The property is a two-bedroom apartment with a maid's room in Bluewaters Bay - Building 1, a Meraas development on Bluewaters Island. It is a corner unit with a stated size of 1,670 sq.ft, set within the 12-22 floor band, with a sea view and a balcony. Handover is scheduled for Q3 2027. The asking price is AED 5,252,000 against an original price plus DLD of AED 6,362,000, a reduction of AED 1,110,000 or 17.4% below original price. On the stated size the price works out at AED 3,145 per sq.ft. The buyer pays AED 4,388,874 at transfer, of which AED 4,028,600 goes to the seller, and then carries AED 1,223,400 of remaining payment plan, giving a total cost of AED 5,612,274. The payment to the seller and the remaining plan together make up the AED 5,252,000 asking price.
Meraas · Bluewaters Island
DISTRESS DEAL: 2-BR + Maid's IN BLUEWATERS BAY - BUILDING 1
- Unit
- 2-BR + Maid's
- Size
- 1,670 sq.ft
- Developer
- Meraas
- Handover
- Q3 2027
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 7 October 2026, and it is not re-checked against the market automatically. Confirm availability and price with us before you act on it.
On this page
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The numbers
Payment breakdown
- Payment to sellerAED 4,028,600
- DLD Transfer fee (4% of OP + 40 AED)AED 244,732
- Trustee Office FeeAED 5,250
- Buyer's Agency Commission (2% + VAT)AED 110,292
- Total on transferAED 4,388,874
- On HandoverAED 1,223,400
- Total remaining payment planAED 1,223,400
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
- Bedrooms
- 2 + maid's
- Floor
- 12-22
- View
- Sea
- Balcony
- Yes
- Position
- Corner unit
Photography
Gallery
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Bluewaters Island is a Meraas community, and Bluewaters Bay - Building 1 stands within it. The apartment sits in the 12-22 floor band, and its view is of the sea. Island living shapes daily movement, with walking inside the development and car or taxi journeys beyond it. Handover is scheduled for Q3 2027, so the public spaces and neighbouring buildings around the tower continue to take shape until completion. A visit to the island in person gives a clearer picture of the setting than any plan can, and the approaches, the waterfront and the neighbouring buildings can all be seen at the hours that matter to the future occupants.
AMENITIES & SURROUNDING
The apartment has two bedrooms and a maid's room, within 1,670 sq.ft of stated size. The unit is a corner apartment, and the sea view and balcony are part of the offer. The shared facilities of Bluewaters Island follow the developer's community plan, and their delivery follows the handover timetable for Q3 2027. A maid's room within a two-bedroom plan suits a household that wants live-in help. The floor band of 12-22 and the sea view are the two location details recorded for the unit, and the price per sq.ft on the stated size is AED 3,145. Together the two bedrooms, the maid's room, the corner position and the balcony make up the full description of the accommodation. Bluewaters Island is the sub-community and Meraas is the developer.
MARKET
The 17.4% reduction is measured against the original price plus the 4% DLD fee, which is the amount the first buyer committed to the developer, and it reads on that basis. At AED 3,145 per sq.ft on the stated size, the price reflects a two-bedroom corner apartment with a maid's room, bought in the construction phase. The structure has two stages. At transfer the buyer pays AED 4,388,874, made up of AED 4,028,600 to the seller, the DLD fee of AED 244,732, the trustee office fee of AED 5,250 and the buyer's agency commission of AED 110,292. The remaining plan is a single payment of AED 1,223,400, which falls due on handover. The DLD fee is calculated on the original price excluding DLD, because the unit is selling below that price. The payment to the seller and the remaining plan together make up the AED 5,252,000 asking price. The total of AED 5,612,274 includes every transfer cost. The discount of AED 1,110,000 is the difference between the original price plus DLD of AED 6,362,000 and the selling price of AED 5,252,000, and it equals 17.4% of the original figure. With one remaining payment, the buyer's cash commitment after transfer is a single sum on handover.
CONCLUSION
The apartment suits a household that wants two bedrooms, a maid's room, a sea view and a corner position on Bluewaters Island, and that can meet a single handover payment in Q3 2027. It also suits an investor comfortable holding through construction. The reduction is 17.4% below original price, and the total cost including every transfer fee is AED 5,612,274. The unit sits in the 12 to 22 floor band, and the corner position gives it two aspects rather than one. Meraas is the developer, and handover is set for Q3 2027.
Location
BLUEWATERS BAY - BUILDING 1 — Bluewaters Island, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 2-BR + Maid's IN BLUEWATERS BAY - BUILDING 1 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.
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 5,572,372 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 5,141,708 | AED 5,141,708 |
| Years 1–5 | AED 0 | AED 5,141,708 | AED 5,141,708 |
| Less the year-0 outflow of AED 5,572,372 → total profit | −AED 430,664 | ||
Exit at year 5: illustrative sale price AED 5,252,000 less selling costs AED 110,292 = AED 5,141,708 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 4.06M | — | — | — |
| −3% p.a. | AED 4.51M | — | — | — |
| 0% p.a.your figure | AED 5.25M | — | — | — |
| 3% p.a. | AED 6.09M | — | — | — |
| 5% p.a. | AED 6.70M | — | — | — |
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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