3BR | corner unit | Damac Seacrest, Chelsea tower | Dubai Maritime City

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Type
Apartment, Residential

3
Bedrooms

4
Bathrooms

2100 sqft
Area Size

For Sale Off-plan Below Original Price Distress

3BR | corner unit | Damac Seacrest, Chelsea tower | Dubai Maritime City | 11,6% below OP

AED5,371,000

Description

Presenting a 3 bedroom corner apartment with a full sea view, 2,100.80 sq ft, assignment sale at 11.6 percent below the original purchase price. The project is Chelsea FC branded residence — the first Premier League branded development in the world

A corner three bedroom with an oversized balcony and uninterrupted sea views, released as an off-plan assignment in DAMAC Seacrest.

The original buyer purchased at AED 5,371,000 and has already funded 23 percent of the price. The unit is now offered at AED 4,750,000 which is 11,6% below the original price.

THE UNIT

Three bedrooms
Corner layout, oversized balcony
Size 2,100.80 sq ft
Floors 6 to 10.
Full sea view

Apartments are handed over fitted and unfurnished. Kitchens are fully fitted with full-height cabinetry and branded appliances. Interiors include built-in wardrobes, laundry and storage provision, walk-in showers and stone finishes throughout.

THE NUMBERS

Original purchase price AED 5,371,000, equivalent to AED 2,557 per sq ft. Current asking price AED 4,750,000, equivalent to AED 2,261 per sq ft. The difference is AED 621,000, or 11.6 percent below the original price. A DLD transfer fee of 4 percent applies on top, together with the developer NOC fee.

PAYMENT STRUCTURE

The plan is 60/40. The seller has paid 23 percent of the original price, approximately AED 1,235,330.

The incoming buyer assumes the remaining 77 percent, approximately AED 4,135,670, payable to the developer on the existing schedule. Cash required at transfer is therefore around AED 614,330 plus DLD and NOC.

WHY THIS IS BELOW MARKET

The seller is exiting at a loss of AED 621,000 against what has already been paid into the unit. This is a genuine distressed assignment rather than a repriced launch unit. The buyer takes over a position funded well beyond the cash required to enter it.

THE PROJECT

DAMAC Seacrest is a waterfront development by DAMAC Properties in Dubai Maritime City, the artificial peninsula between Port Rashid and Drydocks World. The project offers one, two and three bedroom apartments with direct access to the coastline and a private beachfront promenade. Downtown Dubai and DIFC are within a short drive, and Dubai International Airport is roughly fifteen minutes away.

Chelsea Residences is the first football-branded residential community in the world, delivered by DAMAC in official partnership with Chelsea Football Club, with architecture by Gensler. Branded amenities include a rooftop pitch, training and simulation facilities, recovery and wellness zones and Chelsea-themed dining.

HANDOVER

Expected 31 December 2029, consistent with the developer schedule published for the project.

SERVICE CHARGES

Service charges have not yet been established for this tower. Rates for completed buildings are approved annually through Mollak, and the figure for Seacrest will only be set after handover. Average service charges in Dubai Maritime City run between 18 to 25 AED per sqft.

Comparable waterfront towers in the district should be used as a working guide, and the final rate confirmed with the developer before purchase.