ROI analysis of apartment in MIRACLZ TOWER: DLD data and real deals

1. Definition of the area and data structure

Actual location: According to DLD transaction data, MIRACLZ TOWER belongs to the Al Barshaa South Third area and the Arjan master project. The DLD database for this building contains a significant number of transactions for 2BR (2-bedroom) apartments, which makes it possible to analyse price dynamics and levels directly for this asset and compare them with area benchmarks.

2. Transaction activity in the building

A total of 76 sales of 2-bedroom apartments in MIRACLZ TOWER have been recorded for the entire observation period starting from 2020. The main activity fell on 2022–2025, with transactions taking place regularly every quarter, which indicates decent liquidity for the building itself. Demand, while not at market peak levels, remains stable, which is typical for the mass segment of Arjan.

3. Price per sqm dynamics: building vs area

The average price per square metre for a 2BR apartment in MIRACLZ TOWER over the last 12 months was around AED 10,200/m². For comparison, the equivalent figure for Al Barshaa South Third according to DLD is AED 12,593/m². Thus, sales in the building are taking place at roughly a 19% discount to the average market level in the area for comparable units and layouts. This may provide a discounted entry point for a buyer or reflect the developer’s exit phase into the secondary market.

Long-term dynamics:
– In 2021–2022 the price per sqm fluctuated between AED 8,200 and 11,000/m².
– In 2023 there were swings from AED 8,400 to 11,700/m², followed by moderate growth.
– During 2024 and over the last 12 months, average prices in MIRACLZ TOWER stabilised in the range of AED 10,200–11,200/m².
– In Al Barshaa South Third the trend is more clearly upward: from AED 9,200–10,000/m² at the beginning of 2022 to AED 11,300–12,600/m² in 2024–2025.

Accordingly, MIRACLZ TOWER is slightly lagging in terms of growth rate and current price per sqm relative to the area benchmark, but maintains a stable level of liquidity.

4. Rental market and yields

According to DLD, there are currently no directly registered rental contracts for 2BR apartments in MIRACLZ TOWER and in the Arjan master project: either due to the building’s recent delivery, or because leases are being registered under alternative names/tags in Ejari, or because owners predominantly keep units vacant or use them for short-term rentals. Moving up to the area level shows strong statistics — over the last 12 months more than 50,000 apartment rental contracts of various types have been concluded in the area.

The average annual rental rate per square metre in Al Barshaa South Third (across all apartment types and the entire residential stock) over the last 12 months is AED 943/m². Dynamics for 2020–2024:
– 2020: AED 550–710/m²,
– 2021: ~AED 570–620/m²,
– 2022: AED 610–660/m²,
– 2023: AED 690–750/m²,
– 2024: growth to AED 800–870/m² depending on the quarter.

The latest peaks in rental rates have been recorded above AED 900/m², but in absolute terms the market has not yet fully recovered to the level of Dubai’s premium projects.

5. ROI calculation and entry benchmarks

– Current average purchase price per sqm in MIRACLZ TOWER over the last 12 months: AED 10,200/m².
– Area rental rate per sqm over the last 12 months: AED 943/m².

The current indicative “gross” yield at the area level is: 943 / 10,200 ≈ 9.2% per annum (gross), if MIRACLZ TOWER is viewed as a reference lot in the market (by area, not by building). Taking into account acquisition costs (approximately +7–8% to the entry price: DLD, brokerage, registration, and vacancy), the net yield decreases to about 8.5–8.6% (943 / 10,934).

A fair price range for an investor targeting a 7–8% annual yield would be AED 11,800–13,500/m² (based on area-level rents). The current market, especially in this building, offers yields above this level, which makes MIRACLZ TOWER an attractive asset from a classic buy-to-let perspective: the building is trading at a noticeable discount to the area.

6. Conclusions on liquidity and outlook

– The building has stable liquidity, with 2BR transactions occurring regularly every quarter.
– The price per sqm in MIRACLZ TOWER is lower than in Al Barshaa South Third, which gives buyers an advantage.
– The area is characterised by a large volume of rental transactions, and the growth in rental rates in 2022–2024 supports its investment appeal.
– MIRACLZ TOWER may be of interest to an investor focused on a stable long-term income stream, with a current “below-market” entry point and potential for future price convergence.
– The main risk is the lack of data on actual long-term rentals in this building; there may be specific demand patterns (for example, a focus on short-term rentals or a low share of long-term tenants).

The chart based on DLD data is shown below.