Frequently Asked Questions - Residential
1) What is The Signet?
The Signet is the latest development from Schön Properties, one of the region’s leading developers, which is one of the first residential buildings for home office usage. This allows home owners to live and work from their apartment without expensive office rental charges or lengthy daily commutes, and with the ability to use their work and leisure time more efficiently.
2) Where is The Signet located?
The location of The Signet reflects its position at the centre of Jebel Ali downtown. It is located in Zone 3 of Downtown Jebel Ali on main Sheikh Zayed Road, near the Jebel Ali Palm, the Jebel Ali Freezone and the upcoming Maktoum International Airport, and is ideally placed for both Abu Dhabi and Dubai. With walking distance of the Dubai Metro Station, providing convenient and quick access to the rest of the city. The Signet offers an ideal location, both as a home from which a business can operate and as a place to live.
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?
Schon Properties have always been at the forefront of developments within the property market, spotting opportunities to diversify our portfolio to meet investor needs with innovative projects. Dubai Lagoon offers home owners the opportunity to enjoy high quality affordable homes within a self contained community housing retail outlets and leisure facilities, all set around a manmade lagoon. With in Dubai lagoon, our Presidential and Quartet developments cater for premium and budget housing respectively.
Close by, Schon Business Park offers highly adaptable office units that meet a wide range of business needs. In Downtown Jebel Ali, Schon Residences provides the cachet of a highly desireable Sheikh Zayed Road address, while Schon Suites offers long-term investors the opportunity to enjoy high returns by owing hotel apartments. Our latest development, The Signet, offers homeowners the facility to work from home: an ideal solution that reduces overheads for small businesses.
5) Who is the Architect?
Mimar is the architect for The Signet 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.
6) What Facilities does the Signet provide?
The apartments atThe Signet have been designed to the highest standards, to create the ideal environment to live and work. The facilities include covered resident parking, swimming pool, health club, gym, 24 hours security, smart home features, grand reception area, business center and ample visitor parking.
7) Is Parking Available?
Yes, and parking spaces are priced at AED 50,000 separately. But there will also be free open parking for visitors.
8) Is The Signet Leasehold or freehold?
Freehold.
9) Is The Signet registered at the Land department?
Yes, The Signet is registered at the Land department and the registration number is 743/2007.
10) 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
11) When is anticipated completion for The Signet?
Last Quarter of 2010.
12) What is the estimated timeline for Progress of the Project?
|
Project Sales Launch
|
June 2008
|
|
Detailed design, contractor procurement and authority approvals
|
July 2008 – September 2008
|
|
Current anticipated Plot hand over from Master Developer
|
April 2009
|
|
Commencement of the Enabling Works Contractor on site
|
December 2008 – April 2009
|
|
Construction period: Enabling works and main works
|
March 2009 – November 2010
|
|
Project anticipated handover
|
Last Quarter of 2010
|
13) What types of units are available at The Signet?
It is made up of studios, 1-bed and 2-bed apartments, home offices, town houses and retails.
14) What is the payment plan?
|
On Booking
|
15%
|
|
01-Dec-08
|
10%
|
|
01-Jun-09
|
15%
|
|
01-Dec-09
|
15%
|
|
01-Apr-10
|
15%
|
|
01-Jul-10
|
15%
|
|
Upon Completion
|
15%
|
15) Can I Sell My Property To A Third Party?
Yes, but all transfers will have to go to the Land department and are subject to a transfer fee.
Prevailing transfer fee is subject to the Land department transfer fee charges. An administration fee needs to be paid to the developer for every transfer after the payment of initial 15% 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
16) What will the maintenance charges be?
Fees have not been set but will be in line with the market. We will strive to ensure that the value for money proposition afforded by the apartments is not diluted by high maintenance fees.
17) Where can I make my payments?
1. At the Finance Affairs Office, located on Sheik Zayed Road, Al 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:
|
Account Name
|
Luxor Investment Limited
|
Escrow Account Number
|
4498001536
|
|
Swift Code
|
BOMLAEAD
|
Bank Name
|
Mashreq Bank (Badr Al Islami)
|
|
Bank Branch
|
Islamic Bank Division
|
Bank Address
|
Riqqa St., Dubai, UAE
|
18) 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 6-8 weeks from the date of request and also upon completing the full payment of 15%.
19) How do I get in touch with Sales Administration of Schon Properties?
They can be contacted on 800 SCHON (72466). If you are dialing from overseas, please contact them on +9714-3434044.
Frequently Asked Questions - Commercial
1) What is The Signet?
The Signet is the latest development from Schön Properties, one of the region’s leading developers, which is one of the first residential buildings for home office usage. This allows home owners to live and work from their apartment without expensive office rental charges or lengthy daily commutes, and with the ability to use their work and leisure time more efficiently.
2) Where is The Signet located?
The location of The Signet reflects its position at the centre of Jebel Ali downtown. It is located in Zone 3 of Downtown Jebel Ali on main Sheikh Zayed Road, near the Jebel Ali Palm, the Jebel Ali Freezone and the upcoming Maktoum International Airport, and is ideally placed for both Abu Dhabi and Dubai. The Signet is within walking distance of the Dubai Metro Station, providing convenient and quick access to the rest of the city. The Signet offers an ideal location, both as a home from which a business can operate and as a place to live.
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?
Schon Properties have always been at the forefront of developments within the property market, spotting opportunities to diversify our portfolio to meet investor needs with innovative projects. Dubai Lagoon offers home owners the opportunity to enjoy high quality affordable homes within a self contained community housing retail outlets and leisure facilities, all set around a manmade lagoon. With in Dubai lagoon, our Presidential and Quartet developments cater for premium and budget housing respectively.
Close by, Schon Business Park offers highly adaptable office units that meet a wide range of business needs. In Downtown Jebel Ali, Schon Residences provides the cachet of a highly desirable Sheikh Zayed Road address, while Schon Suites offers long-term investors the opportunity to enjoy high returns by owing hotel apartments. Our latest development, The Signet, offers homeowners the facility to work from home: an ideal solution that reduces overheads for small businesses.
5) Who is the Architect?
Mimar is the architect for The Signet 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.
6) What Facilities does the Signet provide?
The apartments atThe Signet have been designed to the highest standards, to create the ideal environment to live and work. The facilities include covered resident parking, swimming pool, health club, gym, 24 hours security, smart home features, grand reception area and ample visitor parking.
7) Is Parking Available?
Town Houses – Yes, 1 free parking is included in the purchase of a unit and any additional parking can be purchased at the price of AED 50,000 per space
Home Offices - Yes and parking spaces are priced at AED 50,000 separately. But there will also be free open parking for visitors.
8) Is The Signet Leasehold or freehold?
Freehold.
9) Is The Signet registered at the Land department?
Yes, The Signet is registered at the Land department and the registration number is 743/2007.
10) 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
11) When is anticipated completion for The Signet?
Last quarter of 2010.
12) What is the estimated timeline for Progress of the Project?
|
Project Sales Launch
|
June 2008
|
|
Detailed design, contractor procurement and authority approvals
|
July 2008 – September 2008
|
|
Current anticipated Plot hand over from Master Developer
|
April 2009
|
|
Commencement of the Enabling Works Contractor on site
|
December 2008 – April 2009
|
|
Construction period: Enabling works and main works
|
March 2009 – November 2010
|
|
Project anticipated handover
|
Last quarter of 2010
|
13) What types of units are available at The Signet?
It is made up of studios, 1-bed and 2-bed apartments, home offices, town houses and retails.
14) What are home offices in The Signet?
Home offices in The Signet are residential offices whereby home owners have the advantage to live and work from their apartment without expensive office rental charges or lengthy daily commutes, and with the ability to use their work and leisure time more efficiently.
15) What are Town Houses in The Signet?
Town Houses in The Signet are triplex residential town houses joined by common side walls.
16) What is the payment plan?
|
On Booking
|
15%
|
|
01-Dec-08
|
10%
|
|
01-Jun-09
|
15%
|
|
01-Dec-09
|
15%
|
|
01-Apr-10
|
15%
|
|
01-Jul-10
|
15%
|
|
Upon Completion
|
15%
|
17) Can I Sell My Property To A Third Party?
Yes, but all transfers will have to go to the Land department and are subject to a transfer fee.
Prevailing transfer fee is subject to the Land department transfer fee charges. An administration fee needs to be paid to the developer for every transfer after the payment of initial 15% on any of the stages mentioned below:
c) Reservation stage: 0.5% of the original purchase price
d) Contracts stage:
3. 4 Units or less: 2% of the original purchase price
4. 5 units and above: 1% of the original purchase price
18) What will the maintenance charges be?
Fees have not been set but will be in line with the market. We will strive to ensure that the value for money proposition afforded by the apartments is not diluted by high maintenance fees.
19) Where can I make my payments?
4. At the Finance Affairs Office, located on Sheik Zayed Road, Al Saeed Tower 2, 35th Floor;
5. Or at our Sales Office located at the Mezzanine Floor , Al Murooj Rotana Complex;
6. Or you can make a bank to bank transfer to the Escrow account details as follows:
|
Account Name
|
Luxor Investment Limited
|
Escrow Account Number
|
4498001536
|
|
Swift Code
|
BOMLAEAD
|
Bank Name
|
Mashreq Bank (Badr Al Islami)
|
|
Bank Branch
|
Islamic Bank Division
|
Bank Address
|
Riqqa St., Dubai, UAE
|
20) 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 6-8 weeks from the date of request and also upon completing the full payment of 15%.
21) How do I get in touch with Sales Administration of Schon Properties?
They can be contacted on 800 SCHON (72466). If you are dialing from overseas, please contact them on +9714-3434044.