Dubai-based property developer Seven Tides has uncovered a range of new payment plans for two of its development projects in Dubai, namely SE7EN Residences The Palm and SE7EN City JLT, Invest-Gate reports.

“Potential investors can reserve an apartment at Seven Tides’ first mixed-use development SE7EN City JLT with just a 5% deposit and a 6% furniture down payment, followed by payments equal to 3% of the cost price to be paid every subsequent quarter until May 31, 2021, with the final 60% to be paid on completion,” read a released statement on March 31.

According to the statement, SE7EN City JLT’s first phase was completely sold out in less than one week, valued at AED 1.3 bn and due for completion during Q4 2021, with the remaining units ranging from studios to one-, two-, and three-bedroom apartments.

“To sell out phase one of SE7EN City JLT in less than one week was remarkable, particularly given the tough trading conditions many developers are facing,” CEO of Seven Tides Abdulla bin Sulayem was quoted as saying.

“Indian investors have bought 18% of the SE7EN City JLT units so far, while British and UAE national investors have purchased 9% each,” Sulayem remarked.

As for SE7EN Residences The Palm, the developer’s third project at Palm Jumeirah, an attractive payment plan is offered for studio and one-bedroom hotel apartments, which comes with a developer-backed 10% of guaranteed return on investment (ROI) over five years.

“Potential buyers can reserve an apartment in the luxury residential development with a 5% deposit of the total sale price, plus a 6% down payment on furniture. A further 5% would be required as the first installment, followed by a 10% payment every quarter thereafter until 30 June 2020, with the final 50% to be paid on completion,” the statement added.

The CEO confirmed that British nationals have bought 13% of the units sold, followed closely by Russian and Brazilian locals, accounting for 12% and 9%, respectively.