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1. Definition of the area and data structure
Actual location: According to DLD, the Binghatti Onyx building belongs to the Al Barsha South Fourth area and the Jumeirah Village Circle master project. All subsequent comparisons with average values are made specifically for these administrative units.
Data volume: The DLD database records 735 sale transactions for Binghatti Onyx and 302 valid lease contracts across the full range of unit sizes and apartment types, which provides sufficient sample representativeness.
2. Liquidity and market dynamics in the building
Liquidity: Over the last four quarters, the number of transactions has remained stable — on average about 50–70 deals per quarter across the entire building. Historically, the highest activity occurred in Q3 2023 (257 transactions, likely the peak of the initial sales launch). In recent quarters, transaction volume has shifted into a phase of steady absorption of units listed for sale or already handed over.
Price dynamics: The average price per square meter in Binghatti Onyx based on transactions over the past 12 months is 14,204 AED/m². Quarterly dynamics show a smooth increase: while in Q2–Q4 2023 average prices were in the 12,300–13,000 AED/m² range, from 2024 they have fluctuated around 13,900–15,300 AED/m². A local peak was recorded in Q3 2024 (15,129 AED/m²), after which values have remained stable (around 14,000–15,300 AED/m² for future payment tranches reflected in the database).
Comparison with the area: Over the same period, the average price in Al Barsha South Fourth is 15,223 AED/m². Thus, Binghatti Onyx is priced roughly 7% below the area average, which is typical for new or mass-market complexes in the active sales phase.
3. Rental market and rates
Data availability: The DLD database does not record any studio (0BR) rentals in Binghatti Onyx; across the project, transactions are dominated by one- and two-bedroom apartments, which reflects the planning structure of the complex.
Average rental rate per m² in the building: Over the last 12 months, valid contracts (after applying filters by size and price) show an average rental rate in Binghatti Onyx of 1,168 AED/m² per year.
The corresponding rate for the Jumeirah Village Circle master project is 1,016 AED/m², meaning that leasing apartments in Binghatti Onyx generates about 15% higher income per m² compared to the surrounding market.
Rate dynamics: Quarterly rental dynamics in Binghatti Onyx are stable: rates remain in the 1,150–1,280 AED/m² per year range, with a slight increase in the most recent quarters (from 1,171 to 1,282 AED/m² based on the latest available data).
4. Comparative market analysis and returns
Price and rent comparison: Over the past 12 months, the average purchase price per m² in the building has been close to the lower bound of the area range, while rental rates, on the contrary, significantly exceed the area benchmark. For an investor, this indicates a strong relative yield for the project.
ROI calculation:
– Gross yield for an investor, based on the building’s average figures for the last 12 months:
ROI_binghatti = 1,167.73 / 14,204.14 = 8.2% per annum.
– For the area (Al Barsha South Fourth):
ROI_area = 1,016 / 15,224 = 6.7% per annum.
– Adjustment for transaction costs (around 7% entry costs, including DLD, broker, and other expenses):
An increase in the entry price to 15,198 AED/m² reduces net yield to 7.6% for the building and 6.3% for the area.
– Investment “fair price” range to achieve a 7–8% ROI:
For Binghatti Onyx: 14,597 – 16,682 AED/m².
The current market price falls within this range.
This means that buying apartments in this building at today’s market levels is reasonable for an investor — the property can deliver the target yield of 7–8% per annum based on current rental rates and average transaction prices, without relying on aggressive capital appreciation.
5. Conclusions and outlook
– Binghatti Onyx is a new project enjoying strong demand from both tenants and investors, as evidenced by the volume of transactions and lease contracts.
– The price growth rate in the building is slightly below the area average; however, this is offset by higher rental rates.
– The yield for Binghatti Onyx based on the last 12 months exceeds the area benchmark and matches a typical investment target (up to 8% net per annum), without the need to rely on rapid capital growth.
– Sales and rental dynamics have stabilized at a moderately positive level: there are no significant signs of market overheating or declining liquidity.
– Over a 3–5 year horizon, one can expect a stable rental income stream and moderate capital appreciation, assuming demographic and macroeconomic trends in Jumeirah Village Circle remain in place.
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