Realiste, the UAE's leading artificial intelligence company, has announced the top three most profitable areas in Dubai in terms of rental yield, according to its AI-powered platform, 'Index.' The data reveals that the Hessyan First Part 2 district comes out on top, with an average property price of 550,000 AED and a rental yield of 8.3 percent, offering investors a return of 45,650 AED per year.

The Al Thanyan First area also made it onto the list, with an average property price of 1,050,000 AED and a rental yield of up to 7.8 percent, which could provide owners with a return of approximately 81,900 AED per year.

Completing the list is Jabal Ali Industrial Second Part 1, where real estate prices average at 825,000 AED. Investors can expect an annual rental yield of up to 7.6 percent, resulting in a potential return of 62,700 AED per year.

These areas have been identified as the most lucrative for rental income, providing a great opportunity for investors to maximize their returns, stated Founder and CEO of Realiste Alex Galtsev: ‘ With Realiste's innovative AI technology, investors can now make informed decisions and invest in areas that are most likely to yield higher returns.’

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About ‘Index’

Realiste launched ‘Index’ in March 2023. That is an AI-powered product for smartphones. It is designed to streamline the real estate investing process and accelerate the growth of the property market in the MENA region.

With 'Index,' users can access comprehensive information on the top locations in a city of their interest,  including average prices for both units and square footage, rent rates, number of properties available on the market, average exposure times for listings, and more. 

This tool also identifies the best off-plan buildings, complete with ROI forecasts and future appreciation rates for the next three years. Furthermore, ‘Index' ranks properties based on various parameters, such as the top projects for rental income and those projected to appreciate quickly, and allows users to filter offerings by cost, size, building floors, and other factors. Additionally, Unlike existing property boards, this tool allows purchasing off-plan properties online directly from developers within seconds. 

About ‘Realiste’

Realiste is a proptech startup that develops AI-powered products for real estate investing. The company’s goal is to build the first real estate exchange that can help to identify the most profitable options in the market, allow purchase online within seconds directly from developers, and manage all the purchased assets in one place.  In 2022, it was recognized as the leading artificial intelligence company in the UAE. 

Realiste aims to revolutionize the real estate market in the MENA region by increasing its transparency and accessibility for investors worldwide. The company is confident that its AI-driven products can benefit not only the property investors but all parties involved, including government, property investors, construction companies, and banks, by streamlining and accelerating property deals.

The company’s headquarters are located in Dubai. Overall, Realiste covers over 20 cities, including London, New York, Riyadh, and Bangkok. By the end of 2023, the team aims to expand Realiste to more than 30 cities globally, partnering with local businesses that share the company’s vision and have an in-depth understanding of their markets.

In February 2023, Realiste officially launched a joint venture in Saudi Arabia with local partners, including Ahmed Alenazi, the former CEO of STC Pay, a successful fintech unicorn startup. This joint company was valued at $10M. Realiste plans to collaborate with local developers and banks in Saudi Arabia and digitalize 13 cities by the end of 2023.

The revenue in Dubai’s company stands at $1M, and the team aims to reach $30M by the end of 2023.