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Payment breakdown

UNIT PRICE

AED 1,740,000

PAYMENTS ON TRANSFER

1. Payment to seller	AED 480,177
2. DLD Transfer fee 4% + 40 AED	AED 69,640
3. DLD Registration Trustee fee + 5%VAT	AED 5,250
4. Buyer's agent commission 2% + 5%VAT	AED 36,540

PAYMENT PLAN SCHEDULE

On or Before 240 Days	AED 89,991
On or Before 360 Days	AED 89,991
On completion of thirty percent (30%) construction of the Project	AED 89,991
On completion of forty percent (40%) construction of the Project	AED 89,991
On completion of fifty percent (50%) construction of the Project	AED 89,991
On completion of sixty percent (60%) construction of the Project	AED 89,991
On completion of construction of the Project	AED 719,877

SUMMARY

Total on Transfer	AED 591,607
Total remaining Payment Plan	AED 1,259,823
TOTAL COST FOR BUYER	AED 1,851,430

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Distress Deal

PROJECT DESCRIPTION

OVERVIEW

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.

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. As always, careful review of the payment schedule, developer track record, and area masterplan is advised before commitment.

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.

Listed

21 May 2026

The date this listing was added to our records. The asking price below is the one published then, and was still 74 days old when we last checked this listing on 3 August 2026. It is not re-checked against the market automatically, so confirm it with us before relying on it.

Below original price

7.0%

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.

Asking price per sq.ft

AED 2,057/sqft

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.

Handover

Q3 2027

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.

Purchase

Purchase price

Seeded from this page — change it to your figure.

Unit size

Drives the service charge only.

Time to handover

Rent and service charge both start here.

Holding & income

Gross annual rent

Your figure — we have not assumed one.

Rent growth

0% holds rent flat. It may be negative.

Vacancy allowance

8% is roughly a month plus re-letting.

Maintenance & management

Letting fees and routine repairs.

Service charge

Replace with the building's own schedule.

Acquisition costs

DLD transfer fee

4% is the Dubai standard.

Agency fee

Buyer-side. 5% VAT added.

Conveyancing, trustee & admin

Trustee, title deed, NOC.

Exit

Holding period

1 to 40 years.

Exit price growth

0% by default: we publish no price forecasts.

Sale agency fee

5% VAT added automatically.

Total cash investedThe purchase price plus every cost of getting the keys. It is the denominator of the ROI, ROE and IRR figures.

AED 1.86M

Price plus every acquisition cost

Illustrative exit price

AED 1.74M

After 5 yr at 0.0% p.a.

Total profit, capital onlyCapital movement over the hold, less every purchase and sale cost and the service charge. It carries no rental income at all, because no rent has been set.

−AED 229k

No rent set — costs and capital only

Net yieldNet operating income (rent collected less management, maintenance and service charge) divided by the purchase price. It cannot be calculated until a gross annual rent is set.

—

Set a gross annual rent

Cash out, and cash back over 5 years

Cash out at t0AED 1,856,140

Cash back, years 1–5AED 1,627,320

Cash back is below cash out on these assumptions: over the whole hold this purchase returns less than it costs. Read the sensitivity table before drawing a conclusion.

Cash required at completion

Purchase priceAED 1,740,000

DLD transfer fee (4%)AED 69,600

Agency fee (2%)AED 34,800

VAT on agency fee (5%)AED 1,740

Conveyancing, trustee & adminAED 10,000

Total cash investedAED 1,856,140

This is the ROI and IRR denominator: the price plus every cost of getting the keys, not the price alone.

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.

Annual operating position

Gross annual rentAED 0

Vacancy allowance (8%)AED 0

Maintenance & managementAED 0

Service charge (846 sq ft at AED 18/sq ft)−AED 15,228

Net operating income−AED 15,228

Cash-flow schedule — the 5-year figures the IRR is solved from

Year	Net operating income	Sale proceeds, net	Net cash flow
0 · today	—	—	−AED 1,856,140
1	−AED 15,228	—	−AED 15,228
2	−AED 15,228	—	−AED 15,228
3	−AED 15,228	—	−AED 15,228
4	−AED 15,228	—	−AED 15,228
5	−AED 15,228	AED 1,703,460	AED 1,688,232
Years 1–5	−AED 76,140	AED 1,703,460	AED 1,627,320
Less the year-0 outflow of AED 1,856,140 → total profit			−AED 228,820

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.

Sensitivity — the same purchase at −5% to +5% exit growth

Exit growth	Exit price	Total profit	ROI	IRR
−5% p.a.	AED 1.35M	−AED 614k	—	—
−3% p.a.	AED 1.49M	−AED 469k	—	—
0% p.a.your figure	AED 1.74M	−AED 229k	—	—
3% p.a.	AED 2.02M	AED 42k	—	—
5% p.a.	AED 2.22M	AED 242k	—	—

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.

How each figure is calculated

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.

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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 Realty is a trading brand; the RERA-licensed entity is The Luxury Real Estate Brokers LLC.

Location

BELMORE RESIDENCE — Meydan, Dubai

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DISTRESS DEAL: 1-BR IN BELMORE RESIDENCE

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