WHAT IT COSTS TO HOLD
Ellington states an anticipated service charge of AED 17 per square foot for Portside Square, in both the project brief and the slim brochure. It is an anticipated rate rather than a struck one: the figure a building actually charges is set by its owners' association and approved by the regulator after handover, and on a scheme completing in 2029 that is years away.
It is worth putting the rate in context rather than leaving it as a number. Across the Ellington packs we hold, anticipated service charges run from AED 14 per square foot on the smaller Jumeirah Village schemes to AED 22 on Claydon House and Ellington Beach House. AED 17 sits in the middle of that band, and the amenity load here explains where it sits: three tower lobbies, a four-storey amenities pavilion with a gym, a spa suite, a clubhouse and a cinema lounge, a leisure pool and kids' pool, a running track, amphitheatre seating and landscaped garden decks, all maintained for 408 homes.
Service charges come straight off net yield, so treat any yield you calculate on this building as gross until the rate is struck. Ask for the written anticipated-charge statement before you reserve, and ask what is inside it — chilled water, for instance, is billed separately in many Dubai buildings and is not always inside the per-square-foot rate.
THE BUILDING AND ITS AMENITIES
The amenity offer at Portside Square is concentrated in a standalone pavilion rather than spread thinly across the three towers, which is the more usable arrangement and also the more expensive one to run.
Ground floor. Arrival and drop-off, three tower lobbies with reception, lounge and communal table, lift lobbies, bicycle parking, EV charging, accessible parking, a pavilion and retail drop-off, and outdoor seating along the frontage.
Podium floor. Garden areas, outdoor yoga, outdoor seating, and access up to the pool deck.
First floor. A leisure pool with a baja shelf, a kids' pool, sun loungers and cabanas, a running track, an outdoor fitness area, a shaded outdoor kids' play area, a flexible lawn, amphitheatre seating and garden areas.
The pavilion, over four levels. Ground: entrance lobby, lounge, and a cinema and games lounge with darts, billiards, foosball, air hockey and arcade machines. First: a spa suite with male and female sauna, steam and aromatherapy rooms, aqua cycling, hot and cold plunge, a yoga area, a pilates area, co-working pods, a kids' play area and a nursing and changing room. Second: a fitness studio with a free-weights zone, strength training, cable station, TRX, cardio and circuit stations, and a juice bar. Third: a clubhouse with a lounge, dining table, show bar, shuffleboard and games table, opening onto the pool deck.
Ellington's own architectural framing is that the towers' façades "draw inspiration from the natural rhythm of wind and water", with gentle curves rippling across the skyline. The building configuration diagram gives the floor-to-floor heights: 4.0 metres at podium level, 4.1 metres on the first floor and 3.6 metres on every typical floor above it — a useful number, because floor-to-floor height is what determines ceiling height once slab and services are taken out, and it is rarely published.
LOCATION — MINA RASHID
Mina Rashid opened in 1972 as Dubai's first commercial port and has been redeveloped into a marina, cruise terminal and waterfront district. The Queen Elizabeth 2 is moored there permanently as a hotel, and Ellington's own driving-distance page puts it one minute from the scheme.
| Destination |
Drive time as stated by Ellington |
| Queen Elizabeth 2 |
1 minute |
| Mina Rashid Marina |
2 minutes |
| Sheikh Zayed Road |
6 minutes |
| Dubai World Trade Centre |
10 minutes |
| Downtown Dubai, The Dubai Mall and Burj Khalifa |
10 minutes |
| Dubai International Airport (DXB) |
10 minutes |
| Dubai International Financial Centre |
14 minutes |
| Mall of the Emirates |
18 minutes |
| Dubai Islands |
20 minutes |
| Palm Jumeirah |
20 minutes |
| Dubai Marina |
25 minutes |
| Al Maktoum International Airport (DWC) |
40 minutes |
Ellington Properties, Portside Square project brief. These are the developer's own stated drive times and are not independently measured here.
Ellington's map additionally marks Dubai Festival City, Dubai Creek Harbour, Ras Al Khor Wildlife Sanctuary, the Dubai Frame, Al Fahidi Historical Neighbourhood, the Dubai Gold Souq, Deira, Al Karama, Oud Metha and Dubai Maritime City in the immediate orbit. The location's real characteristic is that it is a genuinely central address that most buyers do not think of as one: ten minutes from both Downtown and the airport is a combination that very little of the rest of Dubai offers, and it is the consequence of Mina Rashid sitting inside the old city rather than out along the new corridors.
THE INVESTMENT CASE
Portside Square is an off-plan brief on a scheme completing in 2029, published without a developer price. Most of what follows is therefore qualitative, and it is better to say so than to dress it up.
APPLICABLE STRATEGIES
- Ground-floor trading space on a marina frontage. Five measured plates between 888 and 3,896 square feet, two of them with terraces over 550 square feet, in a scheme delivering 408 homes directly above. For an operator this is a captive residential catchment plus promenade footfall; for an investor it is a strata trading unit in a district with a cruise terminal in it. The mechanical provision is the gate, and it is not published — get it in writing first.
- Pre-handover resale. A 70/30 plan means 70% of the price is committed before completion, which is a heavier construction-period commitment than the 50/50 plans common elsewhere, and correspondingly less of the price is deferred. Any premium at exit depends on the market in 2029 and on how much of Portside Square's own 408 homes is competing with you at the same moment.
- Buy-and-hold for rental. Plausible on a central address ten minutes from Downtown, but untestable from this page: we hold no rental evidence for Portside Square, because the building does not exist. Any yield quoted to you should be traced to its rent source and its price source separately before you rely on it.
- Owner-occupation on a central address. Ten minutes to Downtown and ten to the airport, on a marina, is a combination that is genuinely scarce. If you are buying to live in it, that is the product.
RISKS & WATCHPOINTS
- No published price of any kind. Ellington has issued no list, no range and no starting figure. Every price you are quoted for this scheme today is somebody's word, and it should be confirmed in writing against Ellington's own release before you act on it.
- Completion is more than three years out. Q4 2029 is Ellington's anticipated date, not a contractual one. The sale and purchase agreement governs, and off-plan dates move.
- A heavy one-bedroom concentration. 171 of the 408 homes are one-bedroom apartments, 42% of the scheme, and a further 54 are studios. On resale and on rental you are competing with a large number of near-identical units in your own development.
- Three towers delivering at once. All 408 homes complete in the same window, into the same district. That is the supply you will be selling or letting against.
- The service charge is anticipated, not struck. AED 17 per square foot is a forecast for a building that will not be handed over for years, and the amenity load is substantial. Treat any yield as gross until the rate is set.
- The retail units publish no mechanical provision. No clear heights, no cooling loads, no gas, no extract, no fresh air. For an F&B operator those four are the deal, not the area.
- There is an office tower in the elevations and nowhere else. Ellington's own elevation drawings show an OFFICE TOWER beside the three residences. Nothing else in the pack describes it. If you are buying here, establish what it is, when it delivers and who owns it before you model the view or the traffic.
- Ellington publishes three areas per home and no built-up area. Internal, outdoor and total, with the outdoor share running from 7.3% to 22.2%. Any rate you compare against another project must be on the same basis, and Ellington's basis is not the same as the Land Department's recorded property size.