Property Overview
A residential villa plot in District One (Al Merkadh zone), Mohammed Bin Rashid City at AED 17,500,000, 18.6% below the agent-stated market value of AED 21,500,000, saving AED 4,000,000. Plot area 6,334 sqft at AED 2,763 per sqft. Freehold. Near the Crystal Lagoon. Net to owner. Motivated seller.
Property Highlights
- Type: Residential villa plot
- Plot area: 6,334 sqft
- Asking price: AED 17,500,000 (net to owner)
- Agent market value: AED 21,500,000
- Saving: AED 4,000,000 (18.6%)
- Rate: AED 2,763 per sqft
- Location: Near Crystal Lagoon
- Building envelope: B+G+2+Roof
- Developer: Meydan (Dubai Holding)
- Tenure: Freehold
Below Market Analysis
Active Competing Plot Listings (6,333 sqft, District One)
- AED 20,500,000 (FAM Properties, AED 3,237 per sqft)
- AED 22,000,000 (Driven Properties, AED 3,474 per sqft)
- AED 22,000,000 (Dubizzle, AED 3,474 per sqft, multiple options)
The 6,333 to 6,334 sqft plot is a standard configuration in District One. Competing plots of the identical size are listed at AED 20,500,000 to AED 22,000,000 (AED 3,237 to AED 3,474 per sqft). At AED 17,500,000 (AED 2,763 per sqft), this listing is:
- AED 3,000,000 (14.6%) below the cheapest competing listing
- AED 4,000,000 (18.6%) below the agent's market benchmark
- AED 4,500,000 (20.5%) below the highest competing listing
This is a significant and verifiable discount. The agent's AED 21,500,000 benchmark sits in the middle of the active listing range and is credible.
District One Sales Context
Property Finder reports 304 sale transactions in District One over the past 12 months, though volume is down 52.6% year on year. Recent built villa transactions (land plus villa) show prices of AED 1,859 to AED 2,520 per sqft. Raw land plots trade at a premium because the buyer controls the design and specification of the villa. The AED 2,763 per sqft asking for this raw plot is above the built villa range, which is typical: a completed villa at AED 2,200 per sqft includes a builder's margin and older specification, while a new custom build on a premium plot near the lagoon would target a higher completed value.
NTO Buyer Costs
- Sale price to seller: AED 17,500,000
- DLD transfer fee (4%): AED 700,000
- Agency commission (typically 2%): AED 350,000
- Admin and trustee fees: approximately AED 5,000 to AED 10,000
- Estimated total buyer outlay: AED 18,555,000 to AED 18,560,000
Development Potential
Building envelope: Basement + Ground + 2 Floors + Roof. On a 6,334 sqft plot, estimated BUA of 6,000 to 10,000 sqft depending on plot coverage ratio. Estimated additional costs for a high-end custom villa:
- Design and approvals: AED 300,000 to AED 800,000
- Construction (AED 400 to AED 800 per sqft BUA): AED 2,400,000 to AED 8,000,000
- Landscaping and pool: AED 300,000 to AED 1,000,000
- Total development budget: AED 3,000,000 to AED 9,800,000
- All-in cost (plot plus build): AED 21,555,000 to AED 28,360,000
A completed villa of 8,000 sqft BUA on this plot, at the District One average of AED 2,207 per sqft (built), would have an indicative value of approximately AED 17,656,000. At premium spec near the lagoon, values could reach AED 25,000,000 to AED 35,000,000 for larger BUA with high-end finishes.
About District One, MBR City
A gated villa community developed by Meydan (now part of Dubai Holding) within Mohammed Bin Rashid City. The community was master-planned around the Crystal Lagoon, a man-made beach and lagoon facility. District One Villas (189 villas in the first phase) began handovers in 2017. The community includes 7 km of cycling and jogging tracks, a boardwalk, parks, and proximity to the Meydan Racecourse. Accessible via Al Khail Road and Mohammed bin Zayed Road. Approximately 10 minutes to Downtown Dubai. Freehold ownership.
Verification Notes
The asking price (AED 17,500,000), plot size (6,334 sqft), NTO terms, Crystal Lagoon proximity and motivated seller status are from the agent brief. The AED 21,500,000 market benchmark is verified against active listings of the same size (AED 20,500,000 to AED 22,000,000). The 18.6% discount is credible and independently confirmed. The building envelope (B+G+2+Roof) is confirmed by active listings. The exact plot number and precise lagoon proximity are not specified and should be verified. District One is a freehold community within MBR City.