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1-bed · 862 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 22nd floor · completed 2022

2202, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in February 2021, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2202 · DLD and Ejari recordsUpdated 14 February 2021
Last soldAED 1.54M14 February 2021
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2202, Paramount Tower Hotel & Residences Downtown

What is 2202 worth today?

Last sold for AED 1,538,000 in 2021

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14 Feb 2021Sold by developerOff-plan
AED 1,538,000AED 1,783 per sqft

Source: Dubai Land Department. Updated 14 February 2021.

Key facts

Type
1-bed hotel apartment
Size
862 sqft
Floor
22nd of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 17,200 /yr
Last sold
AED 1.54M · February 2021
Building
Paramount Tower Hotel & Residences Downtown

About 2202, Paramount Tower Hotel & Residences Downtown

2202 is a one-bedroom hotel apartment of 862 sqft on the 22nd 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 February 2021 for AED 1,538,000, or AED 1,783 per sqft, 4% below the AED 1,850 one-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 2202 over time

Sales
Unit 2202, 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, February 2021: AED 1,538,000 (AED 1,783 per sqft)

2202 has sold once; the dashed line is the one-bed median of each year in the building.

Rents
Unit 2202, 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 2202 sits

All 174 1-beds →

2202 last sold in February 2021 at AED 1,783 per sqft, 4% below what one-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,850). 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 22nd floor

All 784 units in Paramount Tower Hotel & Residences Downtown
Value
22011-bedAED 2.09M · Aug 2022
22031-bedAED 1.54M · Nov 2019
2204StudioAED 946K · Apr 2019
2205StudioAED 1.2M · Jan 2017
2206StudioAED 1.2M · Dec 2016
2207StudioAED 1.15M · May 2022
2208StudioAED 1.1M · Oct 2021
1–7 of 26

2202, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 14 February 2021 for AED 1,538,000, or AED 1,783 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 February 2021.

Questions about 2202, Paramount Tower Hotel & Residences Downtown

What did unit 2202 last sell for?

AED 1,538,000 on 14 February 2021, sold by the developer: AED 1,783 per sqft for 862 sqft. It is the only registered sale of the unit.

How big is unit 2202?

862 sqft (80.1 sqm): a one-bedroom hotel apartment on the 22nd floor of a 63-storey tower completed in 2022.

What is unit 2202 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 2202, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 1.54M, 14 February 2021). Switch to today's estimate once you have unlocked it.
Price
AED 1,538,000
Deposit, UAE resident (20%)
AED 307,600
Deposit, non-resident (40%)
AED 615,200
Monthly over 25 years at 3.7%
AED 6,292

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