Waterfront G+P+42 Residential and Retail Plot in Dubai Maritime City – 277,000 sq ft GFA, Urgent Sale

Property Overview

Maritime City Waterfront Plot 2 is a 48,000 sq ft development plot in Dubai Maritime City with a stated gross floor area (GFA) of 277,000 sq ft, permitted for a G+P+42 residential and retail building. It is offered at AED 350,000,000, about AED 1,264 per sq ft of GFA, and is posted as an urgent distress sale.

Property Highlights

• Asking price: AED 350,000,000
• Plot area: 48,000 sq ft (agent-stated)
• Gross floor area: 277,000 sq ft (agent-stated)
• Rate per sq ft of GFA: approximately AED 1,264 (calculated)
• Rate per sq ft of plot: approximately AED 7,292 (calculated)
• Implied floor area ratio: about 5.77 (calculated)
• Height: G+P+42 (agent-stated)
• Permitted use: residential and retail (agent-stated)
• Position: waterfront (per plot name)

Why This Listing Is Classified as Below Market

The plot is posted as an urgent distress sale. The brief does not include the seller's original land price, a DLD transaction or a dated comparison with other Maritime City plot sales, so DPF has not calculated a discount and does not claim a specific saving.

The Below Market classification reflects the urgent-sale positioning and is pending DPF confirmation. Land in Dubai is usually compared on price per sq ft of GFA; buyers should benchmark the AED 1,264 rate against recent plot transactions in Dubai Maritime City and comparable waterfront districts.

About Dubai Maritime City

Dubai Maritime City is a 249-hectare district on reclaimed land between Port Rashid and Dubai Dry Docks, part of DP World. Its commercial district is a mixed-use waterfront zone of residential, retail, office and hotel development, with a completed waterfront promenade of about 3.5 km.

The district sells land to sub-developers for residential and commercial projects. According to Dubai Maritime City, most Phase 1 mixed-use plots have been sold, and developers active in the area include Omniyat, Deyaar, DAMAC, Danube Properties, Vakson Group and Select Nautica. Planned community facilities include mosques, parks, RTA bus and marine stations, and police and ambulance centres.

Plot Permissions and Development Potential

The agent states the plot carries a G+P+42 height permission for residential and retail use with 277,000 sq ft of GFA. These permissions must be confirmed from the affection plan and the master developer's planning guidelines, including setbacks, parking ratios, use mix and any construction deadlines attached to the land.

Transfer and Due Diligence

Payment terms were not supplied. Plot purchases at this scale typically require confirmation of title, any outstanding master-developer fees, service charges and transfer conditions before signing. Buyers should engage legal and planning advisers to review the affection plan, title and any development obligations.

Location and Connectivity

Dubai Maritime City sits on the coast next to Port Rashid and Mina Rashid, close to older central districts. DPF has not verified journey times from this plot, so check access routes for your intended use.

Verification Notes

• Agent-supplied: plot name, plot area, GFA, G+P+42 height, residential/retail use, urgent distress positioning, price.
• Calculated by DPF: price per sq ft of GFA and of plot, implied floor area ratio.
• External research: Dubai Maritime City size, location, ownership, land-sale model and sub-developers, from the official Dubai Maritime City website.
• Not supplied: plot number, affection plan, original land price, comparable transactions, payment terms, unit of measurement confirmation.