FAQ's

Friday, November 21, 2008

What Is Dubai Lagoon?: Dubai Lagoon is set in charming, tranquil, and luxurious surroundings. The development is on 1.75 million ft² of land and has 40 low rise buildings consisting of studios, 1 & 2 bedroom and 3 & 4 bedroom penthouse apartments split between two phases. Seventy five percent of the land is dedicated to landscaping, water, community facilities, and roads with a lagoon, waterfalls and fountains and pools serving as the main features. Additional facilities like a state of the art gym that has a purpose built exercise studio, sauna, Jacuzzi, steam room and tennis courts, plus an exclusive tenant’s health club facility will be available in the community.

The commercial center consists of a mosque, supermarket, laundry and many other facilities providing a comfortable & appealing environment to residents. Its close proximity to Dubai Land, upcoming golf courses, a school, and two five star hotels will position this development in the heart of new Dubai.

Where Is Dubai Lagoon?: Dubai Lagoon is situated in Dubai Investments Park near "The Green Community" with easy access to Sheikh Zayed Road and the new Emirates Road. Dubai Investments Park (DIP) is a modern, environmentally friendly mixed-use residential, recreational, business, and industrial development located in Dubai, UAE.

DIP is 3,200 hectares in size and is located in close proximity to all the major attractions of Dubai. It is approximately 3.5 km in width and 9.7 km in length. DIP is being developed, managed, and operated by the Dubai Investments Park Development Company LLC., a wholly owned subsidiary of Dubai Investments, a joint public stock holding company with a subscribed capital base of US$ 350 million.

Who Are The Developers?: Town Centre Management Ltd., a Dubai based property development, management and leasing company who are sponsored by His Excellency Nasser Abdulla Hussain Lootah, the chairman of NASA Group. The NASA Group has been established for over 25 years and has diverse business activities and is a well respected and successful conglomerate in the region. The project is being promoted under the Schon Properties umbrella.

Who Are The Architects?: Dubai Lagoon is designed and master planned by Artec, one of the leading architectural firms in the region who offer services in architecture, urban design, and environmental planning.

Who Are The Contractors?: The cut and fill work was conducted by Bhageri Road Contracting. The main contractor appointed for Dubai Lagoon is a joint venture between Gulf Stream Contracting and UNIMA, a subsidiary for Power Line Engineering Group. They will be responsible for the entire project which will include the construction of the structure, internal roads, landscaping, lagoon formations and MEP. Currie and Brown are the official project managers and quantity surveyors for the project.

Specifics About Dubai Lagoon?

What Are The Facilities?

District cooling and state of the art air conditioning
Health club including sauna, steam room & Jacuzzi
Restaurants & cafes
Large landscaped areas
24 hour security
Mosque
Laundry
Supermarket
Swimming pools
Tennis courts
Ample parking – indoor & outdoor

What is a Reservation Form?: A Reservation Form is a binding contract between the Purchaser and Seller in relation to the purchase and sale of the property specified. Except as specified in the Reservation Form, the Reservation Form is irrevocable and the payments due are non-refundable. All payments made by the Purchaser under the Reservation Form must be in accordance with the Payment Schedule.

Is Parking Available?: Yes, parking is available under every building. Additional above ground parking is also available for visitors. Parking spaces are priced at AED 50,000. The parking spaces are an optional extra.

What Are The Service Charges?: The service charge is AED 10 per square foot for the first 2 years, guaranteed.

Can The Property Be Registered In A Company Name Or In Joint Names?: Yes. All apartments are ownership sub-leasehold title. All clients are eligible for family residence visa, subject to UAE immigration rules and regulations. The process is initiated once the owner becomes a resident of Dubai Investments Park and post registration of their ownership agreements.

How can I get my ownership agreement?

The ownership agreement can be signed after 15% is received. Ownership agreement should be requested from the Administration Department of Schon Properties. In addition to this, there are DIP registration fees to be paid upon signing the Ownership Agreement, if you wish to register your property with DIP. These charges are outlined in the ownership agreement and hereunder in Full execution of Ownership Agreement and DIP registration will only take place once full payment and clearance of the DIP registration fees are completed. The charges are as follows:

Studio & 1Bedroom: AED 1000
2 Bedrooms: AED 2000
3 & 4 Bedrooms: AED 3000

A draft copy of the ownership agreement is also available for review upon request.

Can I Sell My Property To A Third Party?: Yes, you can sell to a third party upon payment of 15%.

New Purchaser will incur a transfer fee of 2% of the original price payable to the Developer for any transfer. All transfers must be declared to the Schon Properties administration office. A transfer document must be fully completed. The completion and registration of the transfer document is the responsibility of the Seller. The Seller will continue to be liable for ongoing payments in the absence of advice via this document.

What Is The Payment Schedule?: PHASE TWO
15% Initial deposit of purchase price on signing the reservation form
10% of purchase price payable by February 2008
15% of purchase price payable by May 2008
10% of purchase price payable by August 2008
15% of purchase price payable by November 2008
10% of purchase price payable by February 2009
10% of purchase price payable by May 2009
15% of purchase price payable by August 2009

How do I get in touch with Administration of Schon Properties?: They can be contacted on 800 SCHON (72466) and ask to be connected to Sales Administration Department. If you are dialing from overseas, please contact them on +9714-3219501.

My SCHÖN

FAQ's

What Is Dubai Lagoon?

Where Is Dubai Lagoon?

Who Are The Developers?

Who Are The Architects?

Who Are The Contractors?

Specifics About Dubai Lagoon?

What is a Reservation Form?

Is Parking Available?

What Are The Service Charges?

Can The Property Be Registered In A Company Name Or In Joint Names?

How can I get my ownership agreement?

Can I Sell My Property To A Third Party?

What Is The Payment Schedule?

How do I get in touch with Administration of Schon Properties?