This one-bedroom corner apartment in Evergr1n House, Jumeirah Garden City, is offered at AED 1,780,000. The source records an original price plus the 4% DLD fee of AED 2,303,794, so the asking figure sits AED 523,794, or 22.7%, below original price. The apartment measures 910 sq.ft of built-up area, giving an entry basis of AED 1,956 per sq.ft on that built-up area. It has a community aspect, is a corner unit and carries a balcony. Handover is stated as Q4 2026 and the developer is Object 1. A 22.7% reduction on a near-complete building is an unusual combination.
Available
EVERGR1N HOUSE · Jumeirah Garden City
EVERGR1N HOUSE · Jumeirah Garden CityObject 1 · Jumeirah Garden City
DISTRESS DEAL: 1-BR IN EVERGR1N HOUSE
Asking priceAED 1,780,000AED 1,956 per sq.ft
Original price + DLDAED 2,303,794
DiscountAED 523,79422.7% below original price
- Unit
- 1-BR
- Size
- 910 sq.ft
- Developer
- Object 1
- Handover
- Q4 2026
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available
Listed 20 August 2026
Available when we last checked. The asking price shown is the one published when the listing was added on 20 August 2026, and it is not re-checked against the market automatically. Confirm availability and price with us before you act on it.
On this page
Quick navigation
The numbers
Payment breakdown
Total cost for buyerAED 1,911,277The unit price plus the transfer fees and commission — the whole commitment, not the headline.
Unit priceAED 1,780,000
Fees and commissionAED 131,277
Step 01Due at transferAED 803,683Payable when the unit transfers to the buyer.
- Payment to sellerAED 672,406
- DLD Transfer fee (4% of OP + 40 AED)AED 88,647
- Trustee Office FeeAED 5,250
- Buyer's Agency Commission (2% + VAT)AED 37,380
- Total on transferAED 803,683
Step 02Payable to Object 1 after transferAED 1,107,594The balance of the payment plan, which the buyer takes over.
- On HandoverAED 1,107,594
- Total remaining payment planAED 1,107,594
Ask us to walk through this schedule, or to confirm the current balance with the developer before terms are agreed.
Ask about these termsUnit details
- Property type
- Apartment
- View
- Community
Layout
Floor plan
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Jumeirah Garden City occupies the Al Satwa blocks between Sheikh Zayed Road and 2nd December Street, one of the most central pieces of ground in the city and one of the last to be redeveloped at scale. The position is its principal asset. The World Trade Centre and the Dubai International Financial Centre are immediately along Sheikh Zayed Road to the south-east, with Emirates Towers and World Trade Centre stations on the metro Red Line within reach on foot from parts of the district. City Walk lies directly across Al Wasl Road to the west and the Jumeirah public beaches are a short drive beyond it. Al Satwa's own street grid connects through to Bur Dubai and the creek quarter to the east. For a one-bedroom apartment aimed at professional occupancy, a walkable commute to the financial and exhibition districts is the single strongest support for tenant demand.
AMENITIES & SURROUNDING
Al Satwa is a long-established, densely occupied quarter with a working street economy of grocers, tailors, cafés, clinics and independent retail, and that existing fabric is what distinguishes Jumeirah Garden City from a newly built district with amenities still to arrive. City Walk's open-air retail and dining quarter, the Coca-Cola Arena and Box Park sit immediately to the west; Safa Park and the Dubai Water Canal walkways are a short distance south; and the Jumeirah beachfront and La Mer are within a few minutes by car. This apartment holds a corner position with a community aspect and its own balcony.
MARKET
The 22.7% reduction is measured against the original price plus the 4% DLD registration fee, the basis the source publishes, and it compares the asking figure with the first buyer's commitment rather than with current resale evidence. At AED 1,956 per sq.ft on built-up area, an entry basis under AED 2,000 for a central Satwa address is well below what the position would ordinarily command. The cash reduction of AED 523,794 on a sub-AED 1.8m asking price is a 22.7% discount against the original price, and with handover stated as Q4 2026 the remaining developer commitment is short. That combination, a large discount with little construction risk left, is the thing to verify carefully, and we will do exactly that.
CONCLUSION
This suits a buyer who wants a central, walkable Satwa address at an entry basis under AED 2,000 per sq.ft on built-up area, with occupation in 2026 rather than a multi-year wait. The corner position and the near-term handover are both in its favour. A 22.7% reduction so close to completion deserves proper diligence rather than enthusiasm: we will confirm the outstanding instalments, the seller's position, the transfer costs and the construction status before an offer is made.
Location
EVERGR1N HOUSE — Jumeirah Garden City, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 1-BR IN EVERGR1N HOUSE behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
Listed
20 August 2026
The date this listing was added to our records. The asking price below is the one published then, and is not re-checked against the market automatically — confirm it with us before relying on it.
Below original price
22.7%
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 1,956/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
Q4 2026
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.
Total cash investedThe purchase price plus every cost of getting the keys. It is the denominator of the ROI, ROE and IRR figures.
AED 1.89M
Price plus every acquisition cost
Illustrative exit price
AED 1.78M
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.
—
Set service charge, maintenance & management, vacancy allowance above
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
Set service charge, maintenance & management, vacancy allowance above to see cash back — until then this figure would be assuming zero for them.
Cash required at completion
Purchase priceAED 1,780,000
DLD transfer fee (4%)AED 71,200
Agency fee (2%)AED 35,600
VAT on agency fee (5%)AED 1,780
Conveyancing, trustee & adminAED 0
Total cash investedAED 1,888,580
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.
Annual operating position
Gross annual rentAED 0
Vacancy allowance (not set)—
Maintenance & management (not set)—
Service charge (910 sq ft at a rate not yet set)—
Net operating income—
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 1,888,580 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 1,742,620 | AED 1,742,620 |
| Years 1–5 | AED 0 | AED 1,742,620 | AED 1,742,620 |
| Less the year-0 outflow of AED 1,888,580 → total profit | −AED 145,960 | ||
Exit at year 5: illustrative sale price AED 1,780,000 less selling costs AED 37,380 = AED 1,742,620 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 1.38M | — | — | — |
| −3% p.a. | AED 1.53M | — | — | — |
| 0% p.a.your figure | AED 1.78M | — | — | — |
| 3% p.a. | AED 2.06M | — | — | — |
| 5% p.a. | AED 2.27M | — | — | — |
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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