This is a one-bedroom apartment with a separate storage room in Bluewaters Bay - Building 2, the Meraas development at Bluewaters Island. The unit measures 916 sq.ft, sits between the 20th and 30th floors, and has a balcony facing full marina and sea views. Handover is scheduled for July 2027. The asking price is AED 3,160,000 against an original price plus DLD of AED 3,390,400, a reduction of AED 230,400 or 6.8% below original price. On 916 sq.ft of built-up area that is AED 3,450 per square foot. The buyer settles AED 2,715,924 at transfer, of which AED 2,513,874 goes to the seller, and then carries a single remaining developer payment of AED 646,126 on handover. Total cost to the buyer is AED 3,362,050.
Available
BLUEWATERS BAY - BUILDING 2 · Bluewaters Island
BLUEWATERS BAY - BUILDING 2 · Bluewaters IslandMeraas · Bluewaters Island
DISTRESS DEAL: 1-BR + STORAGE IN BLUEWATERS BAY - BUILDING 2
Asking priceAED 3,160,000AED 3,450 per sq.ft
Original price + DLDAED 3,390,400
DiscountAED 230,4006.8% below original price
- Unit
- 1-BR + STORAGE
- Developer
- Meraas
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available
Listed 4 October 2026
Available when we last checked. The asking price shown is the one published when the listing was added on 4 October 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
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The numbers
Payment breakdown
Total cost for buyerAED 3,362,050The unit price plus the transfer fees and commission — the whole commitment, not the headline.
Unit priceAED 3,160,000
Fees and commissionAED 202,050
Step 01Due at transferAED 2,715,924Payable when the unit transfers to the buyer.
- Payment to sellerAED 2,513,874
- DLD Transfer fee (4% of OP + 40 AED)AED 130,440
- Trustee Office FeeAED 5,250
- Buyer's Agency Commission (2% + VAT)AED 66,360
- Total on transferAED 2,715,924
Step 02Payable to Meraas after transferAED 646,126The balance of the payment plan, which the buyer takes over.
- On HandoverAED 646,126
- Total remaining payment planAED 646,126
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
- Bedrooms
- 1 + storage
- Built-up area
- 916 sq.ft
- Floor
- (20-30)
- View
- Full Marina, Sea
- Handover
- Jul 2027
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Bluewaters Bay is a pair of residential towers at the landward end of the Bluewaters bridge, set between Jumeirah Beach Residence and Bluewaters Island itself. The island, home to Ain Dubai, sits directly offshore. Palm Jumeirah lies across the water.
AMENITIES & SURROUNDING
The developer's renders show an infinity-edge pool deck looking across the water to Ain Dubai, a gym that opens onto the pool, and apartments glazed floor to ceiling on the sea-facing side. The Meraas plan for this layout, one-bedroom Type 02, gives a bedroom of 4.1 by 3.6 metres, a living and dining room of 4.3 by 5.6 metres, a separate kitchen and laundry, one bathroom, a 2.7 by 2.0 metre store off the entrance foyer, and a 5.6 by 1.6 metre balcony. For this unit, on the 20th to 30th floor band, the plan records 818.59 sq.ft of suite area and 97.74 sq.ft of balcony, a total of 916.33 sq.ft. The store room is the distinguishing feature of the layout: a separate room inside the apartment for luggage, equipment and household storage, which takes pressure off the bedroom wardrobes.
MARKET
The 6.8% reduction is measured against the original price plus the 4% DLD fee, which is the first buyer's commitment to the developer, and it should be read on that basis. At AED 3,450 per square foot on built-up area, the entry price reflects a waterfront tower at the Bluewaters bridge with full marina and sea views from a floor band between the 20th and 30th floors. The structure of the deal is as important as the headline. AED 2,715,924, roughly 81% of the total cost, is paid at transfer, and a single payment of AED 646,126 falls due on handover in July 2027. The buyer's exposure to the developer is short and clearly defined. As the transfer table shows, the DLD fee is charged at 4% of the original price rather than of the reduced asking price, and it is already built into the transfer figures above. Service charges and the developer's final handover notice are the points to establish before committing.
CONCLUSION
This suits a buyer who wants a completed, sea-facing one-bedroom at the Bluewaters bridge within the next year and prefers to pay most of the consideration now rather than across a long instalment ladder. The discount to original price is 6.8%, the view is full marina and sea, and the storage room gives the layout a practical edge. The single remaining payment of AED 646,126 is due on handover, and the full cost to the buyer, including every transfer fee, is AED 3,362,050. We will take you through the assignment terms, the developer's consent process and the handover timetable before you commit, and review the floor plan and the payment position with you line by line. Contact us to discuss the unit and the numbers in detail.
Location
BLUEWATERS BAY - BUILDING 2 — Bluewaters Island, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 1-BR + STORAGE IN BLUEWATERS BAY - BUILDING 2 behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
Listed
4 October 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
6.8%
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 3,450/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.
Total cash investedThe purchase price plus every cost of getting the keys. It is the denominator of the ROI, ROE and IRR figures.
AED 3.35M
Price plus every acquisition cost
Illustrative exit price
AED 3.16M
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 3,160,000
DLD transfer fee (4%)AED 126,400
Agency fee (2%)AED 63,200
VAT on agency fee (5%)AED 3,160
Conveyancing, trustee & adminAED 0
Total cash investedAED 3,352,760
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 (1,000 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 3,352,760 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 3,093,640 | AED 3,093,640 |
| Years 1–5 | AED 0 | AED 3,093,640 | AED 3,093,640 |
| Less the year-0 outflow of AED 3,352,760 → total profit | −AED 259,120 | ||
Exit at year 5: illustrative sale price AED 3,160,000 less selling costs AED 66,360 = AED 3,093,640 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 2.45M | — | — | — |
| −3% p.a. | AED 2.71M | — | — | — |
| 0% p.a.your figure | AED 3.16M | — | — | — |
| 3% p.a. | AED 3.66M | — | — | — |
| 5% p.a. | AED 4.03M | — | — | — |
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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