FAQ About The Sultan Galiyat
Business Model and Floor Plan
If you’re considering investing in The Sultan Galiyat, a luxurious hotel apartment project located in the lush green hills of Galiyat, you probably have a lot of questions. This blog will answer the most frequently asked questions about the project, from its floor plan release to the rental income process. Let’s dive into the details:
Q1: When Will the Floor Design Be Ready?
Answer: The Sultan Galiyat and Gondal Group of Marketing have hired a professional architect team, and they are working diligently on the floor plan and front elevation. InshaAllah, the floor design and front elevation will be ready next week, giving future investors and buyers a clear view of what the project will look like.
Q2: How Will Rental Income Be Paid to Investors? What is the Sharing Formula?
Answer: We offer two rental income options for those who invest in The Sultan Galiyat:
- Option 1 (Fixed): Investors receive a fixed rental income of 0.5% of the total invested amount each month. Fixed-income clients do not need to pay for the suite’s furnishing cost.
- Option 2 (Sharing Based): Investors will receive 65% of the rental income, while 35% goes to The Sultan Galiyat management. For sharing-based clients, there is an upfront cost for suite furnishings.
Q3: How is Rent Calculated for Sharing-Based Clients? How is transparency maintained?
Answer: For sharing-based clients, rent is calculated based on the category of the apartment. We use international-standard software to track and manage rental details to ensure transparency. Investors can access reports showing how often their suite was rented and other financial details. Additionally, all financial reports will be made available to clients, ensuring full transparency.
Q4: How is Rent Distributed for Sharing-Based Clients in Different scenarios?
Answer: For sharing-based clients, rent is distributed based on the apartment type. Let’s say there are 10 two-bedroom suites, but only 5 were booked during the month. Out of those 5 booked suites, some may have been rented for 10 days, some for 5 days, and others for 2 days. The total rent generated from these 5 suites will be equally divided among all investors who have invested in the two-bedroom category, regardless of whether their specific suite was rented or not. This ensures fairness and equal rent distribution based on apartment type.
Q5: What if the Hotel is Not Completed in 3.5 Years? Will Rent Still Be Paid?
Answer: We are committed to completing The Sultan Galiyat within 2 years, but due to the weather conditions in Galiyat, such as snow and rain, the construction work can be briefly paused, so we have allowed a timeline of 3.5 years for completion.
Q6: What is the Height and Layout of The Sultan Galiyat?
Answer: The Sultan Galiyat will be built in three steps:
- Ground Level: Car parking and a landscaped hotel lawn.
- Lower Two Floors: Conference rooms, event halls, and a double-height lobby.
- Upper Two Floors: Hotel apartments. At the backside, we have a 7-floor structure, with the lower two floors dedicated to car parking and the upper five floors reserved for hotel apartments with stunning views.
Q7: What Happens if a Client Cannot Continue Payments?
Answer: If a client is unable to pay the remaining installments, they have two options:
- Request a refund, which will be processed within 2-3 months without any deductions.
- Sell their hotel suite to another buyer. This process could take anywhere from 2 days to several months, depending on buyer availability. If a client purchased the suite at pre-launch prices, they are likely to make a profit, as the current rate is Rs 30,000 per sq/ft and is expected to rise to Rs 35,000 per sq/ft.
Q8: Can Clients Rent Out Their Suites on Platforms like Airbnb?
Answer: No, clients cannot rent out their suites independently. The Sultan Galiyat management is responsible for managing and renting out the properties. However, clients are welcome to stay in their suites whenever they wish.
Q9: Can Fixed Agreement Clients Switch to a Sharing-Based Contract?
Answer: Yes, fixed-income clients can switch to a sharing-based contract, but only before the hotel is inaugurated. Once the hotel is operational, they will no longer be able to change the contract type.