Studio Apartment in Milano by Giovanni Boutique Suites, JVC, Below OP, Tenanted with Rental Income

Property Overview

A fully furnished studio apartment is available in Milano by Giovanni Boutique Suites, District 17, Jumeirah Village Circle, Dubai. The unit provides 397 sqft of built-up area on a mid floor and is priced at AED 565,000 (AED 1,423 per sqft) on net-to-owner terms. The agent states this is below the original purchase price of AED 600,000, representing a 5.8% discount. The unit is fully paid with no outstanding instalments and is currently tenanted with rental income.

Deal Analysis: Below OP

The agent states an original purchase price of AED 600,000 and an asking price of AED 565,000, giving a discount of AED 35,000 or 5.8%. This is a modest discount on an investment-grade studio in JVC.

The sale is structured as net to owner. The seller receives AED 565,000 clear of all charges. The buyer pays the 4% DLD transfer fee (AED 22,600), agency commission (typically 2%, or AED 11,300) and any administrative fees on top. The total acquisition cost for the buyer is approximately AED 600,000 to AED 605,000 including all transaction costs, which effectively brings the all-in cost close to the original purchase price.

The seller also absorbs the 4% DLD fee they paid at purchase (AED 24,000), bringing their total loss to approximately AED 59,000 including both the discount and the original DLD fee. The unit being fully paid and tenanted suggests an investor exit rather than financial distress, with the seller prioritising a clean, fast transaction over price recovery.

Rental Yield Analysis

The agent claims 7% net ROI. An active Bayut rental listing (ref 16012842, listed 30 July 2026) for a comparable furnished studio in the same building at 395 sqft shows an annual rent of AED 40,000 with community view and one parking space.

At the asking price of AED 565,000:

• Gross yield: AED 40,000 divided by AED 565,000 = 7.1%
• Estimated annual service charges: approximately AED 6,000 (based on typical JVC hotel apartment service charge rates)
• Net yield after service charges: approximately AED 34,000 divided by AED 565,000 = 6.0%

The agent's 7% appears to be the gross yield, not net. The actual net yield after service charges is closer to 6%. This does not account for periodic maintenance, DEWA deposits or vacancy periods. Including the buyer's transaction costs (DLD fee, agency commission) in the total investment basis, the effective net yield on total capital deployed is approximately 5.6%.

JVC studios in serviced buildings typically achieve gross yields in the 6% to 8% range, so this unit sits within the normal band for the area.

No DLD Transaction Data

No DLD transaction records were found for Milano by Giovanni Boutique Suites on Property Finder. This limits the ability to independently verify the stated OP of AED 600,000 or to compare against recent sale prices in the building. The round figure of AED 600,000 for the OP is plausible for a 397 sqft studio purchased off-plan or at completion in a JVC boutique building, but it cannot be corroborated from public records.

About Milano by Giovanni Boutique Suites

Milano by Giovanni Boutique Suites is a boutique residential building developed by Arthur and Hardman Real Estate Development. Located in District 17, Jumeirah Village Circle, the building was completed in December 2019 and comprises 124 units across 19 floors (B+G+4P+14). All units are delivered fully furnished.

Studio sizes in the building range from 377 to 455 sqft per the Bayut building page. The subject unit at 397 sqft falls within this range.

Building Classification

Bayut classifies the building as an apartment hotel, and Dubizzle lists rental units in the building under the hotel apartment category. The building offers hotel-style amenities and services including concierge, a poolside cafe and fully furnished units as standard. However, the agent lists the property as an apartment, and the Bayut building metadata classifies it as residential with freehold ownership.

The distinction matters for buyers. Hotel apartments may carry higher service charges due to hospitality management fees, and may be subject to different DTCM (Department of Tourism and Commerce Marketing) regulations if operated as short-term rentals. Buyers should confirm the DLD classification and any operator or management agreements attached to the unit.

Amenities

The building provides a temperature-controlled swimming pool, gym, steam room, sauna, poolside cafe, ground-floor retail outlets, four floors of covered parking, high-speed elevators, 24/7 CCTV and security, central air conditioning, concierge services and pet-friendly policy (with permission). The building includes retail and dining options at ground level.

Location

District 17 is positioned in the western section of Jumeirah Village Circle, close to Al Khail Road (E44) and Hessa Street (D61). JVC provides access to Sheikh Mohammed bin Zayed Road (E311) and is within driving distance of Dubai Marina, JBR, Mall of the Emirates and Dubai Autodrome. The area has seen significant retail and community infrastructure development, with Circle Mall and multiple neighbourhood amenities within JVC.

Verification Notes

• The original purchase price of AED 600,000 is stated by the agent. No DLD transaction data was found for this building to independently verify this figure. The round number is plausible but unverifiable.
• The 5.8% discount is modest. With NTO terms, the buyer's total acquisition cost including DLD and agency fees is approximately AED 600,000 to AED 605,000, close to the stated OP.
• The agent claims 7% net ROI. Based on a comparable rental listing at AED 40,000 per year, the gross yield is approximately 7.1% but the net yield after estimated service charges is closer to 6%.
• The building is classified differently across platforms: apartment hotel on Bayut, hotel apartment on Dubizzle rentals, apartment by the agent, and residential in building metadata. Buyers should confirm the DLD classification and check for any hotel operator or management agreements.
• The unit is fully paid with no mortgage or payment plan obligations to transfer. It is currently tenanted, providing immediate rental income to the buyer upon completion of the sale.
• Mid floor position and view type (likely community view based on comparable rental listing) should be confirmed with the agent.
• Completed December 2019, making the building approximately 7 years old. Condition of the unit and common areas should be inspected.
• Pets are allowed with permission per the building policy.