1) What is Schön Suites?
Schön Suites is the first hotel apartment development from Schön Properties (one of the region’s leading developers), which exhibits stunningly-designed Standard, stylish and modern Executive and Deluxe hotel apartments in the heart of NewDubai.
2) Where is Schön Suites located?
The location of Schön Suites reflects its position at the centre of Jebel Ali downtown. It is located on main Sheikh Zayed Road in the heart of new Dubai, near Maktoum International Airport and the Palm Jebel Ali, and ideally placed for Abu Dhabi and Dubai.
3) Where is Downtown Jebel Ali?
Downtown Jebel Ali is Dubai’s newest and most exciting business location, one of the largest development projects in Dubai, with a projected built up area of 70 million sq. ft. and an estimated value of around USD 12 billion. Stretching for an awesome 11 kilometres beside Sheikh Zayed Road, located between the Jebel Ali Free Zone and Techno Park, and covering over 200 hectares, Downtown Jebel Ali is a stunning self-sustaining community with all the facilities required for fine residential and business living. At the same time, its proximity to Dubai, via Sheikh Zayed Road and the metro, make it easily accessible to many other parts of the city. It will have 326 buildings, 237 of which will be part or fully residential.
4) Who is Schön Properties?
Schön Properties was set up to meet the needs and requirements of the premium real estate sector. The force behind the Dubai Lagoon, Schön Business Park and Schön Residences developments, the company seeks to provide quality properties at affordable prices, backed by a commitment to quality and customer satisfaction.
5) What Facilities do the apartments enjoy?
The Hotel apartments will enjoy a full range of facilities, including:
· Restaurant and café
· Tennis court
· Gym
· Pool deck
· Business Center
· Sauna
· En suite bathrooms
· Wi-Fi
· Satellite TV
· 24-hour security
· Multi-purpose hall
· Children’s play area
· Kitchenette area
6) Who is the Architect?
Mimar is the architect for Schön Suites and is a leading professional design practise providing consultancy services in the core disciplines of Architecture, Structure, and M.E.P. With Offices located in Dubai, Sharjah, Abu Dhabi, Ajman, and Doha, Mimar's dynamic team is known for and delivers innovative design solutions with effective and efficient project coordination.
7) Is Schön Suites Leasehold or freehold?
Freehold.
8) Is Schön Suites registered at the Land department?
Yes, Schön Suites is registered at the Land department and the registration number is 2007/507.
9) When is the anticipated completion for Schön Suites?
December 2010.
10) What is the estimated timeline for Progress of the Project?
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Project Sales Launch
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May 2008
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Detailed design, contractor procurement and authority approvals
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May 2008 to January 2009
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Current anticipated Plot hand over from Master Developer
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January 2009
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Commencement of the Enabling Works Contractor on site
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February 2009
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Construction period: Enabling works and main works
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February 2009 to December 2010
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Project anticipated handover
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December 2010
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11) What type of hotel apartments are available at Schön Suites ?
It is made up of Standard, Executive and Deluxe apartments
12) What is the payment plan?
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On Booking
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15%
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October 2008
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15%
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April 2009
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15%
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October 2009
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15%
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April 2010
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15%
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Upon Completion
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25%
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13) How does the Rental of my unit work?
The unit will be owned by you and you will be obliged to participate in the Units Rental Pool to be operated by a Manager whereby the Unit shall be placed into a rental pool to be made available for renting out to third parties under the management and co-ordination of the Manager. The Manager will be authorised to demand, receive and receipt Total Revenue for the occupancy of the unit.
14) How do I obtain the Profit from my unit?
At the end of every fiscal year a transparent Audit will be carried out and an audit report called “the audited unit profit report” in electronic format will be sent to you via email. The audited unit profit report shall provide details of Total Revenue received by the Manager for the preceding fiscal year in relation to your Unit and after all deductions towards Maintenance, Insurance and Assessment it shall specify your Share of Unit Profit (proportionate to the size of your unit).
15) What will be the percentage of my profit share for my unit?
Your Unit Profit share shall be 60%
16) How & when do I get my profit share from the Manager?
All payments to you shall be by way of bank transfer to your bank account (as details provided by you). The disbursement of profit will be not later than 3 months from the publishing of the audited Profit report.
17) Do I get to stay in my unit?
Yes. The free stay will be as per “Points” that will be given to you for your stay in your type of unit.
18) How many points do I get for my unit?
You will be entitled to get 22 Points in each calendar year, for your free stay in the unit. These points which are granted to you will need to be utilised in each calendar year by you/ Family/ Friends and will decrease upon usage. NO points can be carried over to the next year. All unused points will be forfeited.
19) What will be the period for my free stay in the unit?
The period of use of your unit will depend upon the season of stay. If the unit is required during High Season then for every night of stay 2 Points will be deducted from your Points Entitlement which will be 11 nights per calendar year. If the stay is during the Low season then for every night of stay 1 Point will be deducted from your Points Entitlement which will be 22 nights per calendar year.
20) How much in advance do I need to book my unit?
A minimum of 90 days in advance will be required for reservation.
21) What will be the terms for No-Show after booking the unit?
Any booking made and confirmed by the Manager will automatically deduct points from your Points Entitlement, whether or not you actually occupy the unit, unless provided the unit booking is cancelled in compliance with the Manager’s cancellation policy.
22) Do I get to stay in the same unit that is owned by me?
No, the unit will be of the same type as per your purchase and it will be at the sole discretion of the Manager and based on availability.
23) Does my unit come furnished?
Yes, it comes with Furniture, Fixtures & Equipment. This FF&E will be as per the design of the Manager and you will have no input with regard to quality, design or otherwise. The FF&E will at all times remain your property for the duration of the agreement.
24) Can I remove or add furniture/equipment to my unit?
No, you will not be able to take possession, remove or add furniture/equipment.
25) Is the unit, Furniture, Fixtures & Equipment Insured?
The Manager shall insure or shall procure the insurance of all Units and FF&E under declaration that you acknowledge that you shall have no entitlement to any proceeds of such insurance during the term of this Agreement.
26) Do I get a Visa?
Yes. The Issuance of Residence Visa will be subject to satisfying the requirements of the UAE Ministry of Interior Department of Residency and Naturalization.
27) Can I Sell My Property To A Third Party?
Yes, Should you wish to sell your Unit to a third party buyer, such sale shall be conducted through the Developer in accordance with the Sale and Purchase Agreement subject to an admin fee payable to the Developer and any fee imposed by the Master Developer. The resale of your unit will be possible only upon payment of a minimum of 15% of sale price.
28) What is the Admin fee payable to the Developer for transfer of units?
An administration fee needs to be paid to the developer for every transfer on any of the stages mentioned below:
a) Reservation stage: 0.5% of the original purchase price
b) Contracts stage:
1. 4 Units or less: 2% of the original purchase price
2. 5 units and above: 1% of the original purchase price
29) Can I register my units at the Land department?
Yes you can register, but only upon 100% payment. The buyer shall bear and pay all cost and contingent expenses pertaining to registration of title transfer of the property to the name of the purchaser or buyer in the Land department
30) What are the transfer fees to be paid to the Land Department?
Prevailing transfer fee is subject to the Land department transfer fee charges.
31) Do I need to pay any Maintenance, service, Assessment or Insurance fee for my unit?
No. All fees and charges would be deducted by the Manager from the total revenue (according to the size of your unit) before the Profit is calculated and disbursed.
32) What will be the tenure for my Rental Pool Agreement and will it be renewable?
The rental arrangement tenure is ten years guaranteed starting from date of completion and subject to review at the end of such period.
33) Where can I make my payments?
1) At the Finance office, located on Sheik Zayed Road, Saeed Tower 2, 35th Floor;
2) Or at our Sales Office located at the Mezzanine Floor , Al Murooj Rotana Complex;
3) Or you can make a bank to bank transfer to the Escrow account details as follows:
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Account Name
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YRA Enterprises Limited
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Escrow Account No.
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4498000508
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Swift Code
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BOMLAEAD
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Bank Name
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Badr Al Islami
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Bank Branch
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Airport Road, Dubai, U.A.E.
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Bank Address
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Dubai, UAE
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34) How do I get my Ownership Agreement?
Upon 15% payment, the ownership agreement can be released, but will be on a request basis to the Sales Administration Department of Schon Properties. Turn-around time for releasing of contracts is 4-5 weeks from the date of request and also upon completing the full payment of 15%.
35) How do I get in touch with Sales Admin of Schon Properties?
They can be contacted on 800 SCHON (72466). If you are dialing from overseas, please contact them on +9714-3219501.