The tower is currently under maintenance and vacant, with no tenants. The seller states this, and it governs the purchase.
The asset is a residential tower in Dubai Marina, approximately 17 years old by the seller's account, with 150 residential apartments and 5 commercial units over 3 podium floors and 34 residential floors. The seller states that no NOC is required (freehold) and asks AED 400,000,000. Every figure on this page is the seller's, as given.
THE ASKING PRICE — AED 400,000,000
The asking price is AED 400,000,000 for the tower. It is the price the seller is asking, not a price anything has traded at.
Because the tower is vacant and under maintenance, there is no current income to set against it. Title, the scope and state of the maintenance works, the registered areas against those stated above, and the service charge position are established by the buyer's own advisers before an offer is priced. Mitchell's publishes no valuation of this asset, and no transaction comparable, price band or rental benchmark is cited on this page.


