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The numbers

Payment breakdown

UNIT PRICE

AED 1,485,000

PAYMENTS ON TRANSFER

1. Payment to seller	AED 302,483
2. DLD Transfer fee 4% + 40 AED	AED 59,440
3. DLD Registration Trustee fee + 5% VAT	AED 5,250
4. Buyer's agent commission 2% + 5% VAT	AED 31,185

PAYMENT PLAN SCHEDULE

24 Months from booking date	AED 168,931
36 Months from booking date	AED 168,931
42 Months from booking date	AED 168,931
On Completion	AED 675,724

SUMMARY

Total on Transfer	AED 398,358
Total remaining Payment Plan	AED 1,182,517
TOTAL COST FOR BUYER	AED 1,580,875

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Distress Deal

PROJECT DESCRIPTION

OVERVIEW

This 1-bedroom apartment in Skyvue Steller, Sobha Hartland II, is being offered as a distress deal at AED 1,485,000. The original price, including DLD fees, was AED 1,745,829, so the current offer reflects a discount of approximately 15% below the original purchase basis. The unit measures 633 sq.ft, placing the entry price at AED 2,346 per sq.ft. Positioned on a mid-to-high floor (levels 34–38), the apartment features a balcony and offers community and amenities views. The handover is scheduled for Q1 2029, so this is an off-plan acquisition with a structured payment plan extending through to completion. The immediate investment thesis is clear: the buyer secures a discounted entry into a branded Sobha development in a growing freehold corridor, with a payment schedule that reduces upfront capital exposure. This is not a ready asset, but the discount and payment flexibility may appeal to investors seeking medium-term capital appreciation or future rental potential in a maturing district.

LOCATION & TRANSPORT

Skyvue Steller is located within Sobha Hartland II, an emerging master-planned community in the wider Mohammed Bin Rashid City (MBR City) area. The district is positioned to the east of Downtown Dubai and is accessible via main arterial roads such as Ras Al Khor Road and Al Ain Road, connecting residents to the city’s core business and leisure districts. While the area is still under development, future infrastructure plans include improved public transport links and enhanced road connectivity, which should support both resident convenience and long-term value. For now, private vehicles and ride-hailing services remain the primary modes of transport. The location is likely to appeal to professionals and small families seeking proximity to Downtown, Business Bay, and Dubai Creek Harbour, while also benefiting from the relative calm and green spaces planned for Sobha Hartland II.

AMENITIES & SURROUNDING

Skyvue Steller is part of a new-generation Sobha project, with an emphasis on integrated amenities and community living. Residents can expect access to landscaped gardens, swimming pools, fitness centres, and children’s play areas, in line with Sobha’s typical development standards. The wider Sobha Hartland II master plan includes retail outlets, cafes, schools, and healthcare facilities, aiming to create a self-contained environment for residents. The community’s design prioritises walkability and green spaces, with parks and water features planned throughout the district. As the area matures, supporting infrastructure such as supermarkets, nurseries, and leisure facilities are expected to come online, enhancing day-to-day convenience for residents and improving the overall living environment.

MARKET

At AED 2,346 per sq.ft, this unit sits within the mid-to-upper tier of Dubai’s off-plan apartment market, particularly for branded projects by established developers like Sobha. The 15% discount to original price is material, especially given the payment plan structure, which allows for staged capital deployment over several years. The main market case is for investors who are comfortable with off-plan risk and are seeking exposure to a district that is still in its growth phase. Comparable projects in Sobha Hartland and MBR City have shown steady appreciation as infrastructure and amenities have been delivered, though liquidity can be variable for off-plan resales prior to handover. Rentability post-completion will depend on the pace of area development, the delivery of promised amenities, and the overall supply-demand balance in the Hartland corridor. The buyer profile is likely to include both end-users planning for future occupancy and investors targeting capital gains or rental income after 2029. Key risk points include construction timelines, area absorption rates, and the broader economic cycle at handover.

CONCLUSION

This Skyvue Steller 1-bedroom deal is best suited to investors seeking a discounted entry into a branded, master-planned community with a flexible payment plan. The 15% discount to original price provides a tangible buffer against market volatility, while the staged payments reduce upfront exposure. The main trade-offs are the off-plan nature of the asset and the need to underwrite both developer delivery and area maturation over the next several years. For buyers comfortable with these dynamics, the deal offers a pragmatic route into a Sobha project at a below-market basis, with the potential for both capital appreciation and future rental income. As always, careful due diligence on payment schedules, developer track record, and area progress is advised before commitment. If those fundamentals align, this listing stands as a credible, value-led option in Dubai’s evolving residential investment landscape.

Illustrative model

Scenario modeller

Set your own assumptions and see how DISTRESS DEAL: 1-BR IN SKYVUE STELLER behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.

Listed

14 April 2026

The date this listing was added to our records. The asking price below is the one published then, and was still 111 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

15%

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 2,346/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

Q1 2029

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 1.59M

Price plus every acquisition cost

Illustrative exit price

AED 1.49M

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 189k

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 1,585,585

Cash back, years 1–5AED 1,396,845

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 1,485,000

DLD transfer fee (4%)AED 59,400

Agency fee (2%)AED 29,700

VAT on agency fee (5%)AED 1,485

Conveyancing, trustee & adminAED 10,000

Total cash investedAED 1,585,585

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 (633 sq ft at AED 18/sq ft)−AED 11,394

Net operating income−AED 11,394

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 1,585,585
1	−AED 11,394	—	−AED 11,394
2	−AED 11,394	—	−AED 11,394
3	−AED 11,394	—	−AED 11,394
4	−AED 11,394	—	−AED 11,394
5	−AED 11,394	AED 1,453,815	AED 1,442,421
Years 1–5	−AED 56,970	AED 1,453,815	AED 1,396,845
Less the year-0 outflow of AED 1,585,585 → total profit			−AED 188,740

Exit at year 5: illustrative sale price AED 1,485,000 less selling costs AED 31,185 = AED 1,453,815 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 1.15M	−AED 518k	—	—
−3% p.a.	AED 1.28M	−AED 394k	—	—
0% p.a.your figure	AED 1.49M	−AED 189k	—	—
3% p.a.	AED 1.72M	AED 43k	—	—
5% p.a.	AED 1.90M	AED 213k	—	—

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

SKYVUE STELLER — Sobha Hartland II, Dubai

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DISTRESS DEAL: 1-BR IN SKYVUE STELLER

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