ROI analysis of apartment in Azizi Riviera 44: DLD data and real deals

1. Definition of the area and data structure

Actual location: Azizi Riviera 44 is located in the Al Merkadh area and is part of the Meydan One Community master project. This information is confirmed by the DLD database; all sales for this building are classified under this area and master project.

The DLD sales database shows 332 transactions for Azizi Riviera 44. For rentals with a direct reference to this building or even to the master project and 1-bedroom units, there is no data.

2. Liquidity and deal dynamics

From 2022 to 2024, transactions for 1-bedroom apartments in Azizi Riviera 44 were distributed by quarter as follows:
– The peak growth in sales volume occurred in Q4 2022 (44 transactions), after which the deal flow declined: in subsequent quarters only 1–9 transactions were recorded.
– Over the last 12 months, there have been 22 transactions for 1-bedroom apartments.

This indicates strong primary demand at the commissioning stage (bulk sales), followed by a stable flow of individual resales.

3. Price dynamics and levels (sales)

Average price per square metre (AED/m²) for 1-bedroom apartments in Azizi Riviera 44 by quarter:
– Summer quarters of 2022: 17,500–17,600 AED/m²,
– Q4 2022: increase to 19,150 AED/m²,
– 2023 quarters: approximately 16,700–18,000 AED/m²,
– 2024 quarters: 17,500–19,700 AED/m², with a 12‑month trailing average of 18,200 AED/m².

For comparison, across Al Merkadh (Meydan One Community master project), the average price for 1-bedroom apartments over the last 12 months was 20,100 AED/m². Over the past 2–3 years, the area has shown an upward trend from 15,500 AED/m² (2022) to above 20,000 AED/m² in 2024.

Thus, the price level for Azizi Riviera 44 is roughly 10% below the area average, which may reflect competition among new buildings, a less premium micro-location of this building, or specific quality features of this particular phase.

4. Rental market and yield

The DLD database does not contain confirmed rental contracts for 1-bedroom apartments specifically in Azizi Riviera 44, or even within the master project with breakdown by unit type. This is typical for new buildings that are only starting to enter the secondary rental market.

However, across the entire Meydan One Community master project (all apartment types), more than 12,000 rental contracts have been concluded over the last 12 months. The average annual rental rate per square metre in this segment is 1,616 AED/m²/year (master-project level data, calculated only for residential with outliers filtered out).

At the level of the entire area/project, rental rate dynamics by year are: from 1,140–1,180 AED/m² (2023) to 1,610 AED/m² (2024). The last 12 months show steady growth, and rents are gradually increasing quarter by quarter — the rental liquidity factor in the project is strong.

5. ROI (gross and net), “fair price range”

— Gross yield (ROI) for the master project based on the last 12 months (rent/sale): 1,616 / 20,100 ≈ 8.0% per annum.
— If we use the price level of the specific building (Azizi Riviera 44, 18,200 AED/m²), the theoretical ROI rises to 8.9% per annum, but this calculation assumes that actual rental performance in this building will match the wider area (which requires separate confirmation by real rental deals in this building).

Adjusting for transactional costs (DLD, brokerage, fit-out, vacancy discount) reduces ROI by roughly 7–8%, resulting in the following net ROI:
– area-level benchmark: around 7.4% per annum,
– building-level: about 8.4% (if rental rates match the area).

Fair price range for an investor targeting a 7–8% annual yield:
– For the area: fair price per m² — 20,200 to 23,100 AED/m². The current price in Azizi Riviera 44 (18,200 AED/m²) is already below this range, which makes the building potentially attractive for buy-to-let investment at today’s average yield levels.

6. Overall outlook

Azizi Riviera 44 is a new building within the mass-market Meydan One Community project, which recorded a significant volume of transactions at handover and is now moving into a stable resale phase. From an investor’s perspective, the building is priced slightly below the average for the area/project (by ~10%), providing a margin of safety on entry. Average net yield across the area is in the 7.4–8% per annum range at current rent and sale prices, which is above the Dubai average for modern projects.

The rental market within the master project is active, with rental rates showing consistent growth throughout 2023–2024. The main risk is the absence of actual rental contracts for this specific building, which is typical for new stock: investors should be prepared for temporarily lower liquidity and a longer ramp-up period to full income. Over a 3–5 year horizon, Meydan One is a promising location for tenants, given the scale of infrastructure development and overall demand in the area.

The opportunity to invest below the area’s average price level creates potential for additional capital appreciation as pricing converges with the wider market once the building is fully absorbed by tenants.