THE SPIRIT
MatureDeveloperFIRST HOMES LIMITED
CommunityDubai Sports City
AreaAl Hebiah Fourth
Started
17 years ago28-12-2008
Handover
13 years 4 months ago29-08-2012
Status
CompleteFinished
Project Description
Freehold serviced residential building development located in Dubai Sports City, the building is designed to have 3B+G+20 floors. The building is being constructed as a concrete structure with external and internal finishes.
Performance Alpha
Sales Performance
Market Sales: Last 90Dvs Last 12M Baseline
Falling-58%Decline
Current:AED 508/sqft
Last 12M:AED 1,214/sqft
Momentum: Last 12Mvs Prior Year
Falling-17%Decline
Last 12M:AED 1,214/sqft
Prior Year:AED 1,463/sqft
Community Compare: Last 90DDubai Sports City
Discount-67%Below Avg
Project:AED 508/sqft
Community:AED 1,519/sqft
Liquidity: Last 12MExit Speed
Low6%Turnover
24Sold (Last 12M)
Rental Performance
Rent Pricing: L12MPer Sqft / Year
AED 1,239/sqft
Range:AED 561 – AED 59K
Avg Unit:AED 50K/yr
Leasing Volume: L12MContracts Signed
Very Active311Total
New:105
Renew:206
Tenant RetentionRenewal Rate
Excellent66%renewals
34% new tenants66% renewals
Gross YieldAnnual Return
High Yield243.9%Yield
Rent:AED 1,239/sqft
Price:AED 508/sqft
Supply & Demand Matrix
THE SPIRIT averaged 6% liquidity over the last 12 months, which is considered low. High velocity indicates an active secondary market with easier exit potential. Lower velocity suggests long-term holds or cooling demand.
Type
Absorption (L12M)
Velocity
Studio
312 units
19 sold293 left
6%
Velocity
1 Bedroom
74 units
5 sold69 left
7%
Velocity
Layouts & Units (386)
| Asset Class | Inventory | Size Range | Price Range | Avg PSF | Sales | Trend | |
|---|---|---|---|---|---|---|---|
Asset Class Studio FlatPodium + Floors 1-18 | Inventory 312units 61 layouts · Typically 1 parking 3-17 sqm balcony | Size Range 3-703sqft | Price Range AED 564 - AED 1.8M | Avg PSF 2,133 | Sales 409 | Trend — | |
Asset Class 1 Bed FlatPodium + Floors 1-18 | Inventory 74units 11 layouts · Typically 1 parking 6-12 sqm balcony | Size Range 376-848sqft | Price Range AED 200K - AED 2.3M | Avg PSF 1,594 | Sales 94 | Trend — | |
Asset Class Building | Inventory 0units | Size Range 45,236-45,236sqft | Price Range AED 16.7M - AED 56.3M | Avg PSF 807 | Sales 2 | Trend — | |
Asset Class Land | Inventory 0units | Size Range 321-371sqft | Price Range — | Avg PSF 10,888 | Sales 0 | Trend — |
Grouped into 4 asset classes covering 386 units