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1. Definition of the district and data structure
Actual location: based on the DLD register, the Skyscape Avenue building is located in the Bukadra district. No alternative master projects at this address were found in the database.
Verification of the data structure and volume for Skyscape Avenue:
– There are no transactions with studio apartments (0BR) in the DLD, neither via the studio filter nor by any other criteria. The database for the building records only 1-, 2- and 3-bedroom transactions.
– Over the past 12 months, 209 transactions have been recorded for the building (all apartment types).
– There are currently no rental contracts for the Skyscape Avenue project in the DLD, which is often the case for new/under‑construction properties.
– To analyse market rental rates and yields, it was necessary to rely on the entire Bukadra district.
2. Transaction and price dynamics for apartments
Sales at Skyscape Avenue:
– Peak activity occurred in Q4 2024 (207 registrations), followed by a gradual slowdown.
– The average transaction price per square metre in Q4 2024 was about 25,900 AED/m²; thereafter, throughout 2025, the average level remains stable in the 25,600–26,000 AED/m² range.
– The dynamics and sales volumes across Bukadra confirm large‑scale construction (tens of thousands of registered transactions over the past 2 years).
Comparison with the district:
– The weighted average price per square metre in Bukadra over the past 12 months is 26,034 AED/m² versus 25,886 AED/m² for the building itself. The difference is around 0.5%; the building is priced strictly in line with the district market.
3. Market rental rates
There are no rental data for Skyscape Avenue — not a single registered rental transaction in the DLD database. This is typical for projects under construction or due to a delay in tenant uptake.
In Bukadra, 97 rental contracts have been recorded over the past 12 months with valid parameters (residential property, area >10 m², annual rent >1,000 AED).
– The average district rental rate is 624 AED/m² per year.
– The dynamics of average rents in Bukadra are stable, with recent quarterly values in the 586–655 AED/m² range.
4. Yield assessment and “fair” price
ROI (gross yield, brutto):
– It is impossible to calculate ROI for Skyscape Avenue, as there is not a single DLD rental contract for this project.
– For Bukadra, the indicative brutto ROI is 624 / 26,034 ≈ 2.4% per annum based on 2023–24 market transactions.
Net ROI (ROI_net, taking into account all transactional costs of 7–8% at entry) for the district decreases to 2.2–2.3% per annum.
This is due to the fact that in the mass segment of new districts (off‑plan + handover), sale prices are very high relative to rents.
Fair price range to achieve a 7–8% annual yield at the current rental level:
– Bukadra district: 624 / 0.07 = 8,915 AED/m² (target for 7%), 624 / 0.08 = 7,800 AED/m² (for 8%).
The current transaction level (26,000 AED/m²) exceeds this range by 3–3.5 times, so there is no question of any “market investment fairness”. For an investor‑owner, such assets are justified only for personal use or speculative resale.
5. Liquidity and outlook
– Liquidity at Skyscape Avenue is extremely high: more than 390 registered transactions, with the main volume in 2024–25.
– The Bukadra district demonstrates strong mass demand, highlighted both by sales volumes and the growing number of rental contracts.
– Sale prices have stabilised on a plateau; there is no emotional surge or decline.
– Rental yields at current price levels are extremely low, and economically the asset is justified only for own use or for quick resale ahead of rental market growth.
Summary for an investor: Skyscape Avenue fully matches the average price level of Bukadra, is extremely liquid in terms of sales, but current rental yields do not meet the investment threshold even for a conservative investor (real ROI for the district is about 2.4% brutto). To reach 7–8% per annum, the entry price for such an apartment would need to be three times lower than it is now.
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