This is a two-bedroom apartment in Nautica Two, a 49-storey residential tower currently under development by Select Group in Dubai Maritime City. The apartment offers a generous 1,032 sq.ft of internal space, positioned on a high floor between the 40th and 48th levels, with sweeping views of the sea and marina. The current asking price is AED 2,385,000, which represents a 18.1% discount from the original reference price of AED 2,912,000. This equates to AED 2,311 per square foot, positioning it attractively against recent transaction benchmarks within the project. The deal structure requires an immediate payment on transfer of AED 869,975, with the remaining AED 1,682,400 payable according to the developer’s payment plan. The total buyer cost, including all associated fees, is AED 2,552,375. With handover scheduled for Q4 2026, this opportunity appeals to investors seeking a near-term completion in a waterfront district with strong future prospects.
NAUTICA TWO · Maritime City1 / 2Select Group · Maritime City
DISTRESS DEAL: 2-BR IN NAUTICA TWO
- Unit
- 2-BR
- Size
- 1,032 sq.ft
- Developer
- Select Group
- Handover
- Q4 2026
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 1 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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The numbers
Payment breakdown
- Payment to sellerAED 702,600
- DLD Transfer fee (4% of OP + 40 AED)AED 112,040
- DLD Registration Trustee fee + 5%VATAED 5,250
- Buyer's agent comission 2% + 5%VATAED 50,085
- Total on transferAED 869,975
- On Handover (31.12.2026)AED 1,682,400
- Total remaining payment planAED 1,682,400
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Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Nautica Two is situated in Dubai Maritime City, a rapidly developing waterfront precinct strategically located between Port Rashid and Dubai Drydocks. The area is designed to become a mixed-use urban hub, blending residential, commercial, and hospitality offerings. Residents benefit from direct road links to Sheikh Zayed Road, providing straightforward access to Downtown Dubai, DIFC, and Dubai International Airport. Public transport options are expected to improve as the district matures, with future plans for enhanced bus and marine connectivity. The location offers proximity to established neighbourhoods such as Jumeirah, Bur Dubai, and Dubai Marina, making it convenient for both daily commuting and leisure activities. The setting is particularly appealing for those seeking a blend of urban connectivity and waterfront tranquillity.
AMENITIES & SURROUNDING
Nautica Two is designed to deliver a contemporary waterfront lifestyle, with a suite of amenities focused on wellness, recreation, and community. The podium level features an infinity pool overlooking the Arabian Gulf, a yoga deck, jacuzzi, and sun loungers for relaxation. Fitness enthusiasts will appreciate the fully equipped indoor gym, outdoor gymnasium, basketball half-court, and padel tennis court. The building’s design philosophy emphasises maximising sea and marina views, with apartments finished in a modern palette of slate, cool grey, sapphire, and timber tones. The surrounding district is planned to include landscaped promenades, retail outlets, and dining options, enhancing the liveability of the area. As the wider Maritime City masterplan progresses, residents can expect further improvements in infrastructure and community facilities.
MARKET
From an investment perspective, Nautica Two is positioned as a competitive offering within Dubai’s evolving waterfront segment. Recent transactions in the building have seen one-bedroom units trading at AED 2,718–2,721 per square foot, suggesting that this two-bedroom unit is priced below the prevailing rate for new stock. The project is being developed by Select Group, a reputable developer with a track record of delivering high-rise residential towers in Dubai. The area’s ongoing transformation is expected to support future capital appreciation, particularly as infrastructure and amenities come online. The buyer profile is likely to include both end-users attracted by the waterfront setting and investors seeking rental yield and medium-term capital growth. While liquidity in Maritime City is still developing, the combination of a discounted entry price and a near-term handover may help mitigate some of the risks associated with emerging districts. As with any off-plan acquisition, investors should remain mindful of construction timelines and the pace of area development, which can influence both rental demand and resale prospects in the initial years post-handover.
CONCLUSION
This distressed deal in Nautica Two offers investors a discounted entry into one of Dubai’s most promising new waterfront communities. The combination of a high-floor, sea-facing two-bedroom layout, a reputable developer, and a 18.1% discount to the original price creates a compelling value proposition. The area’s masterplan and improving infrastructure point to medium- and long-term upside, though investors should weigh the usual risks associated with off-plan projects and the evolving nature of Maritime City. For those seeking a balance of future capital appreciation, rental potential, and a modern waterfront lifestyle, this opportunity merits careful consideration as part of a diversified Dubai property portfolio.
Location
NAUTICA TWO — Maritime City, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 2-BR IN NAUTICA TWO 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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