1 Bedroom in Lum1nar Tower 3 by Object 1, JVT at 27.6% Below Original Purchase Price

Property Overview

This 1-bedroom apartment in Lum1nar Tower 3 by Object 1, Jumeirah Village Triangle, is available as a distress off-plan resale at AED 800,000. The asking price represents a saving of AED 305,708 (27.6%) against the agent-stated original purchase price of AED 1,105,708. This is a significant discount, with the seller absorbing a total loss of approximately AED 349,936 including DLD fees. Handover is expected in Q1 2027.

Property Highlights

• Type: 1-bedroom apartment
• Asking price: AED 800,000
• Original price: AED 1,105,708
• Saving from OP: AED 305,708 (27.6%)
• Seller total loss including DLD: approximately AED 349,936 (30.4%)
• Handover: Q1 2027
• Status: off-plan resale (14% complete)
• Ownership: freehold

Why the Price Qualifies as Below OP

The agent states the original purchase price for this unit was AED 1,105,708. The current asking price of AED 800,000 is AED 305,708 lower, a reduction of 27.6% from the original contract value. The agent's own calculation of 27.65% aligns with the arithmetic (305,708 / 1,105,708 = 27.65%, rounded to 27.6% at one decimal).

The OP of AED 1,105,708 is a precise figure consistent with a contract price, adding credibility. It should still be confirmed against the seller's SPA.

Seller Total Loss Including DLD

The seller paid a 4% DLD transfer fee on the original purchase, estimated at approximately AED 44,228. Adding this to the original price gives an all-in cost of approximately AED 1,149,936. The asking price of AED 800,000 represents a total seller loss of approximately AED 349,936, or 30.4% of their total investment. The seller is absorbing nearly one-third of their total outlay, indicating significant financial pressure.

Market Context

The asking price is well below all current market benchmarks for 1-bedroom apartments in Lum1nar Tower 3:

• Average 1BR asking price: approximately AED 1,148,000
• Current 1BR listing range: AED 850,000 to AED 1,180,000
• Lowest current 1BR listing: AED 850,000
• Average 1BR DLD transaction price (12 months): approximately AED 1,005,000
• Average overall DLD transaction price (39 sales): approximately AED 1,144,000
• Asking price trend: up 4% over the past 6 months

This listing at AED 800,000 is AED 50,000 below the lowest currently listed 1BR in the building, AED 348,000 below the average 1BR asking price and AED 205,000 below the average 1BR DLD transaction price. The 4% upward trend in asking prices makes the seller's decision to exit at this depth of loss all the more notable. This is one of the deepest percentage discounts in the Lum1nar complex.

Unit Size Not Stated

The agent brief does not specify the built-up area for this unit. One-bedroom apartments in Lum1nar Tower 3 range from 701 to 1,359 sq ft based on Bayut building data. The most common 1BR configuration appears to be approximately 701 sq ft based on current listings, though larger 1BR variants of 847 sq ft and above are also offered. Buyers should confirm the exact unit size, type and floor plan with the seller.

Payment Plan and Buyer Structure

Object 1 offers two payment plan options for Lum1nar Tower 3:

• Option 1: 30% booking, 30% during construction (3 instalments) and 40% on handover
• Option 2: 30% booking, 25% during construction (3 instalments), 5% on handover and 40% post-handover (8 instalments)

As this is a resale, the buyer would take over the remaining payment obligations from the seller. The amount already paid by the seller was not disclosed in the brief. At AED 800,000, the 40% handover or post-handover portion equals AED 320,000, providing significant payment flexibility for the buyer.

Buyers should request the seller's full payment history and Object 1's confirmation of the remaining instalment schedule before committing. They should also confirm whether the post-handover option (Option 2) is available for this resale unit, as the developer may require specific terms for assignment transfers.

About Lum1nar Tower 3

Lum1nar Tower 3 is a residential tower by Object 1 (Object One Real Estate Development) in JVT District 2, Jumeirah Village Triangle, Dubai. The tower has 25 residential floors and 5 dedicated parking levels, offering studios, 1, 2 and 3-bedroom apartments. One-bedroom units range from 701 to 1,359 sq ft.

Lum1nar Tower 3 is part of the wider Lum1nar Towers complex, which comprises three towers in JVT District 2. Tower 1 (196 units, 33% complete, Q4 2026 handover) and Tower 2 are the companion buildings. Tower 3 was launched later and is at an earlier stage of construction.

The development features a contemporary design with matte glass panels, wood accents and dark finishes. All units include smart home technology as standard.

Amenities

Lum1nar Tower 3 features a swimming pool, kids pool, gymnasium, yoga deck, clubhouse, BBQ area, outdoor lounge, pool deck with sun loungers, entertainment room, kids play area, landscaped gardens, covered parking and 24/7 security.

Construction and Handover

Construction is approximately 14% complete as of the most recent Bayut data. Property Finder data from December 2025 recorded 7.16% completion. Handover is expected in Q1 2027, with some sources indicating Q2 2027 (June 2027). The project has recorded 39 DLD transactions, confirming active buyer interest despite the relatively early construction stage. The initial allocation has been reported as sold out.

Location and Connectivity

Lum1nar Tower 3 is situated in JVT District 2, Jumeirah Village Triangle, a residential community in the Al Barsha South area of Dubai. The location offers the following connectivity:

• Sheikh Mohammed Bin Zayed Road (E311): direct access
• Al Khail Road (E44): nearby
• Dubai Marina: approximately 15 minutes
• Downtown Dubai: approximately 20 minutes
• Dubai International Airport: approximately 25 minutes
• Mall of the Emirates: approximately 10 minutes

JVT is an established mid-market residential community with a mix of apartment towers, townhouses and villas. It benefits from a central location between the major employment and leisure districts of Dubai, with good road connectivity and access to schools, healthcare and retail within the community.

Verification Notes

Unit-specific facts including 1-bedroom configuration, asking price and original purchase price are sourced from the agent's brief received on 28 September 2026. The agent states the unit is 27.65% below original, which is confirmed arithmetically: (1,105,708 minus 800,000) divided by 1,105,708 equals 27.649%, rounded to 27.6% at one decimal. The OP of AED 1,105,708 is precise enough to indicate a contract figure. Bayut data shows current 1BR listings in Lum1nar Tower 3 ranging from AED 850,000 to AED 1,180,000, with an average of approximately AED 1,148,000. DLD data records an average 1BR transaction price of approximately AED 1,005,000 across 39 total transactions. At AED 800,000, this listing is AED 50,000 below the lowest current 1BR listing. The unit size (sqft), floor, view, unit type, bathroom count, parking and furnishing status were not stated in the brief and have been omitted. The amount paid by the seller toward the payment plan was not disclosed. The original purchase price of AED 1,105,708 should be confirmed against the seller's SPA.