IRIS BAY
ResaleDeveloperSHETH ESTATE (INTERNATIONAL) LIMITED
CommunityBusiness Bay
AreaBusiness Bay
Started
18 years 2 months ago18-11-2007
Handover
10 years 10 months ago01-03-2015
Status
CompleteFinished
Project Description
Freehold commercial tower development in Dubai Business Bay. The building is designed and constructed as 3B+G+4P+33. The tower is being constructed out of concrete structure and block with internal and external 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 1,544/sqft
Range:AED 98 – AED 4K
Avg Unit:AED 24K/yr
Leasing Volume: L12MContracts Signed
Very Active4,660Total
New:1950
Renew:2710
Tenant RetentionRenewal Rate
Low3%renewals
97% new tenants3% renewals
Gross YieldAnnual Return
High Yield82.2%Yield
Rent:AED 1,544/sqft
Price:AED 1,879/sqft
Supply & Demand Matrix
IRIS BAY averaged 22% 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
4 units
3 sold1 left
75%
Velocity
Office
198 units
41 sold157 left
21%
Velocity
Layouts & Units (202)
| Property Type | Contracts (L12M) | Size Range | Rent Range (PSF) | Avg Rent/Sqft | Avg Annual | |
|---|---|---|---|---|---|---|
Property Type Officeoffice | Contracts 1,000 | Size Range 92-217sqft | Rent Range 98-3,838 | Avg Rent/Sqft 1,698AED | Avg Annual AED 21K |
1,000 rental contracts grouped into 1 property types