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1. Definition of the area and data structure
Actual location: ROVE HOME RESIDENCES by IRTH is located in the Burj Khalifa area, within the DownTown Dubai master project (as defined by DLD data, where transactions for this building are recorded). The analysis is based on the 1-bedroom apartment (1BR) segment.
The building has shown substantial transaction activity since 2023: 148 sales of 1BR units since 2023. It should be noted that there are no registered rental contracts for 1-bedroom apartments in this building, nor at the DownTown Dubai master-project level, in the DLD database over the past 12 months. Therefore, a number of key rental and yield metrics had to be calculated at the Burj Khalifa area level.
2. Sales dynamics. Comparison with the area
Transactions for ROVE HOME RESIDENCES by IRTH (1BR) started actively in Q4 2023, with a peak in Q1 2024. In total, 58 1BR transactions have been recorded in the building over the past 12 months.
The average price per m² (price_psm) in the building over the past 12 months (for 1BR) is 37,127 AED. The dynamics show that this high level is being maintained in 2024–2025: quarterly values over the last year range from 33,659 to 38,559 AED/m².
For comparison, the average price per m² in the Burj Khalifa area over the same period for a comparable segment (apartments 30–150 m²) is 26,482 AED, which is 29–40% lower than the price per square meter in ROVE HOME RESIDENCES. Over the past 5 years, the area (Burj Khalifa) has shown a smooth increase in the average price from 14,500–19,000 AED/m² in 2021 to 23,000–26,500 AED/m² in 2024–2025, while ROVE HOME RESIDENCES immediately entered the market at a premium level above the area average.
3. Rental dynamics and levels
According to the DLD data export, there have been no rental contracts for 1-bedroom apartments over the past 12 months either in this building or at the DownTown Dubai master-project level. There is, however, rental data at the Burj Khalifa area level: the average annual rental rate per m² over the past 12 months is 1,585 AED (all residential apartments were considered, with filtering by size and price applied and outliers accounted for).
The area demonstrates a stable increase in rental rates: from 1,000–1,100 AED/m² in 2021–2022 to 1,440–1,585 AED/m² in 2024–2025. This indicates an upward trend in both demand and rental rates.
4. Current levels, yield and investment perspective
In terms of pricing, ROVE HOME RESIDENCES significantly outperforms the Burj Khalifa area: the average purchase budget is 40% higher than the area’s market average.
At the same time, since there are no actual rental contracts for the building, yield (ROI) can only be calculated at the Burj Khalifa area level:
– Average purchase price in the area over the last 12 months: ~26,482 AED/m².
– Average rent in the area over the last 12 months: ~1,585 AED/m²/year.
Based on these figures, the gross yield in the area (ROI_brutto) is ≈ 6.0% per annum. Adjusting for typical entry costs (7–8% of the purchase price, commissions, etc.), the net yield (ROI_net) for an investor buying at market price in the area is around 5.6% per annum.
For premium projects where the purchase price is 30–40% above the Burj Khalifa market (as in ROVE HOME RESIDENCES), the potential ROI is estimated using the area’s average yield — meaning that at current market prices in the building, the yield will be lower: around 4–4.5% per annum before costs. To target a yield of 7–8% per annum, the “investment fair” purchase price range for the area would be 19,800–22,700 AED/m² (calculated using the formulas rent_psm / 0.08 and rent_psm / 0.07). The current price level in ROVE HOME RESIDENCES is approximately 60–85% above this range.
5. Conclusions on liquidity and investment prospects
In terms of 1BR sales, liquidity at ROVE HOME RESIDENCES is excellent — transaction volume is substantial, and the project is attracting buyers, potentially both end-users and investors. However, the significant price premium to the area means that an investor focused on long-term leasing will achieve a yield noticeably below the “market norm” for Burj Khalifa.
Overall, as seen from DLD dynamics, the Burj Khalifa area has remained a zone of growing demand for both rentals and sales over the past 3–5 years. Premium buildings in the very heart of Downtown retain their liquidity, but their entry cost increasingly outpaces their income potential when compared with typical residential stock in the area.
For ROVE HOME RESIDENCES there is currently no confirmed market rental data from DLD for 1BR units, so the long-term yield of this particular building for landlords remains uncertain. It is advisable to rely on area-level yield benchmarks and to factor in that the actual ROI at the current purchase price in this building will be significantly below the investor target of 7–8% per annum.
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