This two-bedroom apartment in Ocean Cove - Building 1, Rashid Yachts & Marina, is offered as a distress deal at AED 2,480,000. The original price for this unit was AED 2,829,724, reflecting a 12.4% discount, or AED 349,724 below the initial reference. With a built-up area of 1,285 sq.ft, the entry basis stands at AED 1,930 per sq.ft. The property is scheduled for completion in Q4 2027, and is being sold on a payment plan basis, with a significant portion payable on transfer and the remainder spread across construction milestones and handover. The immediate investment thesis is clear: the buyer is securing a below-market entry into a new Emaar development in a waterfront district that is seeing ongoing infrastructure and amenity investment. This is not a completed, income-generating asset today, but a forward position in a project with established developer credibility and a defined handover timeline.
OCEAN COVE · Rashid Yachts & Marina1 / 2Emaar · Rashid Yachts & Marina
DISTRESS DEAL: 2-BR IN OCEAN COVE
- Unit
- 2-BR
- Size
- 1,285 sq.ft
- Developer
- Emaar
- Handover
- Q4 2027
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available when we last checked on 17 September 2026. The asking price shown is the one published when the listing was added on 17 June 2026, 92 days before that check, and it is not re-checked against the market automatically. A listing this old should be treated as indicative — confirm with us that it is still available and still at this price before you act on it.
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The numbers
Payment breakdown
- Payment to sellerAED 1,391,646
- DLD Transfer fee (4% of OP + 40 AED)AED 108,876
- DLD Registration Trustee fee + 5%VATAED 5,250
- Buyer's agent comission 2% + 5%VATAED 52,080
- Total on transferAED 1,557,852
- 40% ConstructionAED 272,089
- 60% ConstructionAED 272,089
- On HandoverAED 544,176
- Total remaining payment planAED 1,088,354
Ask us to walk through this schedule, or to confirm the current balance with the developer before terms are agreed.
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Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Ocean Cove is situated within Rashid Yachts & Marina, a master-planned waterfront community in Port Rashid, Bur Dubai. The location benefits from proximity to the historic heart of Dubai while offering new-build infrastructure and a marina lifestyle. Road access connects residents to Sheikh Rashid Road and Al Mina Road, providing straightforward routes to Downtown Dubai, DIFC, and Dubai International Airport. Public transport options are developing in the area, but at present, private vehicles and ride-hailing services form the main transport layer. The marina setting is a draw for both end-users and tenants seeking a waterfront address with access to yachting, promenades, and leisure facilities. As the district matures, connectivity and local infrastructure are expected to improve further, supporting both rental and resale demand.
AMENITIES & SURROUNDING
Ocean Cove is designed as a mid-rise, multi-building complex with a focus on community and leisure. Residents will have access to a range of amenities, including swimming pools, a gymnasium, outdoor fitness areas, sports courts, barbecue zones, and landscaped gardens. The project also features retail and dining options at podium level, with additional leisure and shopping facilities planned for the wider Rashid Yachts & Marina precinct. The marina itself offers berthing for yachts, waterfront promenades, and a growing selection of cafes and restaurants. Parks and open spaces are integrated into the master plan, providing a balance between urban convenience and a more relaxed, green environment. The surrounding area is still in development, but Emaar’s track record in delivering integrated communities suggests that the amenity base will continue to expand as handovers progress.
MARKET
The AED 1,930 per sq.ft entry for this two-bedroom unit sits below recent transaction levels for one-bedroom apartments in Ocean Cove, which have ranged from AED 2,228 to AED 2,574 per sq.ft in 2026. This positions the deal as a value entry relative to both the project’s own launch and ongoing sales, as well as to other waterfront developments in Dubai. The buyer profile for Rashid Yachts & Marina is evolving, with interest from both end-users seeking a marina lifestyle and investors targeting future rental demand as the area matures. Liquidity is likely to improve as more buildings are completed and the community becomes established. The main risk is the forward nature of the asset: rental income is not immediate, and resale liquidity may be limited until handover approaches. However, Emaar’s involvement and the scale of the master plan provide a degree of downside protection compared to less established off-plan offerings. The payment plan structure also allows for staged capital deployment, which can be attractive for investors managing cash flow.
CONCLUSION
This distress deal offers an investor a discounted entry into an Emaar-led waterfront project with a clear handover timeline and a developing amenity base. The pricing is visibly below both original and recent transaction levels, and the payment plan allows for phased investment. The main considerations are the forward delivery date and the evolving nature of the surrounding district, which means rental and resale outcomes will depend on the pace of community completion and infrastructure rollout. For buyers comfortable with a medium-term horizon and seeking exposure to Dubai’s next-generation marina districts, this deal provides a practical entry point with a margin to market and the backing of a major developer. As with any off-plan position, due diligence on payment schedules, developer delivery, and service charge expectations is advised, but the fundamentals support a balanced investment case for those seeking capital appreciation and future rental potential in a maturing waterfront location.
Location
OCEAN COVE — Rashid Yachts & Marina, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 2-BR IN OCEAN COVE behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
The date this listing was added to our records. The asking price below is the one published then, and was still 92 days old when we last checked this listing on 17 September 2026. It is not re-checked against the market automatically, so confirm it with us before relying on it.
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.
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.
As stated on this listing. Rent cannot start before handover, so on an incomplete unit the early years of the schedule below are holding cost only.
Set service charge, maintenance & management, vacancy allowance above to see cash back — until then this figure would be assuming zero for them.
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.
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 2,631,280 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 2,427,920 | AED 2,427,920 |
| Years 1–5 | AED 0 | AED 2,427,920 | AED 2,427,920 |
| Less the year-0 outflow of AED 2,631,280 → total profit | −AED 203,360 | ||
Exit at year 5: illustrative sale price AED 2,480,000 less selling costs AED 52,080 = AED 2,427,920 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 1.92M | — | — | — |
| −3% p.a. | AED 2.13M | — | — | — |
| 0% p.a.your figure | AED 2.48M | — | — | — |
| 3% p.a. | AED 2.87M | — | — | — |
| 5% p.a. | AED 3.17M | — | — | — |
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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