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1. Definition of the area and data structure
Actual location: the Jomana 5 building is confirmed in the DLD database, the DLD-designated area is Um Suqaim Third (zoning is confirmed by transaction data for the building). In this case, the master project is not explicitly recorded by DLD. Sales for Jomana 5 in the database started in June 2023, with a total of 49 transactions recorded, covering the period from mid‑2023 to the current date; there are also a number of transactions with later registration dates (they were not included in the price dynamics analysis if they are later than the current date).
There is not a single recorded rental transaction (Ejari) for the Jomana 5 building itself in DLD at the moment. For rental and yield analysis, the level of the entire Um Suqaim Third area was used.
2. Sales dynamics and structure
– Over the past 12 months, the average sale price for the Jomana 5 building amounted to 29,250 AED/m².
– For the Um Suqaim Third area, the average price level over the past 12 months is 28,434 AED/m².
– Quarterly price dynamics for the building: immediately after the start of sales (Q2 2023) the average value was 27,813 AED/m²; in the subsequent quarters of 2023 it remained in the 27,500–27,900 AED/m² range. In 2024 the value increased slightly; in the latest quarters, where there is only one transaction per quarter, volatility is elevated (from 23,347 to 33,325 AED/m²).
– For the Um Suqaim Third area there is a confident price growth trend: from mid‑2022 from 22,500–23,000 AED/m² to 29,000–30,000 AED/m² in 2024. This is roughly +30% over two years. The transaction volume in the area is high, with hundreds of sales recorded per quarter, which indicates strong liquidity.
3. Rental market and yield analysis
– For the Jomana 5 building, rental data is completely absent — not a single lease contract was found at the time of the request.
– In the Um Suqaim Third area, over the past 12 months more than 600 valid apartment rental transactions with confirmed area have been concluded; the average annual rental rate per m² is 1,259 AED/m².
– Rental dynamics in the area: since the beginning of 2023, average rates have increased from 900–1,000 AED/m² per year to 1,200–1,380 AED/m² at the end of 2024 – beginning of 2025.
4. Yield (ROI) assessment and fair price range
– The annual gross yield in the Um Suqaim Third area, based on the actual average transaction and rental prices over the past 12 months, is:
ROI_brutto_area = 1,259 / 28,434 ≈ 4.4%
– After deducting initial purchase costs (taxes, commissions), assumed at 7–8% of the apartment price, the effective (net) yield decreases to 4.1–4.2% per annum.
– The fair price range for an investor targeting 7–8% per annum (at the area level) is from 15,700 to 18,000 AED/m² (calculated as the average area rent divided by 0.08 and by 0.07). The current market price in the area and in the Jomana 5 building is significantly above this range (the difference is from +57% to +86% versus the upper bound of the fair price for a 7–8% ROI).
– The actual market yield of apartments in Jomana 5 and in Um Suqaim Third is significantly below classic investment benchmarks (7–8% per annum).
5. Liquidity and prospects
Demand in the Um Suqaim Third area remains consistently high — the number of transactions in the area exceeds 300–400 per quarter, and rental volumes are substantial. For Jomana 5, the number of sales is moderately high and typical for a new project in the stages of construction and handover; however, the absence of rentals at the moment suggests that occupancy is likely only just beginning, or that rental transactions have not yet been registered in Ejari/DLD.
The +30% increase in the average price in the area over two years indicates strong demand and positive capital value dynamics, but the current price level for income‑focused purchases looks too high. Investors targeting rental yield will likely need a substantial discount to achieve the target 7–8% per annum; otherwise, the yield will be close to bank deposit levels.
6. Comparison of the building and the area
– The price per m² in Jomana 5 over the year is 2.9% higher than the area level (29,250 versus 28,434 AED/m²).
– Due to the lack of rental history in the building itself, yield and a reasonable price range can only be calculated at the area level.
7. Conclusions
Jomana 5 is a new project in a location with strong demand and confirmed capital value growth. The rental market is well developed at the area level, but there are no established rental rates for the building itself yet. An investor should factor in the relatively low current ROI and either focus on long‑term capital appreciation or seek a discount to market prices to align with target investment benchmarks.
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