- Distress deal: Prime waterfront residential plot for sale – facing Palm Jebel
Ali - Plot Size: 72,650 sq.ft
- Permitted GFA: 653,811 sq.ft
- Permitted Height: G+51
- Permitted Use: Can be converted from a residential tower permit to a
residential villa permit - Asking Price: AED 250m which equates to AED 382 psf of permitted GFA
(NOTE AED 145m discount against Plot OP Value: AED 395m). - The owner is facing a major financial situation and willing to lose as much
as AED 145m below OP in order to raise the funds needed to meet some
major bank payments. There seems to be a court case going on between
Nakheel and the owner. This document that was issued by the seller
lawyer gives all the details. Nakheel is putting its heavy weight as well to
help the seller close the deal due to his social status and old relationship
with Nakheel. All the payments and penalties that will be settled by the
buyer will be part of the 250m price tag.
Mixed Use Plot – Downtown Side – Non Freehold
Dubai, Sheikh Zayed Road (SZR)
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Bedrooms
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Bathrooms
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Parking
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