Legal & Compliance
Project Overview
PAYMENT SCHEDULE
1. Any advance payment made towards the Property on or before the Booking Date shall be treated as part payment of the Booking Amount and
this Booking Form shall become effective only upon receipt of the Booking Amount in full by the Seller. The Booking Amount (including any
advance payment) will be deemed to be received only upon realization, irrespective of any delay on the part of the Seller in cashing or depositing
any payments.
2. Post-dated cheque (in respect of all installments) to be issued and delivered by the Purchaser to the Seller on the Booking Date. In respect of
a non-resident Purchaser, such other form of payment as acceptable by the Seller, shall be provided by the Purchaser.
3. In the event that the construction milestone relating to any of the subsequent installments is not achieved by the associated completion
milestone Payment Date, the Seller shall not encash the associated post-dated cheque until such time as the respective milestone is achieved.
4. Completion Date means the date upon which the Property is completed substantially in accordance with the Property plans as confirmed
through certification by the consultant of the Project to the Seller that the Property is completed.
5. “Applicable Laws” means the laws, by-laws and implementing regulations applicable in the Emirate of Dubai including, but not limited to, laws
concerning the registration and ownership of freehold and jointly owned property or any other real property rights and legal interests in the
property, including but not limited to the laws, as may be amended from time to time, concerning: Regulating the Interim Property Register in
the Emirate of Dubai (Law No 13 of 2008), Ownership of Jointly Owned Real Property in the Emirate of Dubai (Law No 6 of 2019), Real Property
Registration in the Emirate of Dubai (Law No 7 of 2006), Federal Decree Law No. 8 of 2017 on Value Added Tax and matters concerning the
management, control, administration, maintenance, operation and repair of common property and common facilities in master communities
and/or in connection with the Property and/or this Booking Form, and shall include any relevant laws, decrees, regulations and/or directions from
any concerned authority that are enacted before or after the date of this Booking Form which supplement, replace or vary such laws, decrees,
regulations and/or directions.
Spacious
Layouts
Exquisite
Design
High-end
Materials
Affordable
Luxury
PURCHASER UNDERTAKING
- The first Purchaser and any additional Purchasers (if applicable) will hereinafter be referred to as the “Purchaser” collectively. Joint Purchasers
will be jointly and severally liable under the terms and conditions of this Booking Form. Where there is more than one Purchaser, any notice
properly served on the first Purchaser named in this Booking Form shall be deemed to have been properly served on all of the Purchasers. - The Purchaser acknowledges that he/she/it/they is/are aware that this is a new project which is in the process of being registered with the Dubai
Land Department (“DLD”). This Booking Form including its terms and conditions is intended to serve as a confirmation of interest by the
Purchaser to purchase the Property in accordance with the terms and conditions contained in the SPA (as defined below). - In the event that the construction milestone relating to any of the subsequent installment is not achieved by the associated completion milestone
Payment Date, the Seller shall not encash the associated post-dated cheque until such time as the respective milestone is achieved. - In the event any sum due to the Seller in respect of any amount payable pursuant to this Booking Form is not paid on the specified due date,
not with standing any other right of the Seller under this Booking Form, the purchaser undertakes that the Seller shall have the right to claim
compensation at the rate of two percent (2%) per month on the amount due and outstanding (“Delay Amount”), both before and after any
judgment, from the due date for payment to the date on which payment is made, as per-estimated liquidated damages, which the Purchaser
expressly agrees is a true and reasonable per- estimate of the damages that will be suffered by the Seller as a result of the Purchaser’s default.
The Delay Amount shall accrue on a daily basis and shall be compounded on the last day of each month. - • The Purchaser undertakes to provide all the documents specified in this Booking Form, to the satisfaction of the Seller and/or DLD.
- The Purchaser acknowledges that full terms and conditions relating to the sale and purchase of the Property shall be contained in a definitive
sale and purchase agreement to be issued by the Seller in its standard format (as may be amended from time to time), with related documents
as may be required pursuant to the Applicable Laws (collectively, the “SPA”) - The Seller shall provide the Purchaser with the SPA, after completing all formalities with the relevant authorities. The Purchaser undertakes to
return the duly signed SPA to the Seller within fourteen (14) days of delivery of the SPA to the Purchaser. Upon signed, the Purchaser
acknowledges that the SPA shall supersede this Booking Form and shall constitute the only contract between the parties in respect of the sale
and purchase of the Property. Until such time as the SPA is signed by the parties, this Booking Form shall constitute the binding agreement
between the parties in respect of the sale and purchase of the Property, and insofar as it is capable of being registered in the interim real estate
register of the DLD (“Interim Register”), this Booking Form may be registered in the Interim Register at the discretion of the Seller. - Until such time as the SPA has been duly signed by the parties, the Purchaser undertakes to make all payments required in accordance with
this Booking Form. - The Purchaser undertakes to comply with any directions and shall signed and proof the seller with any further documents and shall do all such
other things as the Seller or any relevant authorities including DLD, may reasonably require in order to effect the sale and purchase of the
Property in accordance with the terms of this Booking Form and/or the SPA. - In the event:
- • The Purchaser does not wish to proceed with the purchase of the Property; or
- The Purchaser does not pay the Booking Amount in full and/or fails to provide the complete documentation required pursuant to this Booking
Form to the satisfaction of the Seller and/or the DLD within fourteen (14) days from the Booking Date; or - The Purchaser does not deliver the signed SPA to the Seller within fourteen (14) days of the date of delivery of the SPA to the Purchaser; or
- Deposit of any installment payment into the Account is not realized within fourteen (14) days of the Seller’s notice in writing to the Purchaser
that such payment is due,`
- Deposit of any installment payment into the Account is not realized within fourteen (14) days of the Seller’s notice in writing to the Purchaser
14. Then the Seller, without waiving or prejudicing any of its rights under civil and criminal law, at its option, may cancel this Booking Form and sell
the Property to any third party purchaser, and the Seller, notwithstanding any provision in this Booking Form, shall be entitled to retain the
Booking Amount (including retaining any intermediate advances, if any, paid by the Purchaser) and any post-dated cheque for any installment
due under the Payment Schedule, up to the limit prescribed under the Applicable Laws as per-estimated liquidated damages (the
“Compensation”), which the Purchaser expressly agrees is a true and reasonable per- estimate of the damages that will be suffered by the Seller
as a result of the Purchaser’s default. The Purchaser undertakes to compensate the Seller to the extent that any amounts paid by the Purchaser
to the Seller up to the date of cancellation of this Booking Form are insufficient to cover the Compensation. Similarly, the Seller shall refund
excess amounts, if any, after deducting such Compensation, to the Purchaser. The Purchaser acknowledges that the Compensation shall be in
addition to the Delay Amount mentioned in Clauses 4 and shall become due and payable immediately by the Purchaser to the Seller upon the
occurrence of any default under this Clause and recoverable as a commercial debt. No notice is required to be given by the Seller and no court
order is required for such cancellation to be effective and the Compensation to be recovered. Any receipts issued by the Seller to the Purchaser
in relation to the Booking Amount or any of the installment shall immediately stand canceled and be of no legal force or effect.
16. The DLD transfer fee currently calculated at four percent (4%) of the property value when registering, as may be amended from time to time
pursuant to the Applicable Laws, for any subsequent sale of the Property by the Purchaser to a third-party purchaser (unless agreed otherwise
by the Purchaser with such third-party purchaser).
18. Notwithstanding any Applicable Laws, the Purchaser undertakes to be solely/jointly and severally (as the case may be) liable for and pay the
full Registration Fees, which may be varied from time to time.
20. The Purchaser acknowledges that this Booking Form is personal to the Purchaser and the Purchaser may not at any time assign or transfer this
Booking Form or any of his/its rights and obligations under this Booking Form to any third party without obtaining prior written consent of the
Seller (which consent shall not be unreasonably withheld) provided the Purchaser at the time of requesting such consent, has executed the
SPA, settled forty percent (40%) in addition to DLD registration fees and settled the next installment payment due pursuant to the Payment
Schedule. The Purchaser will also be required to pay an administrative fee of AED 5,000 (UAE Dirhams Five Thousand) to the Seller. If granted,
the Seller’s consent shall be given pursuant to a written assignment of the SPA in a form acceptable to the Seller (in its sole discretion), executed
by the parties and such third party
22. The Purchaser acknowledges that the Seller may, in its sole and absolute discretion, change the account for holding of the Booking Amount and
any other payment and transfer the funds contained therein to another bank or financial institution duly licensed in the UAE pursuant to the
Applicable Laws, and the Purchaser hereby unconditionally consents to any such transfer and no further consent from the Purchaser shall be
required.
15. The Purchaser undertakes to pay, when requested by the Seller all costs, fees and charges including:
17. And any other costs, fees, charges and (penalties, if any, due to the Purchaser’s default) that may be l envied by the DLD, the Dubai Real Estate
Regulatory Agency and any other authorities in Dubai in respect of or incidental to the per-registration, registration, transfer or other dealings
with regards to the Property.
19. The Purchaser acknowledges that the DLD may impose a penalty (currently set at four percent (4%) of the Purchase Price) (with the effect of
doubling the Registration Fees) in case of the Purchaser’s failure to pay the applicable Registration Fees and provide all his/its documents
required to be filed with the DLD (including but not limited to identification documents of the Purchaser) within sixty (60) days from the date of
the Seller’s request. In order to ensure such penalties are not imposed, the Purchaser undertakes to provide to the Seller all applicable
Registration Fees and required documents within the time limit stipulated in this Booking Form. If the Seller does not receive all such
Registration Fees in full and all such documents in form and substance satisfactory to the DLD within the said time limit from the Purchaser,
then the Purchaser agrees that he/it is liable to pay upon demand any such penalty as may be imposed by the DLD. Further, the Seller reserves
the right to set off any sum towards such Registration Fees (including the penalty, if any) and all other ancillary and incidental expenses, for
registration of the Property in the name of the Purchaser in the Interim Register, from the amounts paid by the Purchaser and lying in the account
and the Purchaser shall not make any claim whatsoever against the Seller in this regard. The Purchaser also undertakes to provide to the Seller
on demand any information or documents in form and substance satisfactory to the DLD to effect any registration/cancellation. The Purchaser
hereby agrees to indemnify and hold harmless the Sell er against all costs, expenses, losses and other liabilities of any description, including
without limitation any actions taken by any authorities, that may be suffered or incurred by the Seller as a result of the Purchaser’s default in this
Clause 11, without any limitation in time.
21. The Purchaser acknowledges that the Seller may assign this Booking Form in favor of any affiliate or other company by serving written notice
of assignment to the Purchaser. The Purchaser hereby consents to any such assignment and/or any change of shareholding in the Seller and/or
its parent company in accordance with Applicable Law, and no further consent from the Purchaser shall be required, except to the extent
required by the Applicable Laws.
23. The Purchaser confirms and undertakes that the Purchase Price and all other amounts payable pursuant to this Booking Form, are derived from
legitimate sources and are not related to proceeds of crime or money laundering either directly or in directly or through illegal means of any
nature. The Purchaser further undertakes that he/it shall strictly comply with the requirements of the Foreign Account Tax Compliance Act
(if applicable) in respect of payment of the Purchase Price and all other amounts payable pursuant to this Booking Form. The Purchaser hereby
agrees to indemnify and hold harmless the Seller against all costs, expenses, losses and other liabilities, including without limitation any actions
taken by any authorities, that may be suffered or incurred by the Seller as a result of the Purchaser’s undertaking as mentioned above, without
any limitation in time.
26. For non-residential property, the Purchaser is aware that the Property shall be delivered on a “Shell and Core” basis only and that the Purchaser
or his/its tenants, authorized users shall obtain all required approvals and licenses from the relevant authorities as applicable to the Permitted
Use and shall bear all costs and expenses as may be required in order to prepare and use the Property for the Permitted Use. The Purchaser
undertakes to bear all costs, expenses, levies, taxes including value added tax on the Purchase Price and any other amount payable pursuant
to this Boo king Form in accordance with the Applicable Laws.
24. The Purchaser acknowledges that the saleable area of the Property as stated in the Particulars, being sold and registered at the DLD shall be
the net area of the Property, as confirmed by DLD, in accordance with Applicable Laws.
27. The Purchaser undertakes that this Booking Form is legally binding on the Purchaser and is in no way subject to or dependent upon the
Purchaser’s ability to secure a mortgage loan or finance from a bank or any third party.
30. This Booking Form shall supersede all previous verbal or written negotiations, agreements and documents (including any Expression of Interest)
entered into between the parties, until execution of the SPA.
29. The Purchaser acknowledges that execution of the Booking Form does not grant the Purchaser any priority interest or other rights in the
Property and this Booking Form may be canceled by the Seller at any time prior to the signing of the SPA by the Seller, provided that any
amounts paid by the Purchaser, towards the Purchase Price, prior to the date of such cancellation shall be refunded to the Purchaser without
interest. The Purchaser undertakes that he/it/they shall have no claim or action against the Seller for compensation in relation to any such
cancellation of the Booking Form.
25. The Purchaser acknowledges that the Property Details (as set out in the Particulars) as well as the designs, drawings, plans and layout of the
Property are subject to change by the Seller at any time prior to the Purchaser delivering the executed SPA to the Seller. Should there be a
variation in the saleable area of the Property from the saleable area stated in this Booking Form, the Purchase Price shall be recalculated in
accordance with the Applicable Laws and/or the approval of the relevant authorities. If the actual area after the completion of the project is less
than the scalable area by 5% or less, then the Purchaser shall have no right to claim a reduction of the Purchase Price neither a compensation.28. Any change, addition, or deletion of a joint purchaser, shall be subject to prior written approval of the Seller and will be subject to the payment
of the prevailing administrative fees and signing of any such documents as may be required by the Seller and/or the DLD.
28. Any notice or demand of any nature which either party to this Booking Form may serve upon the other party, shall be in writing addressed to the
other party and if sent by the Seller addressed to the first Purchaser only and shall be served by delivering it to the address, email address or
fax number as set out on in Part A – Particulars of this Booking Form or to such other address, email address or fax number as may be notified
in writing by either party32. This Booking Form shall supersede all previous verbal or written negotiations, agreements and documents (including any Expression of Interest)
entered into between the parties, until execution of the SPA.
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Payment Plan
70%
During Construction
30%
01 year post handover
Our PRIME PLACEMEN
The Roof Residence nestled in the heart of Nad Al Sheba 1, where we make sure that luxury and convenience live side by side. Our prime
location offers easy access to amenities, parks, and renowned schools. Enjoy breathtaking views from your rooftop terrace, surrounded
by lush greenery. Experience a luxury lifestyle, at a top-notch area at The Roof Residence.
Location Map
Meydan Race Course
5Min
Burj Khalifa
13Min
Dubai Marina
21Min
Dubai Airport
19Min
Palm Jumeirah
19Min
