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1. Definition of the area and data structure
Actual location per DLD: the Azizi Riviera 5 building is located in the Al Merkadh area, within the Meydan One Community master project, which is fully confirmed in the DLD database.
According to the DLD database, 78 sale transactions for 1-bedroom apartments (1BR) in this building have been registered, with sales recorded from 2020 to the present. For rentals in the building itself and in the master project, there are no valid 1-bedroom lease contracts (with both unit size and annual amount specified). However, in Al Merkadh as a whole, more than 27,000 residential lease contracts (all types) have been recorded, which allows us to build reliable benchmarks only at the district level.
2. Purchase price dynamics
In Azizi Riviera 5, the following dynamics of the average price per square meter for 1-bedroom apartments have been observed since 2020:
– 2020: from 11,600 to 14,600 AED/m² per quarter, with only a few transactions.
– 2021: stabilization in the 13,000–15,600 AED/m² range, with growing transaction volumes.
– 2022: 11,500–13,000 AED/m².
– 2023: a significant increase in the number of transactions (up to 26–28 per quarter), while the average price ranged between 12,900–15,400 AED/m².
– 2024: over the last 12 months, the average transaction price reached 16,000 AED/m² (i.e. growth has continued).
For comparison, across the entire Al Merkadh area (1BR), the corresponding figure for the last 12 months amounted to 20,300 AED/m². Historically, the growth rates in the area have been significantly higher; for example, from 2020 to 2023 prices increased from ~15,300 to 21,200 AED/m².
Thus, Azizi Riviera 5 is clearly selling at a discount to the district average (a difference of around 21–22%).
3. Rental rate dynamics
For Azizi Riviera 5 and for the master project, no valid rental contracts have been identified, so we provide the average rent per m² only for the Al Merkadh area:
– Since 2020, the average rental rate in the area has increased from 640 to 1,550 AED/m² over the last 12 months.
– Active rental growth has been observed since after 2022.
– The number of contracts per quarter in the area has ranged from 1,000 to 3,000 in recent years, confirming high liquidity.
4. Comparison with the area, ROI, investor conclusions
The current average price level in the building (16,000 AED/m²) is 21–22% below the average market level in Al Merkadh for 1-bedroom apartments. For rental rates, we have to rely only on the district benchmark — 1,550 AED/m² per year (over the last 12 months).
Gross yield (ROI_brutto) calculation for the area:
– District brutto ROI: 1,550 / 20,300 ≈ 7.6% per annum.
– If we apply the district rental rate to the current price level in the building, the ROI will be: 1,550 / 16,000 ≈ 9.7% per annum.
After adjusting for standard entry costs (7–8%), the net ROI for the area will be around 7% (1,550 / 21,600 ≈ 7.2%). For Azizi Riviera 5, the net ROI is approximately 9% (1,550 / 17,200 ≈ 9.0%).
Fair price range for an investor targeting a 7–8% annual yield (based on the district rental rate):
– Lower bound (for 8%): 1,550 / 0.08 ≈ 19,375 AED/m².
– Upper bound (for 7%): 1,550 / 0.07 ≈ 22,140 AED/m².
Therefore, the current market price in the building is already noticeably below the fair investment range, meaning that at current prices an apartment delivers a yield above the target (but a separate check of rental benchmarks at the address level is required to confirm actual occupancy).
5. Liquidity and prospects
Azizi Riviera 5 has shown a stable number of transactions since 2023; there are no signs of a lack of demand either in 2020–2021 or after 2022. Overall, Al Merkadh is characterized by very high sales and rental volumes, positive price and rental dynamics, and strong liquidity.
Conclusions: Azizi Riviera 5 is one of the most affordable buildings in Al Merkadh in terms of price, with a substantial gross yield buffer versus the market level. The building demonstrates steady transaction activity, while the area as a whole shows strong demand and sustained interest. Over a 3–5 year horizon, the growth potential is that either the price per m² will catch up with the district level, or the building’s rental rates will exceed the district average, securing an above-market yield.
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