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1. Definition of the area and data structure
Actual location: according to DLD, Horizon Tower is located in the Marsa Dubai area (Dubai Marina master project).
For the analytical sample, filters were applied for the Horizon Tower building and individual 1-bedroom apartments (“1 b/r” in sales, “1bed room/1 bed room” in rentals).
A query to the DLD database for sales of 1-bedroom apartments (1BR) in Horizon Tower showed that over the entire historical period there has not been a single sale of a 1BR unit in this building. To track price dynamics, a sample of all apartments in Horizon Tower was used (179 transactions).
For 1-bedroom rentals in Horizon Tower there is also no data in DLD. After expanding the filter to all apartments in the building, the result is the same — not a single valid lease contract for Horizon Tower has been recorded.
At the next level, within the Dubai Marina master project, extensive data is available for both sales and rentals of apartments.
2. Sales dynamics over 3–5 years
Analysis for Horizon Tower:
– Since 2020, the number of transactions per quarter has been relatively stable (from 1 to 20 per quarter), indicating liquidity, with the most active period in 2021–2024.
– The average price per m² for apartments in the building has shown steady growth: from 6,700–8,500 AED/m² in 2020–2022 to 9,300–13,000 AED/m² in 2023–2024.
– Over the last 12 months, the average transaction price in Horizon Tower was 11,551 AED/m².
Comparison with Marsa Dubai:
– The average price in the area over the last 12 months was 24,914 AED/m², which is significantly higher than in Horizon Tower.
– Over five years, the area has seen even more pronounced growth: in 2020 the average level was 13,500–18,000 AED/m², and in 2023–2024 it was predominantly 22,000–27,000 AED/m².
– Thus, Horizon Tower is trading at a clear discount to the area (about 2.2 times cheaper than the Marsa Dubai average).
3. Rental market (according to DLD)
There are no valid rental transactions in Horizon Tower either for 1BR units or for any other apartment types — this is important for an investor to understand: at this address, not a single lease contract has been officially recorded for the entire period covered by DLD.
At the same time, at the Dubai Marina master-project level:
– Over the last 12 months, the average annual rental rate for all apartments is 1,247 AED/m² per year.
– In recent quarters, the rate has remained in the 1,100–1,290 AED/m² range, showing a gradual increase over 2023–2024.
4. ROI calculation (only at the area level)
Due to the absence of rentals in the building, it is not possible to calculate actual returns specifically for Horizon Tower. However, based on averaged data for Dubai Marina:
– Area-level ROI = 1,247 / 24,914 ≈ 5.0% (gross).
– Taking into account initial transaction costs (around 7–8% of the entry price), the indicative net ROI for the area is in the range of 4.6–4.7%.
Fair price range for an investor targeting a 7–8% annual yield:
– To achieve a 7% annual rental yield at the average area rate, the target purchase price should not exceed 1,247 / 0.07 ≈ 17,800 AED/m²;
– For an 8% annual yield — not higher than 1,247 / 0.08 ≈ 15,600 AED/m².
All these levels are significantly above the current market prices in Horizon Tower itself, where the average transaction is around 11,551 AED/m². Theoretically, if units could be rented at area-level rates, the potential ROI could be significantly above the market average (10%+ zone). However, it cannot be claimed that such rental rates are actually achievable in this building — DLD shows no registered leases at all.
5. Investor takeaways
– Horizon Tower consistently trades at a substantial discount to the area (price per m² on average 2.2 times lower than in Marsa Dubai).
– The transaction volume for this building in recent years is sufficient to confirm liquidity.
– According to DLD, there are no official rentals in the building — neither for 1BR units nor for other apartment types.
– ROI calculations have to rely solely on averaged area-level data. At current prices in the building, theoretical returns would be extremely high if units could be rented at area rates, but this is not supported by actual contracts.
– For a sound investment decision, it is critical to verify whether official leasing of apartments in this building is possible at all, clarify this with the management company, and understand why there are no registered rental agreements.
6. Outlook
For resale (liquidity), Horizon Tower remains an attractive asset due to its strong discount to the area. For a buy-to-let investor, there is upside potential, but the risk of not securing tenants / being unable to lease is extremely high. For long-term ownership, it is preferable to choose buildings with a proven track record of stable rentals.
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