When does Resort construction begin? January 2008.
And when will it be completed? The scheduled completion date of AZUREPOINT Suites is 1st March 2009, however that is subject to local conditions.
Who is the operator? AZURE Property Management Services.
What facilities/ services will be available/ included? Refer to the Fact Sheet.
Is there any chance that the price will increase during the construction period? No. Once you have signed the contract and paid the deposit, the price is fixed.
Will I own a specific unit or a share of the development? You will own a specific unit for which you will receive legal documentation of ownership under the laws of Indonesia.
What quality of building materials and construction is proposed? The project concept is to create the best possible level of quality with material specifications that will provide a high level of guest satisfactions. Refer to the specification document.
Can we make changes to the Suite? No. AZUREPOINT Suites is sold as a hotel operation where all rooms must be standardised.
Will the Suites be supplied furnished? Yes, the furniture and fittings are included in the purchase price.
What if there is a tsunami or earthquake in Indonesia, what will happen to my property? In the unlikely circumstance that a tsunami hits eastern Bali, the hotel is located about 30 meters above sea level and the Suites from 40 meters above sea level.
What hotel services/facilities can I use as an owner? All owners will enjoy a substantial discount while staying in the resort.
Does the purchaser have to come to Bali to complete the purchase of this Resort? No, this can be done from the owners’ location overseas (Using emails, fax and courier for documentation exchange).
What safety features are provided? Sprinklers in the main areas, fire alarms and smoke detectors will be fitted throughout the complex, and each Suite will have fire extinguishers. Hydrants will be installed.
What level of security is provided? There will be very high level security on the premises, 24 hours x 7 days, with a trained and experienced team of security officers. All visitors will be asked to register at reception before entering the Resort.
What car parking facilities are provided? There will be limited parking allocated for residents and visitors. Cars are not permitted to enter the resort.
What is the weather like? The climate is tropical with a temperature range of 28 -32 degrees Celsius day and night.
Are there commissions that are paid to other individuals that I should know about? The price quoted to you by AZUREPOINT Suites is the full and final price. You pay no commissions to any brokers or dealers.
Can I buy the product cheaper elsewhere? No. All sales are channelled through PT. Panorama Dua, but you do not have to sell through them when reselling.
Distances – How far to airport and town? To the nearest town, Semarapura, Klungkung – 15 minutes. To Ngurah Rai airport – about 1.5 hours. To Denpasar, Sanur, Kuta and major shopping centres – 1hour/1,5 hours. To Ubud – 1 hour. To Bedugul golf course – 1.5 hours.
LEGAL
What is the land ownership status? Ownership of AZUREPOINT residential Suites is to be as secure and as simple as possible to eliminate risk or confusion. Suites will be owned for a 40 year term in the form of a fully secure lease with land title deeds being owned by PT. Panorama Dua managing company. Buildings and site improvements will be fully owned by the suite owner. The lease acts as a lien over the title.
What are the legal fees on purchase? The company has engaged the services of Kantor Kita to facilitate your legal requirements. The legal fees are included in the purchase price, unless the purchaser engages their own advisors.
Can I sell the property to somebody else? You can sell the lease at anytime.
Can I rent the property to somebody else? Rental of the property can only be through the management company which will act as a letting service. The management company will provide all advertising and promotion and enter into agreements with travel agents and tourist agencies. The rental will be conducted on the basis of a 65% / 35% split between the owner and the letting service. The R.O.I. (Return On Investment) is expected to be 5% in the first year and increasing as the hotel matures.
Can I buy as a legal entity rather than as an individual? Yes. Purchases can be made by corporations, partnerships, and any legal entity, subject to Indonesian laws.
What taxes are payable? You don’t have to pay sales tax. Property taxes are payable annually and you will be billed every year. The annual property taxes for the areas are approximately USD 200. Local income taxes are only applicable if you are working in Indonesia.
What is the payment structure? Refer to the Sales and Purchase Agreement.
What insurance is provided by the vendor? The common facilities and services are fully insured, including third party liability and accident insurance for registered workers that work in the Resort. The individual Suite including interior furnishings and fittings are not covered and may be insured by the Suite owners.
Is there a guaranteed yield for the properties? We fully expect for the five years period that the R.O.I. to balance out at around eight (8) percent. Additionally the suites will appreciate in value and provide capital gains for those owners who decide to sell on.
Is the complex, the manager and the hotel operator subject to an annual audit? Yes, it is.
MANAGEMENT / SERVICES & MAINTENANCE
Will somebody manage our Resort? Yes, your Resort is fully serviced and managed by AZURE Property Management Services. Please refer to Management Agreement and Fact Sheet.
What is the cost of Maintenance Fee? No maintenance fee will be charged.
Will I have to pay more if I use my Suite more than others? Will be charged 35% of the average rate of your suite category.
Does the maintenance charge include a sinking fund to cover major maintenance and repairs? Yes, USD 2/m² per month is put aside to cover major maintenance or repair costs. The Management Company holds those funds and will report regularly to the owners on any expenditure.
Do I get a regular accounting for maintenance and other charges? Yes, you will receive an income statement within sixty days (60) of the end of each calendar year outlining expenses for that year.
Are there any other fees and expenses I should be aware of? If you are a permanent resident you are subject to a certain level of rates and taxes, which are not high in Indonesia. For long stays exceeding 28 days you pay for your utilities, which are supplied by the developer and charged at normal rates plus 15% administration fee. Extra telephone lines too are supplied by the Developer and charged also at normal rates plus 15%.
What happens when I die? Your Suite and land lease forms part of your Estate in the same way as any other asset you own and may be disposed of in accordance with the provisions of the Purchase and Sales Agreement. There are no death duties in Indonesia.
Can families/Friends of mine stay free of charge or make use of my benefits if I’m unable to? We require the names of those who you wish use your complimentary allocation. Please see 8.3 in Agreement.
How do I receive income from rentals? Every three months we send a complete financial explanation of your return and investment you decide where and how you want the money sent.
Can the owning family move into the villa after a year/several years? Yes, subject to that described in 37.
Will there be a cash call for renovations or infrastructure provision during the management period? It is customary that after a period of time necessary maintenance to the Suites will be required and cost will be divided between the home owners. Public areas, restaurant, bar, pool, etc. are the responsibility of the management company.
What if someone stays in my unit/villa and breaks items and ruins certain fixtures and fittings? We charge for all damage done before the guest leaves. This is a normal procedure in hotel operations.
Can I store my belongings such as private tools and sporting equipment in some form of locker or safe? Yes, a locker is supplied within your Suite.
