1. Definition of the area and data structure
Actual location:
– Building: ALEF NOON RESIDENCE (filter set to exact name match)
– Area according to DLD: Al Barsha South Fourth
– Master project: Jumeirah Village Circle
DLD records show 84 sales for this building, of which 62 are 1BR apartment transactions. The analysis uses only transactions and leases for residential apartments (“Residential”, “Flat”, “1 b/r”).
2. Liquidity and demand
Over the past two years there has been steady sales activity for 1BR units in ALEF NOON RESIDENCE: 16 transactions in the 2024 calendar year (counted up to the current date), and 9 in 2023. This is a moderately liquid building within the new residential cluster of JVC in the Al Barsha South Fourth area.
Rental analysis shows that the DLD database has no registered lease contracts specifically for this building and 1BR type, nor is there rental data for the JVC master project. All subsequent rental analytics are therefore based on the pool of contracts for Al Barsha South Fourth as a whole.
3. Price per m² dynamics (1BR sales) — building vs area
For ALEF NOON RESIDENCE, quarterly figures fluctuate in the approximate range of 11,850–14,000 AED/m² with some spikes. Over the last 12 months, the average 1BR sale price has been 11,600 AED/m² (based on 36 transactions). Current quarterly dynamics (2023Q4–2024Q4) are fairly stable, while overall the building is priced 15–20% below the average price per m² for the area.
In Al Barsha South Fourth, the average 1BR price over the last 12 months is 14,420 AED/m² (database of more than 9,000 transactions). This is a classic indication that the subject building is in a more budget-friendly segment — including as a potentially attractive entry point from an investment perspective.
4. Rental dynamics and levels
There is no 1BR rental data for the building or the master project. In Al Barsha South Fourth, the annual volume of rental contracts is very high (the vast majority being apartments of various formats). The average rental rate for all residential apartments over the last 12 months is 1,050 AED/m²/year.
Quarterly rental dynamics show a marked acceleration from 2023: from 670–800 AED/m²/year up to 950–1,150 AED/m²/year at present. Rental growth is outpacing price growth, which is positive for an investor.
Separately, it should be noted: in the absence of rental data for the building itself, the investment analysis relies exclusively on the area-wide rental rate.
5. Comparison of building and area levels
– Average 1BR apartment price in ALEF NOON RESIDENCE over the last 12 months: 11,600 AED/m²
– Average 1BR price in the area: 14,418 AED/m²
– Average rent in the area: 1,050 AED/m²/year
The entry price in this building is noticeably below the area average (~20% discount), which may indicate potential for a one-off gain as capital values rise.
6. Yield and fair price range
Gross ROI for the area (using the formula average rent / average price):
– Roughly: 1,050 / 14,418 = 7.3%
If the building achieved the same rental rate, its potential ROI would be higher: 1,050 / 11,600 = 9.1%. However, actual rental levels in this specific building are unknown — estimating them requires using the area as a benchmark. There is no reason to assume that units here would rent significantly above the area average.
Taking into account expected acquisition costs (DLD, agency fee, registration; ~7–8% of the price), a fair net yield can be estimated at about 6.8–7.2% per annum for the area, and about 8.4–8.5% theoretically for a purchase in this building (if it can be rented at the area’s average rate).
Fair price range for an investor targeting 7–8% ROI:
– For the area: at 1,050 AED/m²/year rent, the “investment price” range is 13,125–15,000 AED/m² (the current market average lies within this band).
– For the building: at a purchase price of 11,600 AED/m², the yield is above the target range; the building looks attractive in terms of potential returns, provided rents are in line with the area.
7. Investor takeaway
– The asset is highly liquid in terms of sales, with an entry price significantly below the area average.
– At current market rental levels, yields exceed the target 7–8% per annum.
– A key risk is the lack of confirmed rental data for this specific building.
– If area-level rental rates can be achieved, ALEF NOON RESIDENCE 1BR units appear attractive for an investor both due to the market discount and the expected ROI (above the area average).
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