1-Bedroom Sea View Apartment at The Pier Residences, AED 450K Below OP

Property Overview

This 1-bedroom off-plan apartment at The Pier Residences in Dubai Maritime City is offered at AED 1,300,000 for 694 sq ft, about AED 1,873 per sq ft. The asking price is AED 450,000, or 25.7%, below the agent-stated original purchase price of AED 1,750,000. The unit is on a high floor with sea views, and handover is stated for Q2 2027.

Property Highlights

• Property type: apartment
• Bedrooms: 1
• Size: 694 sq ft (agent-stated)
• Asking price: AED 1,300,000
• Original purchase price: AED 1,750,000 (agent-stated)
• Saving: AED 450,000 (25.7%)
• Price per sq ft: about AED 1,873
• Floor: high floor (agent-stated)
• View: sea view (agent-stated)
• Handover: Q2 2027 (agent-stated)
• Developer: LMD

Why the Price Qualifies as Below OP

The agent states an original purchase price of AED 1,750,000 and an asking price of AED 1,300,000, a difference of AED 450,000. That is 25.7% of the original price and matches the agent's stated AED 450,000 reduction.

This is a large discount for an off-plan resale. The stated original price works out to about AED 2,522 per sq ft for this 694 sq ft unit. Buyers should confirm the original price, the amount already paid to the developer and the outstanding balance from the seller's SPA and statement of account before relying on the discount. The comparison is against the seller's own purchase price, not a dated DLD transaction or independent valuation.

About the Project, Developer and Community

The Pier Residences is a waterfront residential development by LMD in Dubai Maritime City, with around 274 one- to three-bedroom apartments and expected completion in Q2 2027. Project materials list overflow pools, a rooftop lounge, fitness centre, yoga room, jogging track, padel court, indoor play area and smart-home features.

Dubai Maritime City is a man-made peninsula between Port Rashid and Dubai Drydocks, being developed as a mixed-use waterfront district with residential towers, marine services and hospitality.

Layout, Floor and View

The agent states a 694 sq ft 1-bedroom layout on a high floor with sea views. The exact floor, bathrooms, parking and whether the view is full or partial were not supplied. Request the floor plan and SPA unit details before an offer.

Payment Plan and Handover

The agent states handover in Q2 2027, consistent with the project's expected completion. The amount the seller has paid, the remaining instalments and LMD's resale conditions were not supplied. Confirm these in the SPA and statement of account.

Location and Connectivity

Dubai Maritime City connects to the city via Al Mina Road and Sheikh Rashid Road, near Port Rashid, Al Mina and Bur Dubai. DPF has not verified specific travel times for this unit.

Verification Notes

• Agent-supplied: project, community, bedrooms, size, high floor, sea view, off-plan resale status, original price, asking price and handover.
• Calculated by DPF: AED 450,000 saving (25.7%) and about AED 1,873 per sq ft.
• Researched: developer, unit count, expected completion and amenities from project references.
• Not supplied: exact floor, bathrooms, parking, amount paid and remaining payment schedule.