MAG EYE Phase 1
ResaleDeveloperMAG EYE REAL ESTATE DEVELOPMENT - FZ
Started
7 years 8 months ago01-05-2018
Handover
1 year 5 months ago16-08-2024
Status
CompleteFinished
Project Description
8X (B+G+8+R) Residential Building & 694 townhouses G+1.The project designed to have a concrete structure and block with internal and external finishes.
Performance Alpha
Sales Performance
Blended: Last 90Dvs Last 12M Baseline
Stable0%Growth
Current:AED 1,827/sqft
Last 12M:AED 1,831/sqft
Momentum: Last 12Mvs Prior Year
Stable0%Growth
Last 12M:AED 1,831/sqft
Prior Year:AED 1,836/sqft
Community Compare: Last 90DHADAEQ SHEIKH MOHAMMED BIN RASHID - DISRICT 7
At Market+1%Above Avg
Project:AED 1,820/sqft
Community:AED 1,803/sqft
Liquidity: Last 12MExit Speed
High20%Turnover
182Sold (Last 12M)
Rental Performance
Rent Pricing: L12MPer Sqft / Year
AED 1,357/sqft
Range:AED 14 – AED 14K
Avg Unit:AED 117K/yr
Leasing Volume: L12MContracts Signed
Very Active929Total
New:720
Renew:209
Tenant RetentionRenewal Rate
Fair22%renewals
78% new tenants22% renewals
Gross YieldAnnual Return
High Yield74.3%Yield
Rent:AED 1,357/sqft
Price:AED 1,827/sqft
Supply & Demand Matrix
MAG EYE Phase 1 averaged 17% liquidity over the last 12 months, which is considered moderate. 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
600 units
78 sold522 left
13%
Velocity
1 Bedroom
296 units
44 sold252 left
15%
Velocity
2 Bedrooms
8 units
36 sold-28 left
450%
Velocity
Layouts & Units (904)
| Asset Class | Inventory | Size Range | Price Range | Avg PSF | Sales | Trend | |
|---|---|---|---|---|---|---|---|
Asset Class Studio FlatFloors 1-8 | Inventory 600units 50 layouts · Typically 1 parking 7-12 sqm balcony | Size Range 194-471sqft | Price Range AED 290K - AED 924K | Avg PSF 1,475 | Sales 116 | Trend — | |
Asset Class 1 Bed FlatFloors 1-8 | Inventory 296units 30 layouts · Typically 1 parking 6-22 sqm balcony | Size Range 745-909sqft | Price Range AED 894K - AED 1.6M | Avg PSF 1,381 | Sales 60 | Trend — | |
Asset Class 2 Bed FlatFloors 1-8 | Inventory 8units Typically 1.6 parking ~19 sqm balcony | Size Range 1,268-1,268sqft | Price Range AED 2.2M - AED 2.2M | Avg PSF 1,325 | Sales 1 | Trend — | |
Asset Class Land | Inventory 0units | Size Range 37,565-57,462sqft | Price Range AED 10.4M - AED 10.8M | Avg PSF 244 | Sales 4 | Trend — | |
Asset Class 3 Bed Villa | Inventory 0units | Size Range 176-3,519sqft | Price Range AED 2.0M - AED 4.6M | Avg PSF 1,357 | Sales 41 | Trend — | |
Asset Class 2 Bed Villa | Inventory 0units | Size Range 475-1,474sqft | Price Range AED 888K - AED 3.4M | Avg PSF 1,425 | Sales 90 | Trend — | |
Asset Class 4 Bed Villa | Inventory 0units | Size Range 1,569-5,064sqft | Price Range AED 4.8M - AED 6.5M | Avg PSF 991 | Sales 10 | Trend — |
Grouped into 7 asset classes covering 904 units