1501, Paramount Tower Hotel & Residences Downtown
Sold prices and rental history: sold once, by the developer in October 2022, and rented once, from July 2024. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 1501, Paramount Tower Hotel & Residences Downtown
What is 1501 worth today?
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Source: Dubai Land Department. Updated 24 July 2024.
Key facts
- Type
- Studio hotel apartment
- Size
- 522 sqft
- Floor
- 15th of 63
- Parking
- EU
- Developer
- Namaa Properties Development
- Completed
- 2022
- Service charge
- AED 10,400 /yr
- Last sold
- AED 1.3M · October 2022
About 1501, Paramount Tower Hotel & Residences Downtown
1501 is a studio of 522 sqft on the 15th floor of Paramount Tower Hotel & Residences Downtown, a 63-storey tower in Business Bay completed in 2022 by Namaa Properties Development. The developer sold it on 27 October 2022 for AED 1,298,000, or AED 2,484 per sqft, 13% above the AED 2,203 studios in the building were fetching at the time.
One Ejari contract is registered, from 24 July 2024. The current contract, signed on 24 July 2024, is AED 190,000 a year: a gross yield of 14.6% on the 2022 price, before the service charge of about AED 10,400 a year.
Sales and rents for 1501 over time
1501 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 Paramount Tower Hotel & Residences Downtown, and where 1501 sits
All 203 studios →1501 last sold in October 2022 at AED 2,484 per sqft, 13% above what studios in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 2,203). Over the last 12 months studios sold for AED 630,000 to 1,295,000, around AED 1,579 per sqft, and rent for AED 65,000 to 90,000 a year. 1501's AED 190,000 is at the top of that range.
| Recent studio sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 3 Jul 20263 July 2026 | 477 sqft | 777,215 | 1,630 | ||
| 22 May 202622 May 2026 | 627 sqft | 960,367 | 1,531 | ||
| 22 May 202622 May 2026 | 520 sqft | 830,484 | 1,596 | ||
| 24 Feb 202624 February 2026 | 520 sqft | 1,295,000 | 2,489 |
Paramount Tower Hotel & Residences Downtown
Building784 apartments, studios to 3-bed over 63 floors in Business Bay, completed in 2022 by Namaa Properties Development. 33 sold in the last 12 months.
- Typical price per sqft
- AED 2,005 Up 3.3%
- Typical sale
- AED 2.35M
- Typical rent
- AED 151K /yr
- Typical yield
- 6.6%
Other units on the 15th floor
All 784 units in Paramount Tower Hotel & Residences Downtown| ValueToday's value | |||||
|---|---|---|---|---|---|
| 1502 | Studio | 520 sqft | AED 1.2MAED 1,199,000 · Feb 2020February 2020 | ||
| 1503 | Studio | 520 sqft | AED 1.1MAED 1,100,000 · Aug 2021August 2021 | ||
| 1504 | Studio | 520 sqft | AED 1.2MAED 1,199,000 · Feb 2020February 2020 | ||
| 1505 | Studio | 520 sqft | AED 847KAED 847,000 · Jul 2022July 2022 | ||
| 1506 | Studio | 520 sqft | AED 1.1MAED 1,098,000 · Sep 2021September 2021 | ||
| 1507 | Studio | 518 sqft | AED 1.19MAED 1,194,000 · Jan 2020January 2020 | ||
| 1508 | 2-bed | 1,361 sqft | AED 3.09MAED 3,093,000 · Aug 2022August 2022 | ||
| 1509 | 1-bed | 1,050 sqft | AED 2.49MAED 2,489,000 · Jan 2024January 2024 | ||
| 1510 | Studio | 520 sqft | AED 1.3MAED 1,295,000 · Sep 2023September 2023 | ||
| 1511 | Studio | 520 sqft | AED 821KAED 821,443 · Feb 2026February 2026 |
1501, Paramount Tower Hotel & Residences Downtown in numbers
- Sold once: by Namaa Properties Development on 27 October 2022 for AED 1,298,000, or AED 2,484 per sqft.
- Rented since July 2024 on one Ejari contract, at AED 190,000 a year.
- At AED 190,000 a year the gross yield on the 2022 price is 14.6%, before a service charge of about AED 10,400 a year (AED 19.93 per sqft).
- Studios in Paramount Tower Hotel & Residences Downtown sold for AED 630,000–1,295,000 in the 12 months to November 2026; the building's median across all types is AED 2,005 per sqft.
Source: Dubai Land Department. Updated 24 July 2024.
Questions about 1501, Paramount Tower Hotel & Residences Downtown
What did unit 1501 last sell for?
AED 1,298,000 on 27 October 2022, sold by the developer: AED 2,484 per sqft for 522 sqft. It is the only registered sale of the unit.
What is the rent for unit 1501?
AED 190,000 a year on the contract signed on 24 July 2024.
How big is unit 1501?
522 sqft (48.5 sqm): a studio on the 15th floor of a 63-storey tower completed in 2022.
What is unit 1501 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Paramount Tower Hotel & Residences Downtown sold for AED 630,000 to 1,295,000 in the last 12 months, around AED 1,579 per sqft.
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Mortgage on 1501, Paramount Tower Hotel & Residences Downtown
Starts from the last sale price (AED 1.3M, 27 October 2022). Switch to today's estimate once you have unlocked it.- Price
- AED 1,298,000
- Deposit, UAE resident (20%)
- AED 259,600
- Deposit, non-resident (40%)
- AED 519,200
- Monthly over 25 years at 3.7%
- AED 5,311
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →