Three-Side Corner Canal-Facing Plot on Dubai Island, G+2P+10

Property Overview

This three-side corner, canal-facing development plot on Dubai Island (formerly Deira Island) is offered as a distress sale at AED 22,997,000. The plot measures 39,650 sq ft with a permitted GFA of 124,000 sq ft and a G+2P+10 height allowance. The asking price equals AED 580 per sq ft of plot area, down from a previous AED 700 per sq ft.

Plot Highlights

• Property type: Development plot
• Plot area: 39,650 sq ft
• Permitted GFA: 124,000 sq ft (agent-stated)
• Height permission: G+2P+10 (agent-stated)
• Position: Three-side corner, canal facing (agent-stated)
• Asking price: AED 22,997,000
• Rate on plot area: AED 580 per sq ft
• Rate on GFA: approx. AED 185 per sq ft (calculated)
• Previous asking rate: AED 700 per sq ft (agent-stated)

Pricing Basis

The asking price of AED 22,997,000 matches the plot area of 39,650 sq ft multiplied by AED 580, so the AED 580 rate applies to plot area. On the 124,000 sq ft GFA, the same price works out to approximately AED 185 per sq ft of buildable area.

The agent states the asking rate has been reduced from AED 700 per sq ft. That earlier figure is a previous asking rate, not a valuation or DLD transaction, and no original purchase price was supplied. DPF therefore does not state a discount against OP or market value. Buyers should compare recent Dubai Island plot transactions on a GFA basis.

Calculation

• 39,650 sq ft × AED 580 = AED 22,997,000
• AED 22,997,000 / 124,000 sq ft GFA = approx. AED 185 per sq ft of GFA

About the Community

Dubai Island, formerly known as Deira Island, is a waterfront island development off the Deira coast made up of several connected islands, with beaches, marinas, canals and mixed residential, hospitality and retail zones.

Development Potential

The agent states a G+2P+10 permission (ground, two podium parking levels and ten upper floors) and 124,000 sq ft of GFA. Buyers should confirm the permitted use, GFA, height, setbacks, plot coverage and any master-developer design guidelines through the affection plan and Nakheel's planning requirements before committing.

Transaction Considerations

Plot purchases typically require verification of the title deed or SPA, the affection plan, permitted use and GFA, service charge or community fees, any outstanding developer payments and the master developer's NOC requirements. Independent legal and planning advice is recommended.

Verification Notes

• Agent-supplied facts: location, 39,650 sq ft plot, 124,000 sq ft GFA, G+2P+10 permission, three-side corner, canal facing, AED 580 per sq ft rate, previous AED 700 per sq ft and asking price AED 22,997,000.
• Calculated by DPF: confirmation that the price is based on plot area, and the rate per sq ft of GFA.
• External context: community overview.
• Not supplied: permitted use, affection plan, original purchase price, plot number and service charges.