Luxury Canal Residences: the 20/45/35 payment plan explained step by step
Luxury Canal Residences on Dubai Islands is sold with 20% at booking, 45% during construction and 35% at handover. What each share covers, when it falls due and where the money goes.
The structure in one line
Luxury Canal Residences, by Prestige One on Dubai Islands, is sold off-plan with 20% at booking, 45% during construction and 35% at handover. It sits between the two other Prestige One structures in our selection: 20/80 at Coastal Haven, where nothing is due before handover, and 20/40/40 at Hilton Residences, where the construction share is smaller. At 45%, Luxury Canal asks for more of the price while the building is going up and less at the end.
The collection runs from one to three bedrooms, with penthouses, arranged around canal views. Starting prices and the handover date are on request from your adviser.
What each tranche represents
| Stage | Share | What it covers |
|---|---|---|
| Booking | 20% | Reserves the unit, signs the sales agreement, opens the file with the escrow bank |
| Construction | 45% | Milestone instalments as the building rises, according to the schedule in your contract |
| Handover | 35% | Settled before the keys and the title deed transfer |
The construction share is not paid as a single sum. It is split into instalments tied to progress on site, exactly as stated in your sales agreement. Orven does not quote fixed dates for these milestones; the schedule confirmed by your adviser at booking is the one that applies to your unit.
When each payment falls due
Booking comes first, at signature. The construction instalments follow according to the schedule in your contract, each one linked to a stage of the build rather than a fixed calendar date. The 35% at handover is the last payment, due once the residence is ready and before you receive the keys. Between booking and the first construction instalment there is no fixed grace period stated here; your adviser confirms the exact sequence from the current sales documents.
Where the money goes
Every instalment is transferred to an escrow account opened for this specific project at a UAE bank, controlled by the Dubai Land Department. Prestige One cannot draw on these funds freely: release follows certified construction progress. You can check the project's status at any time through the DLD's Project Status Enquiry service, which gives an independent view of where the building stands rather than relying only on the developer's updates.
This matters for a buyer paying instalments from Lagos, Paris or Dubai from a distance: your money is held under regulatory control, not simply forwarded to the developer's operating account.
What you prepare at each step
- At booking: passport copy, proof of funds for the 20%, and the signed sales agreement.
- During construction: keep a standing arrangement with your bank for international transfers, since instalments are spread over the build rather than paid once.
- Before handover: the 35% balance, plus the acquisition costs on top of the unit price, including the Dubai Land Department's 4% registration fee and the Oqood registration fixed for off-plan sales.
- If you intend to finance part of the 35% with a bank, tell your adviser early. Financing remains subject to the lender's approval and valuation, never guaranteed at booking.
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Why the construction share matters for your cash flow
A buyer comparing Luxury Canal Residences with Coastal Haven or Hilton Residences is really comparing how the same total price is spread over time. At 20/80, your cash stays with you until handover and the whole balance is due at once. At 20/40/40, the construction share is smaller and the handover share larger. At 20/45/35, more of the price leaves your account during the build, which can suit a buyer who prefers to settle most of the price gradually rather than face one large payment at the end. Neither structure is better in itself; the right one depends on how your own income and savings arrive over the two or three years of a typical off-plan build.
Reserving from abroad
- Send your budget and bedroom preference to Orven on WhatsApp.
- Receive the current availability, floor plans and the exact schedule for the unit that matches.
- Sign the sales agreement electronically with a copy of your passport.
- Transfer the 20% to the escrow account with the proof of source of funds your bank requires.
- Follow the construction instalments as your adviser confirms them, then settle the 35% before handover.
See the Luxury Canal Residences page for the current selection, or compare this structure with the other Prestige One plans in our guide on comparing off-plan payment plans in Dubai. Brokerage is carried out through ORVEN REAL ESTATE BROKERAGE L.L.C S.P.C (Economic License No. CN-6800129, ADRA).
FAQ
Is 20/45/35 fixed for every unit at Luxury Canal Residences? It is the structure published for the project. Ask your adviser to confirm it in writing in the sales agreement for the specific unit you reserve.
Can I pay the 45% construction share as a lump sum instead of instalments? The schedule follows the developer's milestones as stated in your contract. Discuss any variation with your adviser before signing.
Can the 35% at handover be financed? For some non-residents, subject to a UAE bank's approval and valuation near completion. This is possible, not guaranteed.
Where is my money held between instalments? In the project's escrow account with a UAE bank, controlled by the Dubai Land Department, released to the developer as construction milestones are certified.
What happens if the construction schedule changes? Any change to milestones or dates is confirmed through your sales agreement and your adviser. Orven does not state completion dates beyond what is in the current sales documents.
ORVEN PROPERTIES
Talk to an Orven adviser
Leave your number: an adviser calls you back or replies on WhatsApp, in your language. No commitment.
Frequently asked questions
Is 20/45/35 fixed for every unit at Luxury Canal Residences?
It is the structure published for the project. Ask your adviser to confirm it in writing in the sales agreement for the specific unit you reserve.
Can I pay the 45% construction share as a lump sum instead of instalments?
The schedule follows the developer's milestones as stated in your contract. Discuss any variation with your adviser before signing.
Can the 35% at handover be financed?
For some non-residents, subject to a UAE bank's approval and valuation near completion. This is possible, not guaranteed.
Where is my money held between instalments?
In the project's escrow account with a UAE bank, controlled by the Dubai Land Department, released to the developer as construction milestones are certified.
What happens if the construction schedule changes?
Any change to milestones or dates is confirmed through your sales agreement and your adviser. Orven does not state completion dates beyond what is in the current sales documents.
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