Two-Bedroom Apartment at Executive Towers (Tower J), Business Bay — Priced Below Original Purchase Price

Property Overview

This is a two-bedroom apartment above the 20th floor at Executive Towers (Tower J), the Dubai Properties development in Business Bay. The 1,441 sqft unit is currently rented at AED 140,000 per year and is offered at AED 2,100,000, which is AED 400,000 (16.0%) below the seller-stated original purchase price of AED 2,500,000. It is listed as a distress sale below original price.

Property Highlights

• Type: 2-bedroom apartment
• Size: 1,441 sqft
• Asking price: AED 2,100,000
• Original purchase price (seller-stated): AED 2,500,000
• Saving vs. original price: AED 400,000 (16.0%)
• Agent market estimate: ~AED 300,000–400,000 below market of AED 2.4–2.5M (about 12.5–16.0%)
• Rate: AED 1,457 per sqft
• Current rent: AED 140,000 per year (implied gross yield about 6.7% at the asking price)
• Floor: above the 20th floor (agent-stated)
• Developer: Dubai Properties
• Community: Business Bay

Why the Price Qualifies as Below OP

The classification uses the seller-stated original purchase price of AED 2,500,000 against the current asking price of AED 2,100,000, a difference of AED 400,000, or 16.0%. At 1,441 sqft the asking price is AED 1,457 per square foot. The agent also describes the unit as roughly AED 300,000–400,000 below a current market range of AED 2.4–2.5M; taking the conservative end of that range (AED 2.4M) implies about 12.5% below market. The benchmark used here is the stated 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

Executive Towers is a completed multi-tower residential and commercial complex by Dubai Properties in Business Bay, connected to the Bay Avenue retail podium and within Dubai's central business and waterfront district along the Dubai Canal, with connectivity via Sheikh Zayed Road and Al Khail Road. Building-level facilities and the specific Tower J configuration should be confirmed against the developer's documentation.

Layout, Floor and Tenancy

The agent describes a two-bedroom unit of 1,441 sqft above the 20th floor, currently rented at AED 140,000 per year. The buyer would acquire it subject to the existing tenancy. The exact floor, layout, bathrooms, parking and the tenancy contract terms (including end date and renewal) should be confirmed on the floor plan and against the registered Ejari contract.

Verification Notes

• Agent-supplied facts: 2-bedroom type, size (1,441 sqft), asking price (AED 2,100,000), original purchase price (AED 2,500,000), market estimate range (AED 2.4–2.5M / ~300–400k below), current rent (AED 140,000/yr), and floor (above 20th).
• DPF-calculated figures: savings vs OP (AED 400,000, 16.0%), price per square foot (AED 1,457), and implied gross yield (~6.7% at the asking price).
• Range handling: the agent gave a market range of AED 2.4–2.5M; the conservative end (AED 2.4M) implies about 12.5% below market. The full range (12.5–16.0%) is documented for transparency.
• Benchmark flag: the OP (AED 2,500,000) coincides with the top of the agent's market range. Confirm AED 2,500,000 is the seller's genuine original purchase price; if it is only a market estimate, reclassify as Below Market at the conservative ~12.5%.
• External project research: Executive Towers is confirmed as a completed Dubai Properties development in Business Bay (distinct from DAMAC's Executive Bay); unit-specific facts were not independently verified. The tenancy end date was not supplied.