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PAYMENT PLAN
UNIT PRICE | AED 7,500,000 |
PAYMENTS ON TRANSFER
1. Payment to seller | AED 3,480,086 |
2. DLD Transfer fee 4% + 40 AED | AED 300,040 |
3. DLD Registration Trustee fee + 5%VAT | AED 5,250 |
4. Buyer's agent comission 2% + 5%VAT | AED 157,500 |
PAYMENT PLAN SCHEDULE
On completion of 70% Construction of The Project | AED 401,991 |
On Handover | AED 3,617,923 |
SUMMARY
Total on Transfer | AED 3,942,876 |
Total remaining Payment Plan | AED 4,019,914 |
TOTAL COST FOR BUYER | AED 7,962,790 |
PROJECT DESCRIPTION
OVERVIEW
This two-bedroom apartment in Ocean House, Palm Jumeirah, is offered as a distress deal at AED 7,500,000. The original price, including DLD fees, was AED 8,361,600, so the current position reflects a 10.3% discount, or AED 861,600 below the original acquisition cost. The unit covers 1,643 sq.ft, placing the entry basis at AED 4,565 per sq.ft. This is a low-floor apartment with Dubai Marina and amenities views, and handover is scheduled for Q4 2026. The developer is Ellington, known for design-led, mid-rise projects in Dubai’s prime areas. The immediate investment thesis is a below-original-price entry into a branded, off-plan Palm Jumeirah address, with a payment plan structure that reduces upfront capital outlay. The buyer is not exposed to early-stage construction risk, as the project is already underway, and the discount provides a buffer against current market pricing for similar stock.
LOCATION & TRANSPORT
Ocean House is located on the Palm Crescent of Palm Jumeirah, one of Dubai’s most recognised addresses. The Crescent position provides panoramic views and a sense of separation from the city, while still being accessible via the main Palm trunk road. Residents can connect to Sheikh Zayed Road within 10–15 minutes by car, and Dubai Marina, Media City, and JBR are all within practical reach. Public transport options on the Palm are limited, so private vehicles, taxis, and ride-hailing services are the main modes of transport. For investors, this means the address will appeal to end-users and tenants who value privacy and views, but who are comfortable with a car-based lifestyle. The Crescent location also supports a more resort-like environment, which can be attractive for both long-term residents and short-stay tenants.
AMENITIES & SURROUNDING
Ocean House is designed as a high-amenity, mid-rise residential project. Planned facilities include a large swimming pool, children’s pool, wellness centre, fitness studios, yoga deck, aromatherapy experience shower, salt cave, cigar room, cinema room, co-working space, library, games room, meeting room, rooftop garden, pool cabanas, sun loungers, kids’ play area, and visitor parking. The building’s architectural identity is focused on fluid lines and natural materials, aiming to create a calm, contemporary environment. The surrounding Palm Crescent is home to several other branded residences and hotels, with easy access to the Palm’s beaches, Nakheel Mall, and a range of dining and leisure options. The area’s infrastructure is mature, with established road links and retail provision, supporting both owner-occupiers and tenants who expect a full-service lifestyle environment.
MARKET
At AED 4,565 per sq.ft, this unit is priced below recent transaction levels for comparable two-bedroom apartments in Ocean House, where deals in early 2026 have been recorded at AED 5,100–5,470 per sq.ft for similar sizes. This positions the deal as a genuine discount to the latest market evidence, with the added benefit of a payment plan and a staged capital commitment. The Palm Jumeirah market remains liquid for branded, design-led stock, particularly where the product is new and the developer has a credible track record. Rentability is supported by the Palm’s ongoing appeal to both residents and short-stay tenants, though yields are typically mid-single digits and service charges can be material. The main risk points are construction completion, market absorption at handover, and the potential for further supply in the branded segment. However, the discount to recent transactions provides a margin of safety for buyers focused on entry price and resale flexibility.
CONCLUSION
This distress deal in Ocean House offers an investor a below-market entry into a new, design-focused Palm Jumeirah address with a practical payment plan and a clear discount to both original and recent transaction prices. The project’s amenity set and Crescent location support its appeal to a broad tenant and buyer pool, while the Ellington brand adds credibility on delivery and finish. The main considerations are construction risk and future market conditions at handover, but the current pricing provides a meaningful buffer. For buyers seeking Palm Jumeirah exposure without paying full market rates, this deal presents a balanced case: a staged capital outlay, a credible developer, and a product that aligns with the ongoing demand for branded, high-amenity living in Dubai’s most established waterfront district.