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How many units are in each tower?
Each tower
comprises of 96 units, has 4 wings and 24 stories for normal 3 or 4 bed
apartments, with 1 unit in each wing. Essentially, a floor has 4 units
each on respective wing. Penthouses are on levels 25 and 26.
What is the total area of land for the project?
The total
area of the land is 92,000 sq yards
Why Tower 1 is highly priced?
The block
1 is a premier tower with all-round sea views & having extra features
(i.e. on top of the detailed specifications – see attachment, which are
meant for all towers):
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AC in
all rooms. |
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Kitchen – fully fitted out with appliances: Cooker with hood, Oven,
Microwave, Dishwasher and Refrigerator |
Can I have the tower 1 extra items in unit in other blocks?
How much does it cost?
To make it
convenient for our customers specially expatriate Pakistanis, we can provide
all the tower 1 facilities at USD 15,000. All top brand imported products
will be used.
What is the booking fee? How much down required?
Initial
deposit of 5% of selling price is required on the signing of Order form.
10% of purchase price is payable on issuance of Provisional Allocation
Letter usually within three (3) days for the signing of Terms and
Conditions (T&C). The Provisional Allocation Letter is issued by Creek
Marina Pakistan to the client if they have already paid 15% of the Total
Sale Price and money has been cleared in our Bank. We usually send it by
mail to the client. The Allocation Letter is directly linked to the
Terms and Conditions. The Allocation Letter signifies that the unit is
fully registered in the client's name.
Can I purchase units from abroad?
Yes. Once
your email enquiry is received by us, we will send you the Expression of
Interest Form, Price List and Payment Schedule. The Expression of
Interest Form has to be filled in & send us back (fax/email). Once
received by us, we will email you the unit availability status based on
your preference. Upon your confirmation, you will be advised to send
(wire transfer) 5% of the listed price of the unit selected to our bank
a/c with HSBC, Karachi (details available in downloads section of the
web site). Confirmation of the remittance will be followed by couriering
you the Terms & Conditions (legal documents) of the sale. This T&C is a
legal document & has to be returned back to us (as per guidelines
provided) along with balance 10% of the initial deposit. Allocation
letter will be formally issued & couriered to customer.
What supporting documents are required to be sending with
T&C?
The
following docs will be required from your side:
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Copy of Buyer's Pakistani NIC card, in case
Pakistan citizenship has been relinquished, copy of her Pakistan
Origin card (POC) |
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Copy of buyer's nominee Pakistani NIC card, in
case the nominee has also relinquished Pakistan citizenship,
copy of his/her Pakistan Origin card |
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4 photographs of buyer |
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2 photographs of nominee |
The
photocopies of ID cards may please be attested by either Pakistan Hi
Com/Embassy OR Attorney OR Notary Public at your country of residence.
I have acquired citizenship of another country; can I
purchase a unit in Creek Marina? Are their any Restrictions for foreign
nationality?
Yes, you
can. Pakistanis who have acquired citizenship of other country (which
does not allow dual citizenship) will have to submit a copy of their
Pakistan Origin card, issued by GOP.
How does one pay for it if reservation is made: Locally in
Pakistan or transfer of funds from abroad?
Actually,
it is for your convenience. All payments are to be made in the currency
once selected for payment, swapping of currency in the middle of
payments will not be made, as it will make the transaction messier. Our
expat clients, paying in USD, wire transfer the periodic payments and
all receipts are sent to them in hard and soft copies.
What is the PAYMENT SCHEDULE? Are their monthly or quarterly
payments?
There are
two payment schedules being offered:
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PROGRESSIVE Quarterly Payments and
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FULL
PAYMENT (customers opting for full payment are entitled for a 5 %
upfront discount)
Customers
may opt to either of the two payment plans.
What is Progressive Payment Schedule?
Quarterly
progressive payment is essentially based on the project construction
timeline. This helps in financial planning of our customers.
Are their any further Taxes APPLICABLE being a foreign
nationality holder?
No, there
are no such levies applicable.
Are their any hidden charges? Will I be required to pay
additional development charges once the project commences?
There are
no hidden charges whatsoever. Everything has to pay in accordance with
the quarterly payments. Till the completion of the project, the Payment
Schedule which was signed at the time of signing of T&C will remain in
effect. All progressive payments have to be made strictly in terms of
the Payment Schedule. Additionally, the only item required is DHA
membership fees, which is a very nominal amount.
In what currencies can I make payment?
Payments
can either be made in Pakistan Rupees or US Dollars. Please note that
change of currency after making payment in one currency is not allowed.
What are the extra charges incurred after the purchase? Will
there be any service charges. If so, please advise me the annual cost
and the services to cover these service charges.
There are
no hidden charges whatsoever. Apart from the selling price, there are some ancillary costs
incurred at the time of possession of the unit which include:
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DHA
membership costs
(a nominal amount) – this is mandatory for any one who buys property
in DHA. And this can be used for purchases within DHA, Karachi. (See
Details below)
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Lease
Transfer charges:
these are govt duties incurred when the title dead is signed once
all the payments have been received. (The details are mentioned in
the Terms & Conditions (T&C) of the sale)
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Maintenance charges:
once the project is completed, service management firm will be hired
& all our patrons will be advised of the charges. The maintenance
charges are the amount owners need to pay to the asset management
company (like a body corporate) looking after maintenance of the
premises after completion. Once the project is completed, the
completion stage, service management firm will be hired & all our
patrons will be advised of the charges. We want to ensure the
maintenance is first class. The rates will be market based.
What will approximate maintenance cost will be after the
apartments are delivered?
Once the
project is completed, service management firm will be hired & all our
patrons will be advised of the charges. The maintenance charges are the
amount owners need to pay to the asset management company (like a body
corporate) looking after maintenance of the premises after completion.
We want to ensure the maintenance is first class. The rates will be
market based.
What are the DHA Membership Costs?
On
completion of CMP, customers / buyers are required to pay following
charges in addition to actual cost of unit on possession:-
DHA member
ship fee if individual is not already a member = Rs.40,000/-
(Membership can be obtained by the customers immediately after signing
TNC or any time till he/she gets possession. Membership is mandatory &
required at the time of transfer of apartment in the name of the
customers.)
Is GST applicable in Pakistan on property prices –
fresh/resale transactions? Is it included on your prices? If yes, what’s
the rate?
2 %
Capital Value Tax is applicable for residential apartments for covered
area of 1,500 sq.ft or above. It is not included in our prices; in fact
all applicable government taxes and charges will be paid by the
customers at the time of lease registration.
I understand that in order to own any property in DHA
schemes, one has to be a member of the Society. If so, please confirm
that the cost of membership is covered in your pricing.
No, it’s
not covered in the pricing.
Will DHA membership automatically qualifies to become golf
club membership?
It helps
if some one is holding DHA membership and would like to become golf club
membership.
What is the government duties/property taxes involved? Any
idea about the rate?
For
property taxes, it will be decided once the apartments are fully
constructed, but we are assuming they will be 5-10% of the purchase
price depending on DHA’s valuation.
Who will pay the transfer fee buyer or seller?
It’s
entirely up to the unit owner to decide if he wants to pay the transfer
fee (.05% of Total Sale Price) from his own pocket or if he will charge
it to the new buyer. The negotiations for the transfer are purely
between the rightful unit owner and whoever he wants to transfer the
unit to.
What is rate of liquidated damages?
By
definition it means a sum of money specified in the purchase contract to
be paid by one party to the other in the event of a breach of contract.
Clause 5 of Terms and Conditions (T&C) deals with it. QUOTE: “The
construction of the building in which the Apartment shall be located is
expected to be completed within 42 (forty two) months from the date of
starting construction expected by 31 December 2005 subject to the
conditions of force majeure, which shall include but not be limited to
strike, lockout or boycott, riots, war, civil commotion, interruption or
any other matter or cause beyond the control of the Developer. This
shall also include changes in fiscal policies of the Government of
Pakistan. In such conditions, without restricting the rights of the
Developer in any way under the terms hereof, the Developer shall be at
liberty to revise the construction schedule. In case, the
construction of the building is not completed by the Developer within
the time frame stipulated above plus three months grace period for
reasons not mentioned or referred above, then the Developer shall, for
each month the delay in the completion of the construction of the
building shall continue (not excepted in terms above), be obliged to pay
to the Applicant(s) as liquidated damages the following sums:
Ø
For 3 & 4 bedroom apartments: Rs.
10,000 per month
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For all penthouses:
Rs. 15,000 per month
Necessary
adjustments on account of the liability of the Developer to pay
liquidated damages in terms above shall be made by the Developer at the
time of receiving from the Applicant(s) final payment / installment of
the Sale Price.” UNQUOTE.
A customer paying to us in USD is of the view that liquidated
damages as
mentioned in Clause 5 of Terms & Conditions (T&C) should also be in USD.
Liquidated
Damages will be paid in Pak Rs, should the buyer wants us to pay in USD
or Pound it will be converted at the prevailing exchange rate.
When will the possession of apartments be available? What is
the expected time of completion of Marina?
The Phase
1 units (in blocks 1, 2, 7 & 8) are scheduled to be completed within 42
months - construction starting from December 2005 (comes to June 2009
when the apartments will be handed over to customers) and Phase 2 Units
(blocks 3, 4, 5 and 6) starting in June 2006 (same 42 months completion
time i.e. Dec 09), liquidated damages applicable.
When will the ancillary facilities be ready (club house,
etc)?
They will
be ready when the project is completed. Club services will incur costs
for F&B facilities, the gym and pool will be free to be used by
residents.
What safeguards have been incorporated in Creek Marina w.r.t
earthquakes?
When Creek
Marina project was being designed - a year ago - Meinhardt (Singapore)
as the project managers and design consultants for this prestigious
project had elected to design the building structure for seismic
intensity equivalent to Zone 4, even though Karachi is only classified
as Zone 2.This means that Creek Marina structure can withstand the
highest level of earthquake that can be expected during the lifecycle of
the building. Although this has increased the construction cost of Creek
Marina project a lot more than the Zone 2 design, it was considered to
be a worthwhile price to pay to ensure and enhance the safety of Creek
Marina occupants. Purchasers of these luxury residences can therefore
have the peace of mind that their homes and investment will be safe and
secure - come what may
What are the construction milestones?
The
construction of Creek Marina began last year. To date, the basement
excavation, boundary wall construction and the sales/site office have
been completed ahead of schedule. The main contract for the foundation
piling has been awarded to IVCC - Bachy Soletanche (U.K) - PMC (U.K) and
the main building foundation construction is now underway.
It has also been noticed that each Block is going to have
only
two lifts which is not going to be sufficient, residents will face
severe problem
in the morning (school & office time) and evening?
All
lifts are private lifts, each unit is served by 2 lifts - opens in your
own lobby, operated by smart cards and above all lift waiting times are
as per international standards, also we have service lifts separate for
maids and bulky stuff.t
Where is the project located?
Perfectly located at the most exclusive precinct of Creek City in Phase
8 of DHA Karachi - facing the prime waterfront adjacent to DHA Golf
Course with unobstructed ocean & golf-course views.
Please tell me it is a DHA project or a private project duly
approved by DHA Karachi.
Creek
Marina is a DHA approved project being developed and managed by
Meinhardt Singapore Pte Ltd
www.meinhardt.com.sg Creek Marina
Singapore is the developer of this project with Meinhardt Singapore Pte
Ltd as the main sponsors.
Is there a speck ready to visit??
We have a 3D model of the project at our site office for better
comprehension of layouts, views available etc., as well as detailed
perspectives on all apartments displayed. The actual construction can be
viewed Onsite by our viewing deck at site office - the first in Pakistan
- which has been built to enable visitors to view the progress of works
of the respective blocks as well as appreciate the views the apartments
will eventually offer. Additionally, it can be viewed through our
website (images) and bimonthly newsletter.
For those who have been wishing to catch a glimpse of the
spacious and luxurious apartments, construction of show flats is in the
pipeline. These show flats will be the actual units in the partially
completed tower blocks. The show flats will be designed by HBA and are
estimated to be completed by mid 2007.
Designed and built to be the exact structural replica of the
final units, the show flats will be completed with the finest
finishing’s that will exceed all expectations of luxurious indulgence,
exclusivity and privacy. Marble floors or its equivalent will grace the
living and dining areas while modern concept imported quality built-in
wardrobes will be installed in all bedrooms. There will also be 2
designated private lifts to serve each of the show flats.
Can you give some comparison between the two?
Well in
entirety, the two are different, with Creek Marina being a 6 star
international condominium. Truly, nothing of the sort like Creek Marina
has been conceived and developed so far in the local Pakistani market.
In all aspects viz foreign investment, project management, construction
and services/facilities specifications to developers and architects, it
ranks on top.
Below are
some pointers, that it makes it unique and better from Creek Vistas:
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Offers unsurpassed standard of luxury with international quality
and facilities comparable to the best residences in any
developed cities such as New York, London, Singapore and Sydney. |
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To ensure the quality of the residences, only international
contractors are short listed for this project and all
construction works are being minutely supervised by a team of
expatriates. |
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It is not a typical run of the mill type of project which
mushroom in Karachi; Creek Marina’s design and specifications
meet all international standards (civil, structural, electrical
and mechanical – compliant with British, US and Singapore
codes). |
How
lucrative is the project investment?
Given
the most exclusive waterfront location of Creek Marina, its average
selling price today represents super-value with tremendous up site
potential. With the upcoming development of Raffles International Club
(within close proximity to these exclusive residences), we estimate
that, even before the project is completed, the units should be selling
at, at least 50% premium.
Looking
at the recent real estate prices in DHA & the escalation of construction
costs in Pakistan vis-à-vis the quality of development & facilities
offered at our project (see detailed Project Specifications), it can be
easily inferred that Creek Marina is modestly priced, offers the best
return for your investment.
Is Air conditioning provided in the apartments? will it be
central Units?
All 3
and 4 bed units come with AC in living and master bedroom only. All
other rooms have the necessary fittings for the customers to install
own split types. Units in tower 1, have ACs in all rooms + other
extra features. The block 1 is a premier tower with all-round sea
views & having extra features (i.e. on top of the detailed
specifications – see attachment, which are meant for all towers):
Ø
AC in all rooms
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Kitchen – fully fitted out with appliances: Cooker with hood,
Oven, Microwave, Dishwasher & Refrigerator
These
extra items (meant for blk 1 units only) can be provided in units in
other blocks at USD 15,000 by us. This was allowed by us keeping in
view the requests that we had received mainly from expatriate
clients.
What are the electrical and mechanical systems in place?
Mechanical & Electrical System:
Electrical Installations:
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Standby power generation system provided |
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Electrical wiring to be concealed wherever possible |
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Internet
access to each apartment |
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Telephone outlets to each apartment |
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Lighting Dimmer Control System (Ambience Lighting Control) |
Air
Conditioning:
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For 3 and 4 Bedroom apartments, air-conditioning will be
provided for private lobbies, living, dining and master
bedrooms. |
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For other rooms, air-conditioning can be provided as an option
(Connections/plumbing for a/c will be provided as standard). |
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For Penthouse, air-conditioning will be provided
throughout |
Lifts
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Two designated private lifts for each unit |
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Large service lifts for emergency and delivery of bulky items |
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Hot Water System for all bathrooms and kitchens |
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Fire Fighting system for every floor and car park |
What are the Safety and security mechanisms in the project?
From strategically positioned closed circuit cameras,
guard-houses, and reception desks manned by security personnel, to
your personal access card that unlock the private elevators, the car
park barrier and the main entrance door, the levels of security are
truly state-of-the-art and found nowhere else in Pakistan. The mean
features are:
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Digital Entrance Lockset |
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Gated and secure community entrances |
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Security Desk at entrance lobbies of each block |
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Card Access Control for all entrance lobbies & lifts |
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Audio & Visual connection of each apartment to Security Desk at
each block |
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Emergency lights at strategic locations |
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Intelligent Home Security and Surveillance System |
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Panic button at Master Bedroom and entrance lobbies of each
apartment |
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Motion detectors for intruders & lighting on/off in the private
lobbies & entrances |
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Intruder system with Key Pad link to telecontrol, motion
detector & panic button provided for each apartment |
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Automatic Barrier system with Card Key Access |
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Closed Circuit TV to lobbies, car park & common areas |
What facilities are included in the Penthouses?
Apart from
all the facilities as mentioned in the detailed specifications,
penthouses have following additional features:
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Larger
area: single level penthouse has 8,095 sq feet. |
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Jacuzzi |
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Private in-house swimming pool |
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Additional terraces |
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Air
conditioning provided through out |
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2 car
parks. |
I am concerned about the water and electricity issues? How
are these matters being considered by the management? Last thing I want
is to be stranded on 20th floor with no electricity or water.
We are
aware of the power & electricity failures occurring in Karachi. Phase 8
of DHA will have a separate co-generation unit (an energy efficient
system that simultaneously produces power and heat or steam from the
same process) to produce desalinated water & electricity for the Creek
city project. In addition Creek Marina is designed to have enough stand
by power to operate all the essential services, lights/fans & one air
conditioner in each apartment, come what may. Apart from these Creek
Marina project is designed to have fail safe electricity & water
resources.
Is there a private school in the area for children ages 13 -
18?
These are
the facilities nearby Creek Marina: DHA Academy, Lecole Academy, Bayview
Academy, Creek Club, Golf Club, Area 51 (commercial area), Marina Club
and Carlton Hotel. Regarding future developments, there is a proposed
DHA Teaching hospital along Faisal Street. No. 1, and also proposed gas
station and Mosque are in pipe line.
Is there a pray area/mosque in the project?
We have a
designated pray area in all the towers for praying, not to mention of a
mosque in the close proximity.
I need the flexibility of doing some of the interior on my
own, can I do that?
As far as
the interior designing is concerned, you can do that, but if you require
any structural change in the unit layout, then you have to be a bit
specific & advise us accordingly.
Once purchased, how can I update the billing address?
A lot of
our buyers are residing overseas. We will send the quarterly billing
invoice to your latest billing address with us. In case, your billing
address has changed, you are advised to immediately let us know
(phone/fax/email) about your changed location. Please note that there
are late payment charges applicable.
What engineering codes is the Project compliant?
It is
not a typical run of the mill type of project which mushroom in Karachi;
Creek Marina’s design and specifications meet all international
standards (civil, structural, electrical and mechanical – compliant with
British, US and Singapore codes).
Structure:
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Foundation: Cast-in-situ bored piles/barrettes/diaphragm walls or
an approved foundation system
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Sub & Superstructure: Cast-in-situ reinforced concrete structure
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Seismic Design: Structural and foundation system designed for
seismic loads
All
technical specs follows high international standard viz. British
Standards, American Concrete Institute, Uniformed Building Code and
Pakistan Building Regulations in all areas (e.g. civil & structure ).
The
M&E Services Installation is based on the following Standards:
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ACMV
- ASHRAE and Singapore Standards
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Electrical - Singapore and British Standards
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Lift
- Singapore and British Standards
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Fire
Protection - Singapore and British Standards
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Plumbing and Sanitary and Gas - Singapore and British Standards
What will be the lease period for the apartments?
Are they being Freehold?
DHA
(Defense Housing Authority) lands are not offered as freehold, it’s a 99
years old lease. At the time of handover of apartment, sub-lease will be
registered in customer’s name and this sub-lease will show the tenure of
lease. The Ownership Documents (sub-lease to be registered) will be
given to customer after receiving the final payment (15% final
installment) from customer.
What is Terms & Conditions (T&C)?
T&C is NOT
a contract or lease agreement. It is a signed understanding by the
customer to understand and accept rules & regulations, payment terms etc
governing his sale. Once, it is signed and 15% of the payments received
by Creek Marina, Provisional Allocation Letter are issued to customer.
The actual sublease agreement will be signed by both parties at the time
of possession and after receipt of all payments.
Can foreigners buy 99 year old lease like Creek
Marina. Can you please also check that whether bungalow (plot land)
is freehold in DHA or it is also 99 year lease?
Foreigners
can buy property in Pakistan BUT they have to get the permission from
Government of Pakistan. However, those Pakistanis who have acquired
foreign citizenship by relinquishing their Pakistani citizenship can but
property in Creek Marina buy applying for Pakistan Origin Card to their
respective Pakistan High Commission/Embassy. Pakistan Origin Card is
issued by NADRA and also entitles, among other things, 5 year visa free
entry in Pakistan
How about the project insurance and with whom?
Till
construction, developer is liable for insurance of the project. All such
safeguards are as per international standards and legal documents which
govern the sales/purchase contain the necessary clauses. I may add here
that It is not a typical run-of-the-mill type of project which mushroom
in Karachi; Creek Marina’s design and specifications meet all
international standards (civil, structural, electrical and mechanical –
compliant with British, US and Singapore codes).
What will be the lease period for the apartments?
Are they being Freehold?
DHA lands
are not offered as freehold, it’s an 89 years old lease. At the time of
handover of apartment, sub-lease will be registered in customer’s name
and this sub-lease will show the tenure of lease.
How many bathrooms in 3 and 4 bedroom room; attached or
independent?
All
bedrooms come with attached bath. Maids have a separate bath adjacent to
their room which is accessible through Kitchen area. For Please refer to
unit layouts on our website which gives a better understanding.
What is the length and width of these apartments?
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TYPE |
GROSS FLO0R AREA (GFA) |
LEVEL |
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3 BEDROOM APARTMENTS |
3,337 SQFT |
2-24 |
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4 BEDROOM APARTMENTS |
4,284 SQFT |
2-24 |
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SINGLE LEVEL PENTHOUSE (3 BEDROOM BLOCKS) |
6,340 SQFT |
25 |
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SINGLE LEVEL PENTHOUSE (4 BEDROOM BLOCKS) |
8,095 SQFT |
25 |
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MAISONETTE PENTHOUSES |
8,665 SQFT |
26-27 |
The Development currently comprises 736 apartments and 32
penthouses in 8 high-rise towers offering five types of unit.
Are there visitors parking available?
Yes, there
are visitors’ parking spaces, which are located near to each respective
tower. Visitor car parking is free, however, visitors’ cars cannot enter
the basement car park (which has Automatic Barrier system with Card Key
Access) meant for residents.
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