1602, Millennium Binghatti Residences
Sold prices and rental history: sold once, by the developer in February 2022, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 1602, Millennium Binghatti Residences
What is 1602 worth today?
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Source: Dubai Land Department. Updated 23 December 2023.
Key facts
- Type
- Studio apartment
- Size
- 523 sqft
- Floor
- 16th of 19
- Parking
- B2-31
- Developer
- Binghatti
- Completed
- 2021
- Service charge
- AED 10,000 /yr
- Last sold
- AED 600K · February 2022
- Building
- Millennium Binghatti Residences
About 1602, Millennium Binghatti Residences
1602 is a studio of 523 sqft on the 16th floor of Millennium Binghatti Residences, a 19-storey tower in Business Bay completed in 2021 by Binghatti. The developer sold it on 21 February 2022 for AED 600,000, or AED 1,147 per sqft, 9% below the AED 1,258 studios in the building were fetching at the time.
It has been rented since 2022 on 3 Ejari contracts. The current contract, renewed on 23 December 2023, is AED 70,000 a year: a gross yield of 11.7% on the 2022 price, before the service charge of about AED 10,000 a year.
Sales and rents for 1602 over time
1602 has sold once; the dashed line is the studio median of each year in the building.
Annual rent on each registered contract; the dashed line is the studio median of each year in the building.
Studios in Millennium Binghatti Residences, and where 1602 sits
All 118 studios →1602 last sold in February 2022 at AED 1,147 per sqft, 9% below what studios in Millennium Binghatti Residences were fetching at the time (AED 1,258). Over the last 12 months studios sold for AED 725,000 to 1,150,000, around AED 1,801 per sqft, and rent for AED 53,000 to 115,000 a year. 1602's AED 70,000 is in the lower half of that range.
| Recent studio sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 13 Jul 202613 July 2026 | 436 sqft | 900,000 | 2,065 | ||
| 3 Jul 20263 July 2026 | 528 sqft | 1,000,000 | 1,893 | ||
| 24 Apr 202624 April 2026 | 534 sqft | 725,000 | 1,358 | ||
| 11 Mar 202611 March 2026 | 508 sqft | 860,000 | 1,694 |
Millennium Binghatti Residences
Building236 apartments, studios to 2-bed over 19 floors in Business Bay, completed in 2021 by Binghatti. 17 sold in the last 12 months.
- Typical price per sqft
- AED 1,478 Down 3.4%
- Typical sale
- AED 1.25M
- Typical rent
- AED 75K /yr
- Typical yield
- 8.2%
Other units on the 16th floor
All 236 units in Millennium Binghatti Residences| ValueToday's value | |||||
|---|---|---|---|---|---|
| 1601 | 2-bed | 1,414 sqft | AED 1.14MAED 1,138,634 · Jun 2021June 2021 | 115,000 /yr | |
| 1603 | 1-bed | 822 sqft | AED 1.41MAED 1,412,570 · Jun 2019June 2019 | 85,000 /yr | |
| 1604 | 2-bed | 1,448 sqft | AED 1.52MAED 1,515,490 · Jun 2021June 2021 | ||
| 1605 | Studio | 541 sqft | AED 1.13MAED 1,133,584 · Jan 2020January 2020 | ||
| 1606 | Studio | 465 sqft | AED 589KAED 588,704 · Sep 2020September 2020 | ||
| 1607 | Studio | 443 sqft | AED 670KAED 670,000 · Jan 2022January 2022 | 64,000 /yr | |
| 1608 | 2-bed | 1,419 sqft | AED 1.65MAED 1,650,000 · Sep 2022September 2022 | 130,000 /yr | |
| 1609 | Studio | 518 sqft | AED 650KAED 650,000 · Aug 2021August 2021 | 75,000 /yr | |
| 1610 | Studio | 527 sqft | AED 620KAED 620,000 · Nov 2021November 2021 | ||
| 1611 | 1-bed | 841 sqft | AED 1.52MAED 1,518,588 · Jun 2019June 2019 | ||
| 1612 | 1-bed | 1,107 sqft | AED 900KAED 900,000 · Feb 2022February 2022 | 100,000 /yr |
1602, Millennium Binghatti Residences in numbers
- Sold once: by Binghatti on 21 February 2022 for AED 600,000, or AED 1,147 per sqft.
- Rented since June 2022 on 3 Ejari contracts, from AED 65,000 to AED 70,000 a year.
- At AED 70,000 a year the gross yield on the 2022 price is 11.7%, before a service charge of about AED 10,000 a year (AED 19.21 per sqft).
- Studios in Millennium Binghatti Residences sold for AED 725,000–1,150,000 in the 12 months to November 2026; the building's median across all types is AED 1,478 per sqft.
Source: Dubai Land Department. Updated 23 December 2023.
Questions about 1602, Millennium Binghatti Residences
What did unit 1602 last sell for?
AED 600,000 on 21 February 2022, sold by the developer: AED 1,147 per sqft for 523 sqft. It is the only registered sale of the unit.
What is the rent for unit 1602?
AED 70,000 a year on the contract renewed on 23 December 2023. The previous contract, from December 2022, was AED 70,000; the unit has been rented since June 2022.
How big is unit 1602?
523 sqft (48.6 sqm): a studio on the 16th floor of a 19-storey tower completed in 2021.
What is unit 1602 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Millennium Binghatti Residences sold for AED 725,000 to 1,150,000 in the last 12 months, around AED 1,801 per sqft.
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Mortgage on 1602, Millennium Binghatti Residences
Starts from the last sale price (AED 600K, 21 February 2022). Switch to today's estimate once you have unlocked it.- Price
- AED 600,000
- Deposit, UAE resident (20%)
- AED 120,000
- Deposit, non-resident (40%)
- AED 240,000
- Monthly over 25 years at 3.7%
- AED 2,455
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →