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1. Definition of the area and data structure
Actual location: According to DLD, the MARINA STAR building is located in the Marsa Dubai area within the Dubai Marina master project. For the analysis, only transactions were used where the apartment type is specified as 2 bedrooms (2 b/r or 2 bed rooms).
DLD records show 51 sales of 2-bedroom apartments in MARINA STAR, while the rental contracts table contains no lease agreements for 2-bedroom units either in this building or across Dubai Marina with this level of detail. Therefore, for the rental rate and yield section, we use data for the entire Marsa Dubai area for all residential formats (Residential), without reference to a specific apartment type.
2. Liquidity of the building and the area
Building liquidity: Over the past two years, 51 transactions for the sale of 2-bedroom apartments were completed in MARINA STAR — a very solid figure, indicating stable demand and high liquidity.
Area liquidity: The Marsa Dubai (Dubai Marina) area shows huge transaction volumes — 900–1,250 sales of 2-bedroom apartments per quarter in 2023–2025, confirming excellent liquidity and strong appeal for both investors and tenants.
3. Price dynamics per square metre
MARINA STAR, 2-bedroom apartments:
– Average price per m² in 2023: ~16,645 AED
– In 2024: ~27,100 AED (+63% year-on-year)
– Last 12 months: 27,560 AED/m²
Quarterly data shows peak values above 30,000 AED/m².
– In 2023 there was volatility: from 14,900 to 18,800 AED/m².
– In 2024–2025 prices moved to more stable levels of 29,000–31,000 AED/m².
Marsa Dubai, 2-bedroom apartments:
– In 2023: prices grew from 24,500 to 29,100 AED/m² by quarter.
– In 2024: some decline and correction to 21,400–26,200 AED/m².
– Last 12 months: 25,831 AED/m².
Comparison: Over the last 12 months MARINA STAR has been trading 7% above the area average for comparable apartments.
4. Rental dynamics and levels
For MARINA STAR and the Dubai Marina master project there are no registered rental contracts for 2-bedroom apartments either over the last 12 months or for the entire period in DLD. Therefore, rental and yield estimates can only be made based on Marsa Dubai data for all residential types.
Area averages:
– Average annual rent per m² (for all residential apartments): 1,310 AED over the last 12 months.
– Dynamics: rapid growth in rates from ~700–900 AED/m² in 2020–2022 to 1,170–1,310 AED/m² in 2023–2025, with moderate growth continuing in 2024–2025.
5. Comparison of the building and the area, fair price range
– MARINA STAR is selling at a premium of about 7% to the area’s average prices for 2-bedroom apartments.
– MARINA STAR (last 12 months): 27,560 AED/m²
– Marsa Dubai (last 12 months): 25,831 AED/m² (2-bedroom), 25,831 AED/m² (overall sales average), 1,310 AED/m² (average rent)
6. ROI (yield) and investment potential
Yield calculation:
– Current gross ROI for an average investor in the area: 1,310 / 25,831 ≈ 0.051 (5.1% per annum).
– Net ROI taking into account initial costs (7%): 5.1% / 1.07 = 4.8% per annum.
For MARINA STAR, it is not possible to calculate gross yield, as there is not a single confirmed rental contract for the building itself (this is typical for new or recently completed buildings). The area-based ROI estimate provides a benchmark and shows that the realistically achievable yield based on clean DLD data is around 4.8% per annum in the 2024 market. This is below the 7–8% per annum threshold that private investors in Dubai often target.
The “fair price range” for an investor aiming for 7–8% per annum (based on the market rent level in Marsa Dubai):
– 1,310 / 0.08 = 16,375 AED/m² — upper bound of the range for a target yield of 8% per annum
– 1,310 / 0.07 = 18,715 AED/m² — lower bound of the range for a target yield of 7% per annum
The current actual market price in MARINA STAR (27,560 AED/m²) is 47–68% above this “investment fair” range for a 7–8% target yield. Even the area average price (25,831 AED/m²) is significantly higher than this range.
7. Conclusions and recommendations
– MARINA STAR is a liquid new building with a steady turnover of 2-bedroom apartments at premium prices relative to the area.
– The area has strong demand, healthy transaction and rental volumes, and sustained capital growth since 2020.
– Price growth has significantly outpaced rental dynamics, and the current market yield for an investor based on DLD is only 4.8–5.1% (and lower after costs).
– To achieve the typical 7–8% annual yield (previously considered the norm for Dubai Marina), the market price of the asset should be in the range of 16,400–18,700 AED/m². This is noticeably below current prices both for the building and for the area.
– Buying an apartment in MARINA STAR today makes the most sense for personal use or as a bet on further capital appreciation in the area. For an investor focused on stable rental income, entering at current levels results in a 4.8–5.1% ROI, which corresponds to the global average for stable assets but is significantly below Dubai’s historical market expectations.
– The outlook for the building and the area remains moderately positive for investors due to high liquidity; however, the potential for further capital-driven returns may be largely exhausted — yields of 7–8% per annum are only achievable if the purchase is made at a 30–40% discount to the current level.
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