1. Definition of the area and data structure
Actual location: the DAMAC HILLS – GOLF GATE property is formally part of the Al Hebiah Third area, within the DAMAC HILLS master project. This is confirmed by a direct query to the DLD sales transactions database.
For 2-bedroom apartments in this building, 139 sales have been recorded in the database. For the analysis, we used data at the building level (DAMAC HILLS – GOLF GATE, 2 b/r) and at the master project and area level (DAMAC HILLS, Al Hebiah Third, Residential Flats) for comparison.
2. Sales analysis
There is a consistently high number of transactions for 2-bedroom apartments, with peaks in 2023 (especially Q1). The distribution by year and quarter indicates that the main volume of launches/contracts has taken place relatively recently in the off-plan segment (it is assumed that handover/permits are not yet fully completed).
Dynamics of the average price per m² in the building over the past two years:
– In Q3–Q4 2022 — 12,000–12,700 AED/m².
– In 2023 there was growth to 13,000+ AED/m² (up to 2023Q2), followed by a correction to the 10,400–12,100 AED/m² range.
– In 2024 — sharp volatility: from a spike to 15,490 AED/m² (on individual deals, 2024Q2) to a decline below 10,000 AED/m² in autumn–winter 2024.
The average price in the building over the last 12 months: 11,088 AED/m².
For comparison, in the DAMAC HILLS master project within Al Hebiah Third, the average price per m² over the last 12 months was 14,795 AED/m².
Quarterly breakdown at the area level shows a confident price recovery in 2023–2024 (+30% versus 2021–2022).
Overall, DAMAC HILLS – GOLF GATE is currently trading at a discount on recent transactions versus the DAMAC HILLS average in Al Hebiah Third: -25%.
3. Rental analysis
The DLD has no confirmed rental contracts for 2-bedroom apartments specifically in DAMAC HILLS – GOLF GATE. There is also no data on 2-bedroom apartments in DAMAC HILLS within Al Hebiah Third (zero sample).
Therefore, analysis of the average rental rate per m² is only possible at the level of the entire residential pool of DAMAC HILLS (Al Hebiah Third), without breakdown by apartment type.
Average rent per m² over the last 12 months for the area: 1,039 AED/m²/year.
The dynamics show a strong increase in rates — from 600–700 AED/m² (2021–2022) to 1,000+ AED/m² (2024), indicating growing demand and good liquidity in the area.
4. Yield calculation and fair investment price
ROI for the building cannot be calculated directly — there is no rental data for apartments in this specific tower.
For the area (Al Hebiah Third, DAMAC HILLS):
– Average purchase price per m² (last 12 months): 14,795 AED/m².
– Average rent per m² (last 12 months): 1,039 AED/m².
Rough gross ROI for the area: 1,039 / 14,795 = 7.0% per annum assuming full occupancy and no expenses.
Taking into account standard entry costs (around 7% of the total transaction amount), the actual yield decreases by ~7–8%:
– Net ROI = around 6.5% per annum (1,039 / (14,795 * 1.07)).
Fair price range for a target yield of 7–8% for the area:
– For an investor targeting 7–8%: fair price = 13,000–14,900 AED/m².
– The current average for DAMAC HILLS – GOLF GATE is ~11,088 AED/m², i.e. buying here is objectively cheaper than the area average, which may provide additional upside as liquidity normalises and rental data for the building itself appears.
Without confirmed rental rates for this specific building (and for 2-bedroom apartments in the area), it is not possible to state with certainty that ROI will match the area average, but historical rental demand levels look stable.
5. Liquidity and outlook
There are enough transactions in the building to assess liquidity, although activity is unevenly distributed — the bulk relates to primary sales and handover/settlement. The DAMAC HILLS area is one of the largest new clusters, with a wide range of stock; price and rental dynamics indicate strong demand.
Relative to the area, DAMAC HILLS – GOLF GATE is currently trading at a noticeable discount to the average DAMAC HILLS level for apartments, which may narrow in the future as the building fills with tenants and statistics on actual rents emerge.
There is still no DLD data for an accurate calculation of real yield at the level of this particular tower for 2-bedroom units. The benchmark should be the wider area market, factoring in a moderate time lag and the expectation that the building will converge towards the area level as it matures.
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