Fully Furnished Studio in Cove Edition 5, Wadi Al Safa 5 at 13.2% Below OP

Property Overview

This is a fully furnished studio apartment in Cove Edition 5 by Imtiaz Developments, Wadi Al Safa 5, offered at AED 590,000. The unit measures 392 sq ft and is priced AED 90,000 (13.2%) below the seller's stated original purchase price of AED 680,000. The agent describes it as an off-plan, mid-floor unit offered for an urgent sale.

Property Highlights

• Asking price: AED 590,000
• Original purchase price (agent-stated): AED 680,000
• Saving vs OP: AED 90,000 (13.2%)
• Size: 392 sq ft
• Rate: approx. AED 1,505 per sq ft
• Type: studio
• Furnishing: fully furnished (agent-stated)
• Floor: mid floor (agent-stated)
• Status: off-plan resale

Why the Price Qualifies as Below OP

The agent brief states an original purchase price of AED 680,000 and an asking price of AED 590,000. The difference is AED 90,000, which is 13.2% of the original price. The agent's headline figure of 15% does not match this calculation; DPF shows the calculated 13.2%. At the asking price the studio works out at about AED 1,505 per sq ft, compared with about AED 1,735 per sq ft at the original price.

The comparison is against the seller's own purchase price only. It is not a claim that the studio is below current market value, and buyers should confirm the original price against the SPA.

About the Project, Developer and Community

Cove Edition 5 is an 11-storey residential building by Imtiaz Developments in Wadi Al Safa 5, Dubailand. It offers fully furnished studios and 1 and 2 bedroom apartments with smart home controls for lighting and climate. Shared facilities quoted for the project include a rooftop infinity pool, a clubhouse, a gym, children's play areas, barbecue areas, gardens and lounge spaces.

These project details come from secondary market sources rather than an Imtiaz project page, and buyers should check specifications against Imtiaz's sales documents.

Floor and Furnishing

The agent states the studio is on a mid floor and is fully furnished. The exact floor, unit number, view and parking were not supplied. Request the floor plan and unit number, and confirm what the furnishing package includes.

Payment Plan and Handover

No unit-specific payment details or handover date were supplied. Secondary sources describe a 50/50 project payment plan and estimate completion in Q1 2027. These are project-level figures only. Confirm the amount paid, outstanding balance, transfer conditions and handover date against the SPA and a developer statement of account.

Location and Connectivity

Wadi Al Safa 5 is part of the wider Dubailand area of Dubai. Specific travel times were not verified from an official source and are not quoted here.

Verification Notes

• Agent-supplied: studio type, size, original price, asking price, 15% claim, furnishing, mid floor, off-plan status and urgency.
• Calculated by DPF: AED 90,000 saving, 13.2% below OP and AED 1,505 per sq ft.
• External research: developer, building height, unit mix, amenities, payment plan and completion estimate from secondary market sources.
• Not yet supplied: unit number, exact floor, view, parking, paid amount, handover date, service charge and photographs.