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International City III - Cambridge PSA

Discussion in 'Dubai property' started by muqarabin, Jul 5, 2008.

  1. muqarabin

    muqarabin New Member

    I got my Property Sales Agreement (as well as Rental Scheme Agreement) for my purchase at Cambridge Residence of International City III this week, from GPD Investments

    It is stated in there that the Completion is now Dec 2010.

    Anyone else received their documents yet. I have yet to read the PSA in full, just flicked through it but what caught my eye in the Rental Scheme Agreement that I have read in depth is the Clause 15.3 which states that The Owner can terminate the rental agreement with a year's notice and also pay Liquidate damages of one year's guaranteed Yield (which is 8% of purchase price).

    Anyone have experience of guranteed rental scheme and is this a normal case???? I find this termination requirement quite steep????
     
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