Two-Bedroom Apartment at Bay Grove Residences, Dubai Island — Priced Below Original Purchase Price

Property Overview

This is a two-bedroom apartment on a middle floor with a water view at Bay Grove Residences by Nakheel, Dubai Island. The 1,658 sqft unit is offered at AED 3,500,000, which is AED 227,000 (6.1%) below the seller-stated original purchase price of AED 3,727,000. It is an off-plan resale, listed as a distress sale below original price.

Property Highlights

• Type: 2-bedroom apartment
• Size: 1,658 sqft
• Asking price: AED 3,500,000
• Original purchase price (seller-stated): AED 3,727,000
• Saving vs. original price: AED 227,000 (6.1%)
• Rate: AED 2,111 per sqft
• Floor: middle floor (agent-stated)
• View: water view (agent-stated)
• Developer: Nakheel
• Community: Dubai Island

Why the Price Qualifies as Below OP

The classification uses the seller-stated original purchase price of AED 3,727,000 against the current asking price of AED 3,500,000, a difference of AED 227,000, or 6.1%. At 1,658 sqft the asking price is AED 2,111 per square foot. The brief also references a higher prior figure of AED 3,862,000; the AED 3,727,000 stated in the original-price field is used as the benchmark and should be confirmed as the seller's original purchase price. The benchmark is not a DLD transaction or a dated market comparison, and DPF has not independently verified it.

About the Project, Developer and Community

Bay Grove Residences is an off-plan waterfront development by Nakheel on Dubai Island, Nakheel's island community off Deira with beaches, marinas and parks. As an off-plan project, it is under construction toward its handover. Project specifications and the exact completion date should be confirmed against Nakheel's official documentation.

Layout, Floor and View

The agent describes a middle-floor two-bedroom of 1,658 sqft with a water view. Exact floor level, layout, bathrooms, parking and orientation should be confirmed on the floor plan and in the Sale and Purchase Agreement.

Payment Plan and Handover

No handover date or payment plan terms were supplied in the brief. As an off-plan resale, the developer payment plan, outstanding balance, handover date and assignment (resale) terms must be confirmed with Nakheel and in the SPA before commitment.

Verification Notes

• Agent-supplied facts: 2-bedroom type, size (1,658 sqft), asking price (AED 3,500,000), original purchase price (AED 3,727,000, noted as dropped from AED 3,862,000), middle floor, and water view.
• DPF-calculated figures: savings amount (AED 227,000), savings percentage (6.1%), and price per square foot (AED 2,111).
• Benchmark note: a prior figure of AED 3,862,000 was referenced; the AED 3,727,000 stated as OP is used as the benchmark — confirm which is the genuine original purchase price (using AED 3,862,000 would give ~9.4%).
• Taxonomy: the community is recorded as 'Dubai Island' (singular), the canonical CMS spelling, although external sources often use 'Dubai Islands' (plural).
• External project research: Bay Grove Residences is confirmed as an off-plan Nakheel development on Dubai Island; unit-specific facts were not independently verified. 'Best price per sqft' is an agent claim.