2-Bedroom Apartment with Maid's Room in Balqis Residence Block A, Kingdom of Sheba — Below Market, Tenanted

Property Overview

This 2-bedroom apartment with a maid's room in Balqis Residence Block A, Kingdom of Sheba, Palm Jumeirah, is offered at AED 4,299,999. The unit measures 1,971 sq ft, sits on a mid-floor with panoramic sea and golf villa views, and is currently tenanted until March 2027, offering an immediate rental yield.

Property Highlights

• Bedrooms: 2, each en-suite with a private sea-view balcony
• Maid's room included
• Bathrooms: 4
• Size: 1,971 sq ft
• Asking price: AED 4,299,999
• Price per sq ft: approximately AED 2,182
• Parking: 1 dedicated space
• Occupancy: Tenanted until March 2027
• Building: Balqis Residence Block A, Kingdom of Sheba, Palm Jumeirah
• Developer: IFA Hotels & Resorts

Why the Price Qualifies as Below Market

The agent's brief describes this directly as a "Below Market Unit" and the "lowest priced" 2-bedroom option available. No specific dated comparable sale, valuation report or price benchmark was supplied alongside the brief to support the comparison, so this classification is carried as the agent's stated basis rather than an independently verified market comparison. Buyers should request supporting comparable evidence before relying on this classification.

About the Project, Developer and Community

Balqis Residence is a gated, mixed-use waterfront enclave by IFA Hotels & Resorts within the Kingdom of Sheba master development, on the West Crescent of Palm Jumeirah. The complex spans roughly 1,478,000 sq ft and comprises apartments, townhouses, penthouses and beachfront villas with 2 to 7-bedroom layouts, across Block A, Block B and Wyndham Residences The Palm. Construction began in 2008 and the project was substantially completed between 2018 and 2020. Shared amenities include a swimming pool, gym, spa and concierge services, alongside direct private beach access.

Occupancy and Investment Note

The agent's brief states the unit is tenanted until March 2027, meaning the buyer would acquire the property with an existing rental income stream through that date. No specific rental amount was supplied, so it is omitted rather than assumed; buyers should confirm the current lease terms with the agent.

Location and Connectivity

Kingdom of Sheba sits on the West Crescent of Palm Jumeirah, near Atlantis The Palm on Crescent Road. Specific walking distances or drive times to individual amenities from this unit have not been supplied and are not stated here.

Verification Notes

Unit-specific facts — price, size, bedrooms, bathrooms, parking, furnishing status, view and tenancy status — come from the agent's brief and have not been independently verified by DPF. The price per square foot has been independently calculated from the supplied price and size. Project- and community-level facts (developer, completion status, amenities) are drawn from IFA Hotels & Resorts' published Balqis Residence project information. No original purchase price or dated market comparable was supplied, so no savings figures are shown. Floor number was not supplied in the brief (only "mid-floor") and is omitted rather than assumed. This listing remains a Draft pending Shabana's review.