This studio apartment in Safa Two, developed by DAMAC in partnership with De Grisogono, is offered as a distress deal at AED 995,000. The original price for this unit was AED 1,200,000, representing a 17.1% discount or AED 205,000 below the initial reference. With a size of 477 sq.ft, the entry price equates to approximately AED 2,086 per sq.ft. The apartment is fully furnished, features a balcony, and is positioned on a mid-high floor (levels 20–25) with canal views. Handover is scheduled for Q2 2027, and the payment plan allows for staged payments through to completion. The immediate investment thesis is a below-market entry into a branded, design-led project in a central Dubai corridor, with the potential for both capital appreciation and rental yield once the building is operational.
SAFA TWO · Business BayDAMAC · Business Bay
DISTRESS DEAL: STUDIO IN SAFA TWO
- Unit
- STUDIO
- Size
- 477 sq.ft
- Developer
- DAMAC
- Handover
- Q2 2027
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 24 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
- Payment to sellerAED 677,650
- DLD Transfer fee 4% + 40 AEDAED 39,840
- DLD Registration Trustee fee + 5% VATAED 5,250
- Buyer's agent commission 2% + 5% VATAED 20,895
- Total on transferAED 743,635
- 03-MAY-2026AED 43,275
- 01-AUG-2026AED 43,275
- 30-OCT-2026AED 40,390
- 28-JAN-2027AED 40,390
- 28-APR-2027AED 34,620
- On HandoverAED 115,400
- Total remaining payment planAED 317,350
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Floor plan
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Safa Two occupies a prominent site in Business Bay, directly on Sheikh Zayed Road. This location is significant for both visibility and connectivity. Residents benefit from direct access to Dubai’s main arterial road, which links the area efficiently to Downtown Dubai, DIFC, Dubai Marina, and the wider city. Public transport options include nearby metro stations and extensive bus routes, while taxis and ride-hailing services are readily available. The Business Bay address appeals to a broad tenant base, including professionals working in the city’s commercial hubs and those seeking proximity to leisure and retail destinations. For investors, this central position supports both rental demand and resale liquidity, as Business Bay continues to attract both local and international buyers looking for convenience and urban lifestyle.
AMENITIES & SURROUNDING
Safa Two is designed as an 87-storey residential tower with a strong emphasis on branded living and high-impact amenities. The project is developed in collaboration with De Grisogono, a Swiss luxury jewellery and watch brand, which influences both the design language and the amenity offering. Notable features include a signature “sapphire” infinity pool suspended between the two halves of the building at the 64th floor, an artificial beach pool on the 11th floor, and a “Fog Forest” observatory and Edge Walk attraction on the 85th floor. Residents will have access to landscaped gardens, multiple swimming pools, fitness facilities, and F&B outlets. The building’s transformative living spaces, with movable walls, offer flexibility in layout, while the surrounding Business Bay district provides established retail, dining, and leisure infrastructure. The area is also known for its proximity to Dubai Canal, parks, and waterfront promenades, supporting both lifestyle and rental appeal.
MARKET
At AED 2,086 per sq.ft, this studio is priced below the original launch reference and sits competitively within the branded residence segment of Business Bay. Branded projects, especially those with international partners like De Grisogono, often command a premium over standard residential stock, due to perceived quality, amenity depth, and brand association. The studio format is typically attractive to both investors seeking rental yield and end-users prioritising location and amenities over size. With handover scheduled for 2027, the main risk is construction and delivery timing, but DAMAC’s track record and the project’s advanced construction status provide some mitigation. Rental demand in Business Bay remains robust, particularly for furnished, well-located studios, and the branded aspect may support higher achievable rents. Liquidity is supported by the central location and the ongoing appeal of branded, amenity-rich towers to both local and international buyers. However, investors should account for service charges, potential competition from new launches, and the broader market cycle at handover.
CONCLUSION
This Safa Two studio offers an investor a discounted entry into a branded, design-led project in one of Dubai’s most active corridors. The 17.1% discount to original price, staged payment plan, and fully furnished handover position the deal as a practical option for those seeking exposure to the Business Bay market with a manageable capital outlay. The main considerations are the off-plan delivery timeline and the need to underwrite service charges and future competition. For buyers comfortable with the construction phase and seeking a branded product with strong amenity backing, this unit provides a balanced case for both rental and resale strategies. The deal is best suited to investors prioritising location, brand association, and payment flexibility, with a clear understanding of the risks and rewards attached to off-plan, high-amenity Dubai residential assets.
Location
SAFA TWO — Business Bay, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: STUDIO IN SAFA TWO 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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