1. Definition of the area and data structure
Actual location: According to DLD, the building 23 MARINA is located in the Marsa Dubai area and is part of the Dubai Marina master project. These identifiers are used for calculating area and master-project benchmarks.
Volume of available data:
– Sales of apartments (Residential / Flat) in 23 MARINA: the DLD database records more than 300 transactions from the beginning of 2020 to the present. This is a highly representative sample for analysing price dynamics.
– Rentals: for the same building, there are over 700 valid contracts for the last 5 years, which allows for a detailed analysis of rental rates and their changes.
– For comparison, there is also a large number of transactions and contracts for the Marsa Dubai (Dubai Marina) area.
2. Liquidity and market activity
Apartment sales dynamics:
Transactions in the building occur on a regular basis. Quarterly activity over the last 2 years ranges from 11 to 32 deals per quarter, with no periods of stagnation even in turbulent years. This confirms the high liquidity of the asset — sales in the building are consistently taking place, with a steady inflow of new owners.
Rental comparison:
In the rental market for 23 MARINA, between 20 and 40 contracts are signed every quarter. Over the last 12 months there have been more than 100 agreements, indicating stable demand for both short-term and long-term rentals in the building.
Summary: Both the wider market and this specific building show high liquidity for both sales and rentals.
3. Purchase price dynamics (AED/m²) over 3–5 years
23 MARINA:
– Since 2020 the average price per square metre has been growing step by step: from ~8,200–8,500 AED/m² (2020) to 10,000–11,000 AED/m² by 2022, and then to 12,000–14,000 AED/m² by mid-2024.
– Over the last 12 months the average transaction level has been around 14,631 AED/m².
– Peak values have approached 15,600–16,000 AED/m² in recent quarters of 2025 (DLD already contains some future-dated transactions).
Area benchmark (Marsa Dubai):
– Growth is even more pronounced: from 13,000–16,000 AED/m² in 2020, the area has reached 24,000–29,000 AED/m² by 2023–2025.
– The area average for the last 12 months is significantly higher — around 26,936 AED/m².
Comment: 23 MARINA is almost twice as cheap per square metre as the average market price level in Marsa Dubai and Dubai Marina.
4. Rental market dynamics (AED/m²/year) over 3–5 years
23 MARINA:
– Growth has been gradual, from ~550–650 AED/m²/year (2020–2021) to 960 AED/m²/year according to the latest data.
– Over the last 12 months the average annual rental rate across all apartments is 960 AED/m².
Marsa Dubai:
– Over the same period, the area shows substantially higher rates: the current level is about 1,300 AED/m²/year, almost double the 2020 level.
Comment: 23 MARINA offers a lower rental rate compared to the Dubai Marina area average.
5. Comparative assessment — building versus area
– Purchase price in 23 MARINA: 14,631 AED/m² (last 12 months);
– Area level: 26,936 AED/m²;
– Rental rate in the building: 960 AED/m²/year;
– Area rental rate: 1,317 AED/m²/year.
The building sells and rents significantly below the area average: price per square metre is 45% lower than the area average, and rents are 27% below the Dubai Marina level.
6. Investment metric/yield and fair price
– Gross yield (ROI_brutto) for the building: 960 / 14,631 ≈ 6.6% per annum;
– Area gross yield: 1,317 / 26,936 ≈ 4.9% per annum.
Factoring in transaction costs (7% on top of the purchase price) reduces net yield to 6.2% for the building and 4.6% for the area.
Fair price range “for a 7–8% yield”:
– For 23 MARINA, at current rental levels, the fair price range is 12,000–13,700 AED/m².
– The actual level in the building is close to this range; the reduction required to secure a stable 8% is only 6–12% from the current price.
– For the area, the fair price range for an investor is 16,500–18,800 AED/m², which is far below the current Dubai Marina average.
Comment: For an investor, 23 MARINA outperforms the average projects in the area in terms of net yield, provided the focus is on the “mass segment” with moderate rental rates and a long-term strategy. To reach the “area-level” rental rates or liquidity, one should factor in discounts or plan for upgrades or repositioning of the asset.
7. Outlook and conclusions
– 23 MARINA demonstrates stable sales and rental liquidity, as well as steady growth in prices and demand.
– Purchase prices are significantly lower than in new and prime projects in Dubai Marina.
– Yield (ROI) based on DLD data for the building is consistently higher than the area average.
– An important point: the lower price relative to the area is explained by ageing of the asset and/or the specific tenant/owner profile. However, for investors focused on long-term leases and minimal vacancy, the offer is highly competitive.
– For those targeting only high rental levels or quick resales with a premium to the market, additional work on upgrading the apartment standards will be required.
– For long-term holders, 23 MARINA offers an attractive balance of price, risk and expected return, with high liquidity.
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