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PAYMENT PLAN
UNIT PRICE | AED 3,600,000 |
PAYMENTS ON TRANSFER
1. Payment to seller | AED 1,550,150 |
2. DLD Transfer fee 4% + 40 AED | AED 144,040 |
3. DLD Registration Trustee fee + 5% VAT | AED 5,250 |
4. Buyer's agent commission 2% + 5% VAT | AED 75,600 |
PAYMENT PLAN SCHEDULE
15-JUL-2026 | AED 372,700 |
15-NOV-2026 | AED 372,700 |
15-MAR-2027 | AED 186,350 |
On Handover (15-NOV-2028) | AED 1,118,100 |
SUMMARY
Total on Transfer | AED 1,775,040 |
Total remaining Payment Plan | AED 2,049,850 |
TOTAL COST FOR BUYER | AED 3,824,890 |
PROJECT DESCRIPTION
OVERVIEW
This 2-bedroom plus maid's apartment in Bay Grove Residences is being queued as a new Distress Deal at AED 3,600,000. Against the AED 3,876,000 original price plus DLD, the current price shows a 7.1% discount and a saving of AED 276,000. The unit measures 1,601 sq.ft, sits on the 8+ floor band, and is listed as a corner apartment with sea view, balcony and semi-furnished status. Handover is listed for Q4 2028, with Nakheel as developer.
LOCATION & TRANSPORT
Bay Grove Residences is planned for Dubai Islands in Deira, giving the unit exposure to Dubai's northern waterfront redevelopment rather than the older central apartment districts. Propsearch records the project within Dubai Islands, with road access back toward Deira, Palm Deira and the wider Dubai road network. The location is best suited to buyers who want a waterfront lifestyle position and are comfortable with a district that is still maturing around infrastructure, retail, hospitality and beach activation.
AMENITIES & SURROUNDING
Propsearch describes Bay Grove Residences as a multi-building Nakheel complex made up of four buildings, with the project launched around a 20% booking, 50% construction and 30% handover payment structure. The listing details identifies this unit as an apartment corner unit with sea view and balcony. Nakheel's own positioning highlights a beachfront lifestyle, spacious terraces, landscaped surroundings, clubhouse and residents' lounge, which makes the amenity story central to the buyer appeal.
MARKET
At AED 2,249 per sq.ft on 1,601 sq.ft, the entry price gives buyers a clear basis for comparing Bay Grove Residences against other Dubai Islands and waterfront off-plan inventory. The current asking price of AED 3,600,000 sits AED 276,000 below the original price plus DLD basis, while the remaining developer payment plan is AED 2,049,850. That leaves AED 1,550,150 payable to the seller before transfer costs, with total on-transfer costs of AED 1,775,040 and a total buyer cost of AED 3,824,890. The key investment question is whether the discount is enough compensation for a 2028 handover in an emerging waterfront district. The strongest buyer profile is likely someone who wants Nakheel beachfront exposure but still wants a measurable discount and a structured remaining payment plan.
CONCLUSION
This Bay Grove Residences Distress Deal offers a 1,601 sq.ft 2-bedroom plus maid corner apartment at AED 3,600,000, with sea view, balcony and a Q4 2028 handover profile. It is not a deep-discount distress sale, but it gives buyers a cleaner entry into a Nakheel waterfront project than the original price basis. For investors, the practical appeal is the combination of larger layout, sea-view positioning, Dubai Islands growth potential and a payment plan where most of the remaining exposure is still with the developer.