Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments PJSC [DFM: DIC], has announced easy and flexible payment plans for property purchases in its ‘Mirdif Hills’ project.
The payment plan includes 30% payment during the construction phase of the project, and the balance 70% payment on handover in Q4 of 2018, making the process easier for buyers with extended payment terms.
As per the plan, a 10 percent down payment is to be made on booking, followed by 5% payment on signing the sale and purchase agreement within the next 30 days, 5% within six months of the booking date, 5% within a year of booking, and 5% within 18 months of the booking date.
The balance 70% payment can be made on handover.
Obaid Mohammed Al Salami, General Manager of DIRC, said: “The payment plan for Mirdif Hills is aimed at offering customers added flexibility and a result of feedback from prospective buyers for ease in payment terms. The demand for Mirdif Hills has been very encouraging and the flexible payment plans are expected to make the buying process even more seamless.”
The Dh3 billion Mirdif Hills, the only freehold project in Mirdif now, is a mixed-use residential, commercial and retail development spread across 3.9 million square feet and equipped with 1,054 apartments – a mix of studio, one, two, three-bedroom apartments and duplex units, a four-star hotel with 116 rooms and 128 serviced apartments and a 230-bed hospital.
Mirdif Hills, being constructed in two phases, is expected to be completed starting Q4 of 2018.