1. Definition of the area and data structure
Actual location: according to the DLD database, the building Azizi Riviera 23 is located in the Al Merkadh area, within the Meydan One Community master project.
For Azizi Riviera 23, 263 transactions involving studio apartments have been identified, which allows us to analyze both at the building level and in comparison with the Al Merkadh area to track trends and benchmarks.
2. Transaction dynamics, liquidity of the building and the area
The number of studio transactions in Azizi Riviera 23 is unevenly distributed by year. The bulk of registrations falls in 2024 (especially Q1 and Q2), reflecting the building’s market launch and transfer of ownership. This pattern is typical for new projects and indicates good liquidity: demand is confirmed by a large volume of deals at the handover and commissioning stage.
Across Al Merkadh as a whole, the dynamics of studio transactions are stable: a significant volume of sales has been recorded in every quarter over the past 4–5 years. This confirms sustained interest both in the area and in the specific building Azizi Riviera 23.
3. Price per square metre dynamics: building vs area
Over the past five years, the average sale price per square metre of studios in Azizi Riviera 23 has fluctuated quite widely:
– In 2020–2021 the average range was around 16,300–17,700 AED/m².
– In 2022–2023 the average values were 16,000–19,000 AED/m², with some quarters above 20,000 AED/m², which is related to deals being registered at different times.
– In 2024 the average price per m² in Q1–Q2 was about 15,500–17,500 AED/m² (studio data), with a slight downward trend in recent quarters.
In Al Merkadh, the average price per m² for studios over the last 12 months is 20,731 AED/m², which is higher than the figure for Azizi Riviera 23 over the same period (17,567 AED/m²). Thus, at the time of launch the building was priced 15–16% below the area average, which is typical for new properties (handover stage, broad investor base).
4. Market rent and yield indicators
For Azizi Riviera 23, 117 rental contracts for studios with active agreements have been recorded. The average rental rate per square metre over the last 12 months for the building is 1,580 AED/m²/year. In Al Merkadh, the comparable figure is 1,655 AED/m²/year.
Over the past two years, studio yields have steadily increased from 1,300–1,400 to 1,600+ AED/m²/year and above. This indicates strong tenant interest in the property.
5. ROI: calculation based on confirmed DLD data
• For Azizi Riviera 23 (studios), the average purchase price over the year is 17,567 AED/m², with rent at 1,580 AED/m²/year. The gross yield (ROI) before expenses is about 9%.
• For Al Merkadh (studios), the average purchase price over the year is 20,731 AED/m², with rent at 1,655 AED/m²/year. The yield is about 8%.
Adjusting for transactional costs (≈7–8%) reduces the net yield (ROI_net) to 8.3% for the building and ~7.4% for the area.
6. “Fair investment price” at a target yield of 7–8% per annum
Based on market rents:
– For the building, the fair range (at 7–8% per annum) is 19,750–22,570 AED/m².
– For the area (studios): 20,700–23,650 AED/m².
The current sales level in the building (17,567 AED/m²) is below these ranges, which implies either a small premium for a potential seller or a higher return for an investor at current prices. By comparison, the area as a whole is trading closer to this fair range.
7. Conclusions on investment prospects
Azizi Riviera 23 demonstrates an excellent level of liquidity, strong transaction activity and high rental demand immediately after handover. The building is priced below the area average, which provides an elevated initial yield (9%) and a “safety cushion” in case of a minor price correction. Al Merkadh is popular with both tenants and investors, and the price and rental dynamics over the last 3–4 years have been positive. There is potential for capital appreciation towards average market levels in the future, while the current entry price allows investors to achieve yields above the area average.
In summary: the building is attractive for an investor; at current prices one can expect a net yield of about 8–8.3%, which is noticeably above the “fair” range for studios in this area. If the market price significantly exceeds 20,000–22,000 AED/m², the potential yield will move closer to the area’s average levels.
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