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1. Definition of the area and data structure
Actual location: According to the DLD database, the building AZIZI RIVIERA 47 belongs to the Al Merkadh area and the Meydan One Community master project. The project is present in the database with a full name match. For rental analytics, precise filters by project name are also used.
2. Liquidity and transaction volume
A total of 249 apartment sale transactions have been recorded in this building, which indicates sufficient liquidity on both the primary and secondary markets.
The volume of active (2024–2025) rental contracts for this building alone is about 195, plus a high rental density across the area as a whole (tens of thousands of contracts). This indicates demand from both buyers and tenants.
3. Purchase price dynamics (price per m²) for the building and the area
AZIZI RIVIERA 47 shows noticeable volatility in price per m² over the past 2 years (average values, excluding extreme deviations):
– 2022 (Q3): around 22,600 AED/m² (based on a single transaction).
– During 2023, values remained in the range of 20,600–21,600 AED/m².
– In 2024, average values ranged from 19,700 to 21,100 AED/m² in Q2; Q3 and Q4 2024 show a temporary decline, but the sample may be incomplete.
– Over the last 12 months, the average transaction price was 21,800 AED/m² (30 transactions).
For the Al Merkadh area (same filter: only apartments with Flat status), the dynamics over the last 4 years are as follows:
– In 2022 – early 2023, the average price range was 16,800–19,200 AED/m².
– In 2023–2024, prices have been gradually increasing: in Q2 2024 the average price in the area was 19,060 AED/m², and in Q3–Q4 it rises towards 21,000 AED/m².
– The 12‑month average (4,289 transactions) is 20,620 AED/m².
Thus, AZIZI RIVIERA 47 consistently trades at a premium to the area: +5–7% versus the average market price for comparable apartments in Al Merkadh.
4. Rental dynamics and rental level (annual rent per m²) for the building and the area
For the building itself:
– Rental transactions have been actively recorded since mid‑2024; each quarter there are between 13 and 41 new contracts.
– The average annual rental rate over the last 12 months for the building is 1,727 AED/m² (95 active contracts with clear unit sizes), which is noticeably above the area’s average market level.
For the Al Merkadh area:
– Rental dynamics over the last 4 years show steady growth.
– In 2022, average rates were in the range of 930–1,120 AED/m², by the end of 2023 they reached around 1,350 AED/m², and in 2024 they are already at 1,340–1,550 AED/m².
– The 12‑month average for the area is 1,534 AED/m² (over 10,600 contracts).
In summary: AZIZI RIVIERA 47 demonstrates premium rental potential: the rental rate per m² in this building is roughly 13% higher than the area average.
5. Assessment of investment yield (ROI) and fair price range
Calculated indicators for the last 12 months:
– Average purchase price for the building (30 transactions): 21,800 AED/m².
– Average rent for the building (95 contracts): 1,727 AED/m² per year.
For the Al Merkadh area:
– Average purchase price (4,289 transactions): 20,620 AED/m².
– Average rent (10,655 contracts): 1,534 AED/m².
Investment yield (Brutto ROI):
– For the building: 7.9% (1,727 / 21,800).
– For the area: 7.4% (1,534 / 20,620).
Taking into account typical entry costs (commissions and fees of about 7–8%), the estimated Net ROI is:
– For the building: from 7.3% to 7.4% per annum.
– For the area: from 6.8% to 6.9% per annum.
Fair investment price range for a target yield of 7–8% per annum:
– For the building: with a rental rate of 1,727 AED/m², the price corresponding to a 7–8% ROI is 21,600–24,700 AED/m².
– For the area: with rent of 1,534 AED/m², it is reasonable to pay 19,200–21,900 AED/m².
Today, the market price for the building is close to the “upper boundary” of the fair range (the building is being sold almost at the maximum price for a target ROI of 7–8%), while the area average is closer to the middle of this range.
6. Outlook and conclusions
– AZIZI RIVIERA 47 is liquid, with high volumes of both sales and rentals.
– The building shows a stable price and rental premium versus Al Merkadh (5–13%).
– Investor yield remains within the target range of 7–8% per annum brutto, which is in line with investment expectations for new quality residential stock.
– Further price growth is limited: to achieve a yield above 8%, an investor would need either a discount to the current purchase price or a higher rental rate.
– The premium versus the area is justified by the new stock and higher rental rate; however, to exit with maximum capitalisation it makes sense to target deals in the upper part of the fair price range.
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