Case Study: Marina Tower A
A studio apartment in Dubai Marina — purchased below market, renovated in 8 weeks, sold at target price. Net IRR 23.4% in 7 months.
Purchase Price
680K AED
Renovation CAPEX
95K AED
Total Cost
775K AED
Sale Price
960K AED
Net Profit
185K AED
Net IRR
23.4%
Timeline
7 months
ROI
23.9%
The Opportunity
The property was a 45 sqm studio in a mid-rise tower in Dubai Marina — a prime location with strong rental demand and resale liquidity. The seller was a non-resident owner who needed to exit quickly due to personal circumstances, pricing the unit 22% below comparable transactions in the same building.
The unit was in original developer condition from 2012 — dated finishes, worn flooring, and an inefficient kitchen layout. Our analysis showed that a targeted renovation could close the gap to recently renovated units trading at 950K–1M AED in the same tower.
Location
Dubai Marina, mid-rise tower
Property Type
Studio, 45 sqm
Condition
Original 2012 developer finish
Deal Structure
The deal was structured through a dedicated SPV with 2-key control, providing full legal protection for the investor.
SPV Registration
UAE-registered company created specifically for this transaction. Clean ownership, no legacy liabilities.
Capital Deployment
680K AED purchase + 95K AED CAPEX budget allocated upfront. No additional capital calls during the project.
2-Key Control
Bank account requiring dual authorization. Weekly budget reports with full expense documentation.
Renovation Timeline
The renovation was completed in 8 weeks — on time and within the approved CAPEX budget of 95K AED.
Week 1–2
Acquisition & Planning
Property purchased, SPV funded, design plans finalized with contractor. Permits obtained from building management.
Week 3–10
Renovation Execution
Full interior renovation: new flooring, modern kitchen, updated bathroom, fresh paint, lighting upgrade. Weekly photo reports to investor.
Week 11–14
Professional Staging & Listing
Professional photography, staging, and listing across major platforms. Positioned as move-in-ready premium studio.
Week 15–30
Sale & Closing
Multiple offers received. Final sale at 960K AED — at the upper range of our target. NOC obtained, transfer completed.
Exit & Returns
The property sold at 960K AED after 7 months, delivering a net IRR of 23.4% to the investor after all fees and costs.
P&L Breakdown
Key Takeaways
Off-Market Sourcing Matters
Buying 22% below market created immediate equity cushion, reducing downside risk and accelerating the path to profitable exit.
Controlled Renovation Scope
Focused on high-impact changes (kitchen, bathroom, flooring) within a fixed budget. No unnecessary extras that extend timelines.
Quick Turnaround
7-month total cycle from purchase to proceeds distribution. Short timelines reduce market exposure and improve annualized returns.
SPV Protection Works
2-key control gave the investor real-time visibility and veto power over every transaction. Full transparency throughout.
Interested in Similar Opportunities?
Get access to our current deal pipeline with full P&L projections and risk documentation.