ROI analysis of apartment in Binghatti Phantom: DLD data and real deals

1. Definition of the area and data structure

Actual location: according to DLD, Binghatti Phantom is located in Al Barsha South Fourth, within the Jumeirah Village Circle master project. The dataset was filtered by the building name Binghatti Phantom and by apartment type — 2 bedrooms (2BR).

The total number of 2BR sale transactions in this building is small, which is typical for new projects: 9 deals were identified, all within the last year and a half. As for rental contracts, DLD has no data for this specific building or even for the master project that would reflect market rates for 2BR units over the past 12 months. For the wider area (Residential, all sizes) there are plenty of valid contracts, but they do not capture the specifics of Binghatti Phantom itself.

2. Analysis of liquidity, sales dynamics and price distribution

Transaction frequency

Sales activity for 2BR units in Binghatti Phantom is concentrated in the second half of 2024 and early 2025:

Q2 2024 — 6 transactions.
Q3 and Q4 2024 — one transaction each.
Q3 2025 — 1 transaction.

This indicates that the asset is new and has been in an early sales phase for roughly the last year to year and a half.

Average price per m² dynamics for the building

Average sale price per square metre for 2BR units in Binghatti Phantom (by quarter):

Q2 2024: 13,000 AED/m²
Q3 2024: 15,166 AED/m²
Q4 2024: 13,799 AED/m²
Q3 2025: 15,359 AED/m²

The price remains in the 13,000–15,400 AED/m² range, with a slight upward trend against a relatively low number of transactions. The combination of low liquidity (a handful of contracts per quarter) and limited price volatility suggests a stable sales level, typical for new towers in Jumeirah Village Circle.

Price dynamics for the area (2BR)

For comparison, in Al Barsha South Fourth over the same period, average 2BR prices were:

Q2 2024: 11,300 AED/m²
Q3 2024: 12,278 AED/m²
Q4 2024: 12,008 AED/m²
Q1–Q3 2025: 12,600–13,200 AED/m²

The gap between current pricing in Binghatti Phantom and the wider area shows a building premium of 15–20%. This spread is typical for new, recently completed, higher-segment projects within JVC.

Distribution of unit sizes and transaction amounts

The sizes of sold 2BR apartments in Binghatti Phantom range from 147 to 171 m². The price range per apartment is from 1,100,000 to 2,396,999 AED. This is a fairly wide corridor, reflecting differences in layouts and floor levels.

3. Analysis of current value and rental market

The average transaction price over the last 12 months for 2BR units in Binghatti Phantom is 15,359 AED/m². For comparable properties in Al Barsha South Fourth it is 12,854 AED/m².

Rental market: it is not possible to determine a reliable rental rate for 2BR units in this building (or even within the Jumeirah Village Circle master project) based on open DLD contracts — there are no valid data under these filters for the past 12 months. Even when expanding to the entire Al Barsha South Fourth area, there are no direct rental contracts specifically for 2BR units with current rates. This is unsurprising: the project is new and likely does not yet have a meaningful number of occupied rental units, or the tenant profile is not paying standard market rates during the initial handover period.

Accordingly, it is impossible to calculate a return on investment (ROI) metric relying solely on DLD data. Without confirmed rental data, it is also incorrect to build a fair value calculation based on a target yield of 7–8% per annum.

4. Conclusions on liquidity and outlook

The main turnover in the building consists of recent transactions; all deals fall within the current period (2024–2025). The asset is liquid at the sales and immediate post-handover stage. The secondary market and rental liquidity have not yet formed.
Against the wider area, the new tower is selling at a clear premium (+15–20% to the average 2BR price for comparable sizes in Al Barsha South Fourth).
The average 2BR size is around 150–170 m², and the spread in transaction prices is quite wide, reflecting genuine variability in layouts and fit-out levels.
The rental rate (and therefore ROI) for the building is not captured in DLD — an investor must factor in additional market risks related to tenant absorption and demand dynamics.

5. Investor outlook

This is a typical asset for the new-build segment of JVC: sales were active at handover, and a direct premium to the wider area is evident. It is not yet possible to assess future rental yield without the emergence of actual rental contracts for the building or at least for the master project. At this stage, the property is more suitable for end-user purchase or for a subsequent exit to the secondary market than for an investment with guaranteed income. The recommendation for an investor is to monitor the first rental contracts appearing in DLD to enable a more accurate yield assessment.