This 2-bedroom plus maid’s apartment in Palm Beach - Tower 2 is positioned as a distress deal at AED 5,050,000, reflecting a direct AED 500,000 discount (9%) from the original price of AED 5,550,000. The unit spans 1,764 sq.ft, placing the entry at approximately AED 2,863 per sq.ft. The apartment is situated on a high floor (levels 17 to 22) and offers full Palm and Burj Al Arab views, with a balcony included. Handover is scheduled for Q4 2026, so the investment case is not for immediate use but for a near-term handover with a payment plan structure. The deal thesis is straightforward: the buyer secures a high-floor, view-oriented Palm Jumeirah address from Nakheel, at a visible discount to the original price, with a staged payment profile and a completion timeline that is already within a two-year horizon. This is not a speculative off-plan play with a distant handover; it is a late-stage project by a major developer, with the price advantage locked in at contract.
PALM BEACH · Palm Jumeirah1 / 2Nakheel · Palm Jumeirah
DISTRESS DEAL: 2-BR + Maid's IN PALM BEACH
- Unit
- 2-BR + Maid's
- Size
- 1,764 sq.ft
- Developer
- Nakheel
- Handover
- Q4 2026
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 21 May 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 2,926,480
- DLD Transfer fee 4% + 40 AEDAED 202,040
- DLD Registration Trustee fee + 5%VATAED 5,250
- Buyer's agent commission 2% + 5%VATAED 106,050
- Total on transferAED 3,239,820
- On HandoverAED 2,123,520
- Total remaining payment planAED 2,123,520
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Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Palm Beach - Tower 2 is located on the trunk of Palm Jumeirah, one of Dubai’s most recognised residential and hospitality destinations. The trunk location is significant for access: it allows for easier entry and exit compared to deeper frond or crescent addresses, connecting efficiently to Sheikh Zayed Road, Dubai Marina, Media City, and JBR. Public transport options are limited, but taxis and ride-hailing services are widely available, and the Palm Monorail provides a link to key points on the island. For residents and tenants, this means practical daily movement, whether commuting to business districts or accessing leisure destinations. The immediate area is well-served by retail, dining, and entertainment, making it attractive for both end-users and tenants seeking the Palm lifestyle without the isolation of more remote island sections.
AMENITIES & SURROUNDING
Palm Beach - Tower 2 is part of a new development by Nakheel, known for delivering large-scale, amenity-rich projects. Residents can expect a comprehensive suite of facilities, including swimming pools, fitness centres, landscaped podiums, children’s play areas, and dedicated parking. The building is designed to offer panoramic views, with this unit specifically benefitting from full Palm and Burj Al Arab outlooks. The wider Palm Jumeirah environment supports a high standard of living, with access to beaches, waterfront promenades, and a range of restaurants, cafés, and retail outlets. Nakheel Mall, Golden Mile Galleria, and The Pointe are all within easy reach, providing shopping and leisure options. The district is also home to several five-star hotels, spas, and beach clubs, reinforcing the area’s appeal for residents who value both convenience and lifestyle infrastructure.
MARKET
At AED 2,863 per sq.ft, this apartment is priced below the original developer rate, which is notable in the context of Palm Jumeirah’s ongoing demand for high-floor, view-oriented units. The late-stage handover (Q4 2026) reduces construction risk compared to earlier off-plan launches, and the payment plan allows for capital management over the remaining build period. The buyer profile is likely to be a mix of investors seeking capital appreciation as the project nears completion, and end-users planning for future occupation. Rentability on Palm Jumeirah remains strong, especially for new-build, view-led apartments, but investors should factor in service charges, vacancy periods, and the competitive landscape from other new launches. Liquidity is generally robust for well-positioned Palm assets, but resale pricing will depend on market conditions at handover and the quality of the final product. The main risk points are potential delays in handover, changes in market sentiment, and the impact of service charges on net yields.
CONCLUSION
This distress deal in Palm Beach - Tower 2 offers a clear investor case: a high-floor, full-view 2-bedroom plus maid’s apartment on Palm Jumeirah, at a 9% discount to the original price, with a handover scheduled within two years. The location, developer profile, and amenity set all support the long-term appeal of the asset, while the payment plan structure provides flexibility for capital deployment. The main considerations are the timing of handover, the final quality of delivery, and ongoing service charges. For buyers seeking a Palm address with strong view credentials and a visible entry discount, this deal provides a balanced opportunity. The fundamentals here are grounded in a tangible product, a credible developer, and a location with enduring demand.
Location
PALM BEACH — Palm Jumeirah, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 2-BR + Maid's IN PALM BEACH behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
Enter the asking price to run the model.
Every figure recalculates as you type. Use the price you are considering.
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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