One-Bedroom Apartment at Bay Grove Residences, Dubai Island — Priced Below Original Purchase Price

Property Overview

This is a one-bedroom apartment at Bay Grove Residences by Nakheel, Dubai Island. The 875 sqft unit is offered at AED 2,100,000, which is AED 115,000 (5.2%) below the seller-stated original purchase price of AED 2,215,000. It is an off-plan resale with handover stated for 2028, listed as a distress sale below original price.

Property Highlights

• Type: 1-bedroom apartment
• Size: 875 sqft
• Asking price: AED 2,100,000
• Original purchase price (seller-stated): AED 2,215,000
• Saving vs. original price: AED 115,000 (5.2%)
• Rate: AED 2,400 per sqft
• Handover: 2028 (agent-stated)
• Developer: Nakheel
• Community: Dubai Island

Why the Price Qualifies as Below OP

The classification uses the seller-stated original purchase price of AED 2,215,000 against the current asking price of AED 2,100,000, a difference of AED 115,000, or 5.2%. At 875 sqft the asking price is AED 2,400 per square foot. The benchmark is the original purchase price supplied in the brief; it is not a DLD transaction or a dated market comparison, and DPF has not independently verified it.

About the Project, Developer and Community

Bay Grove Residences is an off-plan waterfront development by Nakheel on Dubai Island, Nakheel's island community off Deira with beaches, marinas and parks. As an off-plan project, it is under construction toward its stated handover. Project specifications and the exact completion date should be confirmed against Nakheel's official documentation.

Layout and Handover

The agent describes a one-bedroom of 875 sqft with handover in 2028. Exact floor level, layout, bathrooms, parking, view and orientation should be confirmed on the floor plan and in the Sale and Purchase Agreement, along with the developer payment plan and outstanding balance.

Verification Notes

• Agent-supplied facts: 1-bedroom type, size (875 sqft), asking price (AED 2,100,000), original purchase price (AED 2,215,000), and 2028 handover.
• DPF-calculated figures: savings amount (AED 115,000), savings percentage (5.2%), and price per square foot (AED 2,400).
• Taxonomy: the community is recorded as 'Dubai Island' (singular), the canonical CMS spelling, although external sources often use 'Dubai Islands' (plural).
• External project research: Bay Grove Residences is confirmed as an off-plan Nakheel development on Dubai Island; unit-specific facts were not independently verified.
• The original purchase price is a seller-stated benchmark and has not been checked against a DLD record.