ROI analysis of apartment in Sonate Residences by Condor: DLD data and real deals — 13.12.2025

1. Definition of the area and data structure

Actual location: According to DLD, the building Sonate Residences by Condor belongs to the Al Barsha South Fifth area, master project Jumeirah Village Triangle.
The DLD database records 164 transactions for this project, 14 of which are studios (0BR) over the last 12 months. There is no direct rental data for the building; analysis is only possible at the master-project and area level.

2. Transaction dynamics and liquidity

The active phase of registrations for Sonate Residences by Condor falls in 2024–2025: 118 sales in 2024 and 44 in 2025 (contracts are recorded with a certain lag relative to project handover).
The number of transactions indicates solid demand within the new development.

Across Al Barsha South Fifth as a whole, thousands of transactions are registered annually: over the last four quarters there have been more than 5,500 sales, which points to high liquidity in this segment.

3. Dynamics of the average price per square metre

Sonate Residences by Condor (studios):
– The average price per square metre for studios over the last 12 months is 17,274 AED/m² (based on 14 DLD transactions).
– The range of quarterly averages is from 15,700 to 18,200 AED/m² for studios in Q2 and subsequent quarters of 2024 and early 2025.
– A positive trend is visible as the project progresses: average prices increase in later periods.

Area (Al Barsha South Fifth):
– Over the last 12 months, the average price of transacted apartments is 15,767 AED/m² (based on 5,580 transactions).
– Quarterly dynamics show steady growth: from 13,500–14,200 AED/m² at the beginning of 2024 to 15,100–17,500 AED/m² for transactions in the second half of 2024 and 2025.
– The area-wide data covers a broad range of properties, which explains the significant spread in prices and averages.

Comparison: Sonate Residences by Condor is being sold at a premium of around 10% to the area average for studios.

4. Rental market analysis and yield

There are no registered lease contracts for Sonate Residences by Condor in DLD, which is typical for new and under-construction properties.
Switching to the Jumeirah Village Triangle master project and the Al Barsha South Fifth area allows us to estimate market yields:

– The average rental rate per m² for area contracts over the last 12 months is about 941 AED/m²/year (2,934 contracts).
– For the Jumeirah Village Triangle master project, the comparable level is 937 AED/m²/year (2,628 contracts).
– Rental dynamics in the area show steady growth: from 700–800 AED/m²/year at the beginning of 2024 to 950–1,050 AED/m²/year by the end of 2025 for new contracts.

5. ROI and investment fair value

– Gross yield for the area (calculated using 12‑month averages): ROI ≈ 941 / 15,767 = 6.0%.
– At the building level, ROI is not calculated because there are no registered lease contracts — only the area-level benchmark can be used.
– Taking into account standard cost ratios (entry costs of about 7–8% of the property value: DLD fees, brokerage, service charges), net yield (ROI net) for the area is approximately 5.5–5.6% per annum.
– To achieve a 7–8% annual yield, the fair price for an investor based on DLD data is 11,800–13,400 AED/m² (calculation: 941 / 0.08 and 941 / 0.07). The current average price in the building is above this “investor” threshold, which implies either potential rental growth in the future (as new buildings are occupied) or the need for a discount to realistically reach 7–8% per annum today.

6. Liquidity, outlook, conclusions

Sonate Residences by Condor is part of the actively developing Al Barsha South Fifth area and the Jumeirah Village Triangle master project.
Demand for new apartments is stable, and the transaction volume in the area is high.
The property is being sold at a premium to area averages, which is typical for new concept-driven projects.
Entry yields at current prices are at a moderately low level for the Dubai market (5.5–6% net–gross), which is common for new properties at the peak of interest.
The fair investment price level for a target yield of 7–8% is 15–25% below current market levels — either the market is pricing in further rental/capital growth, or there is room for negotiating a discount.

The ROI and rental figures are based on averaged area indicators from the DLD database, not on theoretical estimates.

The sample is large and up to date. Without actual lease contracts for the building itself, any yield forecasts for Sonate Residences by Condor remain indicative.