ROI analysis of apartment in Rove Home Residences: DLD data and real deals — 01.01.2026

1. Definition of the area and data structure

Actual location: according to DLD, the building ROVE HOME RESIDENCES by IRTH belongs to the Burj Khalifa area, master project DownTown Dubai. For area- and master-project-level benchmarks, comparisons are made with properties in Burj Khalifa and within the DownTown Dubai master project.

A total of 361 sales have been registered for the building, and around 35,700 transactions in the Burj Khalifa area. The asset is a new building, with most transactions being primary sales or early resales. The analysis focuses on 0-bedroom units (studios), as this is the specific type under review.

2. Demand and liquidity dynamics

In ROVE HOME RESIDENCES by IRTH, the main transaction peak occurred in Q4 2023 and Q1 2024 (170 and 148 deals respectively), which is typical for the launch phase of new projects. In subsequent quarters, volumes dropped significantly – in Q2 2024 there were only 18 deals, followed by isolated sales. The building is now in a low stage of regular turnover (the main sell-out and early resales have been completed).

The Burj Khalifa/DownTown Dubai area maintains high liquidity: quarterly transaction volumes for studios consistently reach dozens and hundreds of deals, which ensures a resilient secondary market and strong demand.

3. Price per m² dynamics – building and area

Average transaction price per m² for studios in ROVE HOME RESIDENCES by IRTH:
– Q4 2023: 35,064 AED/m² (81 deals)
– Q1 2024: 35,131 AED/m² (88 deals)
– Q2 2024: 39,841 AED/m² (2 deals)
– Q4 2024: 38,517 AED/m² (3 deals)
Over the last 12 months, the average recorded price in the building is 34,854 AED/m² (6 deals fall within the date range).

For studios in the Burj Khalifa area over 12 months: the average is 33,181 AED/m² (688 deals), meaning the building trades at a premium of about 5% to the average studio level in the area/master project over the same period.

Recent years’ trend for the Burj Khalifa area:
– A sharp increase in price per m² from the second half of 2022 (from ~22,000 to 29,525 AED/m² in Q4 2023),
– Peaks at the end of 2023 – beginning of 2024 (up to 29,525 AED/m²), followed by a correction to ~25,678–27,589 AED/m².
New projects and exclusivity can explain the price premium in the building under analysis.

4. Rentals and yield (ROI)

For ROVE HOME RESIDENCES by IRTH and direct rental comparables (according to DLD, not a single valid rental contract in the building has been registered over the last 36 months). To estimate yield, the master-project and area benchmarks are used:
– For studios in DownTown Dubai (and Burj Khalifa), the average annual rental rate over the last 12 months is 1,726 AED/m² (638 and 652 contracts respectively – a large sample, reliable data).
– Quarterly dynamics: a year ago – around 1,450 AED/m²; in the latest quarters of 2024 there is a sharp increase to 2,013–2,035 AED/m², reflecting market demand and a shortage of studios, but the 12‑month median is 1,726 AED/m².

Since there are no specific rental deals for the building, the assessment relies solely on the area-level indicator.

5. ROI and fair price range

Yield calculation (ROI, for illustration only):
– Gross ROI for the area (Burj Khalifa, studios): 1,726 / 33,181 ≈ 5.2% per annum (gross).
– Gross ROI for the building (if we hypothetically apply the building’s average price): 1,726 / 34,854 ≈ 5.0% per annum.

Net yield, taking into account initial costs (commissions + taxes ~7%): ROI_net ≈ 4.7–4.9% per annum.

To reach a target yield of 7–8% per annum, the “investment fair price” for such studios in the area/building should be in the range of:
– Area: from 21,600 to 24,700 AED/m²,
– Building: from 21,600 to 24,700 AED/m² (using the area rental rate as a reference).

Actual average transactions in the building are closing at a 28–37% premium to the fair “investment” range, meaning that to enter at a 7–8% yield today, a very substantial discount to the current market price per m² of the asset would be required.

6. Summary and conclusions on the asset

– Liquidity: the building has passed its main sales phase; the volume of secondary deals is low. The area is extremely liquid – hundreds of studio sales and rental contracts are concluded every quarter.
– Price dynamics: since late 2022 there has been a strong increase in studio prices per m² in the area; in the building under review, prices significantly outpace the area average.
– Yield: current ROI is around 5% at the prevailing average price, which is below the target level for “investment-attractive yield” (at least 7%).
– For owners: a sale can achieve a premium to the market, but offerings with clearly expressed investment yield are constrained by demand.
– For investors: a substantial discount (down to 22–25 thousand AED/m²) is required to achieve 7–8% yield – such deals are currently unlikely on the open market, so the asset is primarily attractive for end users or long-term holders rather than yield-focused investors.