1. Definition of the area and data structure
Actual location: according to DLD, The Pulse Boulevard Apartments – C3 is located in the Madinat Al Mataar area, within the Dubai South Residential District master project. In the DLD system it is recorded as a separate building with its own transaction history.
For 2-bedroom apartments (room_filter: 2 b/r), 136 sale transactions have been recorded in this building. This provides a representative sample to analyse the dynamics of the building’s retail prices in detail.
2. Price dynamics and structure in The Pulse Boulevard Apartments – C3
Analysis of the distribution and dynamics of transactions for 2-bedroom apartments shows the following:
– Since the project’s completion in 2022, there has been a high concentration of transactions in Q2 2022 (44 deals), indicating either the end of the construction phase or a mass handover of keys. Subsequently, the number of transactions has declined, as is typical as units are gradually absorbed.
– The average price per square metre for 2-bedroom apartments in 2022 fluctuated in the range of 6,364–6,495 AED/m².
– In 2023, the price per m² increased gradually: from 7,519 to a peak of 8,391 AED/m², then, with some volatility, remained in the 7,290–8,129 AED/m² range.
– Over the last 12 months (from the current date), the average price per m² based on the latest sample stands at 8,508 AED/m² (23 transactions recorded).
3. Area benchmark for Madinat Al Mataar
The dynamics of average prices per m² across the entire Madinat Al Mataar area for 2-bedroom apartments differ significantly:
– In 2020–2022, prices were lower than in the subject building; however, from 2023 the area’s average price per m² started to rise sharply: from 8,038 AED/m² in Q1 2023 to 14,188 AED/m² in Q4 2024 and above 16,000–19,000 AED/m² in 2025.
– The average price over the last 12 months in the area for similar apartments is 17,430 AED/m² (2,740 transactions), which is more than twice the average level in the selected building.
4. Rental rates and yield
For The Pulse Boulevard Apartments – C3 itself and its master project, there are no active rental contracts for 2-bedroom apartments recorded in the DLD database for recent periods (which is expected for a new residential complex at the handover phase).
However, in Madinat Al Mataar as a whole (without filtering by apartment type) there is a large volume of rental contracts: more than 8,200 over the last 12 months.
The average annual rental rate per m² in the area (all types of residential apartments, since there is nothing to filter by specifically for 2-bedrooms) is 851 AED/m² per year over the last 12 months. The rental rate dynamics also show rapid growth: while in the first half of 2022 the average rate fluctuated in the 440–490 AED/m² range, from the end of 2023 it has exceeded 700 AED/m², and in recent quarters has been consistently in the 800–930 AED/m² range.
5. Yield (ROI): benchmarks and comparison
For The Pulse Boulevard Apartments – C3, an accurate calculation of gross yield is not possible, as there is not a single confirmed rental in DLD for this address or the master project. Accordingly, it is not possible to correctly calculate the building’s ROI.
For the wider area (Madinat Al Mataar, any residential apartments), the indicative gross yield looks as follows:
– average purchase price in the area over the year — 17,430 AED/m²,
– average rent — 851 AED/m²/year,
– gross annual yield: around 4.9% per annum (calculation: 851 / 17,430).
– Taking into account initial transaction costs on entry (~7–8% on top of the purchase price), the net yield will fall to about 4.5–4.6% per annum.
An estimate of the fair price range for an investor targeting 7–8% per annum based on current area rental rates is 10,638–12,157 AED/m².
Comparison with the area market:
– Actual average sale price in the area over the year — 17,430 AED/m²,
– to achieve a 7–8% annual yield, a substantial discount to current market prices is required (30–40% below).
6. Comparison: building vs area
Over the last 12 months, apartments in The Pulse Boulevard Apartments – C3 have been selling on average more than 50% cheaper than the wider area market (8,508 AED/m² versus 17,430 AED/m²). It can be concluded that this asset was either launched by the developer below the prevailing market level at the time of mass entry, or that the area is dominated by more expensive buildings and apartment complexes.
At current parameters, rental yield across the area is below 5% gross per annum. For newly delivered buildings and new residential complexes, yields may be slightly higher, but the large volume of new contracts may adjust rental rates in the near term.
7. Liquidity, outlook and conclusion
Liquidity of units in The Pulse Boulevard Apartments – C3 is good: 23 transactions were completed over 12 months, against the backdrop of intense activity at the handover/absorption stage. Madinat Al Mataar as a whole shows strong demand, with thousands of sales and rental deals per year.
Over the past 2 years, prices in the area have more than doubled, while rents have almost doubled. However, the current price level makes achieving a 7–8% yield in the area impossible without a deep discount to market.
For a yield-focused buyer, a fair purchase price in the area today should be 30–40% below typical asking levels, or one must expect a significant further increase in rents. The Pulse Boulevard Apartments – C3 itself appears more balanced in this context at the entry stage, but due to the absence of confirmed DLD rentals, it is not possible to formalise a building-specific yield.
Recommendation: the building remains attractive for buyers who are counting on capital appreciation driven by its current price lagging behind the broader area level. For purely investment-driven purchases targeting income, it is essential to closely monitor the dynamics of both rental rates and asking prices across residential complexes in Madinat Al Mataar.
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