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 SKYHILLS RESIDENCES 1 — distress deal in Dubai Science Park from Mitchell's Commercial Real EstateSKYHILLS RESIDENCES 1 · Dubai Science Park

HRE · Dubai Science Park

DISTRESS DEAL: 2-BR IN SKYHILLS RESIDENCES 1

Asking price as listedAED 1,635,000AED 1,606 per sq.ft
Market priceAED 1,850,000
DiscountAED 215,00011.6% below market
Unit
2-BR
Size
1018 sq.ft
Developer
HRE

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

Sold
Listed 7 August 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 7 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

At transferDue at transferAED 1,740,025Payable when the unit transfers to the buyer.
  • DLD Transfer fee 4% + 40 AEDAED 65,440
  • DLD Registration Trustee fee + 5%VATAED 5,250
  • Buyer's agent comission 2% + 5%VATAED 34,335
  • Total on transferAED 1,740,025

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Floor plan

Floor plan for DISTRESS DEAL: 2-BR IN SKYHILLS RESIDENCES 1

Distress Deal

PROJECT DESCRIPTION

OVERVIEW

Presenting a high-floor, fully furnished two-bedroom apartment in Skyhills Residences 1, Dubai Science Park, now available at an 11.6% discount to prevailing market prices. With an asking price of AED 1,635,000, compared to a reference market value of AED 1,850,000, this 1,018 sq.ft apartment is attractively positioned at AED 1,606 per square foot. The unit is ready for immediate occupation, offering a straightforward acquisition with no remaining payment plan and a total buyer cost of AED 1,740,025 (including transfer and associated fees). The property features a pool and community view from a high floor, a balcony, and comes with one allocated parking space. For investors, the deal thesis is clear: secure a ready, fully furnished asset in a completed, modern development at a meaningful discount, with immediate rental or resale potential in a maturing submarket.

LOCATION & TRANSPORT

Skyhills Residences 1 is situated in Dubai Science Park, within Al Barsha South 2. The location benefits from excellent connectivity, with direct access to key arterial roads including Umm Suqeim Street, Al Khail Road, and Sheikh Mohammed Bin Zayed Road. This ensures efficient travel to major employment hubs, retail destinations, and Dubai’s central business districts. The area is also set to benefit from a forthcoming metro station, which is expected to further enhance public transport options and support future capital appreciation. For residents and tenants, the location offers a balance of urban convenience and a quieter, community-oriented environment, with proximity to Dubai Hills, Al Barsha, and other established neighbourhoods.

AMENITIES & SURROUNDING

Skyhills Residences is a modern, multi-building complex completed in April 2026, comprising two towers with a total of 1,135 units. Residents enjoy a comprehensive suite of amenities designed for both leisure and daily convenience. Facilities include an infinity pool and lap pool, children’s pool, sky resident lounge on the 39th floor, double-height entrance lobby, and a dedicated lounge area. Fitness and wellness are well catered for, with separate gyms for men and women, an outdoor gymnasium, a jogging track, yoga room, tennis and volleyball courts. The podium level features male and female prayer halls and ablution facilities. Additional amenities include a multi-purpose room, kids’ play area, barbecue area, barber shop, beauty salon, and retail outlets at ground level. The development offers secure basement parking, with each unit allocated a space, and is serviced by multiple high-speed lifts. The surrounding area is well-developed, with supermarkets, medical clinics, schools, and community parks within easy reach, supporting both end-user and tenant appeal.

MARKET

Dubai Science Park is a maturing submarket that has seen steady demand from professionals working in nearby business hubs and healthcare clusters. Skyhills Residences, with its modern specification and comprehensive amenities, is well-positioned to attract both owner-occupiers and tenants seeking quality accommodation at a competitive price point. Recent transactions in the building indicate a healthy level of liquidity, with studios trading at AED 1,579 per sq.ft and above, supporting the value proposition for larger units. The current discount to market provides a buffer against short-term market fluctuations and enhances the yield profile for investors. Rentability is supported by the project’s ready status, high specification, and strong connectivity. As with any new development, investors should be mindful of ongoing supply in the area and the potential for short-term volatility as the community matures. However, the combination of a completed building, immediate handover, and a below-market entry price mitigates several typical off-plan risks.

CONCLUSION

For investors seeking a ready, income-generating asset in a growth corridor of Dubai, this two-bedroom apartment in Skyhills Residences 1 presents a balanced opportunity. The 11.6% discount to market, coupled with a fully furnished, high-floor unit and a comprehensive amenity offering, positions this property as a practical addition to a rental portfolio or as a medium-term capital appreciation play. The area’s improving infrastructure, upcoming metro connectivity, and ongoing population growth underpin the investment case. While the local market is still evolving and may experience periods of adjustment, the fundamentals of this deal—ready status, modern amenities, and an attractive entry price—offer a compelling risk-reward profile for buyers focused on long-term value and liquidity in Dubai’s residential sector.

Location

SKYHILLS RESIDENCES 1 — Dubai Science Park

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Illustrative model

Scenario modeller

Set your own assumptions and see how DISTRESS DEAL: 2-BR IN SKYHILLS RESIDENCES 1 behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.

Purchase

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Drives the service charge only.

Rent and service charge both start here.

Holding & income

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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.

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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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