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2-bed · 1,356 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 16th floor · completed 2022

1614, 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 1614 · DLD and Ejari recordsUpdated 20 August 2022
Last soldAED 3.09M20 August 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1614, Paramount Tower Hotel & Residences Downtown

What is 1614 worth today?

Last sold for AED 3,091,000 in 2022

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20 Aug 2022Sold by developerReady
AED 3,091,000AED 2,279 per sqft

Source: Dubai Land Department. Updated 20 August 2022.

Key facts

Type
2-bed hotel apartment
Size
1,356 sqft
Floor
16th of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 27,000 /yr
Last sold
AED 3.09M · August 2022
Building
Paramount Tower Hotel & Residences Downtown

About 1614, Paramount Tower Hotel & Residences Downtown

1614 is a two-bedroom hotel apartment of 1,356 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 20 August 2022 for AED 3,091,000, or AED 2,279 per sqft, 42% above the AED 1,604 two-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 1614 over time

Sales
Unit 1614, each saleTypical two-bed in Paramount Tower Hotel & Residences Downtown
2M3M20152018202120242027Typical sale price by year: 2015 AED 2,242,950; 2016 AED 2,208,745; 2017 AED 2,214,000; 2018 AED 2,293,890; 2019 AED 2,144,000; 2020 AED 1,660,497; 2021 AED 1,965,408; 2022 AED 2,000,050; 2023 AED 2,150,000; 2024 AED 2,350,000; 2025 AED 2,400,000; 2026 AED 2,550,000Sold by developer, August 2022: AED 3,091,000 (AED 2,279 per sqft)

1614 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1614, each contractTypical two-bed in Paramount Tower Hotel & Residences Downtown
125K150K175K202220242026Typical rent by year: 2022 AED 120,000; 2023 AED 140,000; 2024 AED 166,500; 2025 AED 175,000; 2026 AED 155,000

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

2-beds in Paramount Tower Hotel & Residences Downtown, and where 1614 sits

All 329 2-beds →

1614 last sold in August 2022 at AED 2,279 per sqft, 42% above what two-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,604). Over the last 12 months two-beds sold for AED 2,250,000 to 3,200,000, around AED 2,016 per sqft, and rent for AED 100,000 to 220,000 a year.

Recent 2-bed salesUnit no.Price (AED)Summary
7 Sep 20262,350,000
13 Aug 20262,725,000
25 Jun 20263,200,000
6 May 20262,800,000
14 2-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
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
1–7 of 26

1614, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 20 August 2022 for AED 3,091,000, or AED 2,279 per sqft.
  • Two-beds in Paramount Tower Hotel & Residences Downtown sold for AED 2,250,000–3,200,000 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 20 August 2022.

Questions about 1614, Paramount Tower Hotel & Residences Downtown

What did unit 1614 last sell for?

AED 3,091,000 on 20 August 2022, sold by the developer: AED 2,279 per sqft for 1,356 sqft. It is the only registered sale of the unit.

How big is unit 1614?

1,356 sqft (126.0 sqm): a two-bedroom hotel apartment on the 16th floor of a 63-storey tower completed in 2022.

What is unit 1614 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Paramount Tower Hotel & Residences Downtown sold for AED 2,250,000 to 3,200,000 in the last 12 months, around AED 2,016 per sqft.

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Mortgage on 1614, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 3.09M, 20 August 2022). Switch to today's estimate once you have unlocked it.
Price
AED 3,091,000
Deposit, UAE resident (20%)
AED 618,200
Deposit, non-resident (40%)
AED 1,236,400
Monthly over 25 years at 3.7%
AED 12,646

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