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1-bed · 862 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 23rd floor · completed 2022

2302, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold twice, last in July 2023, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2302 · DLD and Ejari recordsUpdated 11 July 2023
Last soldAED 1.28M11 July 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2302, Paramount Tower Hotel & Residences Downtown

What is 2302 worth today?

Last sold for AED 1,282,560 in 2023

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11 Jul 2023SoldReady
AED 1,282,560AED 1,487 per sqft
16 May 2019Sold by developerOff-plan
AED 1,719,000AED 1,993 per sqft

Source: Dubai Land Department. Updated 11 July 2023.

Key facts

Type
1-bed hotel apartment
Size
862 sqft
Floor
23rd of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 17,200 /yr
Last sold
AED 1.28M · July 2023
Building
Paramount Tower Hotel & Residences Downtown

About 2302, Paramount Tower Hotel & Residences Downtown

2302 is a one-bedroom hotel apartment of 862 sqft on the 23rd floor of Paramount Tower Hotel & Residences Downtown, a 63-storey tower in Business Bay completed in 2022 by Namaa Properties Development. It last sold on 11 July 2023 for AED 1,282,560, or AED 1,487 per sqft, 37% below the AED 2,360 one-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 2302 over time

Sales
Unit 2302, 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, May 2019: AED 1,719,000 (AED 1,993 per sqft)Sold, July 2023: AED 1,282,560 (AED 1,487 per sqft)

2302 has sold twice; the dashed line is the one-bed median of each year in the building.

Rents
Unit 2302, 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 2302 sits

All 174 1-beds →

2302 last sold in July 2023 at AED 1,487 per sqft, 37% below what one-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 2,360). 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 23rd floor

All 784 units in Paramount Tower Hotel & Residences Downtown
Value
23011-bedAED 1.26M · Nov 2022
23031-bedAED 2.38M · Sep 2022
2304StudioAED 1.15M · Jan 2020
2305StudioAED 847K · Nov 2022
2306StudioAED 1.3M · Jun 2022
2307StudioAED 1.2M · Aug 2016
2308StudioAED 1.2M · May 2017
1–7 of 26

2302, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold twice: first on 16 May 2019 for AED 1,719,000, last on 11 July 2023 for AED 1,282,560 (AED 1,487 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 11 July 2023.

Questions about 2302, Paramount Tower Hotel & Residences Downtown

What did unit 2302 last sell for?

AED 1,282,560 on 11 July 2023: AED 1,487 per sqft for 862 sqft. The unit has 2 registered sales; the first was AED 1,719,000 in May 2019.

How big is unit 2302?

862 sqft (80.1 sqm): a one-bedroom hotel apartment on the 23rd floor of a 63-storey tower completed in 2022.

What is unit 2302 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 2302, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 1.28M, 11 July 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,282,560
Deposit, UAE resident (20%)
AED 256,512
Deposit, non-resident (40%)
AED 513,024
Monthly over 25 years at 3.7%
AED 5,247

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