Property Overview
A 2-bedroom apartment in Aeternitas by Franck Muller (London Gate), Dubai Marina at AED 2,400,000, 11.1% below the original price of AED 2,700,000, saving AED 300,000. BUA 1,090 sqft at AED 2,202 per sqft. High floor with full marina view. Less than AED 1,000,000 required before handover on a 40/60 payment plan. Agent describes as urgent distress sale.
Property Highlights
- Type: 2BR apartment
- BUA: 1,090 sqft
- Asking price: AED 2,400,000
- Original price: AED 2,700,000
- Saving vs OP: AED 300,000 (11.1%)
- Rate: AED 2,202 per sqft
- View: Full marina view, high floor
- Payment: 40/60 (less than AED 1M before handover)
- Status: Off-plan, 57% to 70% complete
- HO: Q2 to Q4 2027 (sources conflict)
Pricing Analysis
DLD Transactions for 2BR Units in Aeternitas (2026)
- AED 2,090,000 for 1,075 sqft (Jul 2026, AED 1,945 per sqft)
- AED 2,050,000 for 1,069 sqft (Apr 2026, AED 1,918 per sqft)
- AED 3,140,000 for 1,589 sqft (Feb 2026, AED 1,976 per sqft)
- AED 3,890,000 for 1,437 sqft (Feb 2026, AED 2,707 per sqft)
- AED 3,745,000 for 1,614 sqft (Feb 2026, AED 2,321 per sqft)
- AED 4,300,000 for 1,732 sqft (Mar 2026, AED 2,482 per sqft)
- AED 4,123,200 for 1,732 sqft (Sep 2026, AED 2,381 per sqft)
For the comparable layout (1,069 to 1,090 sqft), the two most relevant DLD sales closed at AED 2,050,000 and AED 2,090,000, both at AED 1,918 to AED 1,945 per sqft. At AED 2,400,000 (AED 2,202 per sqft), this listing is AED 310,000 to AED 350,000 above recent DLD sales for similar-sized units. This is a 15% to 17% premium over DLD comps.
Active Competing 2BR Listings
- AED 2,190,000 for 1,065 sqft, marina view (AED 2,056 per sqft, Property Finder)
- AED 3,500,000 for 1,634 sqft, marina view (AED 2,141 per sqft, 13% price drop)
An active 2BR listing at 1,065 sqft is priced at AED 2,190,000 (AED 2,056 per sqft), which is AED 210,000 less than this listing for a nearly identical size. Buyers should compare floor levels and view orientations between these listings.
Red Flag: Asking Above Market
While the seller is taking an 11.1% loss against their OP of AED 2,700,000, the asking price of AED 2,400,000 is above the current secondary market for this layout size. The OP of AED 2,700,000 (AED 2,477 per sqft) appears to have been above market at purchase. DLD data shows the market for 1,069 to 1,090 sqft 2BR units in this building has settled around AED 1,918 to AED 2,056 per sqft. At AED 2,202 per sqft, this listing is priced at a premium, potentially justified by a high floor and full marina view. Buyers should verify the exact floor and negotiate. A realistic target based on DLD and active listings would be AED 2,100,000 to AED 2,250,000 for this size.
Payment Plan Structure
- 10% at booking
- 30% during construction
- 60% on handover
- Pre-handover total (40%): AED 960,000
- Handover payment (60%): AED 1,440,000
The 40/60 plan is advantageous for buyers who want to minimise pre-handover exposure. If the project fails or is significantly delayed, the buyer has risked only AED 960,000 rather than a larger proportion. However, the AED 1,440,000 handover payment requires either cash reserves or pre-arranged mortgage financing.
About Aeternitas
A 106-floor residential tower in Dubai Marina by London Gate, branded in partnership with Franck Muller (Swiss luxury watchmaker). 649 residential units. Originally marketed as Marina 106. Construction is at the 75th floor with overall completion at 57% to 70%. Unit mix includes 1BR to 4BR apartments. 2BR units range from 1,071 to 1,723 sqft. 209 DLD transactions recorded to date. Located on Al Kayay Street, Dubai Marina, near Marina Mall, The Walk at JBR and DAMAC Properties Metro Station. Freehold ownership.
Developer Risk
London Gate is a private Dubai developer founded in 2014. Aeternitas is their flagship project. Other projects under construction include Franck Muller Vanguard (Dubai Marina) and Lilian Residences (Dubai South). London Gate has no verified completed-and-handed-over residential projects. All current projects are under construction simultaneously. Buyers should factor in first-time delivery risk.
Verification Notes
The OP (AED 2,700,000), selling price (AED 2,400,000), BUA (1,090 sqft), high floor, marina view, urgent status and less than AED 1M before handover are from the agent brief. The 11.1% discount from OP is verified. The 1,090 sqft 2BR is confirmed as a valid layout (DLD records show 1,069 to 1,075 sqft variants). The handover date is disputed between Q2 and Q4 2027. The key concern is that AED 2,400,000 is above recent DLD transaction prices and active listings for the same layout size, even though it is below OP. The discount is real from the seller's perspective but may not represent a discount from current market value.
