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PAYMENT PLAN
UNIT PRICE | AED 7,500,000 |
PAYMENTS ON TRANSFER
1. Payment to seller | AED 3,480,086 |
2. DLD Transfer fee 4% + 40 AED | AED 300,040 |
3. DLD Registration Trustee fee + 5%VAT | AED 5,250 |
4. Buyer's agent comission 2% + 5%VAT | AED 157,500 |
PAYMENT PLAN SCHEDULE
On completion of 70% Construction of The Project | AED 401,991 |
On Handover | AED 3,617,923 |
SUMMARY
Total on Transfer | AED 3,942,876 |
Total remaining Payment Plan | AED 4,019,914 |
TOTAL COST FOR BUYER | AED 7,962,790 |
PROJECT DESCRIPTION
OVERVIEW
This 2-br in Ocean House is being offered as a Distress Deal at AED 7,500,000. Against the AED 8,361,600 original price plus DLD basis, the current pricing shows a 10.3% below original price discount. The unit is by Ellington, recorded at 1,643 sqft, and carries a stated handover of Q4 2026. That combination matters because it gives the buyer a live basis to underwrite today rather than a vague launch narrative: the deal has to stand on the numbers, the product type and the remaining run-in to completion.
LOCATION & TRANSPORT
Ocean House sits on Palm Jumeirah, one of Dubai's most recognisable waterfront districts and one of the few submarkets where buyer demand is driven as much by address prestige as by pure square-foot maths. Transport is car-led, but the practical catchment includes West Beach, Nakheel Mall, Palm trunk connectivity and quick links to Dubai Marina, Media City and Sheikh Zayed Road.
AMENITIES & SURROUNDING
Ellington's positioning is important here because Ocean House is not generic Palm stock. The scheme targets a design-led luxury buyer with boutique branding, curated shared spaces and a lower-density feel than many high-rise waterfront alternatives. That surrounding proposition matters because the pool of likely buyers is narrower, more quality-sensitive and more willing to pay for product character when it is executed well.
MARKET
At AED 4,565 per sq.ft on 1,643 sq.ft, this listing sits in the premium Palm apartment bracket, where comparison sets need to be chosen carefully. Buyers are not benchmarking it against ordinary city apartments but against a limited range of branded or design-led waterfront residences where privacy, architecture and position drive pricing. The 10.3% discount is therefore meaningful: it improves the entry basis into a scarce micro-market without changing the underlying quality of the address. With handover in Q4 2026, the remaining execution window is also relatively short by off-plan standards. Buyers should also compare the current basis against the strongest competing stock in the same district before allowing for transfer costs, payment-plan exposure and the likely depth of end-user demand at handover. Buyers should also compare the current basis against the strongest competing stock in the same district before allowing for transfer costs, payment-plan exposure and the likely depth of end-user demand at handover.
CONCLUSION
This Ocean House Distress Deal is appealing because it combines a trophy waterfront location with a better-than-launch entry point. For a Palm buyer already considering luxury apartment stock, AED 7,500,000 for 1,643 sq.ft at a 10.3% discount is the sort of basis that deserves serious comparison against both secondary and developer inventory before the final handover phase.