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1. Definition of the area and data structure
Actual location: According to DLD data, TOPAZ RESIDENCES 1 is located in the Nadd Hessa area within the Silicon Oasis master project. All subsequent benchmarks and comparisons are based strictly on these administrative units, as confirmed by the DLD sales database.
There have been around 106 transactions in this building over the entire period, which allows for project- and area-level market conclusions for this asset. Specifically for two-bedroom apartments (2BR), there have been no transactions over the last 12 months, which limits the depth of unit-level analysis. However, a reliable analysis at the building and area level is still possible.
2. Purchase price dynamics and levels
For 2BR units in TOPAZ RESIDENCES 1, there have been no transactions recorded in DLD over the last 12 months, so we have to rely on the full volume of sales in the building.
The dynamics of the average price per square meter in TOPAZ RESIDENCES 1 over the past 3–4 years are as follows:
— In 2021 and early 2022, the average price per m² was in the range of 5,800–6,800 AED/m².
— In 2023, the level increased to 7,100–7,500 AED/m².
— In the first half of 2024, the average price was about 7,500–7,600 AED/m².
— Subsequently, there were a few isolated transactions at abnormally high prices, but for the purposes of analysis we use only periods no later than the current date.
For comparison, in Nadd Hessa (under a similar filter):
— Over the last 12 months, the average price on the secondary market was about 14,887 AED/m².
— In the Silicon Oasis master project — 14,450 AED/m².
Thus, TOPAZ RESIDENCES 1 consistently trades below both Nadd Hessa and the Silicon Oasis master project (over the last 12 months the gap exceeds 45%, at around 7,500 vs. 14,450–14,887 AED/m²).
3. Liquidity and transaction distribution
The DLD database shows a large number of transactions in TOPAZ RESIDENCES 1, confirming high project liquidity and steady market interest. For two-bedroom units there have been no recent deals, which may reflect either the specific unit mix of the building (few 2BRs) or a local imbalance of supply/demand for this format.
Overall, transactions across the area are stable, and the price range by area/project is sufficient for comparative analysis.
4. Rental market and yield
According to DLD, rental contracts have been recorded in TOPAZ RESIDENCES 1 over the last 12 months, allowing us to calculate the actual average annual rental rate per square meter:
— In the building itself, the average rental rate based on valid contracts is about 817 AED/m² per year.
— In the Silicon Oasis master project — about 736 AED/m².
— In Nadd Hessa — a similar level of 736 AED/m².
Thus, TOPAZ RESIDENCES 1 rents slightly above the average rental levels for both the area and the master project.
5. Level comparison, ROI and fair price range
Comparison of current purchase and rental levels:
— Actual purchase price level in the building — about 7,500 AED/m².
— Actual rent in the building — 817 AED/m².
— In the area, comparable units sell for 14,500–14,900 AED/m² with rents at 736 AED/m².
Gross yield calculation (ROI, roughly, before expenses):
— For the building: gross yield is approximately 10.9% (817/7,500).
— For the area: gross yield is only 4.9–5.1% (736/14,887 or 736/14,450).
Adjusting for transaction costs (7–8% on entry) reduces ROI to about 10.1% for the building (817/(7,500*1.08)).
Accordingly, TOPAZ RESIDENCES 1 can theoretically deliver a yield significantly above the average for the area and for Dubai — and the discount in purchase price relative to the area benchmark is very substantial.
The fair “investment” price range, targeting a 7–8% ROI, provides a significant buffer: for the current rent of 817 AED/m², the price at which a 7–8% yield is achieved lies in the range of 10,200–11,670 AED/m². The current average price in the building (7,500 AED/m²) is far below this range, meaning the yield premium is substantial (or rents in the building are indeed noticeably higher than the area/master-project average).
6. Conclusions and outlook
TOPAZ RESIDENCES 1 stands out against Nadd Hessa and the Silicon Oasis master project due to its pronounced price attractiveness on the purchase side (on average 40–50% below the area level). At the same time, actual rents per DLD are even slightly above the market average, resulting in an exceptionally high calculated ROI (10–11% gross), which is hard to find among completed residential buildings in Dubai.
Liquidity in the building is confirmed by the large number of closed transactions, although in the 2BR segment there has been no activity over the past year (possibly due to the unit mix or saturated demand).
The current price range in the building is highly attractive for an investor targeting a high ROI and relatively fast payback, assuming conservative rental rate projections. There is a substantial buffer to maintain a 7–8% “market” yield for the local market — even if rents soften slightly, the investment case remains strong.
The investment outlook for TOPAZ RESIDENCES 1 at current prices is positive, although potential upward price adjustments in the future may narrow this gap. For a more targeted assessment of demand trends for 2BR units, it is advisable to additionally collect data on other projects in the area and, if necessary, on comparable buildings in Silicon Oasis.
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