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1. Definition of the area and data structure
Actual location: According to the DLD database, Azizi Riviera 21 is located in the Al Merkadh area, within the Meydan One Community master project. All further comparisons by area will therefore be made against Al Merkadh.
The database contains a sufficient volume of information on apartment sales (37 transactions with 2-bedroom units) and a valid number of rental contracts in this building (167 contracts for all apartment types, with more than a dozen over the last 12 months).
2. Sales: dynamics and current price levels
Over the past 12 months, the average transaction price for a 2-bedroom apartment in Azizi Riviera 21 was AED 16,650 per m². In comparison, the average price for similar apartments in Al Merkadh over the same period was AED 20,565 per m², which means this building is trading at roughly 19% below the district’s average market level.
The average price dynamics for the building over the past few years have been uneven, fluctuating between AED 11,600 and 17,100 per m² in different quarters of the last two years. By contrast, in Al Merkadh this indicator has remained relatively more stable, staying in the range of AED 18,000–21,000 per m² over the past 2 years.
The volume of apartment transactions in Azizi Riviera 21 shows steady activity, indicating sufficient liquidity — more than 30 primary and secondary sales over the last 3 years.
3. Rentals: rate levels and dynamics
According to DLD data for the last 12 months, the average annual rental rate per m² in Azizi Riviera 21 was AED 1,619, which is slightly above the Al Merkadh average (AED 1,540 per m²). Quarterly dynamics range from AED 1,278 to 1,842 per m², reflecting healthy demand and a gradual increase in rental levels in 2024–2025.
Overall in Al Merkadh, the growth in average rents since 2022 has been significant — from the 850–1,200 range to 1,400–1,600 AED per m² by mid‑2024–2025.
The number of rental transactions in Azizi Riviera 21 is sufficient for the rental market to allow a reliable assessment of yield.
4. Comparison with the district and yield calculation
Azizi Riviera 21 (2-bedroom apartments) clearly outperforms the district in terms of rent-to-price ratio: the building is priced about 19% below the average apartment cost in the area, while renting out slightly above the district average on a per‑m² basis. This translates into the following yield metrics:
– Annual “gross” yield (ROI_brutto) based on actual DLD rates over the last 12 months for Azizi Riviera 21:
1,619 / 16,650 ≈ 9.7% gross.
– For Al Merkadh, ROI_brutto: 1,540 / 20,565 ≈ 7.5% gross.
After adjusting for typical upfront purchase costs (7–8% of the price: taxes, agency commission, registration, etc.), the net yield (ROI_net) for this building is estimated at around 9%, and around 7% for the district as a whole.
5. “Investment fair price range” for a new purchase
With a target yield of 7–8% per annum, the “investment fair” price range for this building, based on the average rental rate of AED 1,619 per m², is as follows:
– For an 8% yield: 1,619 / 0.08 ≈ AED 20,240 per m².
– For a 7% yield: 1,619 / 0.07 ≈ AED 23,130 per m².
The current actual DLD price (AED 16,650 per m²) is below this investment-attractive range, which makes the asset potentially interesting for an investor — for the coming year, a market ROI of 9.7% looks competitive (with a typical payback horizon of 10–11 years).
6. Liquidity
In terms of transaction volume and the number of lease agreements, the building demonstrates good liquidity. In addition to a fairly active sales dynamic (10–15 transactions for 2-bedroom apartments per year), there is a stable number of rental contracts, confirming natural rental demand in this housing segment.
7. Outlook and risks
Azizi Riviera 21 is an example of an asset with an attractive price relative to the district and a relatively high yield. This situation may be driven either by relatively modest expectations of owners or by specific features of the building itself (finishing, services, infrastructure). Given the growth potential of Al Merkadh, this asset looks competitive for investors focused on income-generating properties.
The current price level in the district continues to rise, and the stabilisation of rental rates above AED 1,500 per m² makes even the “conservative” district-level yield acceptable. The building’s significantly higher yield compared with the district average may narrow in the future if prices in the building start catching up.
The key risks for an investor are a potential reduction in the spread between the building’s price and the district average, as well as a general slowdown or reversal in rental growth.
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