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1. Definition of the area and data structure
Actual location: according to DLD data, the building ELANO BY ORO24 is located in Al Barshaa South Third, within the Arjan master project. All analytics below are based strictly on these identifiers.
2. Liquidity and transaction volume
There have been 346 sale and purchase transactions recorded for ELANO BY ORO24 (across all apartments), the bulk of which occurred in Q2–Q3 2023. Thereafter, transaction intensity dropped significantly, which is typical for new projects (with off-plan/primary sales dominating at launch).
Studios in Arjan remain a liquid product: both for the building and for the wider area, there are tens of thousands of active rental contracts on record (over recent years more than 15,000 studio rental contracts have been registered in Arjan).
3. Price dynamics per m² (sales)
For studios in ELANO BY ORO24:
– In 2023, the average price per m² remained in the range of 15,600–16,000 AED.
– In Q1 2024, there was a brief local dip to 15,200–17,700 AED/m².
– Over the last 12 months, the average price per m² based on transactions in the building was 15,589 AED.
For comparison, for studios in Al Barshaa South Third:
– In 2020–2022, prices were lower: 8,300–12,000 AED/m², after which a steady upward trend began.
– In 2023, levels converged with Elano, and in 2024 the average price in the area over the last 12 months reached 15,676 AED/m².
Thus, ELANO BY ORO24 is selling at an average price broadly in line with the wider area.
4. Studio rental market
For ELANO BY ORO24 itself, there are currently no active studio rental contracts in the DLD database (this is due to the project’s recent launch and off-plan status). Therefore, all further rental calculations are made at the level of the Arjan master project and the Al Barshaa South Third area – these figures reflect the applicable market level.
The average studio rental rate in the Arjan master project over the last 12 months is 1,136 AED/m² per year. In Al Barshaa South Third, the comparable level is 1,089 AED/m² per year. There is a clear, sustained quarter‑on‑quarter upward trend in rental rates.
5. Return on investment (ROI) calculation
Since there is no rental data for the building itself, ROI is assessed solely at the area and master-project level.
– Gross yield (ROI) at the area level:
– annual studio rent: 1,089 AED/m²
– purchase price: 15,676 AED/m² over the last 12 months
– calculated ROI = 6.9%
– Gross yield for the Arjan master project: 7.3% (based on similar entry prices).
– Taking into account initial entry costs (registration, taxes and commissions ≈ 7–8%), net ROI falls to 6.3–6.5% per annum.
6. Fair price range estimate for a 7–8% yield
For an investor to achieve a 7–8% annual yield at the current rental levels:
– The “fair” purchase price for a studio should fall within 13,600–15,600 AED/m² (calculation: rental rate divided by 0.08 or 0.07 respectively).
– The current average transaction price in Elano and in the area is at the upper boundary of this range. Buying at current prices implies a target gross yield of roughly 6.9–7.3% before costs.
7. Conclusions on investment attractiveness
The project and the area both show high liquidity thanks to the volume of new construction and stable demand for studio rentals. Launch prices demonstrated strong growth, which is now slowing as the market matures and projects are handed over. The current price range in the building is fully aligned with the area benchmark.
The potential for further growth in commercial returns is limited, as prices have already reached a yield level of around 7–7.5% per annum. When buying at market with leverage, you should focus on a net yield in the 6–6.5% per annum corridor.
If your target yield is higher, achieving 8% per annum will require purchasing at a discount to current transaction levels. Paying a premium to the average market price will reduce effective returns. The influx of new studios is increasing competition in the rental market, which may stabilise or slightly slow the growth of rental rates.
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