Palm Jumeirah AED 3,524/sqftDubai Maritime City AED 3,152/sqftDowntown Dubai AED 2,905/sqftDubai Islands AED 2,770/sqftDubai Creek Harbour AED 2,563/sqftBusiness Bay AED 2,509/sqftDubai Marina AED 2,481/sqftDubai Hills Estate AED 2,448/sqftJumeirah Lakes Towers AED 2,306/sqftMohammed Bin Rashid City AED 2,097/sqftAl Jaddaf AED 2,049/sqftJumeirah Village Triangle AED 1,665/sqftDubai South AED 1,652/sqftArjan AED 1,584/sqftJumeirah Village Circle AED 1,491/sqftDubai Sports City AED 1,328/sqftALL DLD SALES · OFF-PLAN + EXISTINGPalm Jumeirah AED 3,524/sqftDubai Maritime City AED 3,152/sqftDowntown Dubai AED 2,905/sqftDubai Islands AED 2,770/sqftDubai Creek Harbour AED 2,563/sqftBusiness Bay AED 2,509/sqftDubai Marina AED 2,481/sqftDubai Hills Estate AED 2,448/sqftJumeirah Lakes Towers AED 2,306/sqftMohammed Bin Rashid City AED 2,097/sqftAl Jaddaf AED 2,049/sqftJumeirah Village Triangle AED 1,665/sqftDubai South AED 1,652/sqftArjan AED 1,584/sqftJumeirah Village Circle AED 1,491/sqftDubai Sports City AED 1,328/sqftALL DLD SALES · OFF-PLAN + EXISTING
DLD · MEDIAN 12M TO OCT 2026
SoldDISTRESS DEAL: 2-BR IN BAY GROVE RESIDENCES - BUILDING B14 — distress deal in Dubai Islands from Mitchell's Commercial Real EstateBAY GROVE RESIDENCES - BUILDING B14 · Dubai Islands

Nakheel · Dubai Islands

DISTRESS DEAL: 2-BR IN BAY GROVE RESIDENCES - BUILDING B14

Asking price as listedAED 2,950,000AED 2,368 per sq.ft
Original price + DLDAED 3,276,000
DiscountAED 326,0009.9% below original price
Unit
2-BR
Size
1246 sq.ft
Developer
Nakheel
Handover
Q3 2028

The discount is measured against the original price + DLD recorded for this unit, not against a valuation.

Sold
Listed 7 August 2026Status confirmed 17 September 2026

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 7 August 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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Payment breakdown

Total cost for buyer, as listedAED 3,135,240The unit price plus the transfer fees and commission — the whole commitment, not the headline.
Unit priceAED 2,950,000
Fees and commissionAED 185,240
Step 01Due at transferAED 1,409,340Payable when the unit transfers to the buyer.
  • Payment to sellerAED 1,224,100
  • DLD Transfer fee 4% + 40 AEDAED 118,040
  • DLD Registration Trustee fee + 5%VATAED 5,250
  • Buyer's agent comission 2% + 5%VATAED 61,950
  • Total on transferAED 1,409,340
Step 02Payable to Nakheel after transferAED 1,725,900The balance of the payment plan, which the buyer takes over.
  • 15-Dec-2026AED 313,800
  • 15-Aug-2027AED 156,900
  • On Handover (15-Jun-2029)AED 941,400
  • Total remaining payment planAED 1,725,900

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Floor plan

Floor plan for DISTRESS DEAL: 2-BR IN BAY GROVE RESIDENCES - BUILDING B14

Distress Deal

PROJECT DESCRIPTION

OVERVIEW

This is a 2-bedroom apartment opportunity in Bay Grove Residences, Building B14, located on Dubai Islands and developed by Nakheel. The unit offers a well-proportioned 1,246 sq.ft of internal space, positioned on a low floor with a sea view and balcony. The current asking price stands at AED 2,950,000, which is 9.9% below the original price of AED 3,276,000, representing a discount of AED 326,000. This brings the price per square foot to AED 2,368, which is competitive for a new-build, waterfront project in this emerging district. The total buyer cost, including all payments, is AED 3,135,240. The handover is scheduled for Q3 2028, providing a clear timeline for completion and occupancy. The immediate investment thesis here is the ability to secure a waterfront property from a leading developer at a meaningful discount to launch pricing, with a payment plan structure that allows for staged capital deployment.

LOCATION & TRANSPORT

Bay Grove Residences is situated on Dubai Islands, an ambitious master-planned area by Nakheel, positioned off the Deira coastline. Dubai Islands is designed to be one of the city’s next-generation lifestyle destinations, with direct road links to the mainland and convenient access to the wider city. The area is accessible via the Deira Islands Bridge, connecting directly to the mainland road network, and is within reasonable driving distance of Dubai International Airport and the central business districts. Public transport options are expected to expand as the area matures, with plans for improved bus and water transport links. The proximity to Deira and the northern parts of Dubai ensures that residents and tenants will benefit from established retail, healthcare, and educational infrastructure, while also enjoying the relative tranquillity of an island setting.

AMENITIES & SURROUNDING

Bay Grove Residences is conceived as a multi-building complex with a strong focus on community and wellness. The project features a green podium linking the four residential buildings, with an infinity pool overlooking the waterfront. Residents have access to an adults-only pool, a separate children’s pool, barbecue facilities, and sun loungers. The development includes a clubhouse, residents’ lounge, and co-working space, supporting both leisure and remote working needs. Fitness amenities are comprehensive, with a fully equipped fitness centre, yoga and meditation areas, and a running track. Additional features include bicycle storage, a pet wash station, indoor play areas for children, shaded seating, and visitor parking. The design incorporates floor-to-ceiling windows, terraces, and in-built storage within the apartments, maximising natural light and functionality. The wider Dubai Islands masterplan is expected to deliver landscaped parks, waterfront promenades, and a range of retail and dining options as the area develops.

MARKET

From an investment perspective, Bay Grove Residences is positioned to appeal to both end-users and rental investors seeking waterfront living at a relative value. Recent transactions in the development indicate price points in the range of AED 2,222–2,415 per sq.ft for comparable units, suggesting that this apartment is priced attractively within the current market context. The handover in 2028 allows investors to benefit from capital appreciation as the Dubai Islands district matures and infrastructure is completed. Rentability is supported by the project’s amenities, waterfront views, and the growing appeal of Dubai Islands as a residential destination. Liquidity is likely to improve as handover approaches and as more residents move into the area. Key risk factors include the pace of infrastructure delivery on Dubai Islands and the broader market’s absorption of new supply. However, the backing of a major developer and the staged payment plan help to mitigate some of these risks.

CONCLUSION

This 2-bedroom apartment in Bay Grove Residences, Building B14, offers investors a chance to acquire a waterfront property from a reputable developer at a notable discount to original pricing. The payment structure allows for capital to be deployed in stages, and the project’s amenity offering is well-aligned with the expectations of both end-users and tenants. While the area is still in the development phase, the long-term vision for Dubai Islands and the quality of the project’s design and facilities provide a solid foundation for future value. Investors should consider the timeline to handover and the evolving nature of the district, but for those seeking exposure to Dubai’s next waterfront precinct at below-launch pricing, this opportunity warrants close attention.

Location

BAY GROVE RESIDENCES - BUILDING B14 — Dubai Islands

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Illustrative model

Scenario modeller

Set your own assumptions and see how DISTRESS DEAL: 2-BR IN BAY GROVE RESIDENCES - BUILDING B14 behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.

Purchase

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Rent and service charge both start here.

Holding & income

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0% holds rent flat. It may be negative.

Your figure — we publish none. A month vacant plus re-letting time is roughly 8%, if that fits your building.

Your figure — we publish none. Letting fees and routine repairs.

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Acquisition costs

4% is the Dubai standard.

Buyer-side. 5% VAT added.

Your figure — we publish none. The trustee tariff is tiered and the admin lines vary by office; ask your trustee office for the total, and add your NOC and any legal quote.

Exit

1 to 40 years.

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5% VAT added automatically.

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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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