1. Where is Reflection located?
Reflection is located within Aldar’s master planned community on Reem Island.
2. What unit type lay-outs are available?
Reflection consists of studios (avg 43sqm), one bedroom (avg 65 sqm), two bedroom (avg 100 sqm), three bedroom (avg 138 sqm) apartments.
3. Can any nationality purchase property there?
Yes.
4. What are the payment terms?
There will be 2 options: 30/70 & 50/50 (2% discount) payment plans. Down payment will be 5% of the unit price.
5. What is the handover date?
We are targeting handover during Q2 2021.
6. Has the project broken ground/what stage is it at?
No. Currently the project is in sales launch phase and we expect to have the early works contractor appointed and mobilized during Q3 2018.
7. What are the service charges?
AED13.5 per square foot.
8. What are the amenities?
Each tower at Reflection will include outdoor seating/ entertainment areas, yoga/ exercise deck, outdoor reading/ lounge area, a gymnasium, infinity swimming pool, multi purpose room, outdoor fitness area, and ground floor park facing retail.
9. Is there district cooling?
Yes there is.
10. Can I buy via my agent?
Yes you can, subject to the agent being in possession of all relevant documentation that enables him or her to purchase real estate on your behalf.
11. What additional purchase fees are there?
2% ADM fees at time of purchase.
12. What are the late payment fees?
13. What are the transfer costs?
To transfer a unit from one party to another, the owner must first have a 30% equity position in the unit. Customers will be required to pay a transfer fee of AED5,250 to Aldar and 2% of the SPA sales value to ADM. This is because once the SPA is registered with ADM, no changes are permitted without re-registering the unit with ADM.
14. Can I transfer to my wife/brother/mother etc? If so, what’s the cost?
Next of kin transfers are allowed and are subject to an admin fee of AED 3150, payable to Aldar in addition to 2% of the SPA sales value to ADM.
15. Can I add or delete the names from my Sale Agreement?
Yes, as long as all parties are in agreement and subject to an admin fee of AED 3150, payable to Aldar in addition to 2% of the SPA sales value to ADM.
16. When can I sell the property?
Once you have achieved a 30% equity position in the unit, then you are able to sell your property.
17. When the property is ready can I rent via my agent or am I obliged to use Aldar/Khidmah?
You will be free to rent using your agent.
18. Can I obtain financing?
Subject to meeting the requirements of your preferred lender, then you will be able to secure financing on your unit.
19. When will my cheque be cashed?
Your cheques will be cashed and deposited into an ESCROW account subject to the payment plan which is based on the project reaching certain milestones which will be set out in your SPA with Aldar.
20. Are modifications on the property allowed?
Not during construction, but following handover, any internal modifications will be subject to the rules of the community.
21. Can we receive a sales agreement in Arabic?
Yes you can.
22. What happens if I lose my Sale Agreement?
In the event of losing your agreement, Aldar will provide a certified copy, subject to a fee of AED1,050.
23. Is there a cool-off period?
No.