Furnished Studio at Cove Edition 5 by Imtiaz, Wadi Al Safa 5 – 13.2% Below Original Price

Property Overview

This fully furnished off-plan studio at Cove Edition 5 by Imtiaz Developments in Wadi Al Safa 5 is offered at AED 590,000 for 392 sq ft. That is AED 90,000 (13.2%) below the agent-stated original price of AED 680,000, at about AED 1,505 per sq ft, on a mid floor. The agent describes it as an urgent distress sale.

Property Highlights

• Property type: Studio apartment
• Size: 392 sq ft (agent-stated)
• Asking price: AED 590,000
• Original price: AED 680,000 (agent-stated)
• Saving: AED 90,000, or 13.2% below original price (calculated)
• Price per sq ft: approx. AED 1,505 (calculated)
• Floor: Mid floor (agent-stated)
• Furnishing: Fully furnished (agent-stated)
• Status: Off-plan (agent-stated)
• Developer: Imtiaz Developments

Why the Price Qualifies as Below Original Price

The agent states the studio's original price was AED 680,000 and the seller is now asking AED 590,000. The agent describes this as a 15% reduction; DPF's calculation gives 13.2%.

Calculation

• Saving: AED 680,000 − AED 590,000 = AED 90,000
• Percentage: 90,000 ÷ 680,000 × 100 = 13.2%
• Rate: AED 590,000 ÷ 392 sq ft = approx. AED 1,505 per sq ft

The original price comes from the agent's brief and should be confirmed against the seller's SPA. The comparison is with the seller's purchase price only, not with recent DLD transactions.

About the Project and Developer

Cove Edition 5 is an Imtiaz Developments residential building in Wadi Al Safa 5, within the Dubailand Residence Complex area. Published project information describes an 11-storey building of studios and 1- and 2-bedroom apartments, delivered fully furnished with balconies and smart-home controls for lighting and climate.

Listed amenities include a clubhouse, a rooftop infinity pool with cabanas, a gym, a children's playground, a barbecue area, a lounge and landscaped gardens. Final specifications should be confirmed against Imtiaz's sales documents.

Layout, Floor and View

The agent describes a fully furnished studio on a mid floor. The view, bathroom count, parking and unit number were not supplied. Request the floor plan and unit details before making an offer.

Payment Plan and Handover

The agent did not supply the handover date, payment schedule or amount already paid. Published project information shows expected handover in Q1 2027 and a launch plan with half the price payable on handover, so the remaining balance may be significant. Buyers should confirm the amount paid, the balance due, Imtiaz's transfer and NOC fees and the DLD transfer fee against the SPA and the developer's statement of account.

Location and Connectivity

Wadi Al Safa 5 sits in Dubailand with access to Sheikh Mohammed Bin Zayed Road and Emirates Road. Exact travel times should be checked during a viewing.

Verification Notes

• Agent-supplied facts: project, studio type, size, original price, asking price, stated 15% reduction, urgent sale, fully furnished, mid floor and off-plan status.
• Calculated figures: saving amount, corrected saving percentage and price per sq ft.
• External research: developer, building profile, furnishing, amenities and project handover timeline from published project information; these are not unit-specific.
• Not supplied: handover date for this unit, payment schedule, amount paid, view, bathrooms and parking.