1 Bedroom Apartment in Altus Building 1, Dubai Creek Harbour, Below OP

Property Overview

This one-bedroom off-plan apartment in Altus Building 1, Dubai Creek Harbour, is offered as a distress resale at a final cash price of AED 1,690,000. The agent compares this with the seller's original price plus 4% DLD fee of AED 1,900,000, a gap of AED 210,000 or 11.1%. The unit measures 730 sq ft and sits on a high floor with a park view.

Property Highlights

• Property type: Apartment
• Bedrooms: 1
• Built-up area: 730 sq ft
• Final asking price: AED 1,690,000 cash (previously listed at AED 1,790,000)
• Original price including 4% DLD: AED 1,900,000 (agent-stated)
• Saving vs OP plus DLD: AED 210,000 (11.1%)
• Price per sq ft: approx. AED 2,315 (calculated)
• Floor: High floor (agent-stated)
• View: Park view (agent-stated)
• Balance due on handover: AED 363,177 (agent-stated)
• Developer: Emaar Properties

Why the Price Qualifies as Below OP

The agent states the seller's original cost was AED 1,900,000, including the 4% Dubai Land Department transfer fee. Against that figure, the AED 1,690,000 asking price is AED 210,000 or 11.1% lower.

Because the 4% DLD fee is included in the AED 1,900,000 figure, DPF has also estimated the underlying purchase price without the fee. Dividing AED 1,900,000 by 1.04 gives approximately AED 1,826,923. On that basis, the asking price is about AED 136,923 or 7.5% below the estimated pre-fee original price, so the unit remains below OP on either measure.

Calculation

• AED 1,900,000 minus AED 1,690,000 = AED 210,000 (11.1% below OP plus DLD)
• AED 1,900,000 / 1.04 = approx. AED 1,826,923 estimated OP before DLD
• AED 1,826,923 minus AED 1,690,000 = approx. AED 136,923 (7.5% below estimated OP)
• AED 1,690,000 / 730 sq ft = approx. AED 2,315 per sq ft

The original price is taken from the agent's resale brief. DPF has not reviewed the seller's SPA.

About the Project, Developer and Community

Altus is an Emaar Properties residential project in Dubai Creek Harbour made up of two buildings offering one-, two- and three-bedroom apartments. Published project information shows that sales launched in December 2024.

Dubai Creek Harbour is Emaar's waterfront master community on the banks of Dubai Creek, between Ras Al Khor Wildlife Sanctuary and Dubai Festival City. It includes parks, a creek-side promenade, Creek Beach and retail and dining areas.

Layout, Floor and View

The agent confirms a one-bedroom layout of 730 sq ft on a high floor with a park view. The exact floor number, bathroom count and parking allocation were not supplied and should be confirmed from the SPA and floor plan.

Payment Plan and Handover

The agent states that AED 363,177 remains payable on handover. Buyers should confirm whether this balance is included in the AED 1,690,000 cash price or payable on top of it before agreeing terms.

The agent lists handover as Q1 2027. Published project information shows expected completion in Q1 2029. The handover date should be confirmed in the seller's SPA and directly with Emaar, together with the developer's resale NOC requirements.

Location and Connectivity

Dubai Creek Harbour sits close to Downtown Dubai and Dubai International Airport, with road access via Ras Al Khor Road and Al Khail Road. Exact travel times depend on traffic and the building's final access points.

Verification Notes

• Agent-supplied facts: project, building, one bedroom, 730 sq ft BUA, OP plus 4% of AED 1,900,000, final cash price AED 1,690,000, previous listing at AED 1,790,000, high floor, park view, Q1 2027 handover and AED 363,177 balance on handover.
• Calculated by DPF: savings against OP plus DLD, estimated OP before DLD and price per sq ft.
• External project research: developer, two-building layout, unit mix, launch timing and published completion date.
• Not supplied: exact floor, bathrooms, parking and service charge.