2BR in Ocean Cove Building 1 by Emaar, Mina Rashid at AED 2,300,000 - 8% Below OP

Property Overview

A 2-bedroom apartment in Ocean Cove Building 1 by Emaar Properties in Mina Rashid at AED 2,300,000 for 1,152 sqft, equalling AED 1,997 per sqft. The original purchase price was AED 2,500,000, representing a saving of AED 200,000 (8%). Off-plan with handover targeted for Q3 2028.

Property Highlights

• Type: 2-bedroom apartment
• Size: 1,152 sqft
• Asking price: AED 2,300,000
• Original price: AED 2,500,000
• Saving: AED 200,000 (8%)
• Rate: AED 1,997 per sqft
• Developer: Emaar Properties
• Handover: Q3 2028

Below OP Analysis

At AED 2,300,000 vs AED 2,500,000 OP, the saving is AED 200,000 (8%). Including the 4% DLD fee on the original purchase (AED 100,000), the seller's total loss is approximately AED 300,000.

Market Comparison

The Mina Rashid area average price per sqft is approximately AED 2,500, with a 1.2% year-on-year increase. At AED 1,997 per sqft, this listing is 20% below the area average. Comparable listings:

• Ocean Cove Building 1 2BR (1,417 sqft): AED 2,600,000 on Dubizzle (advertised as below OP)
• Ocean Cove 2BR (1,308 sqft): AED 3,229,888 on Property Finder (AED 2,469 per sqft)

At AED 1,997 per sqft, this is well below the comparable asking prices and the area average.

Unit Size

The 1,152 sqft is confirmed as the smallest 2BR layout available in Ocean Cove Building 1. Building 1 2BR sizes range from 1,151 to 1,416 sqft. Building 2 ranges from 1,151 to 1,370 sqft. The unit is at the compact end of the 2BR range.

Construction Status

Construction was at 9.57% completion as of December 2025. With a Q3 2028 handover target (August 2028 per Property Finder), the project is in its early construction phase. Emaar Properties has a strong track record for on-time delivery across its portfolio.

Payment Plan

The Emaar payment structure for Ocean Cove is 80/20: 10% at booking, 70% during construction linked to milestones, 20% on handover. As a resale, the buyer would take over the remaining payments. The amount already paid by the original buyer should be confirmed with the agent.

About Ocean Cove

Ocean Cove comprises 2 buildings with 233 total units offering 1BR (from 786 sqft), 2BR (from 1,151 sqft) and 3BR (up to 1,853 sqft) apartments. It is part of the Rashid Yachts and Marina master development by Emaar. The project is sold out at developer level. Amenities include an infinity pool with marina views, the longest canal pool in Dubai (per Metropolitan), gymnasium, wellness centre, landscaped gardens, children's play area and waterfront promenade.

About Mina Rashid

Mina Rashid (formerly Port Rashid) is a waterfront mixed-use development on the historic port site in Dubai. The area includes residential towers, the QE2 floating hotel, a full-service marina, Dubai Cruise Terminal, retail, dining and a waterfront promenade. It is emerging as one of Dubai's newer waterfront communities.

Verification Notes

The asking price, OP, size and Q3 2028 handover are from the agent brief. The 8% discount and AED 200,000 saving are verified (2,500,000 minus 2,300,000). The 1,152 sqft is confirmed as a valid 2BR layout in Building 1. Q3 2028 handover is confirmed across all major portals. Buyers should verify the remaining payment schedule, floor and view orientation.