman

Sueand Richard Garman — Thu, 03 Dec 2009 13:43:20 +0000

We heard about this development through an agent who has since left the UK and went straight via WWD. We paid 100%, had furniture installed, paid El Riad another £2000 +, were promised a contract, even had tenants! Following the bullying and harrassment the tenant left and our keys are now apparently at the Police Station! We then heard about HRA and after reading about it decided to join. Even though Neil isn’t our agent he has been absolutely fantastic and we trust him 100%. He’s not doing this for personal gain, he’s doing it because he has standards and obviously integrity. I cannot imagine the man hours he’s put into this on behalf of everyone, but let’s just say, if we to ever consider investing again, Neil would be our only call. A huge heartfelt thanks to Neil and all that he is doing on behalf of us.

By: Mark Colding

Mark Colding — Wed, 02 Dec 2009 22:10:05 +0000

I’m looking to buy property in Hurghada and was searching the internet when i came across this blog. It’s shocking to hear how some people have been treated! It’s nice to see an honest agent looking after you all during this mess.

Good luck to you all!

By: carol sales

carol sales — Sat, 28 Nov 2009 18:38:36 +0000

In March 2007 I paid 40% deposit on a 3 bed appt in Hurghada through WWD/WWDE, shortly after I paid half the cost of the furniture pack.
In march this year after being told business as usual WWD was passed to Grant Thornton to be liquidated. Since then I have had mails from El Riad saying my appt is safe, then later found posts on forums saying we will not get these appts.
In the meantime the furniture company, in danger of going to the wall also, paid us all half of the money we had paid. I have no information about who is responsible for this fiasco.
Neil has bought us all together with the hurghada residents association and I can honestly say he is the only one I trust in all the people I have dealt with.
All except him require more money from me with no more or perhaps even less guarentee than we have with HRA.
If at the end we loose these appts my respect and thanks to Neil will remain. He has given so much of his time with no financial gain and has not given up

By: Tim

Tim — Fri, 27 Nov 2009 14:03:27 +0000

Having bought , or at least thought i bought a property in Egypt over 2 years ago everything has sonce turned in to a nightmare. I have never dealt with so many sneaky lying people all trying to take your money off you all pretending to be on ‘your side’

To this date I still dont know who for definite is responsible but i get the impression it a larre net work of people.

I can honestly say the only the only person I have trusted through this whole process is neil and he didnt even sell me my property! In the early days you heard people promising things and on a couple of occassions i looked at what they had to say but they ended up like the rest trying to make me pay more money!

What ever happens in all this – even if i lose my property I have a lot or respect in Neil and the way he has conducted himself and the way he has not given up and to no financial gain to himself.

Good work neil!