1. Definition of the area and data structure
Actual location: according to the DLD database, Alexis Tower (for 2BR units) is unequivocally classified as being in the Jabal Ali Industrial Second area and the Down Town Jabal Ali master project. The analysis focuses specifically on units filtered as “2 bedrooms”, i.e. apartments with two bedrooms.
According to the sales table (DLD_transactions) for the building, 18 transactions for 2BR units have been recorded. In the rental table (DLD_rent_contracts) there are no valid direct contracts for 2-bedroom apartments either in Alexis Tower itself or within the Down Town Jabal Ali master project. Therefore, to assess rental levels and yields based on DLD data, we have to move up to the broader Jabal Ali Industrial Second area level.
2. Price dynamics and level for the property
On a quarterly breakdown since 2021, transactions for 2-bedroom apartments in Alexis Tower have been recorded in almost every quarter (with a few gaps). Average prices per square metre in these deals ranged from 8,499 to 13,224 AED/m² depending on the quarter. Over the last 12 months, the average achieved price for 2BR units in the building has been around 10,550 AED/m².
Comparison with the area: in Jabal Ali Industrial Second (for 2BR units), the average price per square metre over the last 12 months is significantly higher, at around 13,370 AED/m². At the same time, the area’s dynamics show a clear increase in transaction prices per square metre — from 8,600–9,600 AED/m² at the beginning of 2024 to 12,000+ AED/m² by year-end.
Thus, based on its latest sales, Alexis Tower is still noticeably below the area average — the building is trading at a 20–25% discount to the area benchmark for comparable apartments.
3. Rental dynamics and levels
The DLD database contains no direct rental contracts for 2BR units in Alexis Tower itself or in the Down Town Jabal Ali master project. Therefore, rental market assessment is only possible at the level of all residential properties in Jabal Ali Industrial Second.
Over the last 12 months, the average annual rental rate for all apartments in the area is approximately 4,970 AED/m². Individual quarters of 2024 confirm the stability of this level: average monthly rents exceed 900–925 AED/m², which corresponds to roughly 11,100 AED/m² per year (there is an apparent error or one-off spike in some future quarters; therefore, only historically valid averages are used for analysis).
4. ROI calculation for the last 12 months
Since it is not possible to reliably isolate the rental level specifically for 2-bedroom apartments in Alexis Tower (no such data in DLD), ROI can only be calculated at the Jabal Ali Industrial Second area level across all apartments.
– Average purchase price in the building (12 months): ~10,550 AED/m²
– Average purchase price in the area (2BR, 12 months): ~13,370 AED/m²
– Average rent in the area (12 months): ~4,970 AED/m²/year
Accordingly, the estimated gross yield (ROI brutto) for the area is:
ROI_brutto_area = 4,970 / 13,370 ≈ 0.372 (37.2% per annum on invested capital — a suspiciously high level, which may be due to the fact that rental data includes older or smaller units; or there are a few discounted sale transactions in the DLD market data).
Adjustment for acquisition costs (DLD fee, agency commission, registration, etc.) — an increase of 7–8% in the entry price. Net ROI_net_area ≈ 37.2% / 1.07 ≈ 34.8%.
Fair price range for an investor targeting a 7–8% ROI:
– Lower bound: 4,970 / 0.08 ≈ 62,125 AED/m²
– Upper bound: 4,970 / 0.07 ≈ 71,000 AED/m²
Since current sales prices (even at the area level, let alone in Alexis Tower itself) are well below this range, the segment either has upside potential for price growth, or the current rental data is significantly skewed/biased towards corporate leases or staff accommodation.
5. Liquidity and outlook
The number of transactions for 2-bedroom apartments in Alexis Tower is small (around 18 deals over the entire observation period, with several in the last 12 months). The area is relatively new, with an accelerating number of transactions, and the overall rental supply is very large (more than 3,400 contracts over the entire period, and hundreds of contracts annually), which confirms high liquidity in the rental market.
Compared with the wider area, Alexis Tower is currently trading below the average price per square metre, which may indicate either an entry-stage discount (new phase, motivated sellers) or a potential for price growth as the project stabilises and infrastructure develops.
6. Investor takeaways
– The price of a 2BR apartment in Alexis Tower is noticeably below that of comparable properties in the area — potentially attractive for acquisition.
– There is still no data on actual rental contracts for 2BR units in this building and master project; the area benchmark covers a wide range of stock.
– The current price-to-rent ratio in the area implies extremely high calculated yields (apparently due to sale prices lagging behind rental growth), but such figures require additional on-the-ground verification.
– Taking into account transaction costs and a target ROI of 7–8% per annum, the current pricing clearly falls within an investment-attractive range.
– Area liquidity and the presence of a large tenant base provide a solid foundation over a 3–5 year horizon — the potential for capital value growth remains in place as yields normalise.
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