Bay Grove Residences is a planned multi building residential complex located within the Dubai Islands master development in Deira, Dubai, United Arab Emirates. The project forms part of the wider Palm Deira redevelopment led by master developer Nakheel and is positioned on one of the islands closest to the mainland shoreline. The scheme comprises four mid rise residential buildings arranged around landscaped podium areas and shared leisure facilities.
BAY GROVE RESIDENCES · Dubai IslandsNakheel · Dubai Islands
DISTRESS DEAL: 2-BR + Maid's - BAY GROVE RESIDENCES
- Unit
- 2-BR + Maid's
- Size
- 1,601 sq.ft
- Developer
- Nakheel
- Handover
- Q4 2028
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
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
- Payment to sellerAED 1,450,150
- DLD Transfer fee 4% + 40 AEDAED 140,040
- DLD Registration Trustee fee + 5% VATAED 5,250
- Buyer's agent commission 2% + 5% VATAED 73,500
- Total on transferAED 1,668,940
- 15-JUL-2026AED 372,700
- 15-NOV-2026AED 372,700
- 15-MAR-2027AED 186,350
- On Handover (15-NOV-2028)AED 1,118,100
- Total remaining payment planAED 2,049,850
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Floor plan
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Bay Grove Residences is situated within Dubai Islands, a large scale waterfront redevelopment located off the northern coastline of Deira. Dubai Islands consists of several reclaimed islands connected to the mainland via a series of bridges and coastal roads. The area forms part of the ongoing transformation of the historic Palm Deira project into a mixed use district that includes residential communities, beachfront hotels, retail precincts and leisure attractions. The development lies within Island B, one of the land masses closest to the mainland districts of Deira and Al Mamzar.
AMENITIES & SURROUNDING
Amenities planned within Bay Grove Residences emphasise outdoor activity and communal spaces integrated into the podium landscaping. Facilities planned for residents include an infinity pool positioned between the buildings as well as separate adult and children pools. Additional leisure facilities include barbecue zones, shaded seating areas, cycle paths and jogging tracks. Indoor amenities will include a fitness centre equipped for cardio and strength training as well as spaces dedicated to yoga and meditation. Communal interior facilities include a residents lounge, clubhouse and co working area intended to support home based work activities.
MARKET
The Bay Grove Residences complex is designed as four residential buildings integrated around shared leisure facilities located on a common podium level. The buildings will feature residential apartments with floor to ceiling windows and private terraces designed to maximise views toward either landscaped podium spaces or the surrounding coastal waters. Residential unit configurations include one bedroom, two bedroom and three bedroom apartments together with larger duplex formats in selected buildings. Interior layouts incorporate integrated storage, open plan living and kitchen spaces and balcony areas oriented toward outdoor views. According to published project information the development will include approximately 296 units across the four structures. The project is being developed by Nakheel through its subsidiary associated with the Palm Deira redevelopment. Nakheel is one of Dubai major master developers responsible for several large scale waterfront projects including Palm Jumeirah and the broader Deira Islands transformation.
CONCLUSION
The Bay Grove Residences complex is designed as four residential buildings integrated around shared leisure facilities located on a common podium level. The buildings will feature residential apartments with floor to ceiling windows and private terraces designed to maximise views toward either landscaped podium spaces or the surrounding coastal waters. Residential unit configurations include one bedroom, two bedroom and three bedroom apartments together with larger duplex formats in selected buildings.
Location
BAY GROVE RESIDENCES — Dubai Islands
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 2-BR + Maid's - BAY GROVE RESIDENCES behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
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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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