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2-bed · 1,571 sqftPark Gate Residences 2, Al Kifaf · 16th floor · completed 2020

1601, Park Gate Residences 2

Sold prices and rental history: sold once, by the developer in April 2022, and rented once, from November 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1601 · DLD and Ejari recordsUpdated 25 November 2022
Last soldAED 2.76M20 April 2022
Current rentAED 220K /yr25 November 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1601, Park Gate Residences 2

What is 1601 worth today?

Last sold for AED 2,756,777 in 2022

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25 Nov 2022RentedNew contract
AED 220,000/yr12 months · AED 140 per sqft
20 Apr 2022Sold by developerReady
AED 2,756,777AED 1,755 per sqft

Source: Dubai Land Department. Updated 25 November 2022.

Key facts

Type
2-bed apartment
Size
1,571 sqft
Floor
16th of 20
Parking
AB2-120
Developer
Wasl
Completed
2020
Last sold
AED 2.76M · April 2022
Building
Park Gate Residences 2

About 1601, Park Gate Residences 2

1601 is a two-bedroom apartment of 1,571 sqft on the 16th floor of Park Gate Residences 2, a 20-storey tower in Al Kifaf completed in 2020 by Wasl. The developer sold it on 20 April 2022 for AED 2,756,777, or AED 1,755 per sqft, 25% above the AED 1,403 two-beds in the building were fetching at the time.

One Ejari contract is registered, from 25 November 2022. The current contract, signed on 25 November 2022, is AED 220,000 a year: a gross yield of 8.0% on the 2022 price.

Sales and rents for 1601 over time

Sales
Unit 1601, each saleTypical two-bed in Park Gate Residences 2
2M2.5M3M20192021202320252027Typical sale price by year: 2019 AED 1,953,777; 2020 AED 2,017,277; 2021 AED 2,114,777; 2022 AED 2,230,777; 2023 AED 2,750,000; 2024 AED 2,714,000; 2025 AED 2,900,581; 2026 AED 2,925,000Sold by developer, April 2022: AED 2,756,777 (AED 1,755 per sqft)

1601 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1601, each contractTypical two-bed in Park Gate Residences 2
100K200K2021202320252027Typical rent by year: 2021 AED 84,000; 2022 AED 120,000; 2023 AED 130,000; 2024 AED 145,000; 2025 AED 157,000; 2026 AED 147,500New contract, November 2022: AED 220,000 a year

Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.

2-beds in Park Gate Residences 2, and where 1601 sits

All 125 2-beds →

1601 last sold in April 2022 at AED 1,755 per sqft, 25% above what two-beds in Park Gate Residences 2 were fetching at the time (AED 1,403). Over the last 12 months two-beds sold for AED 2,400,000 to 3,300,000, around AED 1,856 per sqft, and rent for AED 120,000 to 186,555 a year. 1601's AED 220,000 is at the top of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
18 Sep 20263,260,000
1 Sep 20262,800,000
19 May 20262,800,000
29 Apr 20262,400,000
9 2-bed sales in the last 12 months

Park Gate Residences 2

Building

163 apartments, 1-bed to 4-bed over 20 floors in Al Kifaf, completed in 2020 by Wasl. 12 sold in the last 12 months.

Typical price per sqft
AED 1,840 Up 3.5%
Typical sale
AED 2.83M
Typical rent
AED 148K /yr
Typical yield
5.2%
Park Gate Residences 2, Al Kifaf: prices, sales and rents →

Other units on the 16th floor

All 163 units in Park Gate Residences 2
Value
16021-bedAED 1.8M · Apr 2022
16032-bedAED 2.76M · Apr 2022
16042-bedAED 2.11M · Apr 2022
16052-bedAED 2.17M · Apr 2022
16062-bedAED 2.13M · Apr 2022
16071-bedAED 1.59M · Apr 2022
16082-bedAED 2.13M · Apr 2022
1–7 of 9

1601, Park Gate Residences 2 in numbers

  • Sold once: by Wasl on 20 April 2022 for AED 2,756,777, or AED 1,755 per sqft.
  • Rented since November 2022 on one Ejari contract, at AED 220,000 a year.
  • At AED 220,000 a year the gross yield on the 2022 price is 8.0%.
  • Two-beds in Park Gate Residences 2 sold for AED 2,400,000–3,300,000 in the 12 months to November 2026; the building's median across all types is AED 1,840 per sqft.

Source: Dubai Land Department. Updated 25 November 2022.

Questions about 1601, Park Gate Residences 2

What did unit 1601 last sell for?

AED 2,756,777 on 20 April 2022, sold by the developer: AED 1,755 per sqft for 1,571 sqft. It is the only registered sale of the unit.

What is the rent for unit 1601?

AED 220,000 a year on the contract signed on 25 November 2022.

How big is unit 1601?

1,571 sqft (146.0 sqm): a two-bedroom apartment on the 16th floor of a 20-storey tower completed in 2020.

What is unit 1601 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Park Gate Residences 2 sold for AED 2,400,000 to 3,300,000 in the last 12 months, around AED 1,856 per sqft.

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Mortgage on 1601, Park Gate Residences 2

Starts from the last sale price (AED 2.76M, 20 April 2022). Switch to today's estimate once you have unlocked it.
Price
AED 2,756,777
Deposit, UAE resident (20%)
AED 551,355
Deposit, non-resident (40%)
AED 1,102,711
Monthly over 25 years at 3.7%
AED 11,279

Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →