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PAYMENT PLAN
UNIT PRICE | AED 46,000,000 |
PAYMENTS ON TRANSFER
1. Payment to seller | AED 35,300,000 |
2. DLD Transfer fee 4% + 40 AED | AED 1,840,040 |
3. DLD Registration Trustee fee + 5% VAT | AED 5,250 |
4. Buyer's agent commission 2% + 5% VAT | AED 966,000 |
PAYMENT PLAN SCHEDULE
On Handover | AED 10,700,000 |
SUMMARY
Total on Transfer | AED 38,111,290 |
Total remaining Payment Plan | AED 10,700,000 |
TOTAL COST FOR BUYER | AED 48,811,290 |
EXECUTIVE SUMMARY
Investment Analysis: Distress Deal in Como Residences
Project: Full-Floor in Como Residences
The current asking price is AED 46,000,000, reflecting a discount from the original price of AED 55,952,000. The property size is 9,297 sq. ft.
Pricing Details:
Price per sq. ft.: AED 4946.01
This distressed asset offers potential for capital appreciation given the significant reduction of 17.8% from the original pricing. Investors should consider the yield opportunities given the price per square foot in comparison to market trends.
PROJECT DESCRIPTION
Overview
Como Residences is a 75-storey residential building under development on Palm Jumeirah, Dubai. The tower is positioned within one of the emirate’s most established waterfront master communities, developed by Nakheel through its subsidiary The Palm Jumeirah Company. Construction commenced in September 2023 and the project is scheduled for completion in Q2 2028, following a revision from the earlier projected handover date of Q3 2027. The development rises to approximately 300 metres in height and is classified as a supertall skyscraper within Dubai’s residential segment. The building will comprise an estimated 76 residential units arranged across a limited number of floors, reflecting a low-density vertical configuration when compared to typical high-rise developments in the city.
Location and Surroundings
Como Residences is located on Palm Jumeirah, an artificial archipelago extending into the Arabian Gulf from Dubai’s coastline. The Palm is connected to the mainland via Sheikh Zayed Road and Al Sufouh Road, providing direct vehicular access to key districts such as Dubai Marina, Al Sufouh, and Dubai Media City. The immediate surroundings include a mix of beachfront residential buildings, hotels, and leisure venues, particularly along Palm West Beach. The development site is within proximity to several hospitality developments including Fairmont The Palm, Marriott Resort Palm Jumeirah, and Radisson Beach Resort Palm Jumeirah, all located within approximately 0.5 kilometres. Nearby attractions include The View at The Palm at 0.6 kilometres, Skydive Dubai at approximately 2.5 kilometres, and Marina Walk at roughly 2.9 kilometres.
Transport and Connectivity
Access to Como Residences is primarily car-dependent, consistent with the broader Palm Jumeirah infrastructure. Travel times by road indicate that Dubai Mall can be reached in approximately 18 minutes, Burj Al Arab in about 13 minutes, and The Walk at JBR in approximately 14 minutes. Palm Jumeirah itself is accessible within three minutes of internal travel. Dubai International Airport is located at an estimated 25-minute drive, while Al Maktoum International Airport can be reached in approximately 33 minutes under typical traffic conditions. Public transport options in the immediate area are limited, though the Palm Monorail provides connectivity along the trunk of the island, linking to mainland transport nodes.
Building Specifications and Design
The building has been designed with an architectural concept inspired by the form of an organic seashell, incorporating layered terraces across multiple floors. Lower levels include wide external decks, some featuring integrated swimming pools, both communal and private. Upper-level residences are configured to occupy large floor areas, with select units spanning multiple floors. The building includes a rooftop level on the 71st floor, which is intended to accommodate a viewing platform and a swimming pool. Units are designed to provide panoramic views ranging from 180 to 360 degrees, with sightlines extending across Palm Jumeirah, the Arabian Gulf, and Dubai’s coastal skyline.
Residential Units
Como Residences will consist of a mix of two-bedroom, three-bedroom, four-bedroom, five-bedroom and six-bedroom apartments, alongside duplexes and penthouses. The limited number of units across 75 storeys indicates a focus on large-format residential layouts. Each residence is expected to occupy a minimum of half a floor, resulting in reduced density relative to conventional high-rise developments. Apartments are planned to include integrated smart home systems as part of the standard specification. Private pools are included in selected units, while shared amenities are distributed throughout the tower.
Amenities and Facilities
The development will include a range of amenities distributed across multiple levels. These include a business centre, concierge services, lounge areas, and an expansive lobby. Recreational facilities will include several swimming pools, children’s splash pools, a lap pool, a squash court, and a padel tennis court. Additional provisions include children’s play areas, a cafe, and private lounges for residents. The integration of amenities within the building reflects a self-contained residential environment typical of high-end developments on Palm Jumeirah.
Infrastructure and Nearby Facilities
The surrounding area offers access to a range of educational institutions, including Dubai College located approximately 2.4 kilometres away and The International School of Choueifat Dubai at 2.7 kilometres. Additional schools such as GEMS Dubai American Academy and Regent International School are situated within a 4-kilometre radius. Healthcare facilities, retail outlets, and dining venues are concentrated within Palm Jumeirah and adjacent districts such as Dubai Marina and Al Sufouh. Nearby beaches include Sufouh Beach at approximately 2.3 kilometres and Marina Beach at around 4.0 kilometres. Emirates Golf Club is located approximately 3.3 kilometres from the development.
Market Position and Transactions
Transaction data from the Dubai Land Department indicates multiple high-value pre-registration sales within Como Residences, with unit prices reaching tens of millions of dirhams depending on size and configuration. Recorded transactions include large-format apartments exceeding 5,000 square feet, with price per square foot figures in the upper segment of the Dubai residential market. A penthouse sale within the development reached AED 500 million, establishing a benchmark transaction in the city’s residential sector at the time of recording.
Investment Context
Within the broader Palm Jumeirah market, Como Residences is positioned among a limited selection of low-density, vertically integrated residential towers. The pricing structure of individual units reflects both location and scarcity of supply. Certain units within the development may be classified as distressed assets where pricing falls below prevailing market levels relative to comparable inventory. This classification typically arises from specific transactional circumstances and does not necessarily reflect the overall pricing trend of the project.
Development Team and Construction
The project is being developed by Nakheel, one of Dubai’s primary master developers responsible for Palm Jumeirah. The main construction contract has been awarded to ALEC Engineering and Contracting, a contractor with a portfolio of large-scale developments across the UAE. The project has an estimated development value of approximately AED 1.206 billion based on initial submissions to the Dubai Land Department, though final costs may vary upon completion.
Conclusion
Como Residences represents a supertall residential development within Palm Jumeirah, combining a low-density unit structure with high-rise vertical design. Its location offers direct access to Dubai’s coastal districts, supported by road infrastructure and proximity to major landmarks. The development integrates residential, leisure, and lifestyle components within a single structure, contributing to the ongoing expansion of high-rise residential inventory on Palm Jumeirah.