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PAYMENT PLAN
UNIT PRICE | AED 3,200,000 |
PAYMENTS ON TRANSFER
1. Payment to seller | AED 842,479 |
2. DLD Transfer fee 4% + 40 AED | AED 128,040 |
3. DLD Registration Trustee fee + 5% VAT | AED 5,250 |
4. Buyer's agent commission 2% + 5% VAT | AED 67,200 |
PAYMENT PLAN SCHEDULE
3-JUN-2026 | AED 336,789 |
4-FEB-2027 | AED 336,789 |
18-OCT-2027 | AED 336,789 |
18-MAR-2028 | AED 336,789 |
17-OCT-2028 | AED 336,789 |
31-JUL-2029 | AED 673,576 |
SUMMARY
Total on Transfer | AED 1,042,969 |
Total remaining Payment Plan | AED 2,357,521 |
TOTAL COST FOR BUYER | AED 3,400,490 |
EXECUTIVE SUMMARY
Investment Opportunity in Altan
This is a distress deal featuring a two-bedroom asset in the Altan project.
Asking Price: AED 3,200,000
Original Price: AED 3,502,719
Property Size: 1,453 sq.ft
Discount Offered: 8.6%
The asking price reflects a strategic price point, providing an opportunity for capital appreciation.
Price per sq. ft.: AED 2202.06
This distressed asset might offer investors a competitive yield against other properties in a similar segment.
PROJECT DESCRIPTION
Overview
Altan Tower is a 58-storey residential skyscraper under development within the Green Gate district of Dubai Creek Harbour, Dubai. The project is being developed by Emaar Properties through its Dubai Creek Harbour subsidiary and is planned to deliver an estimated 479 residential units. The building will comprise primarily one-, two-, and three-bedroom apartments alongside a limited number of villas, forming part of a broader mixed-use waterfront master community located along Dubai Creek. The development was launched with prices starting from AED 1,810,000 and is scheduled for completion in July 2029. The structure reflects contemporary high-rise residential construction typical of new-build inventory within Dubai Creek Harbour, with a focus on vertical living integrated into a waterfront urban environment.
Location and Urban Context
Altan Tower is situated in Green Gate, a precinct within Dubai Creek Harbour, a large-scale master development positioned along the historic Dubai Creek. The wider community is designed as a mixed-use environment incorporating residential, retail, hospitality and leisure components. Dubai Creek Harbour is located to the east of Downtown Dubai and south of Dubai Festival City, forming part of the Al Khairan First area. The development benefits from proximity to waterfront promenades, landscaped parks and planned commercial zones. Nearby communities include Dubai Festival City at approximately 1.8 kilometres, Al Jaddaf at 2.9 kilometres, and Culture Village at around 3.0 kilometres. The surrounding area is characterised by ongoing urban expansion and infrastructure development aligned with Dubai's long-term growth strategy.
Transport and Connectivity
Road connectivity from Altan Tower is primarily facilitated via Ras Al Khor Road and Al Khail Road, linking residents to major commercial and residential hubs across Dubai. Travel times by car are approximately 17 minutes to Dubai Mall, 30 minutes to Palm Jumeirah, 28 minutes to Burj Al Arab and 34 minutes to The Walk at JBR, subject to traffic conditions. Dubai International Airport is located approximately 16 minutes away, while Al Maktoum International Airport is situated around 46 minutes from the site. Public transport infrastructure in Dubai Creek Harbour is still evolving, with planned metro and water transport connections intended to enhance long-term accessibility.
Building Specifications and Amenities
The tower is designed as a high-density residential building with a vertical configuration typical of modern Dubai developments. Amenities include barbecue facilities, co-working spaces, landscaped lawns, indoor and outdoor gyms, a padel tennis court, a pool deck, sunken seating areas, a swimming pool and designated yoga and meditation zones. Interior specifications across units include high-ceiling lobbies, fitted kitchens with cabinetry and worktops, built-in wardrobes in bedrooms and contemporary bathroom fixtures. These specifications align with current standards in mid- to upper-tier residential developments within Dubai Creek Harbour.
Market Position and Distressed Asset Classification
Within the current market context, select units within Altan Tower can be classified as a distressed asset due to below-market pricing relative to comparable properties in Dubai Creek Harbour and other waterfront developments. This classification reflects pricing conditions rather than physical characteristics of the property, indicating potential value discrepancies influenced by seller circumstances, liquidity requirements or broader market fluctuations. Distressed asset pricing may present measurable differences when compared to prevailing transaction benchmarks recorded by the Dubai Land Department.
Transaction Data and Pricing Indicators
Recent transaction records published by the Dubai Land Department indicate that unit sales within Altan Tower have taken place in the range of approximately AED 1.8 million to AED 4.1 million, depending on unit size and layout. Price per square foot values have been recorded in the range of approximately AED 2,300 to AED 2,700 per square foot. These figures provide a reference for market positioning relative to similar off-plan transactions within Dubai Creek Harbour. The availability of transaction data supports transparency and enables comparative analysis across the development and surrounding communities.
Nearby Infrastructure and Landmarks
The development is located in close proximity to multiple established and emerging landmarks. Retail and leisure destinations include Dubai Festival City Mall, which offers shopping, dining and entertainment facilities including cinemas. Cultural attractions within a short distance include Jameel Arts Centre and Ras Al Khor Wildlife Sanctuary, which provide recreational and environmental amenities. Nearby parks include Creek Island Central Park and Creekside Park within Dubai Creek Harbour, contributing to the area's open space infrastructure. Golf facilities such as Al Badia Golf Club and Dubai Creek Golf and Yacht Club are also accessible within a short driving distance.
Education and Community Services
Altan Tower is located near several educational institutions, including Deira International School at approximately 1.8 kilometres and Universal American School at around 2.2 kilometres. Both schools have achieved high inspection ratings, with Deira International School rated outstanding and Universal American School rated very good. Additional institutions such as the Swiss International Scientific School are located within a short drive. Healthcare services and community facilities are accessible within nearby districts including Healthcare City Phase 2 and Al Garhoud.
Hospitality and Leisure Proximity
The surrounding area includes multiple hospitality developments such as Vida Creek Beach, Palace Dubai Creek Harbour and Vida Creek Harbour, all located within approximately 1.2 kilometres of the site. These hotels provide dining, leisure and hospitality services that contribute to the mixed-use nature of the district. Additional hotels in Dubai Festival City and Al Jaddaf expand the available hospitality infrastructure, reinforcing the area's role as a combined residential and leisure destination.
Development Timeline and Investment Context
The project commenced initial stages in March 2025 and is expected to reach completion by July 2029. The total project value is estimated at approximately AED 521,116,000 according to submissions made to the Dubai Land Department. The development forms part of Emaar's ongoing expansion within Dubai Creek Harbour, which includes residential towers, retail zones and hospitality assets. As an off-plan residential tower within a master-planned waterfront district, Altan Tower contributes to the broader supply pipeline of Dubai's residential market and reflects continued investment in large-scale urban developments across the emirate.