About the property
The corner unit in the Seascape, measuring 1’390 square foot and priced at 2,790,000 AED, presents a unique investment opportunity. The apartment is located on a mid-floor with beautiful views of the sea, the yacht marina, the future Maritime City skyline, and the peninsula area of Rashid Yacht & Marina. The building is currently under construction and will be completed in 2026, with the full development of the new district by state developer Emaar expected by 2028. This allows for rental income to be generated over two years, and similar units in the latest project in this area were sold at prices ranging from 3 to 3.5 million AED.
In comparison with existing locations:
1. La Mer by Meraas
- Coastal area neighboring Rashid Yacht & Marina.
- Average price for mid-to-upper level units: 3,014 AED per square foot.
- Adjusted price for our unit’s area: 4,189,460 AED.
2. Emaar 52|42
- Coastal project from Emaar, located along the shoreline but without direct beach access.
- Average price for similar apartments: 3,103 AED per square foot.
- Adjusted price for our unit: 4,313,170 AED.
3. Dubai Creek Harbour by Emaar
- Located further from the coastline, yet offering water views over the canal.
- Average price for similar apartments: 2,807 AED per square foot.
- Adjusted price for our unit: 3,901,730 AED.
The projected minimum capital growth of 10% by 2026 estimates the value of our unit as follows:
• Compared to La Mer: 4,608,406 AED – capital growth of 52.7%.
• Compared to Emaar 52|42: 4,744,478 AED – capital growth of 57.2%.
• Compared to Dubai Creek Harbour: 3,901,730 AED – capital growth of 29.3%.
These calculations emphasize the attractive capital growth potential for the Seascape project, especially in light of current price per square foot levels in other areas such as Dubai Hills, Creek Harbour, and Downtown.
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Posted on 11 November (14 days ago)
ID 261286
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