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 PALACE RESIDENCES CREEK BLUE — distress deal in Creek Harbour from Mitchell's Commercial Real EstatePALACE RESIDENCES CREEK BLUE · Creek Harbour

Emaar · Creek Harbour

DISTRESS DEAL: 2-BR IN PALACE RESIDENCES CREEK BLUE

Asking price as listedAED 3,443,090AED 2,792 per sq.ft
Original price + DLDAED 3,610,000
DiscountAED 166,9104.6% below original price
Unit
2-BR
Size
1,233 sq.ft
Developer
Emaar
Handover
Q1 2029

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.

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The numbers

Payment breakdown

Total cost for buyer, as listedAED 3,658,408The unit price plus the transfer fees and commission — the whole commitment, not the headline.
Unit priceAED 3,443,090
Fees and commissionAED 215,318
Step 01Due at transferAED 1,492,476Payable when the unit transfers to the buyer.
  • Payment to sellerAED 1,277,158
  • DLD Transfer fee 4% + 40 AEDAED 137,764
  • DLD Registration Trustee fee + 5% VATAED 5,250
  • Buyer's agent commission 2% + 5% VATAED 72,304
  • Total on transferAED 1,492,476
Step 02Payable to Emaar after transferAED 2,165,932The balance of the payment plan, which the buyer takes over.
  • 14-Apr-2026AED 360,989
  • 27-Dec-2026AED 360,989
  • 7-Aug-2027AED 360,989
  • 16-Nov-2027AED 180,494
  • 17-Mar-2028AED 180,494
  • 30-Jul-2028AED 360,989
  • 100% Construction (31-Mar-2029)AED 360,988
  • Total remaining payment planAED 2,165,932

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Floor plan

Floor plan for DISTRESS DEAL: 2-BR IN PALACE RESIDENCES CREEK BLUE

Distress Deal

PROJECT DESCRIPTION

OVERVIEW

This is a distress deal for a two-bedroom apartment in Palace Residences Creek Blue, Dubai Creek Harbour, offered at AED 3,443,090. The reference price for this unit was AED 3,610,000, so the current asking reflects a 4.6% discount, or AED 166,910 below the original price. The apartment covers 1,233 sq.ft, placing the entry basis at approximately AED 2,792 per sq.ft. This is a mid-rise unit (floors 2–6) with a sea view and balcony, and is scheduled for completion in Q1 2029. The payment structure is staged, with a significant portion due on transfer and the remainder spread across construction milestones up to handover. The immediate investment thesis is a below-market entry into a branded Emaar development, with a payment plan that reduces upfront capital exposure and aligns with construction progress. The buyer is not exposed to immediate vacancy or operational risk, but is taking a position on the future value and rentability of a branded residence in a maturing waterfront district.

LOCATION & TRANSPORT

Palace Residences Creek Blue is located within Dubai Creek Harbour, a large-scale master-planned community by Emaar. The area is positioned along the waterfront, with direct views toward the Creek and the Downtown skyline. Access to the wider city is via Ras Al Khor Road and Al Khail Road, providing connections to Downtown Dubai, Business Bay, and Dubai International Airport. Public transport options in Creek Harbour are developing, with planned metro links and existing bus routes, but private car and ride-hailing remain the primary modes for residents. The district is designed to be walkable, with promenades, parks, and retail zones integrated into the master plan. For investors, this location offers a balance between proximity to the city’s core and the appeal of a new waterfront environment, which is expected to mature further as more phases are delivered.

AMENITIES & SURROUNDING

Palace Residences Creek Blue is a branded residential project developed in partnership with Palace Hotels & Resorts, part of Emaar Hospitality Group. The development is planned as a multi-building complex, with two towers and a total of approximately 592 units. Residents will have access to amenities consistent with the Palace brand, including swimming pools, fitness facilities, landscaped gardens, children’s play areas, and concierge services. The project is designed to reflect a blend of Middle Eastern and contemporary aesthetics, with hospitality-style services and communal spaces. The wider Creek Harbour district offers retail outlets, waterfront promenades, parks, and planned cultural attractions. As the area matures, infrastructure such as schools, healthcare, and additional retail is expected to support long-term residential demand. The immediate surroundings are still under development, but the master plan aims to deliver a self-contained, high-amenity environment.

MARKET

At AED 2,792 per sq.ft, this unit is positioned above the average for generic Dubai apartments, but in line with branded, waterfront developments by Emaar. Branded residences in Dubai typically command a premium due to their association with hospitality services and perceived quality. The payment plan structure is standard for off-plan Emaar projects, with a 10% down payment and staged installments. The main investor case is capital appreciation as Creek Harbour matures and branded supply remains limited. Rentability will depend on the pace of district completion and the absorption of new supply, but the Palace brand and waterfront positioning should support demand from both end-users and tenants seeking a serviced environment. Liquidity risk is moderate: while Emaar projects are generally well received, resale before handover can be sensitive to market cycles and construction progress. The main risk points are construction timeline, future service charges, and the pace at which the wider Creek Harbour ecosystem is delivered.

CONCLUSION

This deal is best suited for an investor seeking below-market entry into a branded Emaar project with a manageable payment plan and a long-term view. The 4.6% discount provides a visible entry advantage, and the Palace brand supports both future rentability and resale positioning. The main considerations are the construction timeline (with handover in Q1 2029), the evolving nature of Creek Harbour, and the typical risks of off-plan investment. For buyers comfortable with a staged payment structure and a medium-term horizon, this unit offers a credible case for capital appreciation and future rental income in one of Dubai’s most ambitious waterfront districts. The fundamentals of location, brand, and pricing are aligned for a disciplined, forward-looking acquisition.

Location

PALACE RESIDENCES CREEK BLUE — Creek Harbour, Dubai

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Illustrative model

Scenario modeller

Set your own assumptions and see how DISTRESS DEAL: 2-BR IN PALACE RESIDENCES CREEK BLUE 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.

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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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