Rented 3-Bedroom Waterfront Apartment in Marsa Plaza, Festival City, Below OP

Property Overview

This 3-bedroom apartment in Marsa Plaza Core 1, Dubai Festival City, is offered at AED 3,550,000. It has a built-up area of 2,353 sq ft on a high floor with a waterfront outlook, and is currently rented at AED 300,000 per year according to the agent. Against an agent-stated original purchase price of AED 3,665,000, the asking price is AED 115,000 or 3.1% below OP.

Property Highlights

• Asking price: AED 3,550,000
• Original purchase price: AED 3,665,000
• Below OP by: AED 115,000 (3.1%)
• Bedrooms: 3
• Built-up area: 2,353 sq ft
• Asking rate: about AED 1,509 per sq ft (OP rate about AED 1,558)
• Floor: high floor (agent-stated)
• Outlook: waterfront (agent-stated)
• Tenancy: rented at AED 300,000 per year (agent-stated)
• Gross rental yield at asking price: about 8.5% (calculated)
• Developer: Al-Futtaim

Why the Price Qualifies as Below OP

The agent supplied an original purchase price of AED 3,665,000 and a selling price of AED 3,550,000. The difference is AED 115,000, which is 3.1% of the OP.

The discount is modest; the main appeal is the existing tenancy. At the agent-stated rent of AED 300,000 a year, the gross yield on the asking price is about 8.5%, before service charges, maintenance and vacancy. Buyers should verify the rent, lease end date and payment status from the Ejari-registered tenancy contract, as the figure is high for the building and has not been checked by DPF.

About Marsa Plaza and Dubai Festival City

Marsa Plaza is a completed Al-Futtaim residential building in Marsa Al Khor, Dubai Festival City, along Festival Boulevard. It contains around 510 units across several cores, including 1- to 3-bedroom apartments and duplexes. Published facilities include a gym, outdoor pools, fitness studios, a supermarket, restaurant, dry cleaning, covered parking and 24-hour security.

Layout, Floor and View

The agent describes a three-bedroom apartment of 2,353 sq ft in Core 1 on a high floor with a waterfront outlook. The exact floor, bathroom count, parking and furnishing were not supplied.

Tenancy and Status

The building is complete and the unit is tenanted. The lease end date, payment schedule and any notice requirements were not supplied. A buyer would take over the existing tenancy under Dubai rental law, so confirm the terms before committing.

Location and Connectivity

Dubai Festival City sits on the Dubai Creek waterfront near Dubai International Airport. Published information places Marsa Plaza a short walk from Marsa Al Khor Park and a few minutes from Dubai Festival City Mall.

Verification Notes

• Agent-supplied: price, OP, built-up area, bedrooms, core, high floor, waterfront outlook and AED 300,000 annual rent.
• Calculated by DPF: discount amount, discount percentage, rates per sq ft and gross yield.
• External research: developer, completion status, unit mix and facilities from published information.
• Not supplied: exact floor, bathrooms, parking, lease end date, service charges and title deed details.