Distress Deal

DISTRESS DEAL: 2-BR IN ALTAN

Asking PriceAED 3,150,000

Below Original Price10.1%

Size1,453 sq.ft

Bedrooms2

Price / Sq.FtAED 2,168

HandoverQ3 2029

Sold

Listed 24 March 2026Status confirmed 3 August 2026

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 24 March 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

UNIT PRICE

AED 3,150,000

PAYMENTS ON TRANSFER

1. Payment to seller	AED 792,479
2. DLD Transfer fee 4% + 40 AED	AED 126,040
3. DLD Registration Trustee fee + 5% VAT	AED 5,250
4. Buyer's agent commission 2% + 5% VAT	AED 66,150

PAYMENT PLAN SCHEDULE

3-JUN-2026	AED 336,789
4-FEB-2027	AED 336,789
18-OCT-2027	AED 336,789
18-MAR-2028	AED 336,789
17-OCT-2028	AED 336,789
31-JUL-2029	AED 673,576

SUMMARY

Total on Transfer	AED 989,919
Total remaining Payment Plan	AED 2,357,521
TOTAL COST FOR BUYER	AED 3,347,440

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Distress Deal

PROJECT DESCRIPTION

OVERVIEW

This 2-bedroom corner apartment in Altan, Dubai Creek Harbour, is offered as a distress deal at AED 3,050,000. The original price, including DLD fees, was AED 3,502,719, so the current entry point reflects a 10.1% discount, or AED 352,719 below the original commitment. The unit spans 1,453 sq.ft, placing the price per square foot at AED 2,099. Recent transactions in Altan for similar 2-bedroom layouts have registered between AED 2,241 and AED 2,099 per sq.ft, so this deal is positioned at a modest but real discount to recent market evidence. The apartment is on a high floor (levels 17–20), with views over Creek, Downtown, and Meydan, and features a balcony. Handover is scheduled for Q3 2029, with a staged payment plan in place. The core investment thesis is a below-market entry into a new Emaar project, with the potential for capital appreciation as the area matures and the project nears completion.

LOCATION & TRANSPORT

Altan is located in the Green Gate precinct of Dubai Creek Harbour, a master-planned district by Emaar. The area is positioned along the waterfront, offering proximity to both the Creek and the city skyline. Connectivity is a key advantage: Dubai Creek Harbour is accessible via Ras Al Khor Road and is a short drive from Downtown Dubai, Business Bay, and Dubai International Airport. The planned extension of the Dubai Metro and improved road infrastructure are expected to further enhance access as the district develops. For residents and tenants, this means practical commuting options to major business and leisure hubs, while still benefiting from a quieter, waterfront setting. Ride-hailing services and local bus routes currently form the main public transport layer, with further improvements anticipated as the community grows.

AMENITIES & SURROUNDING

Altan Tower is a 58-storey residential building under development, with a total of approximately 479 units. Amenities are designed to support both active and relaxed lifestyles, including a swimming pool, pool deck, indoor and outdoor gyms, yoga and meditation areas, padel tennis court, barbecue facilities, sunken seating, and a co-working space. The building features high-ceiling lobbies, contemporary kitchens, custom-built wardrobes, and modern bathroom fixtures. The wider Dubai Creek Harbour community offers retail, dining, and leisure options, with the Creek Marina, Central Park, and the upcoming Creek Tower all contributing to the area's appeal. The district is intended as a mixed-use, walkable environment, with landscaped promenades and green spaces supporting both family and professional tenant demand.

MARKET

At AED 2,099 per sq.ft, this unit is priced below recent transaction levels for comparable 2-bedroom units in Altan, which have ranged from AED 2,241 to AED 2,099 per sq.ft. The discount is clear but not extreme, reflecting a realistic distress position rather than a fire-sale scenario. Dubai Creek Harbour has seen steady demand for off-plan units, particularly from end-users and investors seeking longer-term capital growth. The area is still maturing, so liquidity is likely to improve as handovers approach and infrastructure is completed. Rental demand is expected to be driven by professionals and families seeking proximity to Downtown and the airport, but investors should factor in the usual off-plan risks: construction timelines, future supply, and the pace of community activation. The payment plan structure allows for staged capital deployment, which can be attractive for buyers seeking to manage cash flow ahead of handover.

CONCLUSION

This Altan 2-bedroom deal offers a straightforward below-market entry into a new Emaar development in Dubai Creek Harbour. The discount is visible against both original pricing and recent transaction benchmarks, and the high-floor, corner layout with broad views adds to the unit's appeal. The main strengths are the payment plan flexibility, the quality of the planned amenities, and the long-term positioning of Dubai Creek Harbour as a growth corridor. The key risks are the extended handover timeline and the need for the wider district to reach full maturity to support resale and rental liquidity. For investors comfortable with a multi-year horizon and seeking exposure to a new waterfront community, this deal provides a measured entry point with a clear pricing advantage over current comparable sales. As always, buyers should verify payment schedules, developer reputation, and community progress before committing, but the core thesis is a disciplined, discounted acquisition in a recognised Emaar project with future upside potential.

Illustrative model

Scenario modeller

Set your own assumptions and see how DISTRESS DEAL: 2-BR IN ALTAN behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.

Purchase

Purchase price

The price you are actually considering.

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.

Nothing to calculate yet

Enter the asking price to run the model.

Every figure recalculates as you type. Use the price you are actually considering.

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.

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

ALTAN — Creek Harbour, Dubai

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