Damac Properties’ ELO 3 payment plan is made to give customers ease and flexibility. Assuring that the financial strain is gradually reduced, this includes a planned payment schedule that enables buyers to make payments in installments. A sequence of milestone payments that correspond with the building progress is made after the initial down payment, and the final payment is made at handover.
Down Payment
During Construction
On Handover
| Installments | Payment (%) | Milestones |
|---|---|---|
| Down Payment | 20% | On Booking Date |
| 1st to 6th Installment | 6% | Within 8 months (1% monthly) from booking date |
| 7th Installment | 10% | Within 9 months from booking date |
| 8th to 14th Installment | 7% | Within 16 months (1% monthly) from booking date |
| 15th Installment | 10% | Within 17 months from booking date |
| 16th to 22nd Installment | 7% | Within 24 months (1% monthly) from booking date |
| 23rd Installment | 10% | Within 25 months from booking date |
| 24th Installment | 5% | On 80% Of Building Completion |
| 25th Installment | 5% | On 90% Of Building Completion |
| Final Installment | 20% | On Completion |
