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1. Definition of the area and data structure
Actual location: According to DLD, Milos by Karma is located in Wadi Al Safa 5, within the Dubai Land Residence Complex master project. All calculations and benchmarks in this report are strictly based on data for this area and master project.
Structure: The database for Milos by Karma contains 158 registered transactions for apartments (type Flat), however no recorded rental contracts for this building are available yet. All available information on rentals and ROI is analysed at the level of Wadi Al Safa 5 and the Dubai Land Residence Complex master project.
2. Market activity and liquidity
For Milos by Karma, the bulk of transactions took place in the last three quarters of 2024 and the subsequent quarters of 2025. The high turnover (94 deals in Q1 2025 alone and another 64 thereafter) indicates strong investor interest and an active phase of project handover or sales. Wadi Al Safa 5 as a whole also shows very high transaction volumes: hundreds and even thousands of apartment deals per quarter over the past two years. Liquidity is high at all levels.
3. Price dynamics per m² for the building and the area
For Milos by Karma (apartments):
– In Q4 2024 the average transaction price per m² was about AED 13,370.
– Throughout 2025 the level has remained in the range of AED 12,600–12,735 per m² (by quarter).
– On average over the last 12 months, the price per m² for the building is AED 12,723.
For Wadi Al Safa 5 (apartments):
– In 2023, quarterly prices in the area ranged from AED 6,370 to 9,721 per m².
– In 2024 a pronounced growth phase began: in Q2 the average price per m² already reached AED 10,499, in Q3 — AED 12,125, in Q4 — AED 11,794.
– Over the last 12 months, the average price per m² in the area is AED 13,399.
The dynamics show that Milos by Karma launched into a rising market slightly below the area’s average level, but the gap has narrowed significantly, and in recent quarters prices in the building have caught up with the wider area.
4. Analysis of rental rates
There are no current rental contracts with a reliable breakdown specifically for Milos by Karma, so the analysis is carried out at the level of Wadi Al Safa 5 and the Dubai Land Residence Complex master project:
– Across the master project (Dubai Land Residence Complex), over the last 12 months the average annual apartment rent is AED 709/m².
– In Wadi Al Safa 5 itself, the comparable rate over the last 12 months is AED 760/m².
– Looking at the area’s dynamics over the last 2 years (from 2023 to 2025), the annual rental rate has increased from AED 517 to 794/m² by quarter.
5. ROI (return on investment)
For Milos by Karma (based on the average rental level in the area):
– Average purchase price per m² in the building over the last 12 months: AED 12,723.
– Average annual rent in the area: AED 760/m².
Calculated indicators:
– Gross ROI for the area (using the area rental rate): 760 / 12,723 ≈ 6.0% per annum.
– Net ROI (adjusted for typical acquisition costs of ~7%): 6.0% / 1.07 ≈ 5.6% per annum.
For the area as a whole:
– Average price per m² over the last 12 months: AED 13,399.
– Average rent: AED 760/m².
– Gross ROI for the area: 760 / 13,399 ≈ 5.7%, net ROI ≈ 5.3%.
6. “Fair price range” for an investor
To achieve a target yield of 7–8% per annum, based on current rental rates (AED 760/m²), an investment “fair” purchase price for an apartment should be in the range of AED 9,500–10,900 per m². The current price level for Milos by Karma and the area (AED 12,700–13,400 per m²) exceeds this range by 15–30%, which is typical for new projects at the peak of demand or in the investor resale phase.
If the goal is to lock in a 7–8% annual yield, this will require either a correction in secondary market prices or a significant increase in rental rates over the next 1–2 years.
7. Comparison of the building with the area
– At the moment, Milos by Karma is trading on average about 5% below the wider area (AED 12,723 vs. 13,399 per m²), which is typical for new assets at the start of operation.
– The yield at current prices is slightly higher for the building (6%) than for the area (5.7%).
– If Milos by Karma is viewed as an asset in an active construction or early handover phase, it has several quarters of potential “catch-up” price growth relative to the area.
8. Conclusions
– Liquidity in Milos by Karma and across Wadi Al Safa 5 is very high; purchase demand is stable, and rental demand is showing steady growth.
– Yield at current prices is around 6% gross per annum, which is below the classic “investment-grade” 7–8%, but in line with the broader market trend of temporarily lower ROI against the backdrop of price growth since 2023.
– Price growth in the area over the last two years has been very strong, and the market still has room for further rental increases. However, given the current price levels, entry into the asset is more suitable for a long-term investor than for a short-term speculator.
– For an investor targeting a 7–8% ROI, the current market requires either waiting for rental growth or seeking a discounted acquisition (special offers on assignment deals, fast payment, etc.).
– According to DLD data as of June 2024, rental and ROI analysis for Milos by Karma cannot be calculated directly at the building level — all yield and rental rate estimates are based on benchmarks for the area and master project, which entails certain risks when extrapolating to a specific building.
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