DISTRESS DEAL: 2-BR IN OCEAN STAR

Ocean Star Overview

Ocean Star is a residential multi building complex under development within Rashid Yachts and Marina in Port Rashid, Bur Dubai, Dubai, United Arab Emirates. The project forms part of the wider Mina Rashid waterfront redevelopment led by Emaar Properties through its subsidiary Mina Rashid Properties. The development comprises two mid rise buildings known as Ocean Star Building 1 and Ocean Star Building 2, each rising seven storeys above ground level. Upon completion the complex is expected to contain approximately 154 residential units arranged across one, two and three bedroom layouts. The project represents a marina oriented residential component within the broader maritime themed district that is being constructed along the historic Port Rashid waterfront. Units currently offered below prevailing area averages are considered distressed assets due to below market pricing relative to comparable waterfront developments.

Location And Urban Context

Ocean Star is located within Rashid Yachts and Marina, a large scale waterfront master community positioned in Port Rashid along the coastline north west of central Dubai. The development sits within the Bur Dubai district which forms one of the citys oldest urban areas along Dubai Creek. Rashid Yachts and Marina is designed as a luxury marina district anchored around yacht berths, promenades, hospitality venues and residential buildings. The site lies close to the intersection of Al Mina Road and Sheikh Rashid Road which connect the area to Downtown Dubai, the Dubai International Financial Centre and the Sheikh Zayed Road corridor. Bur Dubai immediately to the south provides established urban infrastructure including retail, government offices, schools and hospitals while the coastline to the west leads toward Jumeirah and La Mer beachfront districts.

Development Structure

The Ocean Star development consists of two primary residential buildings positioned within landscaped plots overlooking marina related water features and internal community spaces. Each building rises seven floors and is designed with balconies and waterfront facing elevations intended to maximise overlooking views toward landscaped courtyards and water elements. According to officially published information, the project will contain an estimated 154 apartments divided across a range of one bedroom, two bedroom and three bedroom configurations. Apartment layouts are intended to include open kitchen arrangements, private balconies and integrated storage spaces. Larger units incorporate en suite bathrooms and dedicated wardrobe areas. The architecture uses a contemporary format with curved balcony corners and chamfered edges combined with metal railings and light coloured façade materials typical of recent Emaar coastal communities.

Developer And Master Plan

The development is being delivered by Emaar Properties, one of the United Arab Emirates largest publicly listed property developers and the master developer behind communities such as Downtown Dubai, Dubai Marina and Dubai Creek Harbour. Ocean Star forms part of the Mina Rashid master plan redevelopment which repurposes the historic commercial port into a mixed use waterfront district. The master plan introduces residential, retail, hospitality and marina infrastructure across a network of waterfront promenades and public spaces. Within this framework Ocean Star occupies a residential cluster within the Rashid Yachts and Marina sub district, intended to serve the marina community and surrounding leisure amenities. According to records cited by the Dubai Land Department the project has an estimated total value of AED 157006000.

Amenities And Community Infrastructure

Ocean Star residents are expected to have access to a range of shared facilities integrated into the residential complex and surrounding marina community. Planned amenities include swimming pools, outdoor fitness zones, sports facilities and landscaped parks. Additional communal spaces include barbecue areas, outdoor games zones and social seating areas integrated into landscaped courtyards. Retail and dining venues are planned within the wider Rashid Yachts and Marina district providing daily convenience services as well as marina front restaurants. Other facilities documented for the development include a gymnasium, tennis court and waterfront walkways connected to broader pedestrian networks throughout the marina environment. A central canal style pool and landscaped gardens form focal community features linking the residential buildings with surrounding leisure infrastructure.

Transport And Connectivity

Ocean Star benefits from road connectivity to several of Dubais primary transport corridors. By car the development is approximately 17 minutes from Dubai Mall in Downtown Dubai, around 28 minutes from Palm Jumeirah and roughly the same driving time from the Burj Al Arab area in Umm Suqeim. The Walk at Jumeirah Beach Residence is typically reached within about 33 minutes under normal traffic conditions. Dubai International Airport is located approximately 17 minutes away providing direct international connectivity, while Al Maktoum International Airport at Dubai World Central lies approximately 51 minutes to the south west. The surrounding Bur Dubai area is served by multiple major road networks including Sheikh Rashid Road and Al Mina Road enabling access toward Deira, Karama, Satwa and the Dubai World Trade Centre district.

Nearby Infrastructure And Landmarks

The immediate environment around Port Rashid contains a range of cultural, leisure and educational facilities. Nearby attractions include the historic Queen Elizabeth 2 floating hotel located approximately 0.8 kilometres away, Dubai Heritage Village around 1.7 kilometres from the site and Dubai Museum located roughly 2 kilometres within Al Fahidi Historic District. Parks within short driving distance include Maritime City Park, Zabeel Park and the landscaped public spaces associated with Jumeirah Garden City. Cinemas and shopping facilities exist nearby at City Centre Al Shindagha and BurJuman Mall. Educational institutions close to the development include New Academy School in Bur Dubai approximately 0.6 kilometres away and Ambassador School located roughly 1.3 kilometres away in Al Mankhool. Additional schooling options exist across Karama, Satwa and Oud Metha including several institutions rated Very Good or Outstanding by the Dubai school inspection authority.

Construction Timeline

Published development milestones indicate that the project entered early trace and planning phases during March 2024 with an estimated construction start during July 2024. The anticipated handover date for completed units is July 2028 subject to construction progress and regulatory approvals. Like many off plan projects in Dubai the development was launched with a staged payment structure consisting of a 10 percent booking deposit followed by 80 percent during the construction period and the final 10 percent payable at completion and handover.

Investment Context

Ocean Star sits within the emerging Rashid Yachts and Marina waterfront which is positioned as a residential marina district linking historic Port Rashid with central Dubai. Pricing within early transaction records ranges across one, two and three bedroom apartments depending on size and building placement. Units offered substantially below comparable marina front developments are commonly classed within the Dubai real estate sector as distressed assets due to below market pricing conditions. Such pricing structures may arise from resale, investor liquidation or off plan timing factors and therefore represent lower entry points compared with similar waterfront buildings elsewhere along Dubais coastline.

Urban Role Within Bur Dubai

The project contributes to the broader transformation of Port Rashid from an industrial maritime port into a mixed use waterfront district combining tourism, marina infrastructure and residential housing. Its location within Bur Dubai places it close to historic neighbourhoods along Dubai Creek while remaining within commuting range of Downtown Dubai, DIFC and Jumeirah. This combination of historic proximity and new marina infrastructure positions the Ocean Star development as part of Dubais ongoing coastal regeneration strategy linking heritage areas with contemporary waterfront communities.