ROI analysis of apartment in Westwood Grande by Imtiaz: DLD data and real deals

1. Definition of the area and data structure

Actual location: all transactions for Westwood Grande by Imtiaz are unequivocally attributed to the Al Barsha South Fourth area, master project Jumeirah Village Circle (as per the DLD_transactions table).

Data availability: 152 sale transactions for 1-bedroom apartments in the building have been recorded. There is no rental data specifically for this building or the master project; in the Al Barsha South Fourth area, however, the rental segment is well developed, with a large volume of current contracts available (over 120,000 for the entire period).

2. Analysis of sale transactions for the building and the area

Transaction frequency: most 1-bedroom apartment sales in the building took place in Q2 2023 (80 deals), after which activity dropped significantly to 1–16 deals per quarter in 2023–2024.
This is a typical profile for new buildings at the handover stage — the bulk of sales is concentrated at launch.

Dynamics of the average price per m² for the building:
– Q2 2023 — 10,697 AED/m²
– Q3 2023 — 13,215 AED/m²
– Q4 2023 — 11,893 AED/m²
– Q1 2024 — 13,501 AED/m²
– Q2 2024 — 12,419 AED/m²
– Q3 2024 — 12,092 AED/m²
– Q4 2024 — 14,367 AED/m²

The current average for the building over the last 12 months is approximately 13,900 AED/m² (transactions between June 2023 and May 2024).

Dynamics of the average price per m² for the area (Al Barsha South Fourth, 1-bedroom apartments):
– In 2020–2022 there was a gradual increase from 8,300 to 9,700 AED/m².
– From 2023 a stronger growth phase began: by mid-2024 the area average is in the 12,500–12,800 AED/m² range.
– The average price for the area over the last 12 months: 14,445 AED/m² (some premium new developments may be pushing the overall figure up).

Comment: at the moment, transactions in the building are closing at prices comparable to, or slightly below, the area average (around -4%). The building does not provide a significant price premium over the broader market, and historically, at the start of sales, prices were even slightly below the area average.

3. Analysis of rental rates

There is no rental data for the building or the master project (0 DLD contracts on record). This is typical for new buildings/projects: the first rental wave appears after actual handover and mass move-in of residents.

In the Al Barsha South Fourth area, the rental market is well developed. Average rental rates per m² (for all residential apartments), cumulative:

– Just 2–3 years ago, rents were at 600–700 AED/m² per year.
– Over the last year and a half there has been steady growth: in Q1 2023 — 745 AED/m², in Q1 2024 — 849 AED/m², in Q2 2024 — 867 AED/m² (rates across all apartments). Over the last 12 months the average is 1,040 AED/m².
– The bulk of transactions is in Studio and 1BR units; the distribution by size and rates corresponds to the affordable housing segment in JVC.

Since there is still no rental history for the building itself or for the master project, yield estimates can only be based on area-level data.

4. ROI and “fair price” at the investor’s target yield

Calculation based on the last 12 months:
– Current average purchase price in the building — about 13,900 AED/m².
– Current average purchase price in the area — about 14,445 AED/m².
– Average rental yield in the area — 1,040 AED/m²/year (no data for the building).

Rough ROI calculation for the area (gross, annual rent / purchase price): 1,040 / 14,445 = 7.2% per annum (excluding entry costs).
Adjustment to “net” yield (ROI accounting for 7% entry costs): 7.2% / 1.07 ≈ 6.7% per annum.
ROI for the building is not calculated, as there are no primary rental contracts for it in DLD.

Range of “investment fair value” for an investor targeting 7–8% per annum in the area: 1,040 / 0.08 = 13,000 AED/m² (upper bound), 1,040 / 0.07 = 14,860 AED/m² (lower bound).
Current transaction prices for both the building and the area fall within this range, with Westwood Grande by Imtiaz slightly closer to the lower boundary (i.e. a buyer can achieve a 7–8% ROI under standard rental conditions for the area).

5. Liquidity and outlook

In terms of sale transactions, the building’s liquidity is extremely high — the volume of primary sales is comparable to other JVC projects, with peaks at the launch stage. A second wave of transactions is likely after mass handover and the first successful rental cases.

On the rental side, the area market is steadily developing (strong growth in rates to 1,000+ AED/m²/year), with plenty of both buyers and tenants. Demand for smaller units is expected to remain strong in the coming years, given the strategic location of JVC and the limited pipeline of new supply.

Conclusion: the current price for a 1-bedroom apartment in Westwood Grande by Imtiaz is slightly below the area average; based on area data, ROI is 7–7.2% gross and 6.7% net — a reasonable level without the need for an additional discount versus the area. Upside potential for an investor is limited by the average growth trajectory of JVC/Al Barsha South Fourth, while the yield is in line with Dubai market conditions for this segment.