5005, Paramount Tower Hotel & Residences Downtown
Sold prices and rental history: sold once, by the developer in July 2019, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 5005, Paramount Tower Hotel & Residences Downtown
What is 5005 worth today?
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Source: Dubai Land Department. Updated 5 August 2023.
Key facts
- Type
- 2-bed apartment
- Size
- 1,166 sqft
- Floor
- 50th of 63
- Parking
- P5-26
- Developer
- Namaa Properties Development
- Completed
- 2022
- Service charge
- AED 23,200 /yr
- Last sold
- AED 2.05M · July 2019
About 5005, Paramount Tower Hotel & Residences Downtown
5005 is a two-bedroom apartment of 1,166 sqft on the 50th 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 7 July 2019 for AED 2,054,000, or AED 1,762 per sqft, in line with the AED 1,801 two-beds in the building were fetching at the time.
It has been rented since 2022 on 2 Ejari contracts. The current contract, renewed on 5 August 2023, is AED 120,000 a year: a gross yield of 5.8% on the 2019 price, before the service charge of about AED 23,200 a year.
Sales and rents for 5005 over time
5005 has sold once; the dashed line is the two-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in Paramount Tower Hotel & Residences Downtown, and where 5005 sits
All 329 2-beds →5005 last sold in July 2019 at AED 1,762 per sqft, in line with what two-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,801). Over the last 12 months two-beds sold for AED 2,250,000 to 3,200,000, around AED 2,016 per sqft, and rent for AED 100,000 to 220,000 a year. 5005's AED 120,000 is in the lower half of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 7 Sep 20267 September 2026 | 1,167 sqft | 2,350,000 | 2,013 | ||
| 13 Aug 202613 August 2026 | 1,364 sqft | 2,725,000 | 1,997 | ||
| 25 Jun 202625 June 2026 | 1,364 sqft | 3,200,000 | 2,346 | ||
| 6 May 20266 May 2026 | 1,364 sqft | 2,800,000 | 2,052 |
Paramount Tower Hotel & Residences Downtown
Building784 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%
Other units on the 50th floor
All 784 units in Paramount Tower Hotel & Residences Downtown| ValueToday's value | |||||
|---|---|---|---|---|---|
| 5001 | 2-bed | 1,339 sqft | AED 2.21MAED 2,209,309 · Oct 2021October 2021 | 170,000 /yr | |
| 5002 | 2-bed | 1,167 sqft | AED 2.8MAED 2,800,000 · Jun 2024June 2024 | 165,000 /yr | |
| 5003 | 2-bed | 1,121 sqft | AED 1.87MAED 1,870,000 · Oct 2022October 2022 | 200,000 /yr | |
| 5004 | 2-bed | 1,121 sqft | AED 2.2MAED 2,199,250 · Nov 2015November 2015 | 165,000 /yr | |
| 5006 | 3-bed | 1,586 sqft | AED 3.16MAED 3,156,000 · Nov 2022November 2022 | ||
| 5007 | 3-bed | 1,645 sqft | AED 3.52MAED 3,521,650 · Jul 2016July 2016 | 200,000 /yr | |
| 5008 | 3-bed | 1,644 sqft | AED 2.43MAED 2,426,544 · Feb 2020February 2020 | 164,000 /yr | |
| 5009 | 2-bed | 1,221 sqft | AED 1.8MAED 1,800,000 · Oct 2022October 2022 | ||
| 5010 | 2-bed | 1,186 sqft | AED 2.27MAED 2,274,300 · Oct 2015October 2015 | 120,000 /yr | |
| 5011 | 2-bed | 1,290 sqft | AED 2.21MAED 2,212,320 · Feb 2022February 2022 | 116,652 /yr | |
| 5012 | 1-bed | 681 sqft | AED 1.5MAED 1,500,000 · Jul 2016July 2016 | ||
| 5013 | 1-bed | 663 sqft | AED 1.37MAED 1,366,200 · Sep 2018September 2018 | 95,000 /yr |
5005, Paramount Tower Hotel & Residences Downtown in numbers
- Sold once: by Namaa Properties Development on 7 July 2019 for AED 2,054,000, or AED 1,762 per sqft.
- Rented since August 2022 on 2 Ejari contracts, at AED 120,000 a year.
- At AED 120,000 a year the gross yield on the 2019 price is 5.8%, before a service charge of about AED 23,200 a year (AED 19.93 per sqft).
- Two-beds in Paramount Tower Hotel & Residences Downtown sold for AED 2,250,000–3,200,000 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 5 August 2023.
Questions about 5005, Paramount Tower Hotel & Residences Downtown
What did unit 5005 last sell for?
AED 2,054,000 on 7 July 2019, sold by the developer: AED 1,762 per sqft for 1,166 sqft. It is the only registered sale of the unit.
What is the rent for unit 5005?
AED 120,000 a year on the contract renewed on 5 August 2023. The previous contract, from August 2022, was AED 120,000.
How big is unit 5005?
1,166 sqft (108.3 sqm): a two-bedroom apartment on the 50th floor of a 63-storey tower completed in 2022.
What is unit 5005 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Paramount Tower Hotel & Residences Downtown sold for AED 2,250,000 to 3,200,000 in the last 12 months, around AED 2,016 per sqft.
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Mortgage on 5005, Paramount Tower Hotel & Residences Downtown
Starts from the last sale price (AED 2.05M, 7 July 2019). Switch to today's estimate once you have unlocked it.- Price
- AED 2,054,000
- Deposit, UAE resident (20%)
- AED 410,800
- Deposit, non-resident (40%)
- AED 821,600
- Monthly over 25 years at 3.7%
- AED 8,404
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →