Home
Dubai prices
About
Research
1-bed · 859 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 16th floor · completed 2022

1602, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in August 2022, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1602 · DLD and Ejari recordsUpdated 21 August 2022
Last soldAED 2.04M21 August 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
Follow 1602

Property timeline for 1602, Paramount Tower Hotel & Residences Downtown

What is 1602 worth today?

Last sold for AED 2,036,000 in 2022

Unlock today's estimate, updated daily, with

Verify once to see valuations for every property. Everything else on this page is open.

21 Aug 2022Sold by developerReady
AED 2,036,000AED 2,369 per sqft

Source: Dubai Land Department. Updated 21 August 2022.

Key facts

Type
1-bed hotel apartment
Size
859 sqft
Floor
16th of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 17,100 /yr
Last sold
AED 2.04M · August 2022
Building
Paramount Tower Hotel & Residences Downtown

About 1602, Paramount Tower Hotel & Residences Downtown

1602 is a one-bedroom hotel apartment of 859 sqft on the 16th 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 21 August 2022 for AED 2,036,000, or AED 2,369 per sqft, 38% above the AED 1,722 one-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 1602 over time

Sales
Unit 1602, each saleTypical one-bed in Paramount Tower Hotel & Residences Downtown
1.5M2M2016201920222025Typical sale price by year: 2016 AED 1,561,052; 2018 AED 1,202,000; 2019 AED 1,481,159; 2020 AED 1,467,000; 2021 AED 1,431,528; 2022 AED 1,680,000; 2023 AED 1,925,000; 2024 AED 2,000,000; 2025 AED 1,800,000; 2026 AED 1,750,000Sold by developer, August 2022: AED 2,036,000 (AED 2,369 per sqft)

1602 has sold once; the dashed line is the one-bed median of each year in the building.

Rents
Unit 1602, each contractTypical one-bed in Paramount Tower Hotel & Residences Downtown
80K100K120K202220242026Typical rent by year: 2022 AED 81,000; 2023 AED 90,000; 2024 AED 110,000; 2025 AED 120,000; 2026 AED 105,000

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

1-beds in Paramount Tower Hotel & Residences Downtown, and where 1602 sits

All 174 1-beds →

1602 last sold in August 2022 at AED 2,369 per sqft, 38% above what one-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,722). Over the last 12 months one-beds sold for AED 1,400,000 to 2,100,000, around AED 2,119 per sqft, and rent for AED 90,000 to 147,500 a year.

Recent 1-bed salesUnit no.Price (AED)Summary
15 Oct 20261,400,000
16 Jun 20262,018,990
18 May 20262,000,000
8 May 20261,650,000
8 1-bed sales in the last 12 months

Paramount Tower Hotel & Residences Downtown

Building

784 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%
Paramount Tower Hotel & Residences Downtown, Business Bay: prices, sales and rents →

Other units on the 16th floor

All 784 units in Paramount Tower Hotel & Residences Downtown
Value
16011-bedAED 2.09M · Aug 2022
16031-bedAED 2.38M · Mar 2023
1604StudioAED 1.2M · Feb 2020
1605StudioAED 1.23M · Sep 2020
1606StudioAED 1.1M · Feb 2022
1607StudioAED 1.1M · Sep 2021
1608StudioAED 1.1M · Aug 2021
1–7 of 26

1602, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 21 August 2022 for AED 2,036,000, or AED 2,369 per sqft.
  • One-beds in Paramount Tower Hotel & Residences Downtown sold for AED 1,400,000–2,100,000 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 21 August 2022.

Questions about 1602, Paramount Tower Hotel & Residences Downtown

What did unit 1602 last sell for?

AED 2,036,000 on 21 August 2022, sold by the developer: AED 2,369 per sqft for 859 sqft. It is the only registered sale of the unit.

How big is unit 1602?

859 sqft (79.8 sqm): a one-bedroom hotel apartment on the 16th floor of a 63-storey tower completed in 2022.

What is unit 1602 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. One-beds in Paramount Tower Hotel & Residences Downtown sold for AED 1,400,000 to 2,100,000 in the last 12 months, around AED 2,119 per sqft.

Selling 1602? Put it on the OpenOffers board

Public offers from verified, deposit-backed buyers; a reserve you set; no fee unless it sells, then 1%. Sale agreed in weeks, not months.

How OpenOffers works

Mortgage on 1602, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 2.04M, 21 August 2022). Switch to today's estimate once you have unlocked it.
Price
AED 2,036,000
Deposit, UAE resident (20%)
AED 407,200
Deposit, non-resident (40%)
AED 814,400
Monthly over 25 years at 3.7%
AED 8,330

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