This two-bedroom ground-floor apartment at SLS Residences The Palm, Palm Jumeirah, is offered at AED 8,325,435 against an original price plus the 4% DLD fee of AED 8,658,452 — a reduction of AED 333,017, or 3.9%. The unit measures 2,242 sq.ft, which puts the entry basis at AED 3,713 per sq.ft on built-up area. The structure is the part worth reading closely. AED 5,508,403 falls due at transfer, of which AED 4,995,261 goes to the seller, and a further AED 3,330,174 remains payable on the developer's existing plan. Total cost to the buyer is AED 8,838,577. The discount here is modest in percentage terms, and the case rests less on the size of the reduction than on the floor plate: 2,242 sq.ft is generous for a two-bedroom apartment on the Palm, and a ground-floor unit in a branded tower is a different product from the same bedroom count higher up.
Roya · Palm Jumeirah
DISTRESS DEAL: 2-BR IN SLS RESIDENCES THE PALM
- Unit
- 2-BR
- Size
- 2,242 sq.ft
- Developer
- Roya
- Handover
- Q4 2026
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available when we last checked. The asking price shown is the one published when the listing was added on 19 September 2026, and it is not re-checked against the market automatically. Confirm availability and price with us before you act on it.
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The numbers
Payment breakdown
- Payment to sellerAED 4,995,261
- DLD Transfer fee (4% of OP + 40 AED)AED 333,057
- Trustee Office FeeAED 5,250
- Buyer's Agency Commission (2% + VAT)AED 174,834
- Total on transferAED 5,508,403
- 31-JUL-2026AED 3,330,174
- Total remaining payment planAED 3,330,174
Ask us to walk through this schedule, or to confirm the current balance with the developer before terms are agreed.
Ask about these termsUnit details
- Property type
- Apartment
- Floor
- Ground
Photography
Gallery
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Palm Jumeirah needs little introduction as an address, but the practical distinctions within it matter to a buyer. SLS Residences sits on the trunk rather than a frond or the crescent, which is the part of the Palm with the most direct road access to Sheikh Zayed Road, Dubai Marina and Media City. That position trades some seclusion for materially shorter journeys, and it avoids the single-road congestion that affects deeper Palm addresses at peak times. The island is served by the Palm Monorail rather than the metro, and in practice residents in this segment drive. For an investor, trunk positions have historically shown better resale liquidity than the fronds, because the buyer pool extends beyond those specifically seeking privacy.
AMENITIES & SURROUNDING
SLS Residences The Palm is developed by Roya and carries the SLS hospitality brand, which is the substance of the proposition rather than a badge: branded residences in Dubai typically come with a serviced operating model, and buyers should read the service-charge schedule before committing. The immediate surroundings include Palm West Beach, Nakheel Mall and the cluster of dining and retail that has built up along the trunk over the past several years. A ground-floor apartment in a tower of this type usually carries direct terrace access, which is the practical advantage it holds over the floors above, and the trade-off is the outlook: the source records no view designation for this unit, so a buyer should inspect the aspect rather than assume one.
MARKET
At AED 3,713 per sq.ft this unit sits below the rate on the other SLS Residences deal we hold in the same building, which is a 1,936 sq.ft two-bedroom at AED 3,759 per sq.ft. That is a larger floor plate at a slightly lower rate per foot in the same tower, and it is the clearest comparison available. Against the wider Palm Jumeirah market the rate is mid-range for branded stock. The risks are specific rather than general. The 3.9% reduction is thin, so the entry advantage is small and a buyer is largely paying market rather than buying a distressed discount. Handover is stated as Q4 2026, which is close, but AED 3,330,174 remains on the developer plan with an instalment dated 31 July 2026 — a date that has already passed, so the position on that instalment should be confirmed with the developer before terms are agreed.
CONCLUSION
This suits a buyer who wants scale on the Palm in a branded building and is comfortable that the discount is small. The AED 333,017 reduction is measured against what the first buyer contracted to pay, not against a valuation, and we have not attached one. The two things to establish before proceeding are the status of the 31 July 2026 instalment and the service-charge schedule attaching to the SLS operating model, because on a unit of this size both move the holding cost materially. A ground-floor unit also carries a narrower resale audience than a high floor in the same building, which is worth weighing against the larger floor plate.
Location
SLS RESIDENCES THE PALM — Palm Jumeirah, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 2-BR IN SLS RESIDENCES THE PALM 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 is not re-checked against the market automatically — 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 8,833,287 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 8,150,601 | AED 8,150,601 |
| Years 1–5 | AED 0 | AED 8,150,601 | AED 8,150,601 |
| Less the year-0 outflow of AED 8,833,287 → total profit | −AED 682,686 | ||
Exit at year 5: illustrative sale price AED 8,325,435 less selling costs AED 174,834 = AED 8,150,601 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 6.44M | — | — | — |
| −3% p.a. | AED 7.15M | — | — | — |
| 0% p.a.your figure | AED 8.33M | — | — | — |
| 3% p.a. | AED 9.65M | — | — | — |
| 5% p.a. | AED 10.6M | — | — | — |
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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