Property Overview
A 1-bedroom apartment in Binghatti Skyrise, Business Bay by Binghatti Developers at AED 1,600,000 for 762 sqft, equalling AED 2,100 per sqft. 15.3% below the original price of AED 1,890,000, saving AED 290,000. High floor with canal and pool views. Off-plan with handover expected 2027. Agent describes this as an urgent sale.
Property Highlights
- Type: 1BR apartment (Type 02)
- Size: 762 sqft
- Asking price: AED 1,600,000
- Original price: AED 1,890,000
- Saving: AED 290,000 (15.3%)
- Rate: AED 2,100 per sqft
- View: Canal and pool
- Status: Off-plan, handover 2027
Below OP Analysis
The seller purchased at AED 1,890,000 (AED 2,480 per sqft) and is now asking AED 1,600,000, a AED 290,000 reduction (15.3%). Including the 4% DLD fee of AED 75,600 paid at purchase, the seller's total investment was AED 1,965,600. At AED 1,600,000, the total loss is AED 365,600 (18.6% of total investment). The urgency suggests the seller needs to exit before the handover payment becomes due.
DLD Transactions (1BR, Binghatti Skyrise, 2026)
- AED 1,400,000 for 762 sqft, Tower B (29 Sep 2026, AED 1,836 per sqft, off-plan)
- AED 2,039,999 for 849 sqft, Tower B (22 Sep 2026, AED 2,403 per sqft)
- AED 1,905,000 for 831 sqft, Tower A (11 Sep 2026, AED 2,293 per sqft)
- AED 1,625,000 for 831 sqft, Tower A (10 Sep 2026, AED 1,956 per sqft)
- AED 2,774,999 for 966 sqft (27 Jul 2026, AED 2,873 per sqft)
- AED 2,544,999 for 831 sqft (23 Jun 2026, AED 3,063 per sqft)
The only 762 sqft DLD transaction was AED 1,400,000 (September 2026). At AED 1,600,000, this listing is AED 200,000 (14.3%) above that sale. However, the September transaction may represent a particularly distressed seller. The building-wide median has fluctuated, dropping from AED 3,063 per sqft in June to AED 2,124 in September, then recovering to AED 2,375 in October. At AED 2,100 per sqft, this listing is below the October median.
Active Competing 1BR Listings (762 sqft)
- AED 1,609,000, Tower A, 762 sqft, high floor (Bayut, AED 2,112 per sqft)
- AED 1,650,000, Tower C, 762 sqft, Burj Khalifa view (FAM, AED 2,167 per sqft)
- AED 1,900,000, Tower B, 762 sqft, community view (FAM, AED 2,493 per sqft)
At AED 1,600,000, this is the lowest-priced active listing for the 762 sqft layout. The next cheapest is AED 1,609,000 in Tower A (AED 9,000 more). 53 total 1BR listings are active in Binghatti Skyrise starting from AED 1,700,000 across all sizes.
About Binghatti Skyrise
Three residential towers (Tower A, Tower B, Tower C) sharing a podium by Binghatti Developers in Business Bay. Each tower is 54 floors, totalling approximately 3,300 units (2,256 studios, 996 one-bedrooms, 24 two-bedrooms, 26 three-bedrooms) plus 31 retail units. Sales launched October 2024, construction started simultaneously. Originally targeted for Q4 2026 handover, now expected 2027 given the project scale. Amenities include an artificial beach, rooftop infinity pool, gymnasium, spa, padel tennis, miniature golf, skate park, yoga zone and retail. Freehold ownership.
Verification Notes
The asking price, OP, size, high floor, canal and pool view and urgent sale claims are from the agent brief. The 762 sqft is confirmed as the Type 02 1BR layout (761.55 sqft precisely). The OP of AED 1,890,000 (AED 2,480 per sqft) is plausible given June 2026 DLD transactions at AED 2,544,999 to AED 2,562,499 for 831 sqft units. The 15.3% OP discount is genuine. However, the most recent DLD for the same size was AED 1,400,000 (September 2026), suggesting the secondary market for this layout has softened. At AED 1,600,000, the asking is the lowest among active 762 sqft listings but AED 200,000 above the last DLD sale.
