ROI analysis of apartment in Al Mass Tower: DLD data and real deals

1. Definition of the area and data structure

Actual location: according to DLD data, the building AL MAS TOWER is part of the Al Thanyah Fifth area and the Jumeirah Lakes Towers master project. However, no actual sale or lease transactions for 2-bedroom apartments (2BR), or for any apartments at all in this building (AL MAS TOWER), have been identified in the DLD records. This situation is typical for a number of towers that may be used predominantly for office or special-purpose needs, or where transactions are recorded outside the standard residential reporting framework.

For the analysis, we use the master-project level (Jumeirah Lakes Towers) and the area level (Al Thanyah Fifth), as only at these aggregated levels is there a sufficient volume of real estate market data.

2. Liquidity and transaction dynamics

Transaction volume.
Across the Jumeirah Lakes Towers master project, over the past 12 months more than 3,000 apartment transactions have been registered, and in Al Thanyah Fifth more than 4,700 transactions – this indicates a very high level of liquidity and an active secondary and primary market.

Price dynamics.
Over the past 5 years, both aggregated cuts (Jumeirah Lakes Towers and Al Thanyah Fifth) have shown a rapid increase in the average price per square metre:
– At the beginning of 2020, the average price per m² was around 8,000–9,000 AED.
– In 2021–2022 there was a gradual increase to 10,000–12,000 AED per m².
– In 2023, prices moved into the 12,000–18,000 AED per m² range.
– Over the last 12 months, the area-wide average has reached almost 20,000 AED/m² (Al Thanyah Fifth – 19,779 AED/m², Jumeirah Lakes Towers – 17,934 AED/m²).
– By 2024, individual quarters exceed 19,000–20,000 AED/m², reflecting elevated demand and a general price increase across all market segments.

3. Rental rate dynamics

The rental market is also highly active:
– Over the past 12 months, more than 7,000 apartment lease contracts have been registered in Jumeirah Lakes Towers, and more than 9,000 in Al Thanyah Fifth.
– The average rental rate is 1,123 AED/m²/year for the master project and 1,090 AED/m²/year for the area.
– In 2020–2021 the average rate was about 600–700 AED/m²/year, rising to 800–900 AED/m²/year by 2022, and by mid‑2024 it exceeds 1,000 AED/m²/year.
– Recent quarters show stable rents above 1,080–1,170 AED/m²/year, confirming the strengthening rental potential of properties.

A breakdown of rental rates by bedroom count for the specific building is impossible due to the absence of transactions, but the aggregated metrics for the area and master project provide a good reflection of the market level.

4. Current price and rental levels, ROI

Market price per m² (last 12 months):
– Jumeirah Lakes Towers: 17,934 AED/m²
– Al Thanyah Fifth: 19,779 AED/m²

Average annual rental rate (last 12 months):
– Jumeirah Lakes Towers: 1,123 AED/m²/year
– Al Thanyah Fifth: 1,090 AED/m²/year

Gross ROI (annual, by area):
– Jumeirah Lakes Towers: 1,123 / 17,934 ≈ 6.3%
– Al Thanyah Fifth: 1,090 / 19,779 ≈ 5.5%

Net ROI (assuming entry costs of about 7%):
– Jumeirah Lakes Towers: 6.3% / 1.07 ≈ 5.9%
– Al Thanyah Fifth: 5.5% / 1.07 ≈ 5.1%

Fair price for an investor (target yield 7–8% per annum):
– By area: the fair price range at this yield level is 13,625–15,570 AED/m² (calculation: 1,090 / 0.08 and 1,090 / 0.07 respectively).
– In other words, to achieve a target 7–8% net rental yield, current market prices are 20–30% above the threshold, and to reach the target yield an investor would need a discount, or to focus on capital appreciation.

5. Comparison of the property with the area and outlook

Since no sale or lease contracts for residential apartments in AL MAS TOWER itself have been registered, it is not possible to provide an individual assessment of yield dynamics specifically for this building. However, given its location in one of the most liquid and large‑scale districts (Al Thanyah Fifth, JLT), the market situation can be considered typical for the segment described above.

Premium/discount to the market:
– Apartment prices in JLT and Al Thanyah Fifth are currently ahead of the level required to secure yields above 7% per annum.
– For yield‑driven (buy‑to‑let) investors, this may imply a need for a 20–30% discount to the current average price.
– For sellers, the advantage lies in liquidity, as demand for apartments in JLT is high and transaction and leasing volumes remain consistently strong.

Summary:
– The area’s liquidity (by transaction and contract volume) is among the highest in Dubai.
– Prices and rental rates have been rising for 3–4 years, but rental growth is lagging behind purchase price growth, which slightly reduces ROI attractiveness at the current stage.
– JLT and Al Thanyah Fifth remain in strong demand, especially among large landlords and long‑term investors, but yields on new deals today are in the 5–6% range, which is more typical of a mature rather than an early market cycle.
– Without residential transactions in AL MAS TOWER, a separate investment assessment for the building itself is not possible; however, at the area level, investment metrics are transparent and sufficient for decision‑making.

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