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1-bed · 1,003 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 16th floor · completed 2022

1603, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in March 2023, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1603 · DLD and Ejari recordsUpdated 14 March 2023
Last soldAED 2.38M14 March 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1603, Paramount Tower Hotel & Residences Downtown

What is 1603 worth today?

Last sold for AED 2,379,000 in 2023

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14 Mar 2023Sold by developerReady
AED 2,379,000AED 2,372 per sqft

Source: Dubai Land Department. Updated 14 March 2023.

Key facts

Type
1-bed hotel apartment
Size
1,003 sqft
Floor
16th of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 20,000 /yr
Last sold
AED 2.38M · March 2023
Building
Paramount Tower Hotel & Residences Downtown

About 1603, Paramount Tower Hotel & Residences Downtown

1603 is a one-bedroom hotel apartment of 1,003 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 14 March 2023 for AED 2,379,000, or AED 2,372 per sqft, in line with the AED 2,360 one-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 1603 over time

Sales
Unit 1603, each saleTypical one-bed in Paramount Tower Hotel & Residences Downtown
1M2M2016201920222025Typical 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, March 2023: AED 2,379,000 (AED 2,372 per sqft)

1603 has sold once; the dashed line is the one-bed median of each year in the building.

Rents
Unit 1603, 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 1603 sits

All 174 1-beds →

1603 last sold in March 2023 at AED 2,372 per sqft, in line with what one-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 2,360). 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
16021-bedAED 2.04M · Aug 2022
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

1603, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 14 March 2023 for AED 2,379,000, or AED 2,372 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 14 March 2023.

Questions about 1603, Paramount Tower Hotel & Residences Downtown

What did unit 1603 last sell for?

AED 2,379,000 on 14 March 2023, sold by the developer: AED 2,372 per sqft for 1,003 sqft. It is the only registered sale of the unit.

How big is unit 1603?

1,003 sqft (93.2 sqm): a one-bedroom hotel apartment on the 16th floor of a 63-storey tower completed in 2022.

What is unit 1603 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.

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Mortgage on 1603, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 2.38M, 14 March 2023). Switch to today's estimate once you have unlocked it.
Price
AED 2,379,000
Deposit, UAE resident (20%)
AED 475,800
Deposit, non-resident (40%)
AED 951,600
Monthly over 25 years at 3.7%
AED 9,733

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