2 Bedroom Apartment in Belgravia Gardens B by Ellington, 8% Below OP

Property Overview

This two-bedroom off-plan apartment in Belgravia Gardens B by Ellington is offered as a distress resale at AED 1,620,000 against an agent-stated original purchase price of AED 1,760,000, which is AED 140,000 or 8.0% below OP. The unit measures 1,082.85 sq ft, approximately AED 1,496 per sq ft, with what the agent describes as a lagoon and community view.

Property Highlights

• Property type: Apartment
• Bedrooms: 2
• Built-up area: 1,082.85 sq ft
• Asking price: AED 1,620,000
• Original purchase price: AED 1,760,000 (agent-stated)
• Saving vs OP: AED 140,000 (8.0%)
• Price per sq ft: approx. AED 1,496 (calculated)
• View: Lagoon and community (agent-stated)
• Developer: Ellington Properties

Why the Price Qualifies as Below OP

The agent states an original purchase price of AED 1,760,000 and an asking price of AED 1,620,000. The difference is AED 140,000, which is 8.0% of the original price.

Calculation

• AED 1,760,000 minus AED 1,620,000 = AED 140,000
• AED 140,000 / AED 1,760,000 = 8.0% below OP
• AED 1,620,000 / 1,082.85 sq ft = approx. AED 1,496 per sq ft

The original price comes from the agent's resale brief. DPF has not reviewed the seller's SPA.

About the Project, Developer and Community

Belgravia Gardens is an Ellington Properties residential development made up of several buildings released in phases. Published project information places it in Falcon City of Wonders, Dubailand, and lists studios and one- to three-bedroom apartments with indoor and outdoor swimming pools, landscaped courtyards and community amenities. The agent brief describes the location as Meydan, so buyers should confirm the exact location in the SPA.

Layout, Floor and View

The agent confirms a two-bedroom layout of 1,082.85 sq ft with a lagoon and community view. The floor, bathroom count and parking allocation were not supplied and should be confirmed from the SPA and floor plan.

Payment Plan and Handover

The agent brief did not include the payment plan, amount paid or handover date. Published project information shows the development as off-plan with phased completion from 2028. The remaining balance, instalment schedule, handover date and Ellington's resale NOC requirements should be confirmed against the seller's SPA.

Verification Notes

• Agent-supplied facts: project, building B, developer, two bedrooms, 1,082.85 sq ft BUA, OP AED 1,760,000, asking price AED 1,620,000, lagoon and community view, and Meydan as the stated location.
• Calculated by DPF: savings amount, savings percentage and price per sq ft.
• External project research: developer, phased building layout, unit mix, amenities and published location in Falcon City of Wonders, Dubailand.
• Not supplied: floor, bathrooms, parking, amount paid, payment plan, handover date and service charge.