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1. District definition and data structure
Actual location: Binghatti Gardenia is situated in Al Barsha South Fourth, within the master project Jumeirah Village Circle (JVC). All further comparisons of prices and rents will be based on data for this specific district and master project, as required by DLD transactions.
The DLD database records 416 transactions for Binghatti Gardenia, including 69 deals for studios (0BR). There is also a solid rental track record: over recent periods there have been at least 34 valid studio contracts, which allows for clear conclusions on both sales and leasing.
2. Market dynamics: sales, liquidity, price ranges
Transaction frequency has moved in waves, with peaks at the end of 2023 and in the first two quarters of 2024. For studios (0BR) in the building, the typical price per square metre by quarter over the past year was:
– Q4 2023: ~19,900 AED/m²
– Q1 2024: ~20,100 AED/m²
– Q2 2024: ~18,700 AED/m²
– Q3 2024: ~19,700 AED/m²
– For comparison, in Al Barsha South Fourth (studios):
– Q4 2023: ~15,400 AED/m²
– Q1–Q2 2024: ~15,300 AED/m²
– Q3 2024: ~15,900 AED/m²
Average price per m² in the building over the last 12 months: 21,005 AED/m².
The comparable figure for studios in the district: 17,326 AED/m².
Thus, the building trades at a 20–25% premium to the average market level for studios in Al Barsha South Fourth (JVC). Liquidity can be assessed as excellent: a high number of transactions even at later stages.
3. Rental dynamics, ranges and rates
For studio rental contracts over recent quarters (only residential units over 10 m² with an annual rate above 1,000 AED are included):
– In Binghatti Gardenia:
– Q2 2024: ~1,560 AED/m²/year
– Q3 2024: ~1,640 AED/m²/year
– Q4 2024: ~1,660 AED/m²/year
– Average over the last 12 months: 1,634 AED/m²/year
– In Al Barsha South Fourth (studios):
– Q2–Q3 2024: ~1,100–1,400 AED/m²/year
– Q4 2024: ~1,150 AED/m²/year
– Average over the last 12 months: 1,255 AED/m²/year
Therefore, studios in Binghatti Gardenia are rented at rates around 30% higher than the district average.
4. Yield (ROI) and “fair price” for an investor
– Actual yield (brutto ROI) for studios in Binghatti Gardenia, based on the last 12 months:
ROI_brutto (building) = 1,634 / 21,005 ≈ 7.8% per annum
In the district, the average yield is:
ROI_brutto (district) = 1,255 / 17,326 ≈ 7.2% per annum
– Taking into account standard transaction costs (around 7–8% on entry), the adjusted net yield (ROI_net) will be lower by the same 7–8%, i.e.:
ROI_net (building) ≈ 7.8% / 1.08 ≈ 7.2%
ROI_net (district) ≈ 7.2% / 1.08 ≈ 6.7%
– Calculation of the “fair price range” for an investor targeting a 7–8% annual yield (guideline only!):
For Binghatti Gardenia:
– Fair price range: [1,634 / 0.08; 1,634 / 0.07] = [20,425; 23,343] AED/m²
The level at which deals are actually closing (21,005 AED/m²) falls within this range, meaning that purchases at current prices are justified for a 7–8% yield target. No discount to the building’s average price is required to reach 8%+ brutto ROI.
For the district, the range is: [1,255 / 0.08; 1,255 / 0.07] = [15,688; 17,929] AED/m², which is also close to actual transaction levels in the area.
5. Conclusions and outlook
Binghatti Gardenia is a highly liquid building with a very active sales and rental market. Studio prices are holding at roughly 20–25% above the average for JVC (Al Barsha South Fourth), which is justified by stronger demand and higher rental levels (studios rent for about 30% more than comparable units in the district). Brutto yield at current purchase prices is 7.8% per annum (net: 7.2%), which fully matches typical passive-income targets in Dubai and aligns with the investment “fair value” range.
Both the sales and rental markets have shown stable dynamics over the past 3–5 years, and there is every reason to expect demand to continue in the medium term. An investor targeting a 7–8% yield and quick leasing can view Binghatti Gardenia as a strong choice in terms of both liquidity and average return.
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