3-Bedroom with Private Beach Access at Bay Grove Residences, 11% Below OP

Property Overview

This 3-bedroom apartment in Bay Grove Residences, Dubai Island, is offered at AED 4,400,000. The agent states a built-up area of 2,100 sq ft on a low floor, with access to the project's private beach. Against an agent-stated original purchase price of AED 4,945,000, the asking price is AED 545,000 or 11.0% below OP.

Property Highlights

• Asking price: AED 4,400,000
• Original purchase price: AED 4,945,000
• Below OP by: AED 545,000 (11.0%)
• Agent-stated discount to total cost: 14.38%
• Bedrooms: 3
• Built-up area: 2,100 sq ft (agent-stated)
• Asking rate: about AED 2,095 per sq ft (OP rate about AED 2,355)
• Floor: low floor (agent-stated)
• Private beach access
• Developer: Nakheel

Why the Price Qualifies as Below OP

The agent supplied an original purchase price of AED 4,945,000 and a selling price of AED 4,400,000. The difference is AED 545,000, which is 11.0% of the OP and matches the agent's figure of 11.02%.

The agent also states the price is 14.38% below the seller's total cost. The total cost figure was not supplied; adding the 4% DLD fee to the OP gives about AED 5,142,800, against which the asking price is about 14.4% lower, close to the agent's figure. Confirm the seller's total cost with the agent if this comparison is used.

The amount already paid to Nakheel and the remaining balance were not supplied. Published plans for the project place 30% on handover, so confirm the outstanding balance and whether the asking price includes it, using the SPA and Nakheel's statement of account.

About Bay Grove Residences and Dubai Island

Bay Grove Residences is a Nakheel residential project on Dubai Island, the master development formerly known as Deira Islands. Published project information describes multiple residential towers with 1- to 4-bedroom apartments, duplexes and penthouses, and amenities including an infinity pool, private beach access, gym, children's play areas and pet-friendly facilities.

Layout, Floor and View

The agent describes a three-bedroom apartment of 2,100 sq ft on a low floor. The tower, exact floor, view, bathroom count and parking were not supplied. Request the floor plan to confirm the size.

Payment Plan and Handover

The agent did not supply a handover date or payment plan. Published information shows different handover dates for different phases of Bay Grove Residences, so confirm the phase, tower and handover date for this unit in the SPA.

Location and Connectivity

Dubai Island sits off the Deira coast on Dubai's northern waterfront, linked to the mainland by road bridges. Exact travel times were not supplied.

Verification Notes

• Agent-supplied: price, OP, built-up area, bedrooms, low floor, private beach, 11.02% and 14.38% discount figures.
• Calculated by DPF: discount amount and percentage, rates per sq ft and the OP plus DLD cross-check.
• External research: developer, project structure, amenities and published payment structure.
• Not supplied: tower, phase, exact floor, view, bathrooms, parking, handover date and amount paid.