Location: Dubai Islands (Exclusive beachfront location along the outer crescent with panoramic sea views and direct private beach access)

Commercial Retail
Cove I & II Retail
Property
Ellington Cove
Project Overview
Premium beachfront residential and retail development
G + Multiple Levels across 4 Buildings
Total Units: TBC Residences
Retail Units: 3 Ground Floor F&B Units (Available for Sale)
Retail Spaces:
- Cove I – Tower A – Unit A-Retail 1: 1,695.85 sq. ft. – AED 8,818,828
- Cove I – Tower A – Unit A-Retail 2: 4,498.35 sq. ft. – AED 23,391,828
- Cove II – Tower A – Unit A-Retail 3: 5,597.23 sq. ft. – AED 29,105,828
Parking Allocation:
- Studio/1BR/2BR: 1 parking space
- 3BR/4BR: 2 parking spaces
Elevators: TBC (Multiple high-speed lifts per building)
Ownership: Freehold
Retail Overview:
- Starting Prices: From AED 5,200 PSF (Retail Shop)
- Unit Sizes: From 1,695 to 5,597 sq. ft. (Retail)
- Payment Plan: 60/40
- Handover: Q3 2027
Amenities
- Hospitality-inspired main lobby with architectural lighting, concierge, and curated communal zones
- Beachfront clubhouse with walk-out access to the sand, separated lounge areas, and bookable event zones
- Urban beach pool, garden pool, and leisure pool for resort-style aquatic experiences
- Dedicated spa with hydrotherapy pool, massage chairs, and calming coastal-inspired interiors
- State-of-the-art fitness studio with eco-conscious equipment and full-length glazing
- Soundproof yoga studio with accessories, dimmable lights, and serene ambiance
- Changing rooms with spa-quality wet zones, vanity stations, and hydrotherapy areas
- Indoor kids’ play area with beach-themed décor, soft flooring, and natural light access
- Retail promenade featuring cafes, fine dining, and boutique outlets for community convenience
- High-quality materials and finishes throughout all public areas with original Ellington Art Foundation pieces
Views
- North: Panoramic oceanfront and the Arabian Gulf
- South: Dubai Islands greenery and skyline
- East: Beachfront views with sunrise horizons
- West: Sunset views across Dubai’s coastline
Illustrative model
Scenario modeller
Set your own assumptions and see how Cove I & II Retail behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
Enter the asking price to run the model.
Every figure recalculates as you type. Use the price you are actually considering.
How each figure is calculated
- Handover
- The date the unit is handed over, set in quarters from purchase. Gross rent, the vacancy allowance, maintenance and management, and the service charge all start there and not before — an unbuilt unit cannot be let and is not billed. The year handover falls in gets the exact fraction it is entitled to, not a rounded whole year. Capital growth is not treated this way: it compounds from today across the whole hold, because an off-plan unit can be sold before it completes. Where the holding period ends before handover, there is no operating income anywhere in the schedule and the whole return is capital movement less costs.
- Gross yield
- Gross annual rent ÷ purchase price. Before every cost. Where handover is in the future this is a stabilised full year from handover — a rate on the price, not a figure reduced by the construction period. The schedule shows what each year actually books.
- Net yield
- (Rent collected after the vacancy allowance − maintenance and management − service charge) ÷ purchase price. Stabilised on the same basis as the gross yield.
- Rent growth
- Compound annual movement in gross rent, applied from handover and stepping at each anniversary of it, which is when a tenancy renews. It may be negative. It does not touch the service charge, which is held flat in nominal terms.
- ROI
- Total profit over the whole hold ÷ total cash invested (price + all acquisition costs). Unlevered. Not an annual rate.
- ROE
- Total profit over the whole hold ÷ equity contributed (deposit + all acquisition and finance costs), after debt service. Levered. Not an annual rate.
- Cash-on-cash return
- Year-one operating cash flow, after debt service where there is a mortgage, ÷ cash invested. Reported separately from ROI/ROE and never merged with it. Year one means the first year of the schedule as it stands: where that year falls before handover it carries no rent, so on a mortgaged off-plan purchase the figure is negative — that is the year you fund out of pocket, and it is shown rather than smoothed away.
- IRR
- The annualised rate that discounts the dated cash-flow schedule above to a net present value of zero, solved numerically. Where the schedule has no sign change, or the solver does not converge on a single meaningful rate, we print “—” rather than substitute a simpler annualised-return figure.
An illustrative model, not a forecast, a valuation, an offer or investment advice. Every figure is generated from the assumptions on this page — some yours, the rest stated defaults, not promises. Rents, service charges, fees, vacancy, handover dates, financing terms and sale prices vary by unit and over time; past prices are not a guide to future prices. Returns are not guaranteed and capital is at risk.
Mortgage availability, loan-to-value, rate and term are subject to lender criteria and underwriting; nothing here indicates that finance will be offered. Figures exclude any tax payable in your country of residence — take independent financial, tax and legal advice before committing. Mitchell's Commercial Real Estate is a trading brand; the RERA-licensed broker is Stephen James Mitchell, BRN 68593.


