Bad bad bad kingdom resort investment under Beekman Group

My experience with Beekman Group has been nothing but a bad investment nothing compared to what their sales people sells to you. I bought into Kingdom flexi week share for 2 and 3 bedroom cash, investing R236 000 in 2018 with month levy Payments amounting close to R14k or more for both units. Not to write a very long hurtful story I will highlight the important facts.

On the 17th March 2018, I entered into an agreement of sale with the Kingdom Vacation Club administered by the Beekman Group. I bought 2 shareblock units, 2 bedroom unit valued at R104 000.00 and 3 bedroom unit valued at 132 700.00 in total I invested R236 000.00

One of the conditions communicated to me was that the levy amount of both units is expected to be paid on or before the end of January every year and I always paid my levies upfront with a deduction of R1500 per month from my bank account. The whole amount paid in levies is R63 350.00 (2018 - R14727.00, 2019 - R15 475.00, 2020 - R16249.00 and 2021 - R16899.00).

In 2019, as per the agreement that owners must inform Beekman Group the beginning of the year if they will want to put their points in a pool, which I opted for rental pool, the returns on both units in 2019 was R20 921.19. Keeping in mind that I paid R15 475.00 for levies so my actual return in 2019 was R5 446.19 (R20 921.19 - R15 475.00 = R5 446.19).

In 2020, due to Covid 19 pandemic and the introduction of lockdown, we were notified by the Beekman Group that our weeks for the period of lockdown level 4 and 5 they will be turned to points and owners should respond within a particular timeframe if they agree to turn their weeks to points or not, which I responded that I want my week to be turned to points. The other week fell on the eased lockdown where accommodation and vacations were allowed. My return was R2 981.93, keeping in mind that a payment of R16 249.00 for levies was made and No relieve was offered to us we sticked to the agreement regardless of the abnormal situation the whole world found itself in. Which mean in 2020 we completely run at a loss due to Covid 19 pandemic and lockdown. The week that was promised to be turned to points did not happen until I constantly called Beekman Group for several times and only in March 2021 the matter was resolved and my account was credited in points which I do not know what the value of the points are. I feel aggrieved by how Beekman Group handled this matter.

I then decided to resell my weeks due to the low returns on this investment since it was bought. I wrote an email to the Group on the 25th January 2021, requesting to resell both my units and I was informed that the request will be sent to the developer and I can expect the response after 8 weeks. On the 7th April 2021 I received a letter from Beekman Group offering me R106 515.00. The letter was is not clear if the amount is for both my units/weeks and then on the same date responded to Beekman Group requesting information or clarity if the offer is for both weeks. They responded and confirmed that the amount offered is for both units/weeks.

I am seriously aggrieved by this offer, it is really a slap on the face. How is it that I invest R236 700.00 for units + R63 350.00 for levies = R300 050.00 and I am offered R106 515 to resell. I feel seriously ******.

I tried taking legal action and I was advised that I should started registering my matter with the ombudsman (Mpho Neluheni was a person handling my case) which I did and Beekman responded to them and copied but until today after many emails requesting that they provide me with their findings and nothing has come forth, I am not sure if I will be wrong to suspect that my case was not treated fairly, reasons I would know with the high level of *******ion in this country nothing is impossible. I ended up accepting the offer because of the unjust system of the people who suppose to help us and with the impact of Covid 19, I need my money to survive so I accepted under pressure, I even wrote to them about my unhappiness and the pressure am in to accept the offer when submitting my offer form.

Thinking that my nightmare was over but still heart broken. I booked for a family vacation for the 1 -4 October 2021 using 7800 for an 8 sleeper unit. Today, the 13th September 2021, I called them to ask if I can postpone my booking to the 3rd - 6th October or any other days available, the lady who assisted me told me that I am going to loose my whole points just to postpone to another day, guys this is seriously a ****************, I have never experienced this kind of treatment from any institution or organization in the accommodation space like how Beekman Group is treating its clients. Is the company only caring about itself and not for the benefit of its investor or shareholders or whatever they call us to suit their ego. I will not recommend to anyone to buy into this. No one cares how you feel and we all not in a good state due to Covid and companies and institutions my really stop using money from the desperate to grow their business. I am pained and frustrated as I have been beaten twice and the day I am completely out of this deal the better to forget about the bad experience I had and the money I worked hard for just going to waste just like that. I am drained and depressed