4BR Townhouse in Maldives at Damac Islands at AED 2,290,000 - 11.9% Below OP, Single Row

Property Overview

A 4-bedroom duplex townhouse in the Maldives cluster at Damac Islands by DAMAC Properties at AED 2,290,000, 11.9% below the original price of AED 2,600,000, saving AED 310,000. Single row (non-back-to-back), close to lagoons, with pocket garden. Off-plan, under construction with handover expected Q4 2028.

Property Highlights

• Type: 4BR duplex townhouse with maid room
• BUA: approximately 2,194 to 2,208 sqft (not stated by agent, per building data)
• Plot: approximately 1,550 sqft
• Asking price: AED 2,290,000
• Original price: AED 2,600,000
• Saving: AED 310,000 (11.9%)
• Position: Single row, close to lagoons
• Features: Pocket garden, double-height living, 2 parking
• Status: Off-plan, ~3% complete, Q4 2028 handover

Below OP Analysis

The seller purchased at AED 2,600,000 and is asking AED 2,290,000, a AED 310,000 reduction (11.9%). The Oqood (off-plan DLD registration) fee is 4% of AED 2,600,000 = AED 104,000. Total seller investment is AED 2,704,000. Total loss: AED 414,000 (15.3% of total investment). At approximately 3% construction completion (May 2026) and over two years until handover, the seller is exiting early, likely to avoid remaining construction installments.

Active Competing 4BR Listings (Maldives Cluster)

• AED 1,980,000 to AED 2,050,000, Dubizzle (low-end listings, likely middle units)
• AED 2,325,000, 1,556 sqft plot, single row, 10% below OP (Property Finder)
• AED 2,400,000, 1,550 sqft plot, 8% price drop, 75/25 payment (Property Finder)
• AED 2,500,000, 1,554 sqft plot, marketed as below OP (Property Finder)

At AED 2,290,000, this is the lowest-priced single-row 4BR listing found (AED 35,000 below the AED 2,325,000 single-row listing). For buyers specifically seeking single-row positions, this offers value. However, middle-unit listings from AED 1,980,000 offer entry at a lower total price for those not requiring the premium position.

Launch Price Context

DAMAC launched 4BR townhouses from AED 2,250,000 (base price, likely middle units). Single-row and lagoon-adjacent units carried premiums, reaching AED 2,583,000 to AED 2,600,000. At AED 2,290,000, the asking is above the base launch price but 11.9% below the premium single-row OP.

About Maldives at Damac Islands

One of six residential clusters in Phase 1 of Damac Islands by DAMAC Properties. Subdivided into Maldives 1 through Maldives 5. Offers 4BR duplex townhouses, 5BR three-storey townhouses, 6BR duplex villas and 7BR villas. 4BR townhouses feature double-height living rooms, floor-to-ceiling windows, private garden patios, maid rooms and two parking spaces. Built-up area approximately 2,194 to 2,208 sqft on plots of approximately 1,550 sqft.

About Damac Islands

DAMAC Properties' sixth master community, launched November 2024. Located in Al Yelayiss 1, Dubailand, near the intersection of Emirates Road (E611) and Al Qudra Road (D63). Adjacent to DAMAC Lagoons. Features a central crystal lagoon, over 8 km of interconnected canals and waterways, and island-themed clusters (Maldives, Bora Bora, Fiji, Seychelles, Bali, Hawaii in Phase 1). Over 2,000 units. Approximately 30 minutes from Downtown Dubai. Payment plan: 20% booking, 55% during construction, 25% at handover (75/25 structure). Freehold ownership.

Construction Risk

The project was approximately 3% complete as of the May 2026 DLD inspection. Phase 1 foundation was about 40% complete and canal excavation 35% complete. With a Q4 2028 target handover, the project needs to complete approximately 97% of construction in 26 months. This carries meaningful completion risk. DAMAC has a track record of delivering large-scale communities (DAMAC Hills, DAMAC Lagoons) but delays are common in projects of this scale. Buyers should factor in potential handover delays when assessing the investment.

Verification Notes

The asking price, OP, 4BR configuration, single row, lagoon proximity and pocket garden claims are from the agent brief. No size was stated by the agent. BUA is approximately 2,194 to 2,208 sqft per building data. The OP of AED 2,600,000 for a single-row unit is consistent with competing data (a single-row listing at AED 2,325,000 advertised as 10% below OP implies OP of approximately AED 2,583,000). The 11.9% OP discount is credible. Construction is at a very early stage with over two years until expected handover.