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1. Definition of the area and data structure
Actual location: According to DLD data, the Pearls by Vision building is located in the Nadd Hessa area, within the Silicon Oasis master project. All subsequent comparisons by area are made specifically against Nadd Hessa.
Data structure: There is a sufficient number of transactions and rental contracts for this building and location to allow for statistical analysis — dozens of sales of 2-bedroom apartments have been recorded, as well as more than 30 active rental contracts (across the entire building).
2. Sales volume and dynamics
Sales activity: Between 2024 and 2025, 42 sales of 2-bedroom apartments were registered in Pearls by Vision, indicating high liquidity of the asset at the project implementation stage.
Price dynamics:
– Average price per square metre in the building for 2-bedroom apartments:
– Q3 2024: 10,246 AED/m²
– Q4 2024: 10,616 AED/m²
– Q2 2025: 12,239 AED/m²
– Q3 2025: 10,347 AED/m²
– Q4 2025: 12,252 AED/m²
– The average price per square metre for 2-bedroom apartments across Nadd Hessa is growing much faster, especially in 2025 (up to 15,374 AED/m² in Q2 2025). Over the last 12 months, the building has been priced 15–30% below the area benchmark.
Market average levels:
– For the building (last 12 months): 11,435 AED/m²
– For Nadd Hessa (last 12 months, 2-bedroom units): 13,651 AED/m²
3. Rental dynamics and levels
Rental volume and data validity: For Pearls by Vision, 36 rental contracts have been recorded (all unit types). Over the last 12 months there have been enough new contracts to correctly assess the average rental rate.
Average rent per m²:
– For the building: 959 AED/m²/year (last 12 months, all apartments)
– For Nadd Hessa: 734 AED/m²/year (all apartments, last 12 months)
Dynamics:
– In Pearls by Vision, quarterly rental levels consistently stay above the area average (over the last two quarters: ~960–980 vs. ~730–760 AED/m² in the area), reflecting strong demand and the comfort level of the new property.
– The area shows steady growth: at the beginning of 2023, the level was 560–590 AED/m²/year, and by the end of 2025 it reaches 735–759 AED/m²/year.
4. Comparison of prices and rents: building vs. area
– Pearls by Vision (actuals, all apartments): rental rates are higher than the area average (by 200–250 AED/m², i.e. by 25–30%), while the average purchase price over the last 12 months is below the area level (11,435 vs. 13,651 AED/m²).
– Therefore, the yield for the building is higher than the area average, despite a more attractive entry price for the investor.
5. Yield (ROI) and investment perspective
– Maximum possible (gross) ROI for the building, calculated as the ratio of annual rent to purchase price over the last 12 months: 959 / 11,435 ≈ 8.4%.
– Gross ROI for Nadd Hessa (average level): 734 / 13,651 ≈ 5.4%.
Adjusting for all transactional costs (7–8% initial expenses):
– Net yield for the building is ≈ 7.8–7.9% per annum, which is at the upper end of the fair range for current DSO offerings.
– Net yield for the area is significantly lower (around 5.0%), in favour of the new building.
Investment-fair price range to achieve a 7–8% annual yield (a guideline for seller/investor):
– For the building: 959 / 0.08 = 12,000 AED/m² (at 8% ROI) and 959 / 0.07 = 13,700 AED/m² (at 7% ROI)
– The average transaction price in the building (11,435 AED/m²) is at a DISCOUNT to the upper bound of investment logic, leaving room for price growth over the project completion horizon, after full handover and occupancy.
6. Conclusions on liquidity and outlook
– Pearls by Vision demonstrates excellent liquidity metrics (high number of sales and leases, strong final rental rate).
– The potential for price growth at the point of entry to the secondary market is high: investment yield exceeds the area average by 2.5–3 percentage points.
– This modern new building compares favourably with the area average, both in terms of entry prices (15% lower) and average rental rate (25–30% higher).
– There is a clear driver for growth in secondary sales and narrowing of the discount to the area as the building fills up and rental cash flows stabilise.
– Over a 3–5 year horizon, Pearls by Vision is suitable for investors focused on income with subsequent resale, or on conservative buy-to-let strategies.
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