Distress Deal
This unit has sold and is no longer available. 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 21 May 2026 and is historic. It is not an indication of what the same unit, or a comparable one, would cost today.
On this page
The numbers
| UNIT PRICE | AED 1,770,000 |
| 1. Payment to seller | AED 680,225 |
| 2. DLD Transfer fee 4% + 40 AED | AED 70,840 |
| 3. DLD Registration Trustee fee + 5%VAT | AED 5,250 |
| 4. Buyer's agent commission 2% + 5%VAT | AED 38,430 |
| 25-JUL-2026 | AED 217,955 |
| On Handover | AED 871,820 |
| Total on Transfer | AED 793,485 |
| Total remaining Payment Plan | AED 1,089,775 |
| TOTAL COST FOR BUYER | AED 1,883,260 |
Photography
Distress Deal
This 1-bedroom apartment in Iluka Residences on Dubai Islands is offered as a distress deal at AED 1,770,000, representing a 19.3% discount from the original price of AED 2,266,732. The unit measures 850 sq.ft, placing the entry basis at AED 2,082 per sq.ft, which is below recent transaction levels for comparable off-plan stock in the project. The apartment is positioned on a mid-level floor (levels 3–5) and features both an infinity pool and sea view, with a balcony that includes a private pool—an amenity that is consistent across all units in the building. Handover is scheduled for Q1 2027, with a staged payment plan available. The immediate investment thesis is straightforward: the buyer secures a below-market entry into a new Dubai Islands development, with a payment structure that limits upfront capital outlay and a handover timeline that allows for market absorption and further infrastructure progress in the area.
Iluka Residences is located on Dubai Islands, a master-planned coastal district in Deira, positioned to benefit from ongoing infrastructure and hospitality investment. The project sits on Marina Boulevard, offering direct access to the emerging waterfront and proximity to planned retail, leisure, and hospitality nodes. Connectivity is supported by road links to the mainland, with the Dubai Islands Bridge providing a direct route to the city’s core, including Deira, Downtown Dubai, and Dubai International Airport. Public transport options are still developing, so private car use and ride-hailing services are likely to remain the primary modes of access in the near term. For investors, this location profile means the asset is positioned to capture demand from both end-users seeking a waterfront lifestyle and tenants attracted by the evolving leisure and hospitality ecosystem of Dubai Islands.
Iluka Residences is designed as a mid-rise, 11-storey residential building with a focus on lifestyle amenities. Residents have access to an infinity pool, private pools on every balcony, a fitness studio, sauna and steam rooms, yoga and meditation areas, a cinema room, a gaming zone, a clubhouse, and dedicated kids’ play areas. Outdoor spaces include a sky lounge, splash pads, an urban forest, and barbecue facilities. The building’s lobby and common areas are finished to a contemporary standard, with a colour palette and materials chosen for a modern, coastal feel. The surrounding district is planned to include a beach club, retail outlets, and waterfront promenades, with further infrastructure and community facilities expected as Dubai Islands matures. The immediate environment is therefore best described as an emerging lifestyle destination, with a blend of residential, leisure, and hospitality uses.
At AED 2,082 per sq.ft, this unit is priced below recent off-plan transactions in Iluka Residences, where larger units have traded in the AED 2,300–2,320 per sq.ft range. The discount to original price and to current developer stock provides a visible entry advantage. The Dubai Islands market is still in its early stages, with liquidity and end-user demand expected to increase as more projects complete and infrastructure is delivered. The main buyer profile is likely to be a mix of investors seeking early exposure to a new waterfront district and end-users attracted by the amenities and views. Rentability will depend on the pace of area development and the eventual mix of hospitality and residential supply. Risks include construction timeline slippage, service charge levels, and the time required for the wider district to reach maturity. However, the staged payment plan and below-market entry basis help to mitigate some of these points, allowing for a more flexible investment horizon.
This distress deal in Iluka Residences offers an investor a discounted entry into a new Dubai Islands project, with a payment plan that reduces upfront exposure and a handover date that aligns with the district’s growth trajectory. The unit’s size, private pool, and sea view position it well for both rental and resale demand as the area develops. The main considerations are the pace of infrastructure delivery and the eventual service charge environment, both of which should be monitored as handover approaches. For buyers seeking early-stage exposure to Dubai’s next waterfront district, this deal provides a clear pricing advantage and a product that is differentiated by its amenities and design. The case is strongest for those willing to take a medium-term view on area maturity, with the discount and payment structure offering a buffer against typical off-plan risks.
Illustrative model
Set your own assumptions and see how DISTRESS DEAL: 1-BR IN ILUKA RESIDENCES 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 actually considering.
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.
ILUKA RESIDENCES — Dubai Islands
