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1-bed · 1,049 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 24th floor · completed 2022

2424, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in November 2022, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2424 · DLD and Ejari recordsUpdated 17 November 2022
Last soldAED 1.5M17 November 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2424, Paramount Tower Hotel & Residences Downtown

What is 2424 worth today?

Last sold for AED 1,499,550 in 2022

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17 Nov 2022Sold by developerReady
AED 1,499,550AED 1,428 per sqft

Source: Dubai Land Department. Updated 17 November 2022.

Key facts

Type
1-bed hotel apartment
Size
1,049 sqft
Floor
24th of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 20,900 /yr
Last sold
AED 1.5M · November 2022
Building
Paramount Tower Hotel & Residences Downtown

About 2424, Paramount Tower Hotel & Residences Downtown

2424 is a one-bedroom hotel apartment of 1,049 sqft on the 24th 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 17 November 2022 for AED 1,499,550, or AED 1,428 per sqft, 20% below the AED 1,795 one-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 2424 over time

Sales
Unit 2424, 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 2022: AED 1,499,550 (AED 1,428 per sqft)

2424 has sold once; the dashed line is the one-bed median of each year in the building.

Rents
Unit 2424, 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 2424 sits

All 174 1-beds →

2424 last sold in November 2022 at AED 1,428 per sqft, 20% below what one-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,795). 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 24th floor

All 784 units in Paramount Tower Hotel & Residences Downtown
Value
24011-bedAED 2.09M · Aug 2022
24021-bedAED 1.54M · Feb 2021
24031-bedAED 2.38M · Sep 2022
2404StudioAED 889K · Sep 2019
2405StudioAED 1.2M · Mar 2020
2406StudioAED 1.5M · Aug 2016
2407StudioAED 1.2M · Nov 2019
1–7 of 26

2424, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 17 November 2022 for AED 1,499,550, or AED 1,428 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 17 November 2022.

Questions about 2424, Paramount Tower Hotel & Residences Downtown

What did unit 2424 last sell for?

AED 1,499,550 on 17 November 2022, sold by the developer: AED 1,428 per sqft for 1,049 sqft. It is the only registered sale of the unit.

How big is unit 2424?

1,049 sqft (97.5 sqm): a one-bedroom hotel apartment on the 24th floor of a 63-storey tower completed in 2022.

What is unit 2424 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 2424, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 1.5M, 17 November 2022). Switch to today's estimate once you have unlocked it.
Price
AED 1,499,550
Deposit, UAE resident (20%)
AED 299,910
Deposit, non-resident (40%)
AED 599,820
Monthly over 25 years at 3.7%
AED 6,135

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