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Studio · 518 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 16th floor · completed 2022

1605, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in September 2020, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1605 · DLD and Ejari recordsUpdated 27 September 2020
Last soldAED 1.23M27 September 2020
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1605, Paramount Tower Hotel & Residences Downtown

What is 1605 worth today?

Last sold for AED 1,229,000 in 2020

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27 Sep 2020Sold by developerOff-plan
AED 1,229,000AED 2,374 per sqft

Source: Dubai Land Department. Updated 27 September 2020.

Key facts

Type
Studio hotel apartment
Size
518 sqft
Floor
16th of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 10,300 /yr
Last sold
AED 1.23M · September 2020
Building
Paramount Tower Hotel & Residences Downtown

About 1605, Paramount Tower Hotel & Residences Downtown

1605 is a studio of 518 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 27 September 2020 for AED 1,229,000, or AED 2,374 per sqft, 3% above the AED 2,303 studios in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 1605 over time

Sales
Unit 1605, each saleTypical studio in Paramount Tower Hotel & Residences Downtown
750K1M1.25M2016201920222025Typical sale price by year: 2016 AED 1,200,000; 2017 AED 1,200,000; 2019 AED 1,179,500; 2020 AED 1,199,000; 2021 AED 1,100,000; 2022 AED 1,146,000; 2023 AED 1,295,000; 2024 AED 1,095,000; 2025 AED 936,139; 2026 AED 830,484Sold by developer, September 2020: AED 1,229,000 (AED 2,374 per sqft)

1605 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1605, each contractTypical studio in Paramount Tower Hotel & Residences Downtown
60K80K202220242026Typical rent by year: 2022 AED 55,000; 2023 AED 70,000; 2024 AED 84,000; 2025 AED 80,000; 2026 AED 70,000

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 1605 sits

All 203 studios →

1605 last sold in September 2020 at AED 2,374 per sqft, 3% above what studios in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 2,303). 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.

Recent studio salesUnit no.Price (AED)Summary
3 Jul 2026777,215
22 May 2026960,367
22 May 2026830,484
24 Feb 20261,295,000
7 studio 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
16031-bedAED 2.38M · Mar 2023
1604StudioAED 1.2M · Feb 2020
1606StudioAED 1.1M · Feb 2022
1607StudioAED 1.1M · Sep 2021
1608StudioAED 1.1M · Aug 2021
1–7 of 26

1605, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 27 September 2020 for AED 1,229,000, or AED 2,374 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 27 September 2020.

Questions about 1605, Paramount Tower Hotel & Residences Downtown

What did unit 1605 last sell for?

AED 1,229,000 on 27 September 2020, sold by the developer: AED 2,374 per sqft for 518 sqft. It is the only registered sale of the unit.

How big is unit 1605?

518 sqft (48.1 sqm): a studio on the 16th floor of a 63-storey tower completed in 2022.

What is unit 1605 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 1605, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 1.23M, 27 September 2020). Switch to today's estimate once you have unlocked it.
Price
AED 1,229,000
Deposit, UAE resident (20%)
AED 245,800
Deposit, non-resident (40%)
AED 491,600
Monthly over 25 years at 3.7%
AED 5,028

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