2 Bedroom Below OP in Bay Grove Residences by Nakheel, Dubai Island

Property Overview

This 2 bedroom apartment in Bay Grove Residences by Nakheel, Dubai Island is asking AED 2,950,000. The seller's total cost including original purchase price and DLD registration was AED 3,276,000, placing the original purchase price at AED 3,150,000. At AED 2,950,000, the asking price is AED 200,000 (6.3%) below the original purchase price and AED 326,000 (9.9%) below the seller's total cost. The unit provides 1,246 sq.ft at AED 2,368 per sq.ft with sea views. Handover is expected in Q3 2028.

Property Highlights

• Type: 2 bedroom apartment
• Size: 1,246 sq.ft
• View: Sea view
• Original purchase price: AED 3,150,000
• Seller's total cost (OP + DLD): AED 3,276,000
• Asking price: AED 2,950,000
• Savings vs OP: AED 200,000 (6.3%)
• Savings vs OP + DLD: AED 326,000 (9.9%)
• Rate: AED 2,368 per sq.ft
• Handover: Q3 2028
• Payment plan: 70/30

Why the Price Qualifies as Below OP

The agent states the seller's total investment including original purchase price and 4% DLD registration was AED 3,276,000. Applying the standard 4% DLD rate, this places the original purchase price at AED 3,150,000 and DLD at AED 126,000.

At AED 2,950,000, the asking price is below both the original purchase price (by AED 200,000, or 6.3%) and the seller's all-in cost (by AED 326,000, or 9.9%). The seller is absorbing a total loss of AED 326,000 against their full investment, including the irrecoverable DLD registration fee.

Property Finder shows 2 bedroom Bay Grove apartments in Phase 2 starting from AED 2,700,000 at 1,308 sq.ft. This unit at 1,246 sq.ft appears to be from Phase 1 and is priced above the Phase 2 starting point but well below its own OP. All figures should be verified against the seller's SPA and DLD receipt.

About Bay Grove Residences

Bay Grove Residences is a premium waterfront development by Nakheel on Dubai Island, comprising four interconnected buildings on a landscaped green podium. The development is being delivered in phases: Phase 1 (Q3 2028), Phase 2 (Q4 2028), and a Final Phase (Q2 2029). Unit types include 1 to 4 bedroom apartments and penthouses with sizes from 870 to 3,884 sq.ft. The payment plan is structured as 70/30: 20% down payment, 50% during construction, and 30% on handover.

The development sits along a 500-metre private beach with boardwalk. Amenities include infinity pools, a clubhouse, co-working spaces, outdoor fitness zones, BBQ areas, jogging tracks, indoor and outdoor children's areas, a pet wash station, retail outlets, and 24-hour security. The architecture promotes seamless indoor-outdoor living with expansive terraces, lush podium gardens, and resort-style facilities.

Dubai Island Location

Dubai Island (formerly Deira Islands) is a waterfront archipelago developed by Nakheel off the coast of Deira. The islands are connected to mainland Dubai via the Deira Island Bridge, providing access to the city's main road networks. Dubai International Airport is approximately 15 minutes away, and Downtown Dubai approximately 20 to 25 minutes by car. The islands are emerging as a major waterfront destination with luxury residential, hospitality, and retail developments by multiple developers.

Off-Plan Resale and Payment Structure

This is an off-plan resale with handover expected in Q3 2028 (approximately September 2028). The Nakheel payment plan is structured as 70/30: 20% down payment, 50% during construction, and 30% on handover. The buyer would need to reimburse the seller for amounts already paid and assume the remaining payment obligations. A No Objection Certificate from Nakheel is required for the resale transfer. Properties purchased above AED 2,000,000 may qualify for the UAE Golden Visa (10-year renewable residency), subject to prevailing regulations.

Verification Notes

The bedroom count, size, sea view, and Q3 2028 handover are sourced from the agent's resale brief received on 14 August 2026. The seller's total cost was stated as AED 3,276,000 (OP + DLD); the original purchase price of AED 3,150,000 and DLD of AED 126,000 are derived using the standard 4% DLD rate. Both should be verified against the seller's SPA and DLD receipt. The bathroom count, floor number, furnishing status, and exact phase were not stated and have been omitted. Stable project facts are drawn from Nakheel project data, Property Finder, Propsearch, and Metropolitan. Buyers should independently verify all facts, obtain a NOC from Nakheel, and seek independent legal advice before proceeding.