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 OCEAN STAR — distress deal in Rashid Yachts & Marina from Mitchell's Commercial Real EstateOCEAN STAR · Rashid Yachts & Marina

Emaar · Rashid Yachts & Marina

DISTRESS DEAL: 2-BR IN OCEAN STAR

Asking price as listedAED 2,440,690AED 2,113 per sq.ft
Original price + DLDAED 2,558,284
DiscountAED 117,5944.6% below original price
Unit
2-BR
Size
1,155 sq.ft
Developer
Emaar
Handover
Q3 2028

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

Sold
Listed 13 March 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 13 March 2026 and is historic. It is not an indication of what the same unit, or a comparable one, would cost today.

Looking for another distressed property deal?

This unit has sold. Tell us the size, area and budget you're working to and a member of the Mitchell's team will come back with the stock that currently matches. It takes under a minute, and there's no obligation.

Choose one — the next questions adapt to your answer.

On this page

Quick navigation

The numbers

Payment breakdown

Total cost for buyer, as listedAED 2,594,862The unit price plus the transfer fees and commission — the whole commitment, not the headline.
Unit priceAED 2,440,690
Fees and commissionAED 154,172
Step 01Due at transferAED 1,364,919Payable when the unit transfers to the buyer.
  • Payment to sellerAED 1,210,747
  • DLD Transfer fee 4% + 40 AEDAED 97,668
  • DLD Registration Trustee fee + 5% VATAED 5,250
  • Buyer's agent commission 2% + 5% VATAED 51,254
  • Total on transferAED 1,364,919
Step 02Payable to Emaar after transferAED 1,229,943The balance of the payment plan, which the buyer takes over.
  • JUN-2026AED 245,989
  • DEC-2026AED 245,989
  • MAY-2027AED 245,989
  • OCT-2027AED 245,989
  • On Handover (JUL-2028)AED 245,987
  • Total remaining payment planAED 1,229,943

This unit has sold. Tell us what you are looking for and we will send the deals that are open now.

Show me deals like this one

Layout

Floor plan

Floor plan for DISTRESS DEAL: 2-BR IN OCEAN STARFloor planView full size

Floor plan

Floor plan for DISTRESS DEAL: 2-BR IN OCEAN STAR

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.

Location

OCEAN STAR — Rashid Yachts & Marina, Dubai

Get Directions

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 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.

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.

Your figure — we publish none. Look your building up on Mollak — rates run AED 3 to AED 30+.

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.

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 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.

Got questions?

Get Answers!

Read next

A discounted unit is bought the same way any other is. The questions are just sharper. These are our own guides and articles on buying from overseas, taking on a resale or an off-plan assignment, and what the purchase costs.

The gold rule under an entry is its length, against the longest piece here.

Guides

Articles

Need help?