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1. Area definition and data structure
Actual location: according to DLD, the building Seascape – Building 4 (this is the name under which transactions are recorded in the registry) is part of the Seascape project and the Mina Rashid master project. The district in DLD classification is Madinat Dubai Almelaheyah.
For sales, numerous transactions were found directly for the requested building for 1-bedroom layouts (1 b/r). A total of 158 transactions are registered for this building, most of which fall in 2023.
For lease contracts, there are no contracts linked directly to this building or even to the Seascape project or the Mina Rashid master project. It was necessary to move up to the level of the entire Madinat Dubai Almelaheyah district, for which more than 8,000 actual rental contracts have been collected with filters for residential apartments. It should be borne in mind that such aggregates are applicable only for very broad comparative analysis and do not characterise this particular building or even the Mina Rashid complex.
2. Sales dynamics and liquidity analysis for the building
– Transaction frequency for Seascape – Building 4 (1 bedroom):
– 2023: 83 transactions
– 2024: 6 transactions (to date)
– 2025: 8 transactions (for future periods, most likely off-plan reservations)
– Dynamics of average price per square metre (for 1-bedroom units, quarterly):
– In 2023, the level was fairly stable at 19,300–19,600 AED/m²
– In 2024, fluctuations are in the range of 19,600–21,300 AED/m², with an average over the last 12 months of 20,934 AED/m²
– The number of transactions per quarter is small, which limits the accuracy of quarterly averages
– Across the entire Mina Rashid master project, transaction activity and price dynamics are significantly stronger:
– The price per m² has shown accelerated growth starting roughly from 2023 (from about 19,600 to 29,000 AED/m² by the current period)
– The average price for the master project over the last 12 months is 29,140 AED/m², i.e. roughly 39% higher than the actual price level for Seascape – Building 4 (1 bedroom)
3. Rental market analysis
– For Seascape – Building 4 and the Mina Rashid master project, there are no valid rental contracts in DLD.
– For Madinat Dubai Almelaheyah over the last 12 months, the average actual rental rate for all residential apartments amounted to 1,559 AED/m² per year (based on 1,757 actual contracts).
– It should be remembered that rental levels for new waterfront projects (such as Mina Rashid/Seascape) may be higher than the district average, so this figure is more of a guideline than a fair rate for premium properties.
– Rental dynamics in the district have been volatile, with quarters showing strong deviations (up to non-representative rental spikes in certain periods), which is likely related to the varying structure of properties.
4. ROI, fair price range, investment assessment
– For Seascape – Building 4, 1-bedroom units:
– The current average sale price level per m² is about 20,934 AED over the last 12 months (actual transactions).
– There are no rental data for this specific asset, so calculating ROI for this building is not possible based on DLD data.
– For Madinat Dubai Almelaheyah:
– The average rental rate is 1,559 AED/m²/year, but the average sale price for the district is unknown due to a wide spread (aggregated sales data for the district as a whole are not provided). For the Mina Rashid project, it is 29,140 AED/m² (as specified above).
– The gross yield for the district, if using district-wide averages, is: 1,559 / 29,140 = 5.3% per annum (excluding transaction costs).
– Net yield (taking into account entry costs of about 7–8%) will be significantly lower, around 4.9–5.0% per annum.
– To achieve a yield of 7–8% per annum at an average rent of 1,559 AED/m², an investor needs to enter at a price of 19,489–22,271 AED/m².
– The actual price in Seascape – Building 4 (20,934 AED/m²) lies in the middle of this range.
– Across Mina Rashid as a whole, the average transaction price is significantly above this range, which is indicative of premium new projects and implies lower yields compared with traditionally rental-focused districts.
5. General conclusions
– For Seascape – Building 4 there is stable investor demand (mass transactions at the project launch stage), but liquidity on the secondary market is still limited by the number of actual deals outside the first sales wave.
– The pace of price growth for the building/project is significantly lower than for the Mina Rashid master project as a whole, which may indicate a different deal structure or market entry strategy (prices for the building remain 35–40% below the project-wide average).
– There is still no rental information in DLD for the master project (the properties are too new), and there is a risk of a prolonged period of rental market formation.
– Investments at the current price levels for the building, given achievable market rents, are likely to deliver around 7–7.5% gross yield, which corresponds to the lower bound of the fair price range for the district.
– For yield-focused investors, the gap between Seascape – Building 4 and the more “expensive” apartments in new Mina Rashid buildings may be significant.
– Bottom line: the asset is attractive as an investment on the back of district growth, but in terms of yield, based on available DLD rental contracts, it does not significantly outperform district averages. Actual rental returns can only be assessed once representative rental statistics emerge specifically for the building or the master project.
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