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Studio · 401 sqftElite Business Bay Residence, Business Bay · 22nd floor · completed 2021

2208, Elite Business Bay Residence

Sold prices and rental history: sold once, by the developer in June 2021, and rented once, from October 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2208 · DLD and Ejari recordsUpdated 20 October 2022
Last soldAED 590K2 June 2021
Current rentAED 60K /yr20 October 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2208, Elite Business Bay Residence

What is 2208 worth today?

Last sold for AED 590,000 in 2021

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20 Oct 2022RentedNew contract
AED 60,000/yr12 months · AED 151 per sqft
2 Jun 2021Sold by developerReady
AED 590,000AED 1,472 per sqft

Source: Dubai Land Department. Updated 20 October 2022.

Key facts

Type
Studio apartment
Size
401 sqft
Floor
22nd of 23
Parking
P3-61
Developer
Range 4 Developments
Completed
2021
Service charge
AED 5,100 /yr
Last sold
AED 590K · June 2021
Building
Elite Business Bay Residence

About 2208, Elite Business Bay Residence

2208 is a studio of 401 sqft on the 22nd floor of Elite Business Bay Residence, a 23-storey tower in Business Bay completed in 2021 by Range 4 Developments. The developer sold it on 2 June 2021 for AED 590,000, or AED 1,472 per sqft, 24% above the AED 1,186 studios in the building were fetching at the time.

One Ejari contract is registered, from 20 October 2022. The current contract, signed on 20 October 2022, is AED 60,000 a year: a gross yield of 10.2% on the 2021 price, before the service charge of about AED 5,100 a year.

Sales and rents for 2208 over time

Sales
Unit 2208, each saleTypical studio in Elite Business Bay Residence
600K800K2017202020232026Typical sale price by year: 2017 AED 618,000; 2018 AED 645,000; 2019 AED 845,132; 2020 AED 605,000; 2021 AED 560,000; 2022 AED 605,000; 2023 AED 660,000; 2024 AED 790,000; 2025 AED 600,630; 2026 AED 783,750Sold by developer, June 2021: AED 590,000 (AED 1,472 per sqft)

2208 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 2208, each contractTypical studio in Elite Business Bay Residence
40K50K60K2021202320252027Typical rent by year: 2021 AED 38,000; 2022 AED 43,900; 2023 AED 52,000; 2024 AED 58,000; 2025 AED 60,000; 2026 AED 54,000New contract, October 2022: AED 60,000 a year

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

Studios in Elite Business Bay Residence, and where 2208 sits

All 317 studios →

2208 last sold in June 2021 at AED 1,472 per sqft, 24% above what studios in Elite Business Bay Residence were fetching at the time (AED 1,186). Over the last 12 months studios sold for AED 551,260 to 830,000, around AED 1,411 per sqft, and rent for AED 44,000 to 97,000 a year. 2208's AED 60,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
4 Nov 2026700,000
3 Nov 2026700,000
22 Sep 2026760,000
2 Sep 2026750,000
30 studio sales in the last 12 months

Elite Business Bay Residence

Building

524 apartments, studios to 4-bed over 23 floors in Business Bay, completed in 2021 by Range 4 Developments. 47 sold in the last 12 months.

Typical price per sqft
AED 1,388 Down 2.1%
Typical sale
AED 795K
Typical rent
AED 60K /yr
Typical yield
7.5%
Elite Business Bay Residence, Business Bay: prices, sales and rents →

Other units on the 22nd floor

All 524 units in Elite Business Bay Residence
Value
2201StudioAED 550K · Jun 2021
2202StudioAED 550K · Jun 2021
2203StudioAED 590K · Jul 2021
2204StudioAED 585K · Jul 2021
2205StudioAED 580K · Jun 2021
2206StudioAED 690K · Sep 2023
22072-bedAED 750K · Mar 2021
1–7 of 22

2208, Elite Business Bay Residence in numbers

  • Sold once: by Range 4 Developments on 2 June 2021 for AED 590,000, or AED 1,472 per sqft.
  • Rented since October 2022 on one Ejari contract, at AED 60,000 a year.
  • At AED 60,000 a year the gross yield on the 2021 price is 10.2%, before a service charge of about AED 5,100 a year (AED 12.83 per sqft).
  • Studios in Elite Business Bay Residence sold for AED 551,260–830,000 in the 12 months to November 2026; the building's median across all types is AED 1,388 per sqft.

Source: Dubai Land Department. Updated 20 October 2022.

Questions about 2208, Elite Business Bay Residence

What did unit 2208 last sell for?

AED 590,000 on 2 June 2021, sold by the developer: AED 1,472 per sqft for 401 sqft. It is the only registered sale of the unit.

What is the rent for unit 2208?

AED 60,000 a year on the contract signed on 20 October 2022.

How big is unit 2208?

401 sqft (37.3 sqm): a studio on the 22nd floor of a 23-storey tower completed in 2021.

What is unit 2208 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Elite Business Bay Residence sold for AED 551,260 to 830,000 in the last 12 months, around AED 1,411 per sqft.

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Mortgage on 2208, Elite Business Bay Residence

Starts from the last sale price (AED 590K, 2 June 2021). Switch to today's estimate once you have unlocked it.
Price
AED 590,000
Deposit, UAE resident (20%)
AED 118,000
Deposit, non-resident (40%)
AED 236,000
Monthly over 25 years at 3.7%
AED 2,414

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