This bulk opportunity comprises five apartments in Highgrove by Ellington, offered at AED 12,100,000. The combined reference price for these units is AED 14,370,865, which means a discount of AED 2,270,865, or 15.8% below the original price. The total area across the five apartments is 5,812 sq.ft, resulting in an entry basis of approximately AED 2,082 per sq.ft. The mix includes two one-bedroom, two two-bedroom, and one three-bedroom apartment, all positioned on higher floors (25–30), with balconies and a variety of views. Handover is scheduled for Q1 2028, and the payment plan allows for staged payments through construction and on completion. The immediate investment thesis is a below-market, multi-unit entry into a branded Ellington project in MBR City, with the flexibility to hold, lease, or resell individual units as the project nears completion and matures post-handover.
HIGHGROVE · MBR CityEllington · MBR City
DISTRESS DEAL: BULK DEAL - 5 APARTMENTS IN HIGHGROVE
- Unit
- BULK DEAL - 5 APARTMENTS
- Size
- 5,812 sq.ft
- Developer
- Ellington
- Handover
- Q1 2028
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available when we last checked on 17 September 2026. The asking price shown is the one published when the listing was added on 21 May 2026, 119 days before that check, and it is not re-checked against the market automatically. A listing this old should be treated as indicative — confirm with us that it is still available and still at this price before you act on it.
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The numbers
Payment breakdown
- Payment to sellerAED 5,190,940
- DLD Transfer fee (4% of OP + 40 AED)AED 552,766
- DLD Registration Trustee fee + 5%VATAED 5,250
- Buyer's agent commission 2% + 5%VATAED 254,100
- Total on transferAED 6,003,056
- On completion of 20% construction of the ProjectAED 690,905
- On completion of 30% construction of the ProjectAED 690,905
- On completion of 40% construction of the ProjectAED 690,905
- On completion of 50% construction of the ProjectAED 690,905
- On HandoverAED 4,145,440
- Total remaining payment planAED 6,909,060
Ask us to walk through this schedule, or to confirm the current balance with the developer before terms are agreed.
Ask about these termsDistress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Highgrove is located in Meydan Horizon, within Mohammed Bin Rashid City (MBR City), one of Dubai’s largest and most strategically positioned master developments. The area is well connected to the wider city, with direct access to Al Khail Road and proximity to Downtown Dubai, Business Bay, and Dubai International Airport. Public transport options are developing, but the area is primarily car-oriented at present, with ride-hailing services widely used. For residents and tenants, the location offers a balance between city access and a quieter, master-planned environment. Investors should note that as infrastructure and retail offerings in MBR City continue to grow, the area’s connectivity and appeal are expected to strengthen, supporting both rental and resale demand over time.
AMENITIES & SURROUNDING
Highgrove by Ellington is designed as a high-amenity residential tower, with 36 storeys and a range of shared facilities. Residents will have access to an infinity-edge leisure pool, fitness studios, a two-storey clubhouse, cinema, barbecue areas, children’s play zones (indoor and outdoor), a dog park, pet grooming salon, yoga and meditation spaces, and a sky dining deck with city views. The project also features a crystal-clear lagoon, offering a water-centric lifestyle within the community. Retail areas, gardens, and observation decks further enhance the living environment. The broader MBR City master plan includes parks, schools, and retail centres, with ongoing development expected to bring additional infrastructure and lifestyle options to the area as it matures.
MARKET
At an average of AED 2,082 per sq.ft, this bulk deal sits below recent transaction levels in Highgrove, where one-bedroom units have transacted at AED 2,379–2,763 per sq.ft in 2026. The discount is therefore tangible against both the developer’s original pricing and current market evidence. The mix of unit types (1BR, 2BR, 3BR) provides flexibility for an investor to target different tenant and buyer profiles, from singles and couples to small families. Ellington’s brand positioning and amenity offering typically attract end-users and long-term tenants seeking design-led living, which can support rentability. Liquidity for bulk deals may be lower than for single units, but the option to resell individually post-handover can mitigate this. Key risk points include construction and handover timing, service charge levels, and the pace of area infrastructure delivery. However, the below-market entry and staged payment plan reduce upfront capital risk and provide time for the area’s value proposition to mature.
CONCLUSION
This bulk acquisition in Highgrove by Ellington offers a discounted, multi-unit entry into a branded project within MBR City, one of Dubai’s most ambitious master-planned communities. The 15.8% discount to original price, below-market price per sq.ft, and flexible payment plan create a clear investor case, especially for those looking to diversify across unit types or build a rental portfolio. The main considerations are construction risk, service charges, and the evolving nature of the surrounding area. For investors comfortable with off-plan exposure and seeking a mid-term hold with potential for both rental income and capital appreciation, this deal provides a structured, value-led entry point. The fundamentals of the offer are grounded in a visible discount and a maturing location.
Location
HIGHGROVE — MBR City, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: BULK DEAL - 5 APARTMENTS IN HIGHGROVE 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 119 days old when we last checked this listing on 17 September 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.
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 12,838,100 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 11,845,900 | AED 11,845,900 |
| Years 1–5 | AED 0 | AED 11,845,900 | AED 11,845,900 |
| Less the year-0 outflow of AED 12,838,100 → total profit | −AED 992,200 | ||
Exit at year 5: illustrative sale price AED 12,100,000 less selling costs AED 254,100 = AED 11,845,900 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 9.36M | — | — | — |
| −3% p.a. | AED 10.4M | — | — | — |
| 0% p.a.your figure | AED 12.1M | — | — | — |
| 3% p.a. | AED 14M | — | — | — |
| 5% p.a. | AED 15.4M | — | — | — |
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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