EMPIRE HEIGHTS
MatureDeveloperGPD INVESTMENTS SPV ONE LIMITED
CommunityBusiness Bay
AreaBusiness Bay
Started
17 years 10 months ago01-03-2008
Handover
14 years 9 months ago25-04-2011
Status
CompleteFinished
Project Description
Freehold commercial development located in Business Bay. The project consisting of two towers (16 storey each) constructed on a shared 4B+G+3P. The project designed to be constructed as a concrete structure with external and internal finishes. The office units will be handed over as ?core and shell? to be individually fitted by their respective owners.
Performance Alpha
Rent Pricing: L12MPer Sqft / Year
AED 1,270/sqft
Range:AED 38 – AED 4K
Avg Unit:AED 22K/yr
Leasing Volume: L12MContracts Signed
Very Active3,217Total
New:1968
Renew:1249
Tenant RetentionRenewal Rate
Low2%renewals
98% new tenants2% renewals
Gross YieldAnnual Return
High Yield67.4%Yield
Rent:AED 1,270/sqft
Price:AED 1,884/sqft
Supply & Demand Matrix
EMPIRE HEIGHTS averaged 29% liquidity over the last 12 months, which is considered high. High velocity indicates an active secondary market with easier exit potential. Lower velocity suggests long-term holds or cooling demand.
Type
Absorption (L12M)
Velocity
Shop
17 units
2 sold15 left
12%
Velocity
Office
204 units
63 sold141 left
31%
Velocity
Layouts & Units (221)
| Property Type | Contracts (L12M) | Size Range | Rent Range (PSF) | Avg Rent/Sqft | Avg Annual | |
|---|---|---|---|---|---|---|
Property Type Officeoffice | Contracts 995 | Size Range 111-233sqft | Rent Range 38-3,666 | Avg Rent/Sqft 1,238AED | Avg Annual AED 23K | |
Property Type Shopretail | Contracts 5 | Size Range 133-570sqft | Rent Range 962-3,008 | Avg Rent/Sqft 1,901AED | Avg Annual AED 573K |
1,000 rental contracts grouped into 2 property types