ROI analysis of apartment in THE PAD: DLD data and real deals

1. Area definition and data structure

Actual location: According to DLD, the building THE PAD is located in Business Bay, with Business Bay as the master project. This information is confirmed directly from the DLD database: all transactions are linked to area_name_en = ‘Business Bay’ and project_name_en = ‘THE PAD’.

A total of 392 transactions for THE PAD are recorded in the database. However, using the “0-bedroom apartments” (Studio/0BR) filter, not a single deal can be found. There are no standalone studio transactions, nor is there any transaction where rooms_en is explicitly equal to ‘0’, ‘studio’, or left blank. All deals are for apartments with 1, 2, and 3 bedrooms.

Rental data for THE PAD is available (552 contracts), but as with sales, the specific “studio/0-bedroom” filter returns no rental contracts — only leases for 1, 2 and 3-bedroom apartments, as well as commercial units. In other words, in neither sales nor rentals does the asset “THE PAD, 0BR” (0-bedroom apartment) appear anywhere in DLD.

2. Liquidity and deal structure

Transaction activity in THE PAD is high: from 2020 to date, between 5 and 41 deals have been registered almost every quarter, confirming strong liquidity of the building itself and stable demand. The building trades in virtually all periods of the year, with a particularly noticeable increase in transactions in 2022–2024.

The rental picture is similar: more than 550 registered contracts for the building, but none for studios/0-bedroom units.

3. Price dynamics per m²: THE PAD vs Business Bay

For THE PAD, the dynamics of the average price per m² from 2020 to 2024 show internal volatility: from 10,500 AED/m² (2020) to a local peak of about 25,500 AED/m² (2024 Q1), followed by movement in the 20,000–23,000 AED/m² range in 2024.

Over the same period, the average price per m² in Business Bay has grown consistently: from 16,000–17,000 AED/m² in 2020 to 22,700–24,200 AED/m² in 2024 and higher in 2025.

Thus, in 2020–2021 THE PAD was priced on average 10–20% below the wider area, but in 2023–2024 the dynamics converged: the spread fluctuates within ±10% of the average market prices in Business Bay.

4. Rental rates and investment yield

A critical point: for THE PAD there is no data on studios/0-bedroom apartments either in sales or in rentals. Therefore, it is impossible to calculate the average market rent for studios in this building or the gross yield for this unit type based on DLD. Likewise, there are no figures for annual and monthly rental rates at the “building–studio” or “area–studio” level – in Business Bay, the core of DLD data is focused on 1BR+ apartments.

5. Comparison of current price levels

Over the past 12 months, the average price per m² in THE PAD has been around 22,000–23,000 AED/m², while Business Bay shows similar levels (22,700–24,200 AED/m²). This indicates full market synchronisation of THE PAD with the area: no significant premium or discount to Business Bay is observed.

It is not possible to accurately calculate rental levels and ROI for studios based solely on DLD data, as no contract or transaction for them has been registered. Without confirmed actual rental rates for the area or the building, any yield estimate for 0BR would be speculative and would contradict the analysis guidelines.

6. Brief conclusions for the investor

– Liquidity in THE PAD is high, with a stable volume of transactions and a gradual price increase over the past 3–4 years (the trend roughly mirrors the average for Business Bay).
– For studios (0-bedroom apartments), there are no recorded sales or rental contracts in DLD for this project.
– Investment analysis specifically for 0BR (studios) in this building is not feasible, as there is no confirmed DLD data on market volume and rental levels.
– Overall, across the entire building THE PAD, price levels are already on par with Business Bay; there are no signs of a unique premium or discount.
– To assess the prospects of the asset or make a decision, it makes sense to rely on analytics for 1BR and larger units or on area-wide benchmarks for comparable properties, but not on studios in this building.

7. 3–5 year outlook

THE PAD is integrated into the structure of Business Bay and fully correlates with it in terms of price and liquidity. In the absence of studio transactions, no investment conclusions can be drawn for 0BR. The area and the project as a whole remain liquid, with a positive demand trend.