DISTRESS DEAL: 2-BR IN THE MURAL

OVERVIEW

This 2-bedroom apartment in The Mural, Maritime City, is offered as a distress deal at AED 4,750,000, reflecting an 8.7% discount from the original price of AED 5,201,040. The unit covers 1,274 sq.ft, giving an entry basis of AED 3,728 per sq.ft. The apartment is positioned on a mid-to-high floor (levels 15–20) and features a sea view and balcony. Handover is scheduled for Q3 2028, with a payment plan that allows for staged payments—AED 2,544,540 due on transfer and AED 2,500,500 on handover. The immediate investment case is a below-market entry into a new-build, sea-facing address in a maturing waterfront district, with the benefit of a structured payment schedule and a visible discount to the developer’s original pricing. The buyer is not exposed to early-stage construction risk, as the project is already underway, and the handover timeline is defined.

LOCATION & TRANSPORT

The Mural is located in Maritime City, specifically within the Jumeirah Peninsula Bay precinct. This area is positioned between Port Rashid and the established Jumeirah coastline, offering a blend of city proximity and waterfront outlook. Maritime City is accessible via Sheikh Rashid Road and is within practical reach of Downtown Dubai, DIFC, and Dubai International Airport. Public transport options are developing, but private car, taxi, and ride-hailing services remain the primary modes of access for residents and tenants. The location is emerging as a new residential and mixed-use hub, with ongoing infrastructure improvements and growing retail and hospitality provision. For investors, this means the area is likely to see continued capital investment and urban development, supporting long-term asset value and tenant demand.

AMENITIES & SURROUNDING

The Mural is a 36-storey residential tower designed by John R. Harris & Partners with architectural consultancy by Benoy. The building will offer a comprehensive amenities package, including an amphitheatre, barbecue areas, children’s playground, co-working space, events area, fitness studio, gym, infinity pool, landscaped gardens, lounge area, multi-purpose room, outdoor gymnasium, picnic pavilions, plunge pool, rooftop terraces, social activity areas, sundeck, and yoga and meditation spaces. The podium level features two pools, a lounging deck, a lawn, and a dedicated BBQ space. Interiors are designed with floor-to-ceiling windows, high ceilings (approx. 3.2 metres), and private balconies to maximise light and sea views. The wider Maritime City district is seeing the rollout of new retail, F&B, and leisure infrastructure, which will support both owner-occupiers and tenants. The area’s coastal setting and planned public spaces are intended to create a balanced urban environment, combining city access with waterfront lifestyle.

MARKET

At AED 3,728 per sq.ft, this unit is positioned above the Dubai-wide average for off-plan apartments but is in line with recent transactions in The Mural and other new-build, waterfront projects. For reference, recent 1-bedroom sales in the building have transacted at AED 3,285–3,529 per sq.ft, indicating that the current pricing for a larger, higher-floor, sea-facing 2-bedroom is not out of step with the project’s trajectory. The key investor question is whether the 8.7% discount to original price provides a sufficient margin to absorb service charges, agency fees, and potential market volatility between now and handover. The area is still maturing, so rental yields and resale liquidity will depend on the pace of district completion and the absorption of new supply. The buyer profile is likely to be a mix of end-users seeking waterfront living and investors targeting medium-term capital appreciation. Risks include construction delays, evolving district infrastructure, and competition from other new launches in Maritime City and neighbouring areas.

CONCLUSION

This distress deal offers an investor a discounted entry into a new-build, sea-facing apartment in an emerging waterfront district, with a clear payment plan and a defined handover timeline. The Mural’s amenity suite and architectural design position it well for both rental and resale demand, provided the wider Maritime City area continues to develop as planned. The main strengths are the below-market pricing, staged payment structure, and the appeal of a high-floor, sea-view layout. The main risks are linked to the district’s ongoing development and the usual uncertainties of off-plan acquisition. For buyers comfortable with a medium-term hold and the dynamics of a growing urban precinct, this deal represents a practical way to secure a future-ready asset at a visible discount to the original developer price.