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Welcome back, Fatima
Here's what's moving across MPM's feasibility pipeline.
Active Feasibilities
14
+3 this week
Avg Turnaround
2.4 days
↓ from 9 days
Analyst Hours Saved
186 hrs / mo
+22% vs baseline
Deals YTD
47
AED 4.2B GDV
★ Active feasibility
International City 1 · Plot 6212099
Residential development · 239 units · Dubai · Furnished handover
Levered IRR
38.2%
Revenue
AED 197.8M
Net Income
AED 62.5M
BUA
313,116 sqft
Open →
Feasibility Throughput
Last 12 weeksDeal Mix by Asset Type
YTD 2026Recent Feasibilities
View all →| Deal | Location | Type | IRR | Status |
|---|
AI Activity
Today- REIDIN comps auto-ingested for IC1 Plot 6212099 · 12 min ago
- DLD transaction registered for 2 new Oqood units · 28 min ago
- Investment summary drafted for IC1 Plot 6212099 · 38 min ago
- Assumption flag: 1BR price exceeds REIDIN median by 8% · 1 hr ago
- Sensitivity rerun — construction cost +AED 30/sqft · 2 hr ago
- Quanta supply refresh for Dubai residential · 4 hr ago
Portfolio
47 feasibilities across MPM's pipeline · 14 active · Showing most recent.
| Deal | Location | Type | GDV (AED M) | IRR | NPV (AED M) | Yield on Cost | Analyst | Status |
|---|
New Feasibility
Start a new analysis. AI data ingestion begins once you confirm location and asset type.
1 Type
2 Asset
3 Location
4 Parameters
5 Review
Feasibility Type
Development
Ground-up dev with land acquisition
Investment
Acquire, hold, exit analysis
Master Leasing
Head-lease + sub-lease structure
Asset Type
Residential
Mixed-Use
Office
Retail
Industrial
Hospitality
Land Residual
Location
Preliminary Parameters
International City 1 · Plot 6212099
Residential development · Dubai · Valuation date 30 Jul 2024 · Furnished handover plan
Levered IRR
38.2%
vs hurdle 15.0%
Net Income
AED 62.5M
post interest
Total Revenue
AED 197.8M
239 units
Total Investment
AED 129.7M
Land + Dev
Debt Raised
AED 27.3M
@ 8.5%
Construction
10 qtrs
Q1 25 → Q1 27
Site & Massing
Extracted from Excel · Project details tabPlot No.6212099
LocationInternational City 1, Dubai
Plot Area51,549 sqft
GFA174,888 sqft
BUA313,116 sqft
Net Saleable Area165,853 sqft
SA / GFA ratio94.8%
GFA / BUA ratio55.9%
Unit Mix Snapshot
Full breakdown →Total Units239
1BR Saleable Area58,843 sqft (35.5%)
2BR Saleable Area107,009 sqft (64.5%)
Retail / Office / Hotel— none —
Pricing · Two Payment Plans
View schedule →| Unit Type | Post-Handover | Construction-Linked |
|---|---|---|
| 1 BR | AED 1,225 /sqft | AED 1,000 /sqft |
| 2 BR | AED 1,175 /sqft | AED 975 /sqft |
Buyers on post-handover pay 40% across 14 quarters post-handover (Q1 2027 → Q2 2030). Furnished handover adds AED 15k (1BR) / AED 25k (2BR).
Cost Stack
Full model →ConstructionAED 84.5M
LandAED 16.3M
Brokerage & MarketingAED 12.9M
Authorities & ProfessionalAED 10.1M
Contingency + MiscAED 4.0M
Interest + Processing FeeAED 5.6M
Cost stack totals AED 129.7M invested · AED 133.4M fully loaded with finance costs.
Timeline
From Excel · Assumption & phasing tabValuation date
30 Jul 2024
Launch & initial sales (20%)
Q3 2024
Construction window (10 qtrs)
Q1 2025 → Q1 2027
Handover & Oqood transfers
Q1 2027
Post-handover receivables
Q1 2027 → Q2 2030
Product Mix · Unit Breakdown
239 units across 13 apartment types. Extracted from the Product Mix tab and reconciled with Assumption & phasing.
Total Units
239
100% residential
1 Bedroom
107
44.8% of units
2 Bedroom
132
55.2% of units
Saleable Area
165,853 sqft
94.8% of GFA
Avg Size (1BR)
550 sqft
range 522 – 718
Avg Size (2BR)
811 sqft
range 786 – 1,000
Area Split
Saleable sqftUnit Count by Type
13 distinct floorplan typesFloorplan Types — Detail
1a–1f (1BR) · 2a–2g (2BR)| Type | Config | Qty | Unit Size (sqft) | Total Area (sqft) | % of Saleable | Furnishing Uplift |
|---|---|---|---|---|---|---|
| Total | 239 | — | 165,853 | 100.0% | AED 4.91M | |
How AI Extracted This
- Parsed Product Mix tab — 13 floorplan rows with quantity, min size, max size, total area auto-mapped to unit type schema.
- Reconciled against Assumption & phasing tab — checked total saleable (165,853 sqft) matched between sheets · no variance.
- Cross-checked against Project Details — 239 apartments · 520 target inventory listed in reference towers tab (Index Tower, Park Tower, Liberty House).
- Computed pricing uplifts — furnished premium of AED 15k (1BR) + AED 25k (2BR) = AED 4.91M premium over unfurnished plan.
- Flagged for analyst review — no 3BR / 4BR / Studio / Retail / Office · unusual for this plot size, confirm with project client before IC submission.
Market Data Room
Live feeds from REIDIN, PropertyFinder, Dubai Land Department, Quanta, and ground research. All extraction runs logged.
Extracted Assumptions
47 auto-filled · 3 flagged1BR Sale Price (post-handover)AED 1,225 /sqftREIDIN
2BR Sale Price (post-handover)AED 1,175 /sqftREIDIN
1BR Sale Price (construction-linked)AED 1,000 /sqftPropertyFinder
Construction CostAED 270 /sqft BUAGround⚠ review
Authority Fee formula14/BUA + 10/GFAMPM Standard
Brokerage4.0% of sale valueMPM Standard
Marketing2.5% of sale valueMPM Standard
Contingency3.5% of constructionMPM Standard
Cost of Debt8.5%ADIB
Loan Processing Fee1.0%ADIB
RERA Escrow Retention5.0%DLD
Absorption (1BR)96 units Y1Quanta⚠ review
Ingestion Timeline
Last 24 hours- REIDIN · parsed 142 comps — International City cluster · 12 min ago
- PropertyFinder · 412 active listings mapped — Dubai residential · 28 min ago
- Dubai Land Department · 87 registered transactions in IC cluster · 1 hr ago
- Quanta · 38 supply-pipeline projects within 3 km · 2 hr ago
- Ground Research · broker interviews returned 2 conflicting rental views, flagged · 3 hr ago
- ADIB Market Intel · group-level debt comps refreshed · 3 hr ago
- Excel · parsed 14 sheets × 793 rows from uploaded workbook · yesterday
Assumptions Library
Central register for International City 1 Plot 6212099. Edit any value to trigger a model recompute.
Revenue & Pricing
REIDIN
REIDIN
PropertyFinder
PropertyFinder
MPM
MPM
MPM
Hard & Soft Costs
Ground
MPM
MPM
MPM
MPM
DLD
MPM
MPM
MPM
Sales & Marketing Costs
MPM
MPM
MPM
Financing & Regulatory
ADIB
ADIB
ADIB
DLD
MPM
MPM
Payment Plan
Buyer instalments — construction-linked and post-handover. Both variants supported in-model.
Construction-Linked (60/40 on handover)
Post-Handover (60/40 over 14 qtrs)
Instalment Schedule
60% during construction · 40% on handoverPlan Mechanics
RERA-compliant payment schedule · escrow account held with Al Hilal Bank · 5% retention applied on collected revenue.
Quarter-by-Quarter
Construction-Linked plan · Q3 2024 → Q1 2027 handoverExample Buyer Journey · 1 Bedroom · AED 673,425
Type 1a · 522 sqft · 1BR @ AED 1,290 /sqft (post-handover)Construction Phasing
Per-quarter completion profile and cost spend. 10-quarter construction window Q1 2025 → Q1 2027.
Construction Window
10 quarters
Q1 25 → Q1 27
Peak Quarter
Q4 2025
19% completion
Peak Spend
AED 16.1M
in Q4 2025
50% Complete
Q1 2026
after 6 quarters
Total Cost
AED 84.5M
construction only
Handover
Q1 2027
final 2%
S-Curve · Quarterly & Cumulative
% of total constructionConstruction Spend · AED M
Outflow per quarterPer-Quarter Schedule
Source: Excel tab "Assumption & phasing" · Construction Phasing section. Area completed × AED 270/sqft = quarterly spend.
International City 1 — Financial Model
Residential development · Dubai · Last run 4 min ago · Valuation date 30 Jul 2024
Levered IRR
38.2%
vs hurdle 15.0%
Net Income (Pre-Int.)
AED 68.1M
52.5% on investment
Net Income (Post-Int.)
AED 62.5M
48.2% on investment
Total Revenue
AED 197.8M
239 units sold
Total Investment
AED 129.7M
Land + Dev
Escrow Retention
5.0%
RERA-mandated
Cashflow
Cost Breakdown
Revenue
Financing
Returns
Annual Cashflow
10-year horizon · Revenue vs Cost vs Equity CFCost Breakdown
11 line items · fully loaded AED 133.4M| Land Cost | AED 16.29M | (A) |
| Construction — AED 270 /sqft × 313,116 sqft | AED 84.54M | (a) |
| Design Charges — 1.2% | AED 1.01M | (b) |
| Authority Fee — 14/BUA + 10/GFA | AED 6.13M | (c) |
| Architect & Consultant — 1.5% | AED 1.27M | (d) |
| Project Management — 2.0% | AED 1.69M | (e) |
| RERA Site Inspection — 1.0% | AED 0.85M | (f) |
| Management & Operations — 2.5% | AED 2.11M | (g) |
| Miscellaneous (Legal/Valuer) | AED 1.00M | — |
| Contingency — 3.5% | AED 2.96M | (h) |
| Subtotal Hard + Soft Costs (a→h) | AED 100.57M | (i) |
| Brokerage & Royalty — 4.0% | AED 7.91M | (j) |
| Marketing & Sales — 2.5% | AED 4.95M | (k) |
| Development Cost (i+j+k) | AED 113.42M | (B) |
| Total Investment (A+B) | AED 129.71M | (C) |
| Interest @ 8.5% on AED 27.3M debt | AED 5.29M | (F) |
| Loan Processing Fee @ 1.0% | AED 0.27M | (G) |
Revenue & Returns
| Residential Revenue (239 units) | AED 197.82M |
| Retail Revenue | — |
| Total Revenue (D) | AED 197.82M |
| Net Project Income (C+D) (E) | AED 68.11M |
| Debt Raised | AED 27.30M |
| Less Interest + Loan Fee (F+G) | AED 5.56M |
| Net Income Post-Interest (E+F+G) | AED 62.54M |
| Levered Project IRR | 38.20% |
| MPM Equity Hurdle | 15.00% |
| Excess IRR vs Hurdle | +23.2 pts |
Debt Structure
PrincipalAED 27.30M
LenderADIB (Group)
Rate8.50% p.a.
Interest accruedAED 5.29M
Processing feeAED 0.27M (1%)
Annual Summary · AED M
| Year | Revenue | Costs | Equity CF | Cumulative |
|---|
Computed from quarterly cashflow in the "Cashflow - Construction linked" tab · rolled up annually.
Market Comparables
12 comparable transactions · auto-extracted from REIDIN, PropertyFinder, and Dubai Land Department records.
1BR Median /sqft
AED 1,216
vs our 1,225
2BR Median /sqft
AED 1,195
vs our 1,175
Cluster
IC + Periphery
3 km radius
Sample Size
641
listings + DLD
Showing Top
12
analyst shortlist
Last Refresh
12 min ago
REIDIN API
Comp List
Ranked by proximity and relevance (LLM similarity score)| Property | Unit | Size | Asking / Closed | AED /sqft | Source | Date | Status |
|---|
Price per sqft — 1BR vs 2BR
vs our planSource Attribution
Sensitivity Analysis
International City 1 Plot 6212099 · How IRR moves when key drivers shift.
Tornado — IRR Impact by Driver
±1 standard moveHeatmap — 1BR Price × 2BR Price
Levered IRRLowHigh
Construction Cost Sensitivity
AED /sqft BUA → Levered IRRScenarios
| Scenario | IRR | Net Income (AED M) |
|---|---|---|
| Base Case · AED 1,225 / 1,175 | 38.2% | 62.5 |
| Optimistic · +AED 50/sqft on both | 42.5% | 70.8 |
| Downside · -AED 50/sqft on both | 33.7% | 54.7 |
| Cost Stress · AED 320/sqft BUA | 26.2% | 44.2 |
| Cost Stress · AED 340/sqft BUA | 21.6% | 33.4 |
| Debt Stress · 10.5% rate | 35.9% | 60.2 |
RERA Compliance
Dubai Land Department · Real Estate Regulatory Agency. Escrow, Oqood, inspection, profit-withdrawal governance.
Escrow Retention
5.0%
of collected revenue
Oqood Registrations
86 / 239
36% registered
RERA Inspections
1 / 4
scheduled
Financing NOC
Pending
ADIB
Escrow Account
Al Hilal Bank · A/C 01-ESC-4421TrusteeDubai Land Department (RERA)
Retention rule5% of every buyer payment
Retention balance (demo)AED 2.47M
Profit withdrawalAllowed post-handover
Profit withdrawal requires: project status "Completed", DLD technical report, NOC from financing bank, and confirmation of 5% retained amount.
Authority Fees
Formula14 AED × BUA + 10 AED × GFA
BUA componentAED 4.38M (313,116 × 14)
GFA componentAED 1.75M (174,888 × 10)
TotalAED 6.13M
Authority fees cover Dubai Municipality, Civil Defence, DEWA, Trakhees reviews, and public-realm contributions.
RERA Site Inspections
Bank Audit fee @ 1% of construction cost (AED 0.85M)| Milestone | Scheduled | Audit Focus | Status |
|---|---|---|---|
| 20% completion | 20 Oct 2024 | Substructure · foundations · pour records | Scheduled |
| 50% completion | 25 Jul 2025 | Structural · MEP rough-in | Not due |
| 80% completion | 15 Aug 2026 | Envelope · finishes · fire safety | Not due |
| Handover certification | 30 Jan 2027 | Occupancy permits · Oqood transfers · O&M handover | Not due |
Profit Withdrawal Checklist
DLD e-service prerequisites- ☐ Project status "Completed" on DLD register
- ☑ Real estate developer licence current (expires Dec 2026)
- ☐ 5% escrow retention confirmed in main escrow
- ☐ DLD technical report dated within 6 months
- ☑ Escrow account covers all project obligations
- ☐ Developer undertaking on project continuation
- ☐ Developer undertaking on third-party claims
- ☐ NOC from financing bank (ADIB — pending)
Source: Dubai Land Department · Request for Withdrawal procedure. Auto-synced from dubailand.gov.ae.
Ask the Model
Tune assumptions in natural language. The model recomputes instantly and logs every change.
What drives our IRR the most on Plot 6212099?
The three biggest drivers are Exit Yield / Sale Price (±2.1% IRR per AED 50/sqft move), Construction Cost (every extra AED 10/sqft shaves ~230 bps off levered IRR), and Absorption (selling 10% slower drops IRR by 140 bps through debt carry). Cost of debt and contingency are smaller.
Open tornado chartView heatmap
Run a sensitivity if construction cost rises to AED 320/sqft
Recomputed at AED 320 /sqft BUA:
Construction AED 270 → 320 /sqft
Total Cost AED 84.5M → 100.2M (+18.5%)
Levered IRR 38.2% → 26.2% (-12 pts)
Net Income AED 62.5M → 44.2M (-18.3M)
Still clears hurdle (15%) by 11.2 pts.
How does our 1BR price compare to REIDIN median?
Our post-handover 1BR price is AED 1,225/sqft. The REIDIN median for active 1BR listings in International City + periphery (sample of 5) is AED 1,216/sqft. You're +0.7% · within tolerance. The construction-linked price (AED 1,000/sqft) reflects MPM's standard ~18% discount for carried-payment risk.
Open comps view
Draft the Recommendation paragraph for the IC
Done — drafted in Investment Summary. Headline: "Proceed. At 38.2% levered IRR on AED 129.7M investment, the deal clears MPM's 15% hurdle by 23.2 pts. Revenue AED 197.8M across 239 residential units · sensitivity shows deal remains above hurdle even under AED 320/sqft cost stress."
Review & edit summary
Try:
What if 1BR sale price drops to AED 1,075?
Compare IC1 to Liwan · Queue Point
Generate tornado chart with escalation included
Stress-test 40% post-handover absorption
Investment Summary
Auto-drafted from model outputs. Review, edit, and publish to the IC.
MPM Properties · Investment Summary
21 April 2026 · Draft v1
International City 1 · Plot 6212099 — Residential Development
Recommendation
MPM recommends proceeding with development. At 38.2% levered IRR on AED 129.7M total investment (AED 27.3M debt at 8.5% · balance equity), the deal clears MPM's 15.0% equity hurdle by 23.2 points. Total residential revenue of AED 197.8M across 239 units yields net project income of AED 62.5M post-interest. Market comparables from REIDIN, PropertyFinder and Dubai Land Department validate the AED 1,225 / AED 1,175 per sqft plan for 1BR and 2BR respectively — both within 1% of cluster median.
Key Metrics
| Levered IRR | 38.2% |
|---|---|
| Net Project Income (pre-interest) | AED 68.11M |
| Net Project Income (post-interest) | AED 62.54M |
| Total Revenue | AED 197.82M |
| Total Investment | AED 129.71M |
| Construction Period | 10 quarters (Q1 2025 – Q1 2027) |
| RERA Escrow Retention | 5% (AED 9.89M at completion) |
Key Risks & Mitigants
- Construction cost inflation — base AED 270/sqft is bottom quartile vs REIDIN cluster. Cost stress at AED 320/sqft still clears hurdle (IRR 26.2%). Mitigant: fixed-price GMP contract at tender.
- 1BR absorption risk — model assumes 96 × 1BR sold in Y1; market median is ~17 units/year in cluster. Mitigant: phased launch, broker incentive structure, construction-linked plan as accelerator.
- RERA escrow exposure — 5% retention of AED 9.89M held until handover certification; capital tied up until Q1 2027. Mitigant: priced into debt sizing.
- Financing NOC — profit withdrawal requires ADIB NOC; currently pending. Mitigant: treasury-level engagement pre-Oqood transfers.
Sources
REIDIN rental & transaction comparables (142 listings, IC cluster 2022–2026) · PropertyFinder active listings (412 in Dubai residential) · Dubai Land Department transactions (87 records in cluster) · Quanta supply pipeline (38 projects, 3 km radius) · ADIB Market Intel (financing benchmarks, LTV & rate) · Ground Research (site visit & 4 broker interviews) · Client Excel model (14 sheets, 793 assumption rows).
Maker-Checker Workflow
Every model run and assumption change is logged. Two-stage review ensures governance compliance.
1
Draft created
F. Al Marzooqi · 21 Apr 2026 · 10:14 · Excel upload parsed (14 sheets)
✓ Complete
2
AI ingestion & assumption tuning
47 assumptions auto-filled · 4 manual overrides · Audit trail attached
✓ Complete
3
Maker submission
Submitted to R. Radzi for checker review
◉ In Progress
4
Checker review
R. Radzi · Independent recalculation required before approval
Pending
5
Investment Committee approval
S. Gissing (CEO) + IC members · Final sign-off
Pending
Change Log
- 1BR Price auto-set to AED 1,225 /sqft · REIDIN match · 11 min ago
- Construction cost auto-mapped AED 270 /sqft · MPM Excel · 12 min ago
- Absorption manual override · 52 → 96 /mo (1BR Y1) · 34 min ago
- Model recomputed · Levered IRR 38.2% · Net Income AED 62.5M · 11 min ago
Reviewer Comments
R. Radzi · 11:42
AED 270/sqft construction is bottom-quartile for IC cluster. Please add a sensitivity at AED 320 and confirm deal still clears hurdle under that cost scenario.
F. Al Marzooqi · 11:48
Added. Under AED 320/sqft BUA, levered IRR is 26.2% — still +11.2 pts over hurdle. Updated Sensitivity tab, v1.1.