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1. Definition of the area and data structure
Actual location: According to DLD, the Azizi Iris building (registered in the database as “Azizi. Iris”) belongs to the Jabal Ali First district and the Al Furjan master project.
Data structure: Over the past 5 years, 82 apartment sale transactions and 209 apartment rental contracts have been registered for the Azizi Iris project. There are no actually registered sales transactions for studios (0BR), therefore further sales data are provided for the entire project without breakdown by unit type. All quantitative statistics on market levels and dynamics are built at the building level and then, for comparison, at the Jabal Ali First district level (official DLD zone).
2. Sales market dynamics
For Azizi Iris there is a clear market revival starting from 2020: the average price per square metre has increased from the 4,000–7,000 AED/m² range to 9,500–10,500 AED/m² over the last 12 months. In the last 12 months, 21 transactions have been registered, with an average deal price of 10,534 AED/m².
For Jabal Ali First, the DLD average for the same 12‑month period stands at 16,463 AED/m² across 9,411 transactions. The district level is significantly ahead of Azizi Iris: the difference is around 56% (the building is cheaper than the district).
Quarterly dynamics show that since 2022 the growth rates for Azizi Iris have been steadily positive, yet the complex is still trading at a noticeable discount to the district, despite the overall market uptrend.
3. Rental market dynamics
The rental picture is different. Over the last 12 months, 31 apartment rental contracts have been concluded in Azizi Iris, with an average annual rental rate of 2,981 AED/m². This level is significantly above the district benchmark: for Jabal Ali First over the same period, the average stands at 877 AED/m² (26,631 contracts). Such a discrepancy (rents in the building more than 3 times higher than in the district) may be related to tenant specifics, contract structure, or errors in the registration of areas and amounts; however, the DLD database confirms these figures.
4. Comparison of sales and rental markets. ROI
For Azizi Iris:
– Average sale price over 12 months: 10,534 AED/m² (average for the entire complex).
– Average rent over 12 months: 2,981 AED/m² (based on signed apartment contracts).
A rough calculation of investment yield (ROI_brutto) — the ratio of rent to price per m²:
ROI_brutto = 2,981 / 10,534 ≈ 28.3%
Adjusting for entry costs (≈7% of the purchase price, i.e. dividing by 1.07), ROI_net ≈ 26.4%.
This figure is far above the market benchmark yield of 7–8% per annum and is either due to errors in the registration of certain contracts or to some unique rental conditions (for example, short‑term rentals, serviced apartments, etc.). In this situation, it is reasonable to recommend individual verification of each rental listing to confirm that it reflects genuine long‑term leasing.
For Jabal Ali First:
– Average sale price over 12 months: 16,463 AED/m²
– Average rent over 12 months: 877 AED/m²
Here ROI_brutto = 877 / 16,463 ≈ 5.33%, and ROI_net ≈ 5.0%. This is already close to Dubai’s “infrastructure” yield horizon (5–6% for the mass market).
“Fair price range”. For an investor targeting a 7–8% annual yield:
– For Azizi Iris, if we take 2,981 AED annual rent as a base, the fair purchase price for a 7–8% ROI would be 37,263–42,586 AED/m², which is several times higher than the current market level (the market is far below the fair point for such an ROI — a clearly anomalous situation).
– For the district, the fair purchase price would be 10,963–12,529 AED/m² (the actual district average of 16,463 AED/m² is 31–50% higher than this range).
5. Liquidity and outlook
Liquidity at Azizi Iris is high: with 21 sales and 31 rentals per year, transactions have been consistently recorded since 2020, with 4–8 deals per quarter. This confirms stable demand both for purchase and for rent. At the district level, turnover is even higher.
Price dynamics: over the past 3–4 years, prices in the building have more than doubled; the 2024 average levels are comparable to the upper third of the district range in 2021–2022. Over a 2–3‑year horizon, the potential for further accelerated growth is limited — the building is already catching up with the market after a period of underperformance. However, given its liquidity, Azizi Iris remains attractive for an investor still looking for a “price discount” relative to the district.
In terms of yield, the DLD‑based profitability figures for Azizi Iris look extremely high and must be analysed on a unit‑by‑unit basis (there is a risk that the data reflect rental formats that are not typical for the long‑term market).
Conclusions:
– Azizi Iris is located in Jabal Ali First (Al Furjan).
– Average deal price in the building (12 months): 10,534 AED/m², average rent: 2,981 AED/m².
– Liquidity is very high, with price growth outpacing the district.
– Yield based on confirmed DLD transactions may be extremely attractive, but requires verification of each contract (abnormally high rents).
– For a conservative approach, it is reasonable to assume a “normal” district yield of 5–6% per annum.
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