1. Definition of the area and data structure
Actual location: According to DLD transactions, the MIRDIF TULIP building is located in the Mirdif area, within the Uptown Mirdif master project.
Data scope and structure: For 1-bedroom apartments (1 b/r) in the building, 15 transactions have been recorded from late 2020 to the present. For leasing, over the past 4 years there have been no valid DLD contracts in the database for this building, the master project, or the area specifically for 1-bedroom units. Aggregate data on the annual rental contract market for apartments in Mirdif is available only at the overall district level, without breakdown by bedroom types.
2. Sales volume and frequency
Transaction activity for 1-bedroom apartments in MIRDIF TULIP is moderate: 1–3 deals per quarter, without a pronounced spike or seasonality. Over the past 2 years, transactions have been recorded in every major period, which confirms both supply and demand liquidity. In total, across all apartments in the building, the number of deals in the selected period indicates that the asset cannot be considered illiquid.
3. Dynamics of the average price per square metre
The price per m² for 1-bedroom apartments in MIRDIF TULIP in 2020–2025 showed a wave-like pattern: the minimum level was recorded at the end of 2020 (around 7,900 AED/m²), then quotations grew gradually and in 2022–2023 were in the range of 7,900–8,500 AED/m². Starting from 2024, a sharp increase in the average price is visible: in Q2 2024 the level reached around 10,500 AED/m², and by Q4 it exceeded 11,900 AED/m². Over the last 12 months, the average transaction price for 1-bedroom apartments in the building was approximately 10,525 AED/m².
4. Comparison with the district
For comparison, the average transaction price per m² for apartments in Mirdif over the last 12 months is about 11,976 AED/m², which is ~14% higher than the level in the subject building over the same period. The district-wide dynamics are noticeably more stable and higher in absolute terms: the 2023–2025 range is 11,500–12,300 AED/m². It can be stated that MIRDIF TULIP is currently trading at a moderate discount to the district average.
5. Rental dynamics and levels
For the building itself and the Uptown Mirdif master project, the DLD database has no valid rental contracts over the past few years with a breakdown for 1-bedroom apartments (or apartments at all). At the level of the entire Mirdif district, the average annual rental rate for any apartments over the last 12 months was approximately 544 AED/m² per year.
Historically, from 2020 to 2024 the average rental level in the district ranged from 420 to 500 AED/m², with gradual growth. Even at the district level there are no current contracts for a specific format (1-bedroom), but the overall market average can be used as a reference point.
6. ROI (payback) and fair price range
Calculated figures:
– Average transaction price for 1-bedroom apartments in MIRDIF TULIP over the last 12 months: 10,525 AED/m².
– Average annual rent for apartments in Mirdif: 544 AED/m².
Rough gross yield (ROI_brutto):
– For the district: 544 / 11,976 ≈ 4.5%.
For MIRDIF TULIP itself, the annual ROI at the district rental rate will be: 544 / 10,525 ≈ 5.2%. This is the potential “gross yield” without accounting for entry costs and expenses.
Taking into account transaction costs (7–8%):
– The indicative net yield (ROI_net) for the building is around 4.8–4.9% per annum.
Fair price range for an investor at a target yield of 7–8%: if we take the district’s average rent, then the “investment fair price” for an annual yield of 7–8% is 6,800–7,800 AED/m². The current average market transaction price (10,525 AED/m²) is 35–55% above the calculated “fair price” for a target ROI of 7–8%. Achieving such yields would require a notable discount to the market or growth in rental rates.
7. Liquidity and outlook
The building and the district are liquid in terms of transaction count, and the rental market is active at the overall apartment level. However, the current price level makes the typical investment yield lower than common benchmarks, which is also reflected in the district statistics. Price dynamics in the building are catching up with the district segment, but no strong growth is observed on the rental side. For a long-term investor, the current yield level is 4.5–5.2% before expenses; higher payback would require a discount to the market.
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