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1. Definition of the area and data structure
Actual location: According to DLD, ONTARIO TOWER (“Ontario Tower”) is located in the Burj Khalifa area, within the Business Bay master project. The database contains more than 100 sales of one-bedroom apartments (1BR type), as well as a significant volume of transactions across the entire area. This confirms market liquidity and provides a sufficient basis for comparison with the wider district.
2. Sales analysis in ONTARIO TOWER (1BR)
Total number of transactions over the entire period: 104 sales of 1BR apartments.
Price dynamics (by quarter):
– From 2020 to mid-2022, the average price per m² in ONTARIO TOWER ranged from 7,300–10,500 AED/m².
– From 2022, an upward trend has been observed: by early 2023 the range reached around 9,500–12,000 AED/m².
– Over the last 12 months, the average transaction price for 1BR units in ONTARIO TOWER has increased to 11,800 AED/m².
Compared to the Burj Khalifa area (1BR apartments in aggregate):
– The average price per m² over the last 12 months in the area: 23,775 AED/m².
– Thus, 1BR apartments in ONTARIO TOWER are selling at roughly half the price of the comparable segment in the area.
Quarterly dynamics in the area are also clearly expressed: since 2020, the average price per m² in Burj Khalifa has risen from 14,000–16,500 AED/m² to 24,000 AED/m² in 2024.
3. Rental rate analysis
For ONTARIO TOWER and the Business Bay master project, DLD has not recorded a single valid rental transaction for 1BR units over the past several years. This may be due either to specific features of rental contract registration for this particular building or to low transparency in this segment.
For the Burj Khalifa area as a whole (all apartment types):
– Over the last 12 months, the average annual rent according to DLD was 1,592 AED/m².
– Typical dynamics since 2020: an increase from 810–950 AED/m² to 1,400–1,600+ AED/m² (2023–2024), with steady growth continuing.
– The last four quarters confirm the persistence of high rental rates.
4. Comparison of current levels and investment appeal
Current levels in ONTARIO TOWER (1BR):
– Average purchase price per m² over the last 12 months: 11,817 AED/m².
– In the Burj Khalifa area, the comparable figure is 23,775 AED/m².
Average rental rate for the area (since there is no data for the building): 1,592 AED/m² per year.
The discount of ONTARIO TOWER versus the area (based on sales) is very substantial — around 50%.
5. Projected return (ROI) and fair entry price
Since there is no rental data specifically for ONTARIO TOWER, ROI and the calculation of a “fair price for an investor” are provided only for the Burj Khalifa area:
– Gross yield for the area: 1,592 / 23,775 = 6.7% per annum.
– Taking into account standard acquisition costs (7% at entry), the net yield will be around 6.3% per annum.
– To reach a target investor yield of 7–8% per annum, the fair price range per m² should be: 1,592 / 0.08 = 19,900 AED/m² – 1,592 / 0.07 = 22,740 AED/m² (i.e. slightly below the current area average).
– In ONTARIO TOWER, current price levels are significantly below these thresholds. If an apartment can be rented out at the average area rental rate, the investor’s yield may be far above the area average (theoretically up to 13–14% gross), but this requires confirmation by actual rental transactions in this specific building.
6. Liquidity and outlook
The liquidity of ONTARIO TOWER and the Burj Khalifa area is confirmed by the large number of transactions and the stable growth in both prices and demand. The long-term upward trend in Burj Khalifa (for both sales and rentals) has remained stable over the past 3–4 years. The strong discount of ONTARIO TOWER versus the area average may indicate buyer appeal at reasonable rental rates, but the absence of registered rental contracts for the building creates uncertainty for investors regarding achievable actual returns.
Conclusion: ONTARIO TOWER is one of the most affordable residential options in one of Dubai’s most prestigious areas. At current sale levels, prices are many times lower than the broader market; yields may exceed the area average if rentals are achieved at prevailing area rates. However, for a conservative investor it is safer to focus on area-level indicators, and the lack of rental statistics for the building calls for caution in calculations. Liquidity is high and entry is below market, but actual returns depend on the ability to rent at market rates.
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