Development size
The Palm contains 366 units (160 Travelers, 130 Canary, 66 Ivory and 10 Royale) and is phase one of a 10 year project covering 22km of coast line. The development will be managed by Swiss BelHotel - www.swiss-belhotel.com

Construction
Reinforced concrete foundation and frame, with masonry wall and cement board cladding. The roof is a timber truss with alang alang thatch.

Timber flooring is used throughout apart from the bathroom where a terrazzo tile is used. Air conditioning is fitted as standard in all units.

Furniture
Units come Fully furnished

Rental package
Guaranteed return of 8% for years 1 and 2 then review every 4 years. Projected returns are:

Year 3 - 8.04 - 8.33%

Year 4 - 8.80 - 9.12%

Year 5 - 9.62 - 9.97%

Free stay
Owners are given 14 nights free stay per year during the 15 year lease back.

Finance
Finance LTV up to 70% is being sourced in Malaysia with estimated interest rates of around 6.3% over 20 - 30 years, up to the age of 65. This finance is on a draw down basis, with payments starting on completion. Upon completion, an 85% local finance package is available on the PRICE upon completion.

Reservation
A 2% reservation fee is required to secure a property and is fully refundable in the event that the loan application is rejected.

Payments
Payments are made as follows:

20% on contract

10% on commencement of piling and pilecap of said building (approximately 6-8 months)

Closing Costs
The closing costs have all been included in the purchase price and if you are buying using the rental agreement

Taxation
Capital gains, income tax and property tax Zero rated....

Completion dates
The developer estimates a completion date of 18 - 24 months depending where the property is within the development.