Distress Deal
Available when we last checked on 3 August 2026. The asking price shown is the one published when the listing was added on 18 August 2026, -15 days before that check, and it is not re-checked against the market automatically. Confirm availability and price with us before you act on it.
On this page
The numbers
| UNIT PRICE | AED 5,750,000 |
| Original price + DLD 4% | AED 6,062,160 |
| Selling price | AED 5,750,000 |
| Discount | AED 312,160 (5.2%) |
| Developer | Damac |
| Sub-community | Business Bay |
| Property type | Apartment |
| Built-up area | 2,208 sq.ft |
| Price per sq.ft (BUA) | AED 2,604 |
| Floor | (2-8) |
| View | Canal |
| Handover | Q4 2027 |
| Source listing | distressonly.deals/u/6eEks7 — listed 18 August 2026 |
Distress Deal
This three-bedroom apartment in Canal Heights 2, Business Bay, is offered at AED 5,750,000. The source records an original price plus the 4% DLD fee of AED 6,062,160, so the asking figure sits AED 312,160, or 5.2%, below original price. The apartment measures 2,208 sq.ft of built-up area, giving an entry basis of AED 2,604 per sq.ft on that built-up area. It occupies a low floor band between the second and eighth storeys, looks onto the canal, and carries a balcony. Handover is stated as Q4 2027 and the developer is Damac. The low floor band and the canal aspect are worth reading together: at this height the water is close rather than distant, which is a different and, for many buyers, a better proposition than a long view from above. The floor plan is available on request.
Business Bay wraps around the Dubai Water Canal immediately south of Downtown Dubai, at the point where the canal turns west towards the Jumeirah coast. The district's connectivity is among the best in the city: Sheikh Zayed Road runs along its western edge and Al Khail Road along the eastern, and Business Bay station on the metro Red Line sits within the district rather than on its perimeter. Downtown, the Dubai Mall and the financial centre are all reachable in a short drive, and from the northern blocks on foot. The canal carries the Marasi Drive promenade and a water-taxi service, and its pedestrian bridges connect west to Safa Park and the Jumeirah residential belt on the far bank. For a household with school-age children the combination of direct metro access and two arterial roads materially widens the range of schools within a practical daily journey.
The canal frontage is the district's principal amenity, and a low-floor canal-facing apartment sits closer to it than most. Marasi Drive runs as a continuous waterfront promenade with restaurants, cafés and moorings, and the surrounding blocks carry a dense concentration of gyms, clinics, nurseries, supermarkets and speciality retail at podium level. Safa Park lies across the water to the west, and the Downtown cultural and retail cluster, including Dubai Opera, is immediately north. For a family-sized apartment the walkable access to schooling, clinics and everyday retail matters more than a distant outlook, and Business Bay supplies both within the same few blocks. The unit carries its own balcony. For the building's facility schedule and the floor plan, please contact us. A low floor also shortens the daily lift journey, which matters more in a family apartment than it does in a studio.
The 5.2% reduction is measured against the original price plus the 4% DLD registration fee, the basis the source publishes, and it compares the asking figure with the first buyer's commitment rather than with current resale evidence. We have not attached a valuation. At AED 2,604 per sq.ft on built-up area the entry basis is a central canal-district basis, and the 2,208 sq.ft floor plate is generous for three bedrooms in Business Bay, where three-bedroom stock is scarcer than one and two. The reduction is modest in percentage terms, at AED 312,160 in cash. With handover in Q4 2027 the outstanding developer instalments sit alongside the payment due to the seller at transfer, and the two together set the real cost of entry.
This suits a family buyer who wants a large three-bedroom apartment on the canal in a central, metro-served district, with occupation in 2027. The scarcity of three-bedroom stock in Business Bay is the structural argument: the district's pipeline is weighted heavily towards smaller units, so a 2,208 sq.ft canal-facing apartment competes against a thin field both to rent and to resell. The low floor band will suit buyers who want proximity to the water rather than height, and it is worth viewing on that basis. The 5.2% reduction is a secondary consideration. Before an offer we will confirm the outstanding instalments, the transfer costs and the seller's position. For the floor plan and the payment schedule, please get in touch.
Illustrative model
Set your own assumptions and see how DISTRESS DEAL: 3-BR IN CANAL HEIGHTS 2 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 was still -15 days old when we last checked this listing on 3 August 2026. It is not re-checked against the market automatically, so 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.
This is the ROI and IRR denominator: the price plus every cost of getting the keys, not the price alone.
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.
| Year | Net operating income | Sale proceeds, net | Net cash flow |
|---|---|---|---|
| 0 · today | — | — | −AED 6,100,750 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 5,629,250 | AED 5,629,250 |
| Years 1–5 | AED 0 | AED 5,629,250 | AED 5,629,250 |
| Less the year-0 outflow of AED 6,100,750 → total profit | −AED 471,500 | ||
Exit at year 5: illustrative sale price AED 5,750,000 less selling costs AED 120,750 = AED 5,629,250 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.
| Exit growth | Exit price | Total profit | ROI | IRR |
|---|---|---|---|---|
| −5% p.a. | AED 4.45M | — | — | — |
| −3% p.a. | AED 4.94M | — | — | — |
| 0% p.a.your figure | AED 5.75M | — | — | — |
| 3% p.a. | AED 6.67M | — | — | — |
| 5% p.a. | AED 7.34M | — | — | — |
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.
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.
CANAL HEIGHTS 2 — Business Bay, Dubai
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