1. Definition of the area and data structure
Actual location: According to the DLD database, the Azizi Mirage 1 building is located in the Al Hebiah Second area, within the Dubai Studio City master project.
Based on the query for 2-bedroom apartments (2 b/r) in Azizi Mirage 1, 16 sale transactions were recorded. This makes it possible to analyse statistics both for the building itself and to compare it with Al Hebiah Second in the 2-bedroom segment.
In terms of rentals, over the past 12 months there are no valid lease contracts that meet DLD filters (residential, 2-bedroom, area over 10 m², annual payment above AED 1,000) either for the building, or for the master project, or for the wider area. Accordingly, it is not possible to analyse rental yield or determine a fair price for an investor based on DLD data.
2. Frequency and dynamics of transactions in the building
Sales in Azizi Mirage 1 started relatively recently: all transactions for 2-bedroom apartments fall within 2023–2026. Activity is increasing: as the project is handed over, the number of transactions is growing.
Dynamics of the average price per square metre (by quarter, 2-bedroom data):
- End of 2023: transactions were recorded in the range of 15,145–12,850 AED/m².
- 2024: the range fluctuates from 13,200 to 14,600 AED/m².
- Over the last 12 months, the average price per square metre in the building is about 14,036 AED/m² (for 2-bedroom apartments).
This demonstrates existing demand and a certain price stability within the new project (no sharp jumps over the last 12 months).
3. Market dynamics and levels in Al Hebiah Second
In Al Hebiah Second, where the building is located, there have been significantly more transactions for 2-bedroom apartments, which allows us to form a robust benchmark for the area.
Area dynamics over the last 3 years:
- In 2020–2022, the average price per square metre ranged from 5,700 to 9,900 AED/m², reflecting a noticeable shift from budget to more expensive stock.
- Since 2023, the trend has been upward — in recent months (year), quarterly averages have been 11,000–13,400 AED/m², which is lower than in Azizi Mirage 1.
- The average price per square metre over the last 12 months in the area for 2-bedroom apartments is 12,740 AED/m², i.e. roughly 9% cheaper than in the building under review.
Thus, Azizi Mirage 1 currently trades at a price premium to the area’s average level for comparable 2-bedroom apartments.
4. Rental analytics
According to DLD, over the last 12 months there have been no valid lease contracts (with all restrictions applied: unit type, area, annual payment) for 2-bedroom apartments in Azizi Mirage 1, the Dubai Studio City master project, or the Al Hebiah Second area.
This may be due both to the project profile (new building, low share of tenants) and to possible delays in publishing new lease contracts for recently completed projects in the DLD/Ejari system. It should be taken into account that this analysis relies exclusively on official DLD data and does not incorporate marketing or expert estimates.
5. ROI and fair price range
Due to the absence of confirmed rental rates in the Dubai Land Department register:
- It is not possible to accurately calculate potential yield (ROI) and a fair purchase/sale price range specifically for 2-bedroom apartments in Azizi Mirage 1.
- It is not possible to determine a range of “fair investment prices” based on a target yield of 7–8% per annum — any such estimates without DLD-backed rental rates would be speculative.
- ROI analysis and level comparison with the area/building are impossible without verified rental data.
6. Conclusions on liquidity, outlook and pricing
- From a sales perspective, Azizi Mirage 1 shows good liquidity for a new project: transactions are taking place regularly, and the average price per square metre in the building is somewhat higher than the area average, which is reasonable for new Dubai Studio City developments with quality architecture and finishes.
- The price per square metre in the building is about 9% higher than the area average in the 2-bedroom segment. This is typical for new buildings in mixed-use locations (many existing properties in the area are cheaper due to age and class).
- Demand in the sales segment appears stable: the increase in transaction frequency as the building is handed over is positive for liquidity and the price trend.
- Based on DLD data, it is not possible to assess the current rental market level or the yield from letting apartments in Azizi Mirage 1. Yield-focused investors should either request additional market monitoring (using indirect sources) or wait for valid rental data to appear.
- Outlook — price growth in the project may continue in the future if demand remains stable, although the existing price premium to the area will cap further upside.
7. Summary
Azizi Mirage 1 is a liquid new building in the rapidly developing Dubai Studio City (Al Hebiah Second) area, with the current average price per m² for 2-bedroom apartments slightly above the area average. Transactions are taking place regularly and the building is in demand. It is not possible to assess rental yield or calculate a fair price based on DLD lease contracts due to the absence of relevant data in the public database. For rental and yield decisions, ongoing monitoring of new data or the use of alternative information sources is required.
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