# Buying at SJ Dhihereya: the terms, the discounts and what to check before you pay

> SJ Group's booking terms for SJ Dhihereya Residence in plain words: who is served first, what the 2 and 5 per cent discounts are worth, what a cancellation costs, and ten questions to settle before paying for a home due in 2028.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/sj-dhihereya-residence-buying-terms-and-what-to-check
Published: 2026-10-22T02:00:00.000Z · Updated: 2026-10-16T18:14:42.361Z · Event date: 2026-10-16

SJ Dhihereya Residence is sold off plan. Buyers commit now to a home the developer expects to finish at the end of 2028, so the terms matter as much as the floor plan. Here are SJ Group's terms as published on its listing, in plain words, followed by what we would ask before paying anything.

## The terms

**How a booking works**
- Every application is reviewed by SJ Construction Pvt Ltd, which decides who is offered a home.
- An offer lapses if the booking fee is not paid by its due date.
- Successful buyers may be asked to sign a **commitment agreement** with SJ Construction.

**Who is served first**
1. Buyers paying the **full price at booking**.
2. Then buyers putting in the **highest equity**. Pension savings do not count towards that equity.

**Discounts on the list price**
- **2 per cent** for paying 50 per cent or more at booking.
- **5 per cent** for paying 100 per cent at booking.

On a two-bedroom listed at MVR 4,096,828, full payment saves about **MVR 205,000**. On a 3+1 at MVR 5,401,756 it saves about **MVR 270,000**.

**Paying from a bank loan or your own funds**
- Buyers using **end-user (bank) financing** may be asked for an employment letter or other proof of income.
- **Self-financing** buyers must show proof of income or funds. They then pay in stages under the developer's tentative payment schedule, published as a download on the listing alongside a finishing schedule.

**Cancelling**
- If you cancel a confirmed booking, the booking and commitment fees are returned **less 30 per cent**.

## What the terms do not say

The listing does not state the **booking fee**, the **stages of the payment schedule** in its text, or what happens if completion is **later than December 2028**. Ask for all three in writing.

## Ten questions before you pay

1. **Is the sale open?** Since 14 October the developer has listed the development as "Temporarily On-Hold". Ask why, and whether prices or terms will change when it reopens.
2. **What is the booking fee, and when is it due?** Is it part of the price or on top of it?
3. **What are the instalments?** Ask for the payment schedule as a document, linked to construction milestones rather than dates alone.
4. **What if the building is late?** Ask whether the agreement provides compensation or a right to withdraw if handover slips past the expected date.
5. **Who holds the land, and on what terms?** Land in Hulhumalé is developed under the Housing Development Corporation (HDC). Ask for the lease or allocation behind the plot, and whether the sale of apartments has the approvals it needs.
6. **Which bank, if financing?** Check with your bank before booking that it will lend against this development and on what terms. Lenders differ in how they treat homes still under construction.
7. **What do you get at handover?** Ask what document records your ownership or right to the apartment, and when it is issued.
8. **What is finished, and to what standard?** The listing has a finishing schedule; check what is included (kitchens, wardrobes, air-conditioning, fittings) and what is not.
9. **What will it cost to live there?** Ask for the expected monthly service charge for the pool, gym, security and lifts.
10. **Can you let it or sell it on?** If you are buying to let, or might sell before completion, ask whether the agreement allows it and on what terms.

## Our view

Read together, the terms favour buyers with cash. Full payers and high-equity buyers go first, the discounts reward money up front, and a cancellation costs a share of the fees. The 5 per cent discount is real money. Weigh it against tying up the full price for two years before you can live in the home or let it.

The concierge can read an agreement with you and compare it with terms at other new buildings in Hulhumalé. This is guidance, not legal advice: have a lawyer review the commitment agreement before you sign.

## Sources
- sjgroup.mv/properties/sj-dhihereya-residence (developer's terms and conditions, downloads "payment schedule" and "finishing schedule", expected completion 30 December 2028, status "Temporarily On-Hold"; read 16 October 2026) (https://sjgroup.mv/properties/sj-dhihereya-residence (developer's terms and conditions, downloads "payment schedule" and "finishing schedule", expected completion 30 December 2028, status "Temporarily On-Hold"; read 16 October 2026))
- corporatemaldives.com/sj-dhihereya-residence-in-hulhumale-phase-1-opens-for-bookings/ (Corporate Maldives, 13 October 2026: discounts and starting price) (https://corporatemaldives.com/sj-dhihereya-residence-in-hulhumale-phase-1-opens-for-bookings/ (Corporate Maldives, 13 October 2026: discounts and starting price))

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.