3-Bedroom Waterfront Apartment in Marsa Plaza Core 1, Dubai Festival City, Rented at AED 360,000 and AED 115,000 Below Original Price

Property Overview

A 3-bedroom waterfront apartment on a high floor in Marsa Plaza Core 1, Dubai Festival City, Dubai. The built-up area is 2,353 square feet and the unit includes 2 parking spaces. The apartment is currently tenanted at AED 360,000 per year. The asking price is AED 3,550,000, which is AED 115,000 below the agent-stated original purchase price of AED 3,665,000. This is a ready, completed property.

Property Highlights

• Type: 3-bedroom apartment
• Built-up area: 2,353 sq ft
• Floor: high floor
• View: waterfront (Dubai Creek)
• Parking: 2 spaces
• Tenancy: rented at AED 360,000 per year
• Asking price: AED 3,550,000
• Price per square foot: AED 1,509
• Approximate gross rental yield: 10.1%
• Status: ready

Why the Price Qualifies as Below Original Price

The selling agent has stated an original purchase price of AED 3,665,000 for this unit. The current asking price of AED 3,550,000 is AED 115,000 lower, a reduction of 3.1%. This qualifies the listing as a Below OP distress deal on DistressPropertyFinder.com.

The original purchase price is based on the agent's statement and has not been independently verified against the seller's SPA or DLD title deed. Buyers should request documentary confirmation of the original transaction amount before committing.

Rental Income

The apartment is currently rented at AED 360,000 per year according to the agent brief. At the asking price of AED 3,550,000, this produces an approximate gross rental yield of 10.1%. This yield figure is calculated by DistressPropertyFinder.com and does not account for service charges, maintenance, agency fees, insurance or any vacant periods. The tenancy contract terms, expiry date, renewal history and any RERA rental index adjustments have not been provided. Buyers purchasing a tenanted property should obtain a copy of the existing tenancy contract and verify rental income directly.

About Marsa Plaza

Marsa Plaza is the flagship high-rise residential tower in Dubai Festival City, situated on the waterfront along Dubai Creek. The building offers one- to four-bedroom apartments and duplex layouts. It is divided into multiple cores, with Core 1 being one of the sections.

The building is noted for its construction quality, including 280-centimetre floor-to-ceiling triple-strength glass that reduces external noise. Amenities include a 25-metre lap pool and direct boardwalk access to Dubai Festival City Mall. Marsa Plaza was among the first residential buildings delivered within the community.

About Al-Futtaim Real Estate

Dubai Festival City was developed by Al-Futtaim Real Estate, the property development arm of the Al-Futtaim Group, a diversified UAE conglomerate. Al-Futtaim Real Estate's portfolio includes Dubai Festival City, Festival Plaza in Jebel Ali and Festival City developments in Cairo and Doha.

About Dubai Festival City

Dubai Festival City is a freehold waterfront community spanning over 5.2 million square metres along the eastern bank of Dubai Creek. The community combines residential, commercial and leisure uses within a single master-planned development. Key features include a 3.3-kilometre waterfront promenade, Dubai Festival City Mall with over 400 retail outlets, an IHG hotel complex with more than 1,600 rooms, a marina and the IMAGINE light and water show.

The community is approximately 2 kilometres from Dubai International Airport and is connected via Al Rebat Street and Dubai-Al Ain Road. Schools within or near the community include Deira International School, Universal American School and Al Mawakeb School Al Garhoud.

Verification Notes

The asking price, original purchase price, bedroom count, built-up area, high-floor position, waterfront location, 2 parking spaces and current rental of AED 360,000 per year are sourced from the agent brief received on 26 August 2026. The savings amount (AED 115,000) and savings percentage (3.1%) are calculated by DistressPropertyFinder.com. The gross rental yield of 10.1% is a simple calculation based on the stated annual rent and asking price; it does not account for expenses. Building and community facts have been checked against published building guides and community profiles. The original purchase price and tenancy contract have not been independently verified. Buyers should conduct their own due diligence on both the price history and the existing tenancy.