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1-bed · 1,053 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 16th floor · completed 2022

1615, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in May 2024, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1615 · DLD and Ejari recordsUpdated 3 May 2024
Last soldAED 2.4M3 May 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1615, Paramount Tower Hotel & Residences Downtown

What is 1615 worth today?

Last sold for AED 2,397,120 in 2024

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3 May 2024Sold by developerReady
AED 2,397,120AED 2,277 per sqft

Source: Dubai Land Department. Updated 3 May 2024.

Key facts

Type
1-bed hotel apartment
Size
1,053 sqft
Floor
16th of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 21,000 /yr
Last sold
AED 2.4M · May 2024
Building
Paramount Tower Hotel & Residences Downtown

About 1615, Paramount Tower Hotel & Residences Downtown

1615 is a one-bedroom hotel apartment of 1,053 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 3 May 2024 for AED 2,397,120, or AED 2,277 per sqft, in line with the AED 2,277 one-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 1615 over time

Sales
Unit 1615, 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, May 2024: AED 2,397,120 (AED 2,277 per sqft)

1615 has sold once; the dashed line is the one-bed median of each year in the building.

Rents
Unit 1615, 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 1615 sits

All 174 1-beds →

1615 last sold in May 2024 at AED 2,277 per sqft, in line with what one-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 2,277). 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
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

1615, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 3 May 2024 for AED 2,397,120, or AED 2,277 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 3 May 2024.

Questions about 1615, Paramount Tower Hotel & Residences Downtown

What did unit 1615 last sell for?

AED 2,397,120 on 3 May 2024, sold by the developer: AED 2,277 per sqft for 1,053 sqft. It is the only registered sale of the unit.

How big is unit 1615?

1,053 sqft (97.8 sqm): a one-bedroom hotel apartment on the 16th floor of a 63-storey tower completed in 2022.

What is unit 1615 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 1615, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 2.4M, 3 May 2024). Switch to today's estimate once you have unlocked it.
Price
AED 2,397,120
Deposit, UAE resident (20%)
AED 479,424
Deposit, non-resident (40%)
AED 958,848
Monthly over 25 years at 3.7%
AED 9,807

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