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1. Definition of the area and data structure
Actual location: According to DLD, the Orra Marina building is located in the Marsa Dubai area, within the Dubai Marina master project. All further area and local benchmarks will therefore be built relative to Marsa Dubai.
2. Overall activity and liquidity
Over the entire period, around 160 sales of 2-bedroom apartments (2 b/r) have been registered in Orra Marina, indicating good liquidity and a well-established resale market. In terms of rentals, DLD records more than 600 contracts for the entire building over the whole period, confirming strong rental demand.
3. Sale price dynamics per square meter
For 2-bedroom apartments in Orra Marina, the average transaction price per m² has shown the following trend:
– From 2020 to 2021, prices held at 10,000–12,000 AED/m²;
– Starting from 2022, a confident upward trend is visible: the average price per m² gradually increased to 13,000–15,500 AED/m²;
– In 2023, prices reached an average of 13,000–17,000 AED/m²;
– Over the last 12 months (current data), the average price per m² for 2-bedroom apartments specifically in Orra Marina amounted to 16,655 AED.
– For comparison, across the entire Marsa Dubai area, the comparable figure for the same type of apartments is 23,257 AED/m² over the last 12 months, which indicates a noticeable price premium of the area relative to this particular building.
4. Rental rate dynamics
For 2-bedroom apartments, there have been no rental contracts directly linked to Orra Marina in DLD over the last 12 months, but for the entire building (all apartment types) the average rental rate amounted to 1,137 AED/m²/year. Across Marsa Dubai, the average annual rental rate is 1,315 AED/m².
The long-term trend shows a confident increase in rents: while in 2020–2021 the building’s averages were 700–800 AED/m², from 2023 onwards the figures have consistently exceeded 1,000 AED/m², and are even higher in some contracts.
Breaking down the last 12 months (for the building, all apartments): most contracts cluster in the 950–1,350 AED/m² range, with some reaching 1,500–1,550 AED/m² in the most recent deals and for the most liquid units.
5. Comparison of demand and pricing with the area
Orra Marina is noticeably cheaper than the area average in terms of price per m², which may be due both to the age of the building and to unit characteristics. Rental rates in the building are slightly below the area average, but are also growing steadily and remain at a solid level for Dubai Marina.
6. Investment yield (ROI)
Over the last 12 months (for the entire building, all apartments):
– Average purchase price: 16,655 AED/m² (for 2-bedroom units in Orra Marina);
– Average rental rate: 1,137 AED/m²/year (for the entire Orra Marina building);
– Gross yield, assuming the apartment is rented for the full year: around 6.8% per annum.
– For Marsa Dubai: price 23,257 AED/m², rent 1,315 AED/m²/year, gross yield 5.7% per annum.
Taking into account standard transaction costs (around 7–8% entry costs), the actual net yield (ROI_net) will be:
– For Orra Marina: around 6.4% per annum.
– For the area: around 5.3% per annum.
7. “Fair price range” for an investor (targeting 7–8% annual yield)
Based on the current rental level in the building (1,137 AED/m²), a fair price range for an investor targeting a 7–8% annual yield can be considered:
– 1,137 / 0.08 = 14,213 AED/m² (required level for 8% per annum)
– 1,137 / 0.07 = 16,243 AED/m² (required level for 7% per annum)
The actual average transaction price over the last 12 months is 16,655 AED/m²: to reach the 7–8% target, an investor would need a small discount to current building prices (around 3–6%).
For Marsa Dubai: rent 1,315 AED/m² → “fair” price 16,438–18,786 AED/m², whereas transactions are averaging 23,257 AED/m² – to achieve the desired ROI, a substantial discount is required (around 15–30%).
8. Risks, liquidity, prospects
Orra Marina remains a liquid building with stable demand both for sales and rentals. Price and rental growth are evident (see historical data), but yields are already close to the lower bound of attractiveness for investors against the backdrop of overall price growth in Dubai Marina. The building’s liquidity is high in both markets (rent and sale), while its price levels are on average lower than in neighboring new developments and premium projects in the area. The 3–5 year growth outlook is moderate: as the market continues to mature, further yield expansion will be constrained by the prevailing price and rental levels in the area.
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