Two-Bedroom Apartment at District One Residences (Residence 13), District One — Priced Below Original Purchase Price

Property Overview

This is a furnished, vacant two-bedroom apartment at District One Residences (Residence 13), District One, Mohammed Bin Rashid City, with a direct lagoon outlook. The 1,200 sqft unit is offered at AED 2,600,000, which is AED 250,000 (8.8%) below the seller-stated original purchase price of AED 2,850,000. It is listed as a distress sale below original price.

Property Highlights

• Type: 2-bedroom apartment
• Size: 1,200 sqft
• Asking price: AED 2,600,000
• Original purchase price (seller-stated): AED 2,850,000
• Saving vs. original price: AED 250,000 (8.8%)
• Rate: AED 2,167 per sqft
• Status: furnished and vacant (agent-stated)
• Outlook: direct lagoon (agent-stated)
• Agent market estimate: AED 2.8–2.9M
• Developer: Nakheel
• Community: District One, Mohammed Bin Rashid City

Why the Price Qualifies as Below OP

The classification uses the seller-stated original purchase price of AED 2,850,000 against the current asking price of AED 2,600,000, a difference of AED 250,000, or 8.8%. At 1,200 sqft the asking price is AED 2,167 per square foot. For context, the agent estimates the current market at AED 2.8–2.9M (taking the conservative AED 2.8M implies about 7.1% below market) and notes the price stood at AED 2.65M on 30 August. The benchmark used is the original purchase price; it is not a DLD transaction or a dated market comparison, and DPF has not independently verified it.

About the Project, Developer and Community

District One Residences is a low-rise apartment collection by Nakheel within District One at Mohammed Bin Rashid City, a gated community known for the Crystal Lagoon, villas and green space, with connectivity via Al Ain Road and Ras Al Khor Road. Building-level facilities and the specific Residence 13 configuration should be confirmed against the developer's documentation.

Layout, Furnishing and Outlook

The agent describes a furnished, vacant two-bedroom of 1,200 sqft with a direct lagoon outlook. Exact floor level, layout, bathrooms, parking and the furniture inventory should be confirmed on the floor plan and in the Sale and Purchase Agreement.

Verification Notes

• Agent-supplied facts: 2-bedroom type, size (1,200 sqft), asking price (AED 2,600,000), original purchase price (AED 2,850,000), furnished, vacant, direct lagoon, a market estimate of AED 2.8–2.9M, and a prior price of AED 2.65M on 30 August.
• DPF-calculated figures: savings vs OP (AED 250,000, 8.8%) and price per square foot (AED 2,167). The conservative market end (AED 2.8M) implies about 7.1% below market.
• External project research: District One Residences is confirmed as a Nakheel apartment collection in District One (MBR City); unit-specific facts were not independently verified.
• The original purchase price is a seller-stated benchmark and has not been checked against a DLD record.