Palm Jumeirah AED 3,524/sqftDubai Maritime City AED 3,152/sqftDowntown Dubai AED 2,905/sqftDubai Islands AED 2,770/sqftDubai Creek Harbour AED 2,563/sqftBusiness Bay AED 2,509/sqftDubai Marina AED 2,481/sqftDubai Hills Estate AED 2,448/sqftJumeirah Lakes Towers AED 2,306/sqftMohammed Bin Rashid City AED 2,097/sqftAl Jaddaf AED 2,049/sqftJumeirah Village Triangle AED 1,665/sqftDubai South AED 1,652/sqftArjan AED 1,584/sqftJumeirah Village Circle AED 1,491/sqftDubai Sports City AED 1,328/sqftALL DLD SALES · OFF-PLAN + EXISTINGPalm Jumeirah AED 3,524/sqftDubai Maritime City AED 3,152/sqftDowntown Dubai AED 2,905/sqftDubai Islands AED 2,770/sqftDubai Creek Harbour AED 2,563/sqftBusiness Bay AED 2,509/sqftDubai Marina AED 2,481/sqftDubai Hills Estate AED 2,448/sqftJumeirah Lakes Towers AED 2,306/sqftMohammed Bin Rashid City AED 2,097/sqftAl Jaddaf AED 2,049/sqftJumeirah Village Triangle AED 1,665/sqftDubai South AED 1,652/sqftArjan AED 1,584/sqftJumeirah Village Circle AED 1,491/sqftDubai Sports City AED 1,328/sqftALL DLD SALES · OFF-PLAN + EXISTING
DLD · MEDIAN 12M TO OCT 2026
SoldDISTRESS DEAL: 3-BR IN THYME — distress deal in City Walk from Mitchell's Commercial Real EstateTHYME · City Walk

Meraas · City Walk

DISTRESS DEAL: 3-BR IN THYME

Asking price as listedAED 6,200,000AED 3,092 per sq.ft
Original price + DLDAED 7,004,000
DiscountAED 804,00011.5% below original price
Unit
3-BR
Size
2,005 sq.ft
Developer
Meraas

The discount is measured against the original price + DLD recorded for this unit, not against a valuation.

Sold
Listed 15 March 2026Status confirmed 17 September 2026

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 15 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

Total cost for buyer, as listedAED 6,604,875The unit price plus the transfer fees and commission — the whole commitment, not the headline.
Unit priceAED 6,200,000
Fees and commissionAED 404,875
Step 01Due at transferAED 4,584,375Payable when the unit transfers to the buyer.
  • Payment to sellerAED 4,179,500
  • DLD Transfer fee (4% of OP + 40 AED)AED 269,425
  • DLD Registration Trustee fee + 5% VATAED 5,250
  • Buyer's agent commission 2% + 5% VATAED 130,200
  • Total on transferAED 4,584,375
Step 02Payable to Meraas after transferAED 2,020,500The balance of the payment plan, which the buyer takes over.
  • On HandoverAED 2,020,500
  • Total remaining payment planAED 2,020,500

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Floor plan

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Floor plan

Floor plan for DISTRESS DEAL: 3-BR IN THYME

Distress Deal

PROJECT DESCRIPTION

OVERVIEW

This 3-bedroom apartment in Thyme at Central Park, City Walk, is offered as a distress deal at AED 6,200,000, reflecting an 11.5% discount from the original price of AED 7,004,000. The unit spans 2,005 sq.ft, resulting in an entry basis of AED 3,092 per sq.ft. The apartment is positioned on a mid-level floor, with park and Burj Khalifa views, and includes a balcony. The building is complete and the unit is ready. A significant portion of the price is settled on transfer, with the balance paid under the payment plan. The immediate investment thesis is a below-market entry into a Meraas-developed, mid-rise project in one of Dubai’s most established urban lifestyle districts. The buyer is securing a ready asset with a clear discount to current off-plan and resale pricing benchmarks in the City Walk corridor, with the added benefit of a flexible payment plan.

LOCATION & TRANSPORT

Thyme is located within Central Park at City Walk, Al Wasl, placing it in a highly accessible and sought-after urban setting. City Walk is known for its walkable streets, retail, dining, and entertainment options, all integrated into a master-planned environment. The development benefits from direct road connectivity to Sheikh Zayed Road, making Downtown Dubai, DIFC, and Jumeirah Beach easily reachable by car. Public transport options include nearby metro stations (Burj Khalifa/Dubai Mall and Business Bay), as well as extensive taxi and ride-hailing coverage. For residents and tenants, this means daily convenience and strong appeal to professionals, families, and international tenants seeking a central Dubai address with minimal commute times to major business and leisure destinations.

AMENITIES & SURROUNDING

Thyme at Central Park is designed as a mid-rise residential building with a focus on blending city living and green space. Residents will have access to a comprehensive suite of amenities, including a swimming pool, gymnasium, spa and sauna, multi-purpose room, outdoor fitness facilities, kids’ play area, barbecue and picnic pavilions, basketball half-court, dog park, and an events area. The building is enveloped by landscaped parkland, providing a sense of retreat within the city. City Walk’s established infrastructure offers immediate access to supermarkets, cafes, restaurants, boutique retail, and medical facilities. The wider Central Park master plan supports a pedestrian-friendly lifestyle, with shaded walkways and direct access to the park, making it attractive for families and those seeking a balance between urban convenience and outdoor leisure.

MARKET

The Meraas brand and City Walk location attract a mix of investors, end-users, and international buyers, with a strong rental market driven by professionals and families seeking centrality and lifestyle amenities. Liquidity in this segment has remained robust, supported by the area’s reputation and ongoing infrastructure improvements. The primary risk point is the broader market’s absorption of new supply in the City Walk corridor. However, the discount to original price and the staged payment plan mitigate some of the entry risk, offering a buffer against short-term market fluctuations. The unit’s park and Burj Khalifa views further enhance its rentability and resale appeal.

CONCLUSION

This distress deal in Thyme at Central Park is best suited to investors seeking exposure to a central Dubai address with a visible discount to prevailing market rates. The combination of a reputable developer, established urban location, and comprehensive amenities positions the asset well for both rental and resale strategies. The payment plan structure reduces the capital outlay on transfer. Key considerations include service charges typical of amenity-rich developments. For buyers seeking a completed unit, this deal offers a pragmatic entry into City Walk’s evolving residential landscape, with the potential for both capital appreciation and rental income as the area continues to mature. The discount is meaningful, but as always, due diligence on future supply is advised before commitment.

Location

THYME — City Walk, Dubai

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Illustrative model

Scenario modeller

Set your own assumptions and see how DISTRESS DEAL: 3-BR IN THYME behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.

Purchase

The price you are considering.

Drives the service charge only.

Rent and service charge both start here.

Holding & income

Your figure. We have not assumed one.

0% holds rent flat. It may be negative.

Your figure — we publish none. A month vacant plus re-letting time is roughly 8%, if that fits your building.

Your figure — we publish none. Letting fees and routine repairs.

Your figure — we publish none. Look your building up on Mollak — rates run AED 3 to AED 30+.

Acquisition costs

4% is the Dubai standard.

Buyer-side. 5% VAT added.

Your figure — we publish none. The trustee tariff is tiered and the admin lines vary by office; ask your trustee office for the total, and add your NOC and any legal quote.

Exit

1 to 40 years.

0% by default: we publish no price forecasts.

5% VAT added automatically.

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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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A discounted unit is bought the same way any other is. The questions are just sharper. These are our own guides and articles on buying from overseas, taking on a resale or an off-plan assignment, and what the purchase costs.

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