Property Overview
This 2-bedroom hotel apartment in The 8 on Palm Jumeirah is available at AED 3,450,000. The stated original purchase price is AED 6,438,000. The asking price is AED 2,988,000 (46.4%) below the original price. The unit is 1,216 sqft (AED 2,837 per sqft) with palm and marina views. Currently under hotel management, which the agent states the buyer can cancel. Ready to move in, completed in 2019 by IFA Hotels and Resorts.
Property Highlights
- Type: 2-bedroom hotel apartment
- Size: 1,216 sqft
- Original price: AED 6,438,000
- Asking price: AED 3,450,000 (AED 2,837 per sqft)
- Saving: AED 2,988,000 (46.4%)
- Bathrooms: 3 (estimated)
- Parking: 1
- Views: palm and marina
- Status: ready, completed 2019
- Hotel management: active, buyer can cancel
- Developer: IFA Hotels and Resorts
Why the Price Qualifies as Below OP
The asking price of AED 3,450,000 is below the stated original purchase price of AED 6,438,000. The saving is AED 2,988,000, which is 46.4% of the original price. The agent describes this as a 47% discount; the precise calculation yields 46.4%.
OP Plausibility
The stated OP of AED 6,438,000 for 1,216 sqft (AED 5,294 per sqft) is a high price per sqft for The 8. However, a DLD transaction in February 2026 recorded a 2-bedroom hotel apartment at 1,379 sqft for AED 6,662,040 (AED 4,830 per sqft), and an apartment at 1,335 sqft for AED 5,700,000 (AED 4,270 per sqft). The OP is above these per-sqft rates but remains within the range observed in historical transactions, particularly if the unit was purchased during a peak-pricing period (2014 to 2017 launch phase). Buyers should request the original SPA or Oqood registration to verify the OP.
DLD Transaction Comparison
Recent DLD transactions for 2-bedroom units in The 8 from Property Finder:
- 24 July 2026: AED 4,841,000, hotel apartment, 1,215 sqft (AED 3,985 per sqft)
- 21 May 2026: AED 4,892,500, hotel apartment, 1,224 sqft (AED 3,998 per sqft)
- 27 March 2026: AED 2,950,000, hotel apartment, 1,241 sqft (AED 2,378 per sqft)
- 27 February 2026: AED 5,700,000, apartment, 1,335 sqft (AED 4,270 per sqft)
- 16 February 2026: AED 6,662,040, hotel apartment, 1,379 sqft (AED 4,830 per sqft)
The most directly comparable DLD transaction is the July 2026 hotel apartment at 1,215 sqft (nearly identical to the agent's 1,216 sqft) which sold for AED 4,841,000. The agent's asking price of AED 3,450,000 is AED 1,391,000 (29%) below this comparable transaction.
The March 2026 transaction at AED 2,950,000 for 1,241 sqft is an outlier, falling well below all other 2-bedroom transactions and active listings. It may represent an extreme distress sale, a unit in poor condition or a related-party transfer. The agent's price, while above this outlier, remains well below the broader market.
Active Listing Comparison
Property Finder shows 20 active 2-bedroom listings in The 8, ranging from AED 3,550,000 to AED 7,100,000 with an average of approximately AED 4,680,000. The two lowest listings are at AED 3,550,000 each (1,224 sqft, low floor, furnished, sea view). The agent's asking price of AED 3,450,000 falls below all current active listings.
Hotel Management
The unit is currently under hotel management. The 8 on Palm Jumeirah includes the Delano Dubai Hotel, and certain units are operated as part of the hotel pool managed by Accor Hotels. Under this arrangement, the unit generates rental income through hotel bookings, with returns shared between the owner and the operator.
The agent states the buyer can cancel the hotel management agreement. Cancelling would allow the owner to use the unit as a standard residential apartment: live in it, rent it privately or leave it vacant. Prospective buyers should review the hotel management agreement carefully, including notice periods, exit fees and any minimum commitment periods. The DLD registration type is likely hotel apartment and this may remain unchanged after cancelling the management contract.
About The 8
The 8 is a luxury residential complex on The Crescent at Palm Jumeirah, developed by IFA Hotels and Resorts. The complex consists of two eight-storey buildings with approximately 300 residential units ranging from 1 to 4 bedroom apartments, duplexes, townhouses and penthouses. Sizes range from 893 to 4,058 sqft. The project was completed in 2019. The design is by Kenzo Maison in a contemporary Miami-inspired style.
Amenities include:
- Private beach access
- Swimming pools
- Gymnasium and spa with sauna and steam room
- Tennis court
- Children's playground
- Landscaped gardens and BBQ area
- Restaurant and dining facilities
- Concierge service and valet parking
- 24-hour security
Location
The 8 is on The Crescent of Palm Jumeirah, Dubai, offering unobstructed views of the Arabian Gulf, the Palm fronds and Dubai Marina skyline.
- Nakheel Mall: approximately 5 minutes
- Atlantis The Palm: approximately 10 minutes
- Dubai Marina: approximately 15 minutes
- Dubai International Airport: approximately 30 minutes
- Downtown Dubai: approximately 25 minutes
Palm Jumeirah offers freehold ownership for foreign buyers.
Verification Notes
Unit-specific facts including 2-bedroom configuration, 1,216 sqft, AED 3,450,000 asking price, AED 6,438,000 original price, palm and marina views and hotel management with cancellation option are from the agent's brief received on 5 October 2026. The Below OP classification is based on the stated OP exceeding the asking price by AED 2,988,000 (46.4%). The agent states 47%; the calculated percentage is 46.4%. The OP of AED 6,438,000 is above the per-sqft rate of the most recent comparable DLD transactions but within the historical range for peak-period purchases. A nearly identical-sized hotel apartment (1,215 sqft) transacted at AED 4,841,000 in July 2026 via DLD, which is AED 1,391,000 above the asking price. The 3-bathroom count is estimated from comparable Property Finder listings and is not confirmed by the agent. The 1-parking allocation is estimated from building data. The furnishing status is not stated in the brief. The agent did not provide a unit number, floor number, service charge, rental history or hotel management contract details.
