1. Definition of the area and data structure
Actual location: According to DLD data, Azizi Riviera 24 belongs to the Al Merkadh area and is part of the Meydan One Community master project. The DLD database records 297 sale transactions and 169 valid rental contracts for this building over recent years, which indicates active market turnover at the building level. The building name is used exactly as in the DLD database. Quarterly/annual depth data for 2-bedroom apartments (2BR) turned out to be insufficient (queries returned empty), so the analysis of price and rental dynamics is primarily aggregated at the level of the entire building and the Al Merkadh area for comparison.
2. Purchase price dynamics and levels
The dynamics of average prices per square metre in Azizi Riviera 24 show steady growth: from around 14,000–15,000 AED/m² in 2020–2022 to approximately 17,000–23,000 AED/m² in 2023–2024, with individual peaks above 25,000 AED/m². Over the last 12 months, the average purchase price in the building was 20,982 AED/m², while in Al Merkadh it was 20,490 AED/m². This indicates that the building trades at a small premium (~2%) to the wider area. It is important to note that the transactions include both typical and outlier values (above 30,000 AED/m² on certain units), but the bulk of sales over the past three years falls within the 15,000–25,000 AED/m² range.
3. Rental market and yield levels
Average annual rental rate over the last 12 months:
– For Azizi Riviera 24: 1,544 AED/m²/year
– For Al Merkadh: 1,525 AED/m²/year
Current yield level (ROI):
– For Azizi Riviera 24: ROI_brutto = 1,544 / 20,982 ≈ 7.4% per annum
– For Al Merkadh: ROI_brutto = 1,525 / 20,490 ≈ 7.4% per annum
Taking into account standard transaction costs (around 7–8% of the purchase price), the estimated net yield for an investor (ROI_net) will be about 6.9–7.0% per annum. The range of investment-justified prices for a target yield of 7–8% for the building is 19,300–22,060 AED/m² (calculation: 1,544 / 0.08 and 1,544 / 0.07 respectively). The current market level of the building is close to this range: there is no significant premium or discount to the area, and Azizi Riviera 24 is generally moving in line with the market.
4. Rental dynamics and structure
Quarterly rental dynamics show a rapid recovery and growth: from about 1,200–1,300 AED/m² per year at the start to current levels of 1,490–1,540 AED/m². In Al Merkadh, the trend is similar: over three years, rates have almost doubled, from 600–800 AED/m² to 1,300–1,600 AED/m² at present.
5. Comparative analysis and liquidity
Azizi Riviera 24 demonstrates solid liquidity at the building level: almost 300 sale transactions and around 170 rental contracts have been recorded, which is a good volume by current standards. The property is located in the large, developing Meydan cluster, which has a positive impact on demand. The building fits within the average values for the area and does not stand out with either a significant premium or a discount – typical for contemporary mass-market projects with stable market interest.
6. Investor outlook and conclusions
Azizi Riviera 24 and the Al Merkadh area look attractive for investors focused on long-term income and capital growth. Over 3–5 years, prices for the most typical apartments have increased by roughly 30–40%, while rental yields today remain in the 7–7.5% gross per annum range, with the possibility of maintaining ROI_net around 7% if entry costs are optimised. Entering at current market prices appears reasonable for an investor: the market does not imply an underpriced discount, while additional upside remains due to the development of Meydan and overall demand for affordable modern apartments. High market liquidity is confirmed by the statistics on sale transactions and rental contracts.
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