1BR Apartment in Seascape, Mina Rashid, Off-Plan Distress, Pool and Community View, 80% Paid

Property Overview

A 1BR apartment is available in Seascape, Mina Rashid, Dubai. The unit provides 775 sqft of built-up area on a low floor with pool and community views. The asking price is AED 1,500,000 (AED 1,935 per sqft). The agent describes this as a distress deal. The seller has paid 80% of the purchase price on the 80/20 payment plan, with the remaining 20% handover payment due on 30 November 2026. No original purchase price was stated.

Seascape is a four-building low-rise development by Emaar Properties within the Rashid Yachts and Marina district at Mina Rashid. The agent did not specify which of the four buildings this unit is in.

Deal Analysis: Off-Plan Distress

No original purchase price was provided, so a specific discount percentage cannot be calculated. The distress classification is based on the agent's description and the pricing context.

Pricing vs DLD Transactions

Property Finder records 28 DLD sales transactions in Seascape. Eight are 1BR units, all registered as off-plan between June and August 2026:

• 26 August 2026: AED 1,520,000 for 776 sqft (Building 1)
• 25 August 2026: AED 1,600,000 for 954 sqft (Building 4)
• 7 August 2026: AED 1,435,000 for 783 sqft (Building 4)
• 5 August 2026: AED 1,425,888 for 782 sqft (Building 4)
• 5 August 2026: AED 1,560,000 for 954 sqft (Building 4)
• 29 July 2026: AED 1,420,888 for 783 sqft (Building 4)
• 24 July 2026: AED 1,500,000 for 776 sqft (Building 4)
• 10 June 2026: AED 1,550,000 for 774 sqft (Building 1)

For 1BR units in the 774-783 sqft range (comparable to this listing at 775 sqft), DLD prices range from AED 1,420,888 to AED 1,550,000. This listing at AED 1,500,000 falls within the DLD range. The most recent comparable transaction (26 August, 776 sqft, Building 1) registered at AED 1,520,000, which is AED 20,000 above this asking price.

Most of these DLD transactions are likely primary developer-to-buyer registrations rather than secondary market resales, given the project remains under construction. The DLD sizes (774-783 sqft) appear in the plot or gross area column and may differ slightly from BUA.

Pricing vs Active Listings

Active 1BR listings in Seascape include:

• AED 1,700,000: 1BR in Seascape Building 1, 775 sqft, low floor, courtyard view (ref whitewill-11214505, listed 2 months ago). Same size, same floor level, same view type as this listing, but AED 200,000 (13.3%) more expensive.
• AED 1,697,000: 1BR, 782 sqft, middle floor, marina and Gulf and Downtown skyline views (ref 3626-realty-l-l-c-11203355, listed 18 days ago). Slightly larger with a superior view, priced AED 197,000 above this listing.
• AED 2,049,999: 1BR with maid room, 811 sqft, garden and water view (ref SC-1BR-AB, listed 1 month ago). Larger layout with maid room.

This listing at AED 1,500,000 is notably cheaper than all active 1BR listings in Seascape. The closest comparable (same size, floor, view) is AED 200,000 more expensive.

Distress Indicators

The likely distress trigger is the approaching handover date. With handover on 30 November 2026 (approximately six weeks from the listing date), the seller faces an imminent 20% payment to the developer. On a typical Seascape 1BR purchase in the AED 1,500,000 range, the 20% handover tranche would be approximately AED 300,000. A seller unable or unwilling to make this payment would be motivated to exit before it becomes due.

The 80% already paid represents significant equity in the unit. By selling at AED 1,500,000 with only 20% remaining, the seller is offering the buyer a near-complete unit at a price that is competitive with DLD transaction levels and well below active market listings.

Payment Structure for Buyer

The 80/20 payment plan means 80% has been paid and 20% is due on handover. The transaction would work as follows:

• Payment to seller for equity: AED 1,500,000 minus the remaining 20% developer balance
• Remaining developer payment (20% of OP): amount depends on the original purchase price, which was not disclosed
• DLD transfer fee (4%): AED 60,000
• Agency commission (estimated 2%): AED 30,000

The buyer's total outlay is AED 1,500,000 plus DLD and agency fees (approximately AED 1,590,000 all-in). The 20% handover payment to the developer is part of the AED 1,500,000, not on top of it. However, with handover approximately six weeks away, the buyer must have the handover payment available immediately or shortly after completing the transfer.

About Seascape, Mina Rashid

Seascape is a residential development by Emaar Properties within Rashid Yachts and Marina, the rebranded waterfront district at Mina Rashid (formerly Port Rashid) in Dubai. The project comprises four low-rise buildings offering 1BR, 2BR and 3BR apartments.

Unit Specifications

1BR apartments in Seascape range from 706 to 811 sqft per the Bayut building page. The subject unit at 775 sqft falls within this range. Units feature an open-plan kitchen, a living and dining room, a balcony, one bathroom, and some layouts include a powder room.

Amenities

The development features a 500-metre swimmable canal pool, a signature amenity that forms the centrepiece of the community. Additional amenities include a swimming pool, a landscaped community park, a boardwalk promenade, recreational courts, a fully equipped gym, ground-floor retail and dining in each building, approximately 300 covered parking spaces, high-speed elevators, 24/7 security, central air conditioning and concierge services.

Location

Mina Rashid is a waterfront district along Dubai Creek, positioned between Bur Dubai and La Mer. The area offers proximity to Downtown Dubai, Dubai Mall and the historic Al Fahidi neighbourhood. Sheikh Zayed Road (E11) and Al Khail Road (E44) provide connectivity to the wider city. The Dubai Metro Red Line stations at Al Ghubaiba and Burjuman are within driving distance. Dubai Cruise Terminal is part of the Mina Rashid development.

The Rashid Yachts and Marina master plan by Emaar includes residential towers, a yacht marina, retail precincts, hotels and a public boardwalk. Seascape sits within this larger waterfront community alongside other Emaar residential projects.

Verification Notes

• No original purchase price was stated. The deal is classified as Off-Plan Distress based on the agent's description and pricing context.
• The asking price of AED 1,500,000 is within the DLD 1BR transaction range for similar-sized units (AED 1,420,888 to AED 1,520,000 for 774-783 sqft). It matches a 24 July 2026 DLD transaction of AED 1,500,000 for 776 sqft.
• The price is AED 200,000 (13.3%) below an active listing for the same size, floor level and view type (1BR, 775 sqft, low floor, courtyard view at AED 1,700,000).
• The agent describes this as a distress deal. The approaching handover date (30 November 2026) and the 20% handover payment due at that time are the likely distress triggers.
• 80% paid means the buyer assumes only the 20% handover tranche to the developer. The exact OP and therefore the exact handover amount were not disclosed.
• The agent did not specify which of the four Seascape buildings this unit is in. Building affects view, orientation, and potentially pricing.
• Low floor with pool and community view is the least premium view tier in Seascape. Units with marina, Gulf or skyline views command higher prices (the AED 1,697,000 listing with marina view confirms this).
• All DLD transactions in Seascape remain off-plan as of August 2026, confirming the project has not yet been handed over.
• Bayut shows 1BR sizes from 706 to 811 sqft. The agent's 775 sqft falls within this range and is consistent with the DLD-recorded sizes of 774-783 sqft for standard 1BR units.
• Handover is stated as 30 November 2026 by the agent, consistent with the Q4 2026 delivery timeline shown on Bayut and Property Finder.