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DLD · MEDIAN 12M TO JUL 2026
DISTRESS DEAL: 2-BR IN OCEAN STAR

Distress Deal

DISTRESS DEAL: 2-BR IN OCEAN STAR

Asking PriceAED 2,440,690
Below Original Price4.6%
Size1,155 sq.ft
Bedrooms2
Price / Sq.FtAED 2,113
HandoverQ3 2028
Sold
Listed 13 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 13 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 2,440,690

PAYMENTS ON TRANSFER

1. Payment to seller AED 1,210,747
2. DLD Transfer fee 4% + 40 AED AED 97,668
3. DLD Registration Trustee fee + 5% VAT AED 5,250
4. Buyer's agent commission 2% + 5% VAT AED 51,254

PAYMENT PLAN SCHEDULE

JUN-2026 AED 245,989
DEC-2026 AED 245,989
MAY-2027 AED 245,989
OCT-2027 AED 245,989
On Handover (JUL-2028) AED 245,987

SUMMARY

Total on Transfer AED 1,364,919
Total remaining Payment Plan AED 1,229,943
TOTAL COST FOR BUYER AED 2,594,862

Distress Deal

PROJECT DESCRIPTION

OVERVIEW

Ocean Star is a residential multi building complex under development within Rashid Yachts and Marina in Port Rashid, Bur Dubai, Dubai, United Arab Emirates. The project forms part of the wider Mina Rashid waterfront redevelopment led by Emaar Properties through its subsidiary Mina Rashid Properties. The development comprises two mid rise buildings known as Ocean Star Building 1 and Ocean Star Building 2, each rising seven storeys above ground level. Upon completion the complex is expected to contain approximately 154 residential units arranged across one, two and three bedroom layouts.

LOCATION & TRANSPORT

Ocean Star is located within Rashid Yachts and Marina, a large scale waterfront master community positioned in Port Rashid along the coastline north west of central Dubai. The development sits within the Bur Dubai district which forms one of the citys oldest urban areas along Dubai Creek. Rashid Yachts and Marina is designed as a luxury marina district anchored around yacht berths, promenades, hospitality venues and residential buildings.

AMENITIES & SURROUNDING

Ocean Star residents are expected to have access to a range of shared facilities integrated into the residential complex and surrounding marina community. Planned amenities include swimming pools, outdoor fitness zones, sports facilities and landscaped parks. Additional communal spaces include barbecue areas, outdoor games zones and social seating areas integrated into landscaped courtyards. Retail and dining venues are planned within the wider Rashid Yachts and Marina district providing daily convenience services as well as marina front restaurants.

MARKET

The Ocean Star development consists of two primary residential buildings positioned within landscaped plots overlooking marina related water features and internal community spaces. Each building rises seven floors and is designed with balconies and waterfront facing elevations intended to maximise overlooking views toward landscaped courtyards and water elements. According to officially published information, the project will contain an estimated 154 apartments divided across a range of one bedroom, two bedroom and three bedroom configurations. Apartment layouts are intended to include open kitchen arrangements, private balconies and integrated storage spaces. Larger units incorporate en suite bathrooms and dedicated wardrobe areas. The architecture uses a contemporary format with curved balcony corners and chamfered edges combined with metal railings and light coloured façade materials typical of recent Emaar coastal communities.

CONCLUSION

The Ocean Star development consists of two primary residential buildings positioned within landscaped plots overlooking marina related water features and internal community spaces. Each building rises seven floors and is designed with balconies and waterfront facing elevations intended to maximise overlooking views toward landscaped courtyards and water elements. According to officially published information, the project will contain an estimated 154 apartments divided across a range of one bedroom, two bedroom and three bedroom configurations.

Illustrative model

Scenario modeller

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

Purchase

The price you are actually considering.

Drives the service charge only.

Rent and service charge both start here.

Holding & income

Your figure — we have not assumed one.

0% holds rent flat. It may be negative.

8% is roughly a month plus re-letting.

Letting fees and routine repairs.

Replace with the building's own schedule.

Acquisition costs

4% is the Dubai standard.

Buyer-side. 5% VAT added.

Trustee, title deed, NOC.

Exit

1 to 40 years.

0% by default: we publish no price forecasts.

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

OCEAN STAR — Rashid Yachts & Marina, Dubai

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