Apartments and terrace houses can be purchased or rented whereas villas will be build on demand. The purchase of an apartment or terrace house is on a lease basis, with the right of use of the specific unit for the time (similar to ownership structures in Western countries) the resident/s are alive, but there will be a minimum of 30 years of living rights stated in the agreement.
In the event that a resident passes away before that time, any heir or beneficiary will be compensated with a certain percentage of the original purchase price per year left (for details please go to "Repurchase Guarantee"). The heir or beneficiary has the option to continue living as a resident, provided that he/she agrees to all contractual obligations, and a new 30 years lease agreement will be in place. Alternatively, they can keep the property and rent it out via the management and enjoy a steady rental income.
Residents who are married or having a common law marriage and are living together in the Residence are entitled to continue to stay at the purchased apartment or terrace house under the same conditions as before if one partner passes away.
Ownership of the entire estate including the land and houses, buildings, apartments etc. will be with the developing company who will also be responsible for maintenance. Operation and management of the entire project will be with the management company which will be a separate entity.
All residents will be members of the “DIFFERENCE CLUB” and can choose between 4 different types of membership cards (Classic Card, Silver Card, Gold Card and Platinum Card) with different service packages according to the needs of residents. Payments will be on a monthly basis. The service is also available for couples were one partner enjoys a discount on the membership fee or can choose a different membership card.
Payments for services not included in the membership and/or purchase of goods, food etc. will be made by using the Residence Debit Card and charged on a monthly basis.