5506, Paramount Tower Hotel & Residences Downtown
Sold prices and rental history: sold once, by the developer in October 2021, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 5506, Paramount Tower Hotel & Residences Downtown
What is 5506 worth today?
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Source: Dubai Land Department. Updated 5 October 2021.
Key facts
- Type
- 3-bed apartment
- Size
- 1,586 sqft
- Floor
- 55th of 63
- Parking
- P1-22
- Developer
- Namaa Properties Development
- Completed
- 2022
- Service charge
- AED 31,600 /yr
- Last sold
- AED 2.7M · October 2021
About 5506, Paramount Tower Hotel & Residences Downtown
5506 is a three-bedroom apartment of 1,586 sqft on the 55th 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 5 October 2021 for AED 2,700,508, or AED 1,702 per sqft, 8% above the AED 1,581 three-beds in the building were fetching at the time.
No rental contract for the unit is registered on Ejari.
Sales and rents for 5506 over time
5506 has sold once; the dashed line is the three-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the three-bed median of each year in the building.
3-beds in Paramount Tower Hotel & Residences Downtown, and where 5506 sits
All 78 3-beds →5506 last sold in October 2021 at AED 1,702 per sqft, 8% above what three-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,581). Over the last 12 months three-beds sold for AED 2,742,651 to 3,490,000, around AED 1,763 per sqft, and rent for AED 72,000 to 270,000 a year.
| Recent 3-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 15 Oct 202615 October 2026 | 1,644 sqft | 2,742,651 | 1,668 | ||
| 9 Jun 20269 June 2026 | 1,644 sqft | 3,000,000 | 1,825 | ||
| 5 Jun 20265 June 2026 | 1,644 sqft | 2,794,398 | 1,700 | ||
| 5 Jan 20265 January 2026 | 1,645 sqft | 3,490,000 | 2,121 |
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 55th floor
All 784 units in Paramount Tower Hotel & Residences Downtown| ValueToday's value | |||||
|---|---|---|---|---|---|
| 5501 | 2-bed | 1,339 sqft | AED 2.5MAED 2,500,000 · Jun 2023June 2023 | 180,000 /yr | |
| 5502 | 2-bed | 1,167 sqft | AED 2.01MAED 2,008,407 · Nov 2021November 2021 | 190,000 /yr | |
| 5503 | 2-bed | 1,121 sqft | AED 3MAED 3,000,000 · Mar 2024March 2024 | ||
| 5504 | 2-bed | 1,121 sqft | AED 1.93MAED 1,929,241 · Sep 2021September 2021 | ||
| 5505 | 2-bed | 1,152 sqft | AED 2.08MAED 2,077,000 · Feb 2019February 2019 | 150,000 /yr | |
| 5507 | 3-bed | 1,645 sqft | AED 2.89MAED 2,890,000 · Oct 2023October 2023 | 195,000 /yr | |
| 5508 | 3-bed | 1,644 sqft | AED 2.9MAED 2,900,000 · Nov 2024November 2024 | 220,000 /yr | |
| 5509 | 2-bed | 1,221 sqft | AED 1.61MAED 1,605,800 · Oct 2020October 2020 | 175,000 /yr | |
| 5510 | 2-bed | 1,186 sqft | AED 1.57MAED 1,566,706 · Mar 2020March 2020 | 165,000 /yr | |
| 5511 | 2-bed | 1,290 sqft | AED 2.1MAED 2,100,000 · Nov 2023November 2023 | 165,000 /yr | |
| 5512 | 1-bed | 681 sqft | AED 1.7MAED 1,700,000 · Mar 2025March 2025 | 147,500 /yr | |
| 5513 | 1-bed | 679 sqft | AED 1.4MAED 1,400,000 · Oct 2026October 2026 | 110,000 /yr |
5506, Paramount Tower Hotel & Residences Downtown in numbers
- Sold once: by Namaa Properties Development on 5 October 2021 for AED 2,700,508, or AED 1,702 per sqft.
- Three-beds in Paramount Tower Hotel & Residences Downtown sold for AED 2,742,651–3,490,000 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 October 2021.
Questions about 5506, Paramount Tower Hotel & Residences Downtown
What did unit 5506 last sell for?
AED 2,700,508 on 5 October 2021, sold by the developer: AED 1,702 per sqft for 1,586 sqft. It is the only registered sale of the unit.
How big is unit 5506?
1,586 sqft (147.3 sqm): a three-bedroom apartment on the 55th floor of a 63-storey tower completed in 2022.
What is unit 5506 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in Paramount Tower Hotel & Residences Downtown sold for AED 2,742,651 to 3,490,000 in the last 12 months, around AED 1,763 per sqft.
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Mortgage on 5506, Paramount Tower Hotel & Residences Downtown
Starts from the last sale price (AED 2.7M, 5 October 2021). Switch to today's estimate once you have unlocked it.- Price
- AED 2,700,508
- Deposit, UAE resident (20%)
- AED 540,102
- Deposit, non-resident (40%)
- AED 1,080,203
- Monthly over 25 years at 3.7%
- AED 11,049
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →