This 1-bedroom apartment in Belmore Residence, Meydan, is offered as a distress deal at AED 1,740,000. The original price plus DLD was AED 1,871,821, so the current entry point reflects a 7% discount, or AED 131,821 below the original reference. The unit measures 846 sq.ft, equating to AED 2,057 per sq.ft. This is a mid-to-high floor apartment (levels 15–20) with a balcony and amenities view, and handover is scheduled for Q3 2027. The immediate investment case is a below-market entry into a new Ellington development, with a payment plan structure that allows for staged capital outlay through construction. The buyer is not exposed to immediate vacancy risk, but is taking a position on the Meydan off-plan market, with the discount providing a buffer against future price volatility or construction risk.
BELMORE RESIDENCE · MeydanEllington · Meydan
DISTRESS DEAL: 1-BR IN BELMORE RESIDENCE
- Unit
- 1-BR
- Size
- 846 sq.ft
- Developer
- Ellington
- Handover
- Q3 2027
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available when we last checked on 17 September 2026. The asking price shown is the one published when the listing was added on 21 May 2026, 119 days before that check, and it is not re-checked against the market automatically. A listing this old should be treated as indicative — confirm with us that it is still available and still at this price before you act on it.
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The numbers
Payment breakdown
- Payment to sellerAED 480,177
- DLD Transfer fee (4% of OP + 40 AED)AED 72,033
- DLD Registration Trustee fee + 5%VATAED 5,250
- Buyer's agent commission 2% + 5%VATAED 36,540
- Total on transferAED 594,000
- On or Before 240 DaysAED 89,991
- On or Before 360 DaysAED 89,991
- On completion of thirty percent (30%) construction of the ProjectAED 89,991
- On completion of forty percent (40%) construction of the ProjectAED 89,991
- On completion of fifty percent (50%) construction of the ProjectAED 89,991
- On completion of sixty percent (60%) construction of the ProjectAED 89,991
- On completion of construction of the ProjectAED 719,877
- Total remaining payment planAED 1,259,823
Ask us to walk through this schedule, or to confirm the current balance with the developer before terms are agreed.
Ask about these termsLayout
Floor plan
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Belmore Residence is located in Meydan Horizon, within the wider Mohammed Bin Rashid City (MBR City) corridor. This area is positioned for access to Downtown Dubai, Business Bay, and Dubai International Airport, with Al Khail Road and Ras Al Khor Road forming the main arterial routes. Public transport in Meydan is still developing, so private car or ride-hailing services are the primary modes for residents. For investors, the Meydan location is relevant because it sits within a growth corridor, with ongoing infrastructure upgrades and new retail, leisure, and hospitality projects planned or underway. The area’s proximity to Ras Al Khor Wildlife Sanctuary and the Dubai Canal adds a lifestyle dimension, while the road network supports connectivity to established business and leisure districts. This underpins both rental demand and future resale prospects, provided the area’s masterplan continues to mature as projected.
AMENITIES & SURROUNDING
Belmore Residence is a 32-storey residential tower by Ellington, designed with a focus on contemporary living and community amenities. Residents will have access to a range of facilities, including an adults-only pool, children’s pool, gym, yoga and meditation areas, sauna, steam room, clubhouse, co-working spaces, and a rooftop club lounge with outdoor cinema. The building’s lobby features a grand reception, lounge areas, and retail spaces on the ground floor, including boutique shops and gourmet cafes. The children’s play area is themed and designed for active use. The wider Meydan Horizon district is planned to include landscaped parks, walking trails, and local retail, with established supermarkets, schools, and healthcare facilities available in the surrounding MBR City and Nad Al Sheba areas. The amenity mix is designed to appeal to both end-users and tenants seeking a modern, service-led residential environment.
MARKET
At AED 2,057 per sq.ft, this unit is priced below recent off-plan transactions in Belmore Residence, where 1-bedroom units have traded between AED 2,049 and AED 2,318 per sq.ft in 2026. The current deal sits at a visible discount to the most recent sales, and the payment plan structure may appeal to buyers seeking to stagger their capital commitment. The Meydan off-plan market is competitive, with multiple projects by established developers, so liquidity and rentability will depend on the pace of area development and the eventual delivery quality. Ellington’s brand is generally associated with design-led, mid-to-upmarket product, which can support both rental yields and resale demand, but the area’s overall supply pipeline and the timing of infrastructure delivery are key risk points. The buyer profile is likely to be a mix of investors seeking capital appreciation and end-users attracted by the amenity offering and payment flexibility. The main underwriting question is whether the 7% discount is sufficient to offset construction risk and the potential for further supply-driven price pressure in the Meydan corridor.
CONCLUSION
This distress deal offers a clear entry discount into a new Ellington project in a growth area, with a staged payment plan and a mid-to-high floor position. The pricing is below both the original reference and recent transaction levels, providing a buffer against market and delivery risk. The main considerations are the pace of Meydan’s infrastructure rollout, the competitive supply environment, and the typical risks associated with off-plan acquisitions. For investors comfortable with these dynamics, the deal provides a disciplined way to access a design-led product with a lower entry basis and payment flexibility. The case is strongest for buyers seeking medium-term capital appreciation or rental positioning in a maturing Dubai corridor, rather than immediate income or end-use.
Location
BELMORE RESIDENCE — Meydan, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 1-BR IN BELMORE RESIDENCE behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
The date this listing was added to our records. The asking price below is the one published then, and was still 119 days old when we last checked this listing on 17 September 2026. It is not re-checked against the market automatically, so confirm it with us before relying on it.
As stated on this listing: the asking price measured against the original purchase price recorded for this unit. It is not a discount to current market value and not a valuation — a unit priced below what it originally sold for may still be at or above what comparable units achieve today. Check the registered comparables before treating the gap as equity. It is not used in any calculation below.
The asking price divided by the stated size. Compare it against registered sales in the same building before deciding whether the asking price is competitive.
As stated on this listing. Rent cannot start before handover, so on an incomplete unit the early years of the schedule below are holding cost only.
Set service charge, maintenance & management, vacancy allowance above to see cash back — until then this figure would be assuming zero for them.
ROI and IRR are calculated on this figure: the price plus every cost of getting the keys.
No rental evidence is held for this unit. The rent figure is yours to set — we have not assumed one. Until you enter a gross annual rent, the yield, ROI/ROE and IRR figures reflect capital movement and costs only.
Figures marked “—” need service charge, maintenance & management, vacancy allowance entered above — we do not compute them on an assumed zero.
Cash-flow schedule — the 5-year figures the IRR is solved from (incomplete, see note)
| Year | Net operating income | Sale proceeds, net | Net cash flow |
|---|---|---|---|
| 0 · today | — | — | −AED 1,846,140 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 1,703,460 | AED 1,703,460 |
| Years 1–5 | AED 0 | AED 1,703,460 | AED 1,703,460 |
| Less the year-0 outflow of AED 1,846,140 → total profit | −AED 142,680 | ||
Exit at year 5: illustrative sale price AED 1,740,000 less selling costs AED 36,540 = AED 1,703,460 net. The final column is the schedule the IRR is solved from. Rent is held flat in nominal terms — the rent-growth field is at 0% — as is the service charge, so no inflation is assumed on either side. This audit table is arithmetic, so every row must resolve to a number — but service charge, maintenance & management, vacancy allowance are not set above, and the figures here currently assume zero for them. Nothing on this table should be read as a result until you set them; the headline tiles above withhold theirs for exactly this reason.
Sensitivity — the same purchase at −5% to +5% exit growth
| Exit growth | Exit price | Total profit | ROI | IRR |
|---|---|---|---|---|
| −5% p.a. | AED 1.35M | — | — | — |
| −3% p.a. | AED 1.49M | — | — | — |
| 0% p.a.your figure | AED 1.74M | — | — | — |
| 3% p.a. | AED 2.02M | — | — | — |
| 5% p.a. | AED 2.22M | — | — | — |
Each row re-runs the whole model with only the exit growth rate changed, over the same 5-year hold. The 0% and negative rows are not a worst case — they are simply what the same purchase returns if prices do not rise. Dubai prices have fallen in the past and can fall again. The return columns are shown as “—” until a gross annual rent is set; the total profit column reflects capital movement, purchase and sale costs and the service charge only.
Method
- 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.
Email my results
We’ll send this scenario — your assumptions and the figures they produce — to your inbox.
Set service charge, maintenance & management, vacancy allowance above and we can email you this scenario. Until then every headline figure reads “—”, because the model would otherwise be assuming zero for them — and we publish no figure for them.
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.
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