Above breakup +3.6%
Cubital Heights 1
26 st · 78×1BR · 12×2BR + 3 retail + wash · ~85 000 sqft
Overpriced on income — bid far below
Offer 115M is ABOVE breakup 111M and income 90.9M. IRR −3.4% — target ~83.6M.
Package offer
AED 115.0M
111M
piece-by-piece
Price held for you
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02
Why it's in distress
Sold one by one, the 120 units are worth ~111M. The offer is 115M — +3.6% ABOVE liquidation, and income doesn't back it.
Two valuation bases. Entry priced by liquidation (68.7M — a floor); exit by income. Both above the 60M offer.
03
Asset income — rent
Net yield on offer
5.24%
net 6.02M ÷ offer 115.0M · cap below market 6.62%
NET rent by year
stabilized · +3%
04
Full entry — all costs
05
Exit in 3 years
Profit after exit · base
−11.6M
−9% ROI 3y
−3.4% IRR/yr · loss
Exit 2029 · three scenarios
Loss-making — 0 of 9 clear 8%
Every cell is red; best case +0.8%. Value only via a hard bargain to ≤83.6M.
06
Resilience — stress test
Closing offer
Bid far below the offer
On the 115M offer IRR is −3.4% — overpriced. Our target ~83.6M (−27%).
Offer valid
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