Dubai Investments Real Estate Company (DIRC) has set up plans to facilitate payments for buyers of units in its AED 3 bn development project ‘Mirdif Hills’, Trade Arabia reports.

The new plan entails a 10% down payment to be made on booking, followed by a 5% on signing the sale and purchase agreement within the consequent 30 days. Another 5% would be made within six months of the booking date, a third 5% within a year of booking, as well as a fourth 5% within 18 months of the booking date.

The new plan would require buyers to pay 30% during the construction phase and 70% during the handover in Q4 of 2018.

Mirdif is a mixed-use residential, commercial and retail development encompassing an area of 3.9 mn sq ft and featuring 1,054 apartments. The project will also include a four-star hotel with 116 rooms, 128 serviced apartments and a 230-bed hospital.