113 Residences by Iman - Payment Plan

How the Iman 113 Residences Payment Plan Puts Control Back in the Buyer’s Hands

The 70:30 payment plan for 113 Residences by Iman is specifically designed to shift financial leverage away from the developer and put control back into the hands of the buyers. In a fast-moving off-plan market like Dubai, this balanced structure minimizes personal risk while maximizing financial flexibility. Here is exactly how this payment plan gives you total control:

• Affordable Down Payment: Booking your unit requires only 20% down payment, keeping your cash liquid for other expanses.
• Fixed, Low Stress Installments: Spreading just 30% of the cost across the construction phase ensures your monthly cash outflow remains small and manageable.
• Developer Accountability: Holding back the largest chunk of 50% until completion forces the developer to stick to strict timelines and quality standards.
• High Exit Leverage For Investors: Paying only 50% total before handover gives you the flexibility to flip the property for a profit before the final major payment is due.

Iman 113 Residences: Payment Structure & Milestones

Iman Developer at 113 Residences Al Sufouh offers a well-structured and flexible payment structure. Here is the milestone breakdown of this payment plan.

• Booking - 20% down payment of the total value is due immediately to book your preferred unit
• 1st Installment - 10% is due within the 90 days of booking
• 2nd Installment - 10% due at 40% construction completion
• 3rd Installment - 10% due at 60% construction completion
• Final installment - 50% due at 100% construction completion

Ownership Costs at 113 Residences by Iman

The total cost of ownership at 113 residences by Iman extends beyond the initial purchase price. To budget for an investment or residential purchase in this Al Sufouh 1 development, you need to factor in one-time government fees, the structured purchase installments and ongoing maintenance costs.

The complete breakdown of the ownership costs includes:

The Purchase Price

• The Starting Price: Starting from AED 1.8 million for 1 bedroom apartments, AED 2.56 million for 2 bedroom apartments, AED 3.65 million for 3 bedroom apartments and AED 5.4 million for 4 bedroom duplexes.

One-Time Upfront Fees

When closing the initial property purchase, Dubai Land Department (DLD) regulations require specific administrative and registration fees.

• DLD Registration Fee: 4% of the total property price, due at the time of booking.
• Oqood Fee: Approximately AED 3,000 to AED 5,000 to register the off-plan sales contract.

Utility Connection Costs

Upon handover, setting up your direct utilities requires standard refundable activation fees:

• DEWA (Dubai Electricity & Water Authority): Approximately AED 2,000 for an apartment setup.
• Chiller Fees: A standard security deposit for the centralised AC cooling network, around AED 2000 - AED 3000 (depending on the unit sizes).

Ongoing Post-Handover Costs

Once the building is completed in 2029 and you take ownership, you are responsible for recurring community maintenance fees. These services charges cover the upkeep of the amenities and services.

• Estimated Service Charges: In Al Sufouh, luxury residential services charges generally range from AED 15 to AED 22 per sq. ft. annually.