ROI analysis of apartment in Empire Residence: DLD data and real deals

1. Definition of the area and data structure

Actual location: According to DLD data, the Empire Residence building is located in Al Barsha South Fourth, within the Jumeirah Village Circle master project. This is the key reference point for comparing the building with the wider area and master project when analysing market indicators.

Database structure: For 2-bedroom apartments in Empire Residence, the database records 25 sale transactions (filtered by rooms_en = ‘2 b/r’). There are no direct rental contracts in the DLD database for this building or the Jumeirah Village Circle master project; therefore, further benchmarking is carried out at the level of Al Barsha South Fourth, where there are more than 120,000 apartment lease contracts in total (all unit types).

2. Transaction and price dynamics — Empire Residence and the area

Sales, building dynamics (2-bedroom apartments, last 2 years):
– over the last 12 months, the average purchase price in the building was 11,907 AED/m²;
– in the last completed quarter (Q4 2024) — 10,692 AED/m², a slight decrease compared with Q1 2024 (13,064 AED/m²);
– the highest recorded quarterly average was in Q1 2024 — 13,064 AED/m²; in Q4 2023 / Q3 2023 — 10,851–10,797 AED/m².

Al Barsha South Fourth (2-bedroom apartments):
– average price per m² over the last 12 months — 12,949 AED;
– over the last 2 years there has been a steady increase: from ~8,325 AED/m² (Q3 2022) to 11,428–12,275 AED/m² in 2024 and above 13,000 AED/m² in 2025;
– transaction volume in the area is consistently high (hundreds of 2-bedroom deals per quarter).

Conclusion: In 2024, Empire Residence was selling at a price per m² around 8% below the average level in the area for comparable apartments.

3. Rentals — data availability

There is no DLD data on direct rental contracts in Empire Residence (including 2-bedroom units) or in the Jumeirah Village Circle master project. In Al Barsha South Fourth, however, the total number of apartment lease contracts is very high, which allows us to use an average rental benchmark at the area level.

Average rental rate (apartments in the area, all sizes, last 12 months):
– 1,043 AED/m²/year.
– Over the past year, growth has been notable: from 849 AED/m² (Q1 2024) to 967 AED/m² (Q4 2024), with a clear upward trend in rental rates.

Important: this value is averaged across the entire area and all apartment types. There is no DLD data for specific 2-bedroom units in Empire Residence or the master project, which is typical for new developments.

4. Yield (ROI) and “fair price” assessment

It is not possible to calculate a building-specific ROI due to the absence of an actual rental history for the property. Therefore, ROI is provided only at the area level (Al Barsha South Fourth, all apartments):

– Average gross ROI = 1,043 / 12,949 ≈ 8.1% per annum (relative to the average transaction in the area).
– Taking into account transaction costs (7–8% of the purchase price), the realistic net ROI is approximately 7.5–7.6%.

Indicative “fair price range” for an investor targeting a 7–8% yield:
– For 8% per annum: 1,043 / 0.08 ≈ 13,040 AED/m²;
– For 7% per annum: 1,043 / 0.07 ≈ 14,900 AED/m².

Comparison with actual prices: the current average price in the building (11,907 AED/m²) and in the area (12,949 AED/m²) is within a range that allows an investor, at average area rental levels, to achieve the target yield (7.5–8%). At current transaction levels, the discount to the “fair price” is minimal or non-existent.

5. Liquidity, demand, outlook

– High transaction frequency (dozens in the building, hundreds in the area per quarter) and a large number of rental contracts ensure good liquidity for Empire Residence as part of JVC/Al Barsha South Fourth.
– Growth rates of average sale prices and rental rates remain stable and outpace inflation.
– For an investor, this asset is a liquid alternative within JVC. However, any investment assessment must be supported by evidence of actual rental potential, which is not yet reflected in DLD data for this building.
– In the long term, the area’s price dynamics and increasing rental activity support a stable investment climate over a 3–5 year horizon.

Important disclaimer: all rental rate and ROI estimates are based solely on averaged area-level data. The rental market in a specific building may differ (above or below the area average) depending on condition, maintenance quality, and tenant demand.