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

Property Overview

This 3 bedroom apartment in Bay Grove Residences by Nakheel, Dubai Island is asking AED 4,650,000. The seller's total cost including original purchase price and DLD registration was AED 5,140,000, placing the original purchase price at approximately AED 4,942,000. At AED 4,650,000, the asking price is approximately AED 292,000 (5.9%) below the original purchase price and AED 490,000 (9.5%) below the seller's total cost. The unit provides 2,100 sq.ft at AED 2,214 per sq.ft on a low floor with private beach access. Handover is expected in Q3 2028.

Property Highlights

• Type: 3 bedroom apartment
• Size: 2,100 sq.ft
• Floor: Low floor
• Private beach access
• Derived OP: approximately AED 4,942,000
• Seller's total cost (OP + DLD): AED 5,140,000
• Asking price: AED 4,650,000
• Savings vs OP: approximately AED 292,000 (5.9%)
• Savings vs OP + DLD: AED 490,000 (9.5%)
• Rate: AED 2,214 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 5,140,000. Applying the standard 4% DLD rate, this places the original purchase price at approximately AED 4,942,000 and the DLD at approximately AED 198,000.

At AED 4,650,000, the asking price is below both the original purchase price (by approximately AED 292,000, or 5.9%) and the seller's all-in cost (by AED 490,000, or 9.5%). The agent described the discount as 8% below OP+DLD, but the arithmetic from the stated figures (490,000 / 5,140,000) produces 9.5%, meaning the actual discount is larger than advertised.

The seller is absorbing a total loss of AED 490,000 against their full investment, including the irrecoverable DLD registration fee. 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 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 payment plan is structured as 70/30: 20% down payment, 50% during construction, and 30% on handover.

Private Beach Access

The agent highlights private beach access as a key feature. Bay Grove Residences offers direct access to a 500-metre private beach with a dedicated boardwalk. Low-floor units may offer direct podium-level access to the beach and landscaped garden areas, providing a ground-level connection to the waterfront lifestyle.

Dubai Island Location

Dubai Island is a waterfront archipelago developed by Nakheel off the Deira coastline. The islands are connected to mainland Dubai via the Deira Island Bridge. Dubai International Airport is approximately 15 minutes away, and Downtown Dubai approximately 20 to 25 minutes by car.

Off-Plan Resale and Payment Structure

This is an off-plan resale with handover expected in Q3 2028. The Nakheel payment plan is 70/30: 20% down payment, 50% during construction, and 30% on handover. The buyer would reimburse the seller for amounts paid and assume remaining obligations. A No Objection Certificate from Nakheel is required. Properties above AED 2,000,000 may qualify for the UAE Golden Visa.

Verification Notes

The bedroom count, size, low-floor designation, private beach access, 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 5,140,000 (OP + DLD); the original purchase price of approximately AED 4,942,000 and DLD of approximately AED 198,000 are derived using the standard 4% DLD rate. The agent stated an 8% discount below OP+DLD; the calculated discount is 9.5%. Both should be verified against the seller's SPA and DLD receipt. The bathroom count, view orientation, and furnishing status 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.