This is a fully furnished one-bedroom apartment in Society House, the IGO tower in Downtown Dubai. The unit measures 753 sq.ft between the 6th and 10th floors, with a Downtown outlook and a balcony, and the building is complete. The asking price is AED 1,830,000 against an original price plus DLD of AED 2,212,080, a reduction of AED 382,080 or 17.3% below original price. On 753 sq.ft of built-up area that is AED 2,430 per square foot, which is low for a Downtown Dubai address. The buyer settles AED 1,108,238 at transfer, of which AED 979,438 goes to the seller, and takes on a remaining balance of AED 850,562 payable on handover, giving a total cost of AED 1,958,800. The furniture is included in the asking price.
SOCIETY HOUSE · Downtown Dubai1 / 2Igo · Downtown Dubai
DISTRESS DEAL: 1-BR IN SOCIETY HOUSE
- Unit
- 1-BR
- Size
- 753 sq.ft
- Developer
- Igo
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 17 September 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 979,438
- DLD Transfer fee (4% of OP + 40 AED)AED 85,120
- Trustee Office FeeAED 5,250
- Buyer's Agency Commission (2% + VAT)AED 38,430
- Total on transferAED 1,108,238
- On HandoverAED 850,562
- Total remaining payment planAED 850,562
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Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Society House sits on Sheikh Mohammed Bin Rashid Boulevard in Downtown Dubai, the district built around the Burj Khalifa and The Dubai Mall. The Dubai Mall and Burj Khalifa metro station on the Red Line is within walking distance, as is the tram-free but pedestrianised Boulevard itself, the Dubai Fountain and the Souk Al Bahar bridge. Sheikh Zayed Road runs along the western edge of the district, putting DIFC and Business Bay within minutes and Dubai Marina around twenty-five. Dubai International Airport is roughly fifteen minutes by car outside peak hours. Downtown is one of the few Dubai districts where a resident can genuinely live without a car, and that is a significant part of what the address is worth.
AMENITIES & SURROUNDING
Society House is a completed residential tower on the Boulevard, and its residents sit inside the Downtown amenity set rather than depending on the building alone. The Dubai Mall, with its retail, aquarium, ice rink and cinema, is a short walk away, as are the restaurants of Souk Al Bahar and the Boulevard's street-level cafes. Burj Park and the fountain lake give the district its open space. Towers of this class in Downtown typically provide a pool deck, a gym, concierge cover and covered parking. The unit itself is fully furnished, on a mid-level floor with a Downtown outlook and a balcony, which makes it immediately lettable on either a long lease or, subject to building rules and permits, short-stay. Service charges in Downtown towers sit at the higher end of the Dubai range, and that should be modelled before a yield is calculated.
MARKET
AED 2,430 per square foot on built-up area is a notably low figure for Downtown Dubai, where the address ordinarily commands a premium over the wider market. A 17.3% reduction against the original price plus DLD on a finished, furnished unit is the headline here. The counterweight is the payment structure: although the building is complete, AED 850,562 of the consideration still falls due on handover, so a buyer must understand exactly what triggers that payment before committing. Downtown one-bedroom apartments have a deep tenant pool drawn from DIFC, Business Bay and the hospitality sector, and the furnished specification widens it further. Supply in Downtown is constrained by land, which has historically supported values relative to newer districts with open land banks. The Boulevard position also matters for short-stay demand, which in Downtown is driven by proximity to the fountain and the mall rather than by the building itself. Buildings differ in whether they permit holiday-home licensing.
CONCLUSION
For a buyer who wants a Downtown Dubai address at a price per square foot more usually seen further out, this is a direct opportunity. The unit is built, furnished and ready to let, the discount to original price is material at 17.3%, and the location carries walkable access to the metro, the mall and the Boulevard.Every figure on this page is taken from the seller's published listing. Confirm the payment trigger, the service charge and the furniture inventory with us before you act, and we can arrange a viewing. A furnished unit in this district can usually be brought to market within days of transfer.
Location
SOCIETY HOUSE — Downtown Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 1-BR IN SOCIETY HOUSE 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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