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1. Area definition and data structure
Actual location: According to DLD, “Samana Waves” is a building registered in the Al Barsha South Fourth area and belongs to the Jumeirah Village Circle (JVC) master project.
2. Deal volume and structure
According to DLD databases, from April 2022 to December 2025, 107 studio (0BR) transactions were registered in Samana Waves, property type — apartment (Flat), use — residential. Transactions are recorded on a regular basis without long pauses, which indicates high liquidity in this respect.
3. Price dynamics in the building
The average price per square metre for studio transactions in Samana Waves has changed as follows:
- In 2022 (mainly Q2–Q3 — the main peak of registrations): 12,000–13,700 AED/m²
- In 2023 the average quarterly range was 12,500–15,600 AED/m², with the majority of deals in the 13,200–13,700 AED/m² band
- In 2024 and 2025 some volatility is observed — in 2024 the average price for a studio holds around 13,000–14,700 AED/m².
Over the last 12 months (July 2023 – June 2024), the confirmed average transaction level for studios in Samana Waves is 14,155 AED/m².
4. Comparison with the area
For a correct benchmark we use Al Barsha South Fourth (studios, residential, same period).
- Across the area as a whole, over the last 12 months the average studio price reached 17,266 AED/m² — noticeably higher than the dynamics in the building.
- Over the past two years the area has shown a significantly faster price growth (from ~10,400 to 17,200+ AED/m² in 2022–2024).
Thus, Samana Waves is currently trading at a discount versus the average market levels in the area and JVC for studios on a per-square-metre basis.
5. Rentals: building and area
According to DLD, there are still no valid rental contracts for studios directly in Samana Waves (which is typical for new off-plan projects when the building is only entering the operational phase). Therefore, it is not yet possible to build direct analytics on actual studio leasing in this building.
At the level of the Jumeirah Village Circle master project (and the area), the number of contracts is very high (30,000+ over several years). The average annual studio rent in JVC and Al Barsha South Fourth over the last 12 months is 1,255 AED/m²/year, which corresponds to the current market level.
Rental dynamics in the area:
- 2020: 590–730 AED/m²/year
- 2022: 750–820 AED/m²/year
- 2023: 950–970 AED/m²/year, reaching 1,150–1,250 AED/m² by mid‑2024
- Last year: 1,255 AED/m²/year
6. ROI and investment fairness
To calculate ROI, we focus on comparable buildings and the wider area (since there is no rental data for the building itself, we are forced to work at the area level) and use price_psm/rent_psm pairs for the last 12 months:
- Purchase price of a studio in Samana Waves — 14,155 AED/m²;
- Average annual rent in JVC: 1,255 AED/m²/year.
Gross yield:
- For the building (based on area-level rents): 1,255 / 14,155 = 8.9% gross (conditionally, assuming the building fully captures the area’s rental level, which may involve some margin of error).
- For the area: 1,255 / 17,266 = 7.3% gross.
Net yield (adjusted for entry costs of ~7%):
- For Samana Waves: 8.9% / 1.07 ≈ 8.3% (ideal case, if rents at the building are confirmed at area level);
- For the area: 7.3% / 1.07 ≈ 6.8%.
Fair price range at a target investor yield of 7–8% per annum (based on area rental rates):
- Lower bound: 1,255 / 0.08 ≈ 15,700 AED/m²,
- Upper bound: 1,255 / 0.07 ≈ 17,930 AED/m².
The actual average price in the building (14,155 AED/m²) is still below the normal fair range: if an investor achieves rents around the JVC median, the discount to the market in the purchase price remains. For studios in Samana Waves, the theoretical yield is currently above the area average and has reached 8.9% before entry costs.
7. Liquidity and outlook
- The volume of registered studio transactions in the building is very strong for a new project.
- The building is selling significantly below the area average; part of the deals are at the off-plan stage, but the transaction dynamics are solid and do not indicate sales issues.
- Studio rentals in JVC are very active, the average rate continues to grow steadily, and conditions for future landlords are attractive.
- Further growth will depend both on the overall studio supply in JVC and on the building’s transition to full operation — but at the moment, the purchase price discount offsets part of the risks.
8. Key takeaways for the investor
- The price per m² for studios in Samana Waves in recent transactions is noticeably below the area’s market average.
- There are still no actual rental contracts in the building, but in the area and the master project the rental level is high and continues to grow steadily.
- The building can be viewed as relatively undervalued for an investor, especially with a “buy-and-hold until rental launch” horizon.
- The yield potential is above the area average — a relative advantage, but the actual yield will be confirmed only after the building reaches full operational capacity.
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