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1. Definition of the area and data structure
Actual location: According to Dubai Land Department, Mayas Geneva is located in Al Barsha South Fourth, within the Jumeirah Village Circle master project.
In the DLD database, there are 30 registered transactions for 2BR (two-bedroom) apartments in Mayas Geneva over the entire observation period. For rentals in the same building, there are 34 valid contracts recorded (for all apartment types), but no direct contracts specifically for 2BR units were found. Rental metrics will therefore be provided in an aggregated format for the building and for the district.
2. Dynamics and current purchase price levels
Sales of 2BR apartments in Mayas Geneva started in Q1 2023. Subsequent changes in the average price per square metre based on transactions in this building are as follows:
2023:
– Q1: 11,100 AED/m²
– Q2: 10,140 AED/m²
– Q3: 10,760 AED/m²
– Q4: 11,220 AED/m²
2024 (transactions recorded only in Q3 and Q4):
– Q3: 10,900 AED/m²
– Q4: 12,500 AED/m²
Over the last 12 months, the average purchase price for a 2BR in Mayas Geneva was 11,770 AED/m².
For comparison, in Al Barsha South Fourth the average price per m² over the last 12 months is higher, at 15,030 AED/m². The district shows stable positive dynamics: in 2022–2023 the average price per m² increased by roughly 40% (from 9,700 to 13,000 AED/m²) and continues to grow in 2024, with recent quarters in the 13,000–15,000 AED/m² range.
Thus, Mayas Geneva is currently priced noticeably below the district average.
3. Rental dynamics and rate levels
There have been no direct rental transactions for two-bedroom apartments in Mayas Geneva over the last 12 months, but across all residential units in this project the average rental rate was 1,110 AED/m²/year.
In the most recent quarterly breakdown for the building (all apartment types), the range is from 924 to 1,296 AED/m² across different quarters of 2024–2025, meaning the rental rate band is holding around 1,100–1,300 AED/m².
For Al Barsha South Fourth, the average rent per m² over the last 12 months is 1,038 AED/m²/year, i.e. Mayas Geneva is slightly above the district average.
District rental dynamics are clearly upward: in 2022–2023 average rates increased by almost 35% (from 680 to 930 AED/m²), and tenant costs have continued to rise over the last 12 months.
4. ROI calculation and fair price range
Based on approved DLD data, the average gross yield (gross ROI) for an investor in Mayas Geneva is:
– Gross ROI (building level): 1,110 / 11,770 ≈ 9.4% per annum.
– ROI for the district: 1,038 / 15,030 ≈ 6.9% per annum.
After factoring in all initial transactional costs (fees, brokerage, registration), the actual net yield (net ROI) for Mayas Geneva will be around 8.7% per annum (assuming an increase in entry cost of ~7–8%), and around 6.4% per annum for the district.
Assessment of the investment fair price range (target ROI 7–8%):
– For an investor targeting 7–8% per annum in Mayas Geneva, the fair price range is: 1,110 / 0.08 = 13,880 AED/m² (for 7% — 15,860 AED/m²).
– This means that the current market for the building offers an attractive yield for an investor even without a discount: the actual transaction price (11,770 AED/m²) is significantly below the “fair” investment level.
– For the district as a whole, the “fair investment price” range is: 1,038 / 0.08 = 12,970 AED/m², while the market price (15,030 AED/m²) is above this level, i.e. the district is trading at a premium to typical yields.
5. Liquidity and investor conclusions
Mayas Geneva shows positive dynamics in the number of transactions and is reasonably liquid — both sales and rentals are being recorded in 2024. In terms of returns, 2BR apartments in Mayas Geneva look significantly more attractive than both the district and the JVC benchmark: purchase prices here are 22% below the district average, while rental rates are comparable (or slightly higher).
Demand for both rentals and purchases in Al Barsha South Fourth has increased over the past two years, and the district remains attractive for tenants. Over the next 1–3 years, the building is likely to remain appealing for investors, especially given current pricing: the present price-to-rent ratio allows investors to earn 2–2.5 percentage points above the district benchmark.
Resale liquidity, assuming current trends persist, should remain in line with the market, but in the event of overheated demand or a wave of new launches, yield premiums are likely to compress.
6. Graphical data (monthly/quarterly dynamics):
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