This is a 1-bedroom apartment opportunity in Bluewaters Bay – Tower 2, developed by Meraas on the sought-after Bluewaters Island. The apartment offers a practical 800 sq.ft of internal space, positioned between the 3rd and 10th floors, and boasts full marina and sea views with a balcony. The current asking price stands at AED 2,660,000, representing a 5% discount from the original price of AED 2,800,720. This is notably below the prevailing market price, which is estimated at around AED 3,000,000 for similar units in this development. The price per square foot is AED 3,325, which is competitive for this location and asset class. The payment structure includes AED 2,288,950 due on transfer and a remaining payment plan of AED 538,600, bringing the total buyer cost to AED 2,827,550. With handover scheduled for June 2027, this property presents a timely entry point for investors seeking value in a prime waterfront project with strong rental and resale fundamentals.
BLUEWATERS BAY - TOWER 2 · Bluewaters Island1 / 2Meraas · Bluewaters Island
DISTRESS DEAL: 1-BR IN BLUEWATERS BAY - TOWER 2
- Unit
- 1-BR
- Size
- 800 sq.ft
- Developer
- Meraas
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
This unit has sold. The page is kept as a record of a deal we transacted. Every figure on it — the asking price, the discount to original price and the payment schedule — is the position as listed on 23 July 2026 and is historic. It is not an indication of what the same unit, or a comparable one, would cost today.
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The numbers
Payment breakdown
- Payment to sellerAED 2,121,400
- DLD Transfer fee 4% + 40 AEDAED 106,440
- DLD Registration Trustee fee + 5%VATAED 5,250
- Buyer's agent comission 2% + 5%VATAED 55,860
- Total on transferAED 2,288,950
- On Handover (15-JUL-2027)AED 538,600
- Total remaining payment planAED 538,600
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Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Bluewaters Island is a landmark destination just off the coast of Jumeirah Beach Residence (JBR), connected to the mainland by a dedicated road bridge and pedestrian walkway. The island’s proximity to Dubai Marina ensures excellent connectivity, with Sheikh Zayed Road less than five minutes away by car. Public transport options include regular taxi and ride-hailing services, as well as the Dubai Tram and Metro stations located a short drive away in JBR and Marina. For residents and tenants, the location offers easy access to key business districts such as Dubai Media City and JLT, both within a 10-15 minute drive. Dubai International Airport is approximately 30 minutes by car, while Al Maktoum International Airport is accessible within 40 minutes. The island’s walkability and direct pedestrian links to The Beach at JBR further enhance its appeal for both end-users and short-term rental guests.
AMENITIES & SURROUNDING
Residents of Bluewaters Bay Tower 2 benefit from a comprehensive suite of amenities shared across the development. These include an infinity pool with panoramic views, a modern fitness centre, landscaped communal gardens, a dedicated children’s play area, and a tennis court. The building’s design prioritises both privacy and community, with secure access and high-quality common areas. The immediate neighbourhood features a vibrant mix of retail, dining, and leisure options, including the iconic Ain Dubai observation wheel, Madame Tussauds, and a variety of beachfront restaurants and cafes. Several five-star hotels are within walking distance, offering additional dining and wellness facilities. For families, there are reputable schools such as Emirates International School Meadows and Dubai British School Jumeirah Park within a short drive. The area is also well-served by parks, beaches, cinemas, and golf clubs, making it a well-rounded lifestyle destination.
MARKET
Bluewaters Bay has established itself as a premium waterfront address, appealing to both investors and end-users. The current offering is priced below both the original and prevailing market rates, which supports a value-driven investment thesis. One-bedroom apartments in this area are in consistent demand for both long-term and short-term rentals, driven by the location’s connectivity, amenities, and leisure attractions. Liquidity for similar units has historically been strong, with a buyer profile that includes professionals, expatriate families, and international investors seeking Dubai’s waterfront lifestyle. Key risk considerations include the handover timeline (June 2027) and the broader market’s sensitivity to new supply in the luxury and upper mid-tier segments. However, Bluewaters Island’s limited land and unique positioning tend to support price resilience. Investors should also consider the payment plan structure and associated costs when evaluating yield and exit strategies.
CONCLUSION
For investors seeking a well-located, waterfront asset with strong rental and resale prospects, this 1-bedroom apartment in Bluewaters Bay Tower 2 presents a compelling case. The current discount to both original and market prices provides a margin of safety, while the project’s amenities and location underpin ongoing demand. The handover in 2027 allows for capital appreciation potential as the area matures and infrastructure is further enhanced. While the payment plan and off-plan nature introduce some risk, the fundamentals of Bluewaters Island and the developer’s track record offer reassurance. This opportunity suits investors with a medium-term horizon looking for a balance of yield, liquidity, and capital growth in one of Dubai’s most recognised waterfront communities.
Location
BLUEWATERS BAY - TOWER 2 — Bluewaters Island, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 1-BR IN BLUEWATERS BAY - TOWER 2 behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
Enter the asking price to run the model.
Every figure recalculates as you type. Use the price you are considering.
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.
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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