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1-bed · 1,000 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 22nd floor · completed 2022

2203, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in November 2019, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2203 · DLD and Ejari recordsUpdated 6 November 2019
Last soldAED 1.54M6 November 2019
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2203, Paramount Tower Hotel & Residences Downtown

What is 2203 worth today?

Last sold for AED 1,540,000 in 2019

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6 Nov 2019Sold by developerOff-plan
AED 1,540,000AED 1,540 per sqft

Source: Dubai Land Department. Updated 6 November 2019.

Key facts

Type
1-bed hotel apartment
Size
1,000 sqft
Floor
22nd of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 19,900 /yr
Last sold
AED 1.54M · November 2019
Building
Paramount Tower Hotel & Residences Downtown

About 2203, Paramount Tower Hotel & Residences Downtown

2203 is a one-bedroom hotel apartment of 1,000 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 6 November 2019 for AED 1,540,000, or AED 1,540 per sqft, 13% below the AED 1,772 one-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 2203 over time

Sales
Unit 2203, 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, November 2019: AED 1,540,000 (AED 1,540 per sqft)

2203 has sold once; the dashed line is the one-bed median of each year in the building.

Rents
Unit 2203, 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 2203 sits

All 174 1-beds →

2203 last sold in November 2019 at AED 1,540 per sqft, 13% below what one-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,772). 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
22021-bedAED 1.54M · Feb 2021
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

2203, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 6 November 2019 for AED 1,540,000, or AED 1,540 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 6 November 2019.

Questions about 2203, Paramount Tower Hotel & Residences Downtown

What did unit 2203 last sell for?

AED 1,540,000 on 6 November 2019, sold by the developer: AED 1,540 per sqft for 1,000 sqft. It is the only registered sale of the unit.

How big is unit 2203?

1,000 sqft (92.9 sqm): a one-bedroom hotel apartment on the 22nd floor of a 63-storey tower completed in 2022.

What is unit 2203 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 2203, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 1.54M, 6 November 2019). Switch to today's estimate once you have unlocked it.
Price
AED 1,540,000
Deposit, UAE resident (20%)
AED 308,000
Deposit, non-resident (40%)
AED 616,000
Monthly over 25 years at 3.7%
AED 6,301

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