5508, Paramount Tower Hotel & Residences Downtown
Sold prices and rental history: sold twice, last in November 2024, and rented since 2025. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 5508, Paramount Tower Hotel & Residences Downtown
What is 5508 worth today?
Unlock today's estimate, updated daily, with
Verify once to see valuations for every property. Everything else on this page is open.
Source: Dubai Land Department. Updated 10 March 2025.
Key facts
- Type
- 3-bed apartment
- Size
- 1,644 sqft
- Floor
- 55th of 63
- Parking
- P1-24
- Developer
- Namaa Properties Development
- Completed
- 2022
- Service charge
- AED 32,800 /yr
- Last sold
- AED 2.9M · November 2024
About 5508, Paramount Tower Hotel & Residences Downtown
5508 is a three-bedroom apartment of 1,644 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. It last sold on 1 November 2024 for AED 2,900,000, or AED 1,764 per sqft, in line with the AED 1,775 three-beds in the building were fetching at the time.
It has been rented since 2025 on 2 Ejari contracts. The current contract, signed on 10 March 2025, is AED 220,000 a year: a gross yield of 7.6% on the 2024 price, before the service charge of about AED 32,800 a year.
Sales and rents for 5508 over time
5508 has sold twice; 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 5508 sits
All 78 3-beds →5508 last sold in November 2024 at AED 1,764 per sqft, in line with what three-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,775). 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. 5508's AED 220,000 is in the upper half of that range.
| 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 | |
| 5506 | 3-bed | 1,586 sqft | AED 2.7MAED 2,700,508 · Oct 2021October 2021 | ||
| 5507 | 3-bed | 1,645 sqft | AED 2.89MAED 2,890,000 · Oct 2023October 2023 | 195,000 /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 |
5508, Paramount Tower Hotel & Residences Downtown in numbers
- Sold twice: first on 28 October 2015 for AED 3,503,600, last on 1 November 2024 for AED 2,900,000 (AED 1,764 per sqft).
- Rented since March 2025 on 2 Ejari contracts, at AED 220,000 a year.
- At AED 220,000 a year the gross yield on the 2024 price is 7.6%, before a service charge of about AED 32,800 a year (AED 19.93 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 10 March 2025.
Questions about 5508, Paramount Tower Hotel & Residences Downtown
What did unit 5508 last sell for?
AED 2,900,000 on 1 November 2024: AED 1,764 per sqft for 1,644 sqft. The unit has 2 registered sales; the first was AED 3,503,600 in October 2015.
What is the rent for unit 5508?
AED 220,000 a year on the contract signed on 10 March 2025. The previous contract, from March 2025, was AED 220,000.
How big is unit 5508?
1,644 sqft (152.7 sqm): a three-bedroom apartment on the 55th floor of a 63-storey tower completed in 2022.
What is unit 5508 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.
Selling 5508? Put it on the OpenOffers board
Public offers from verified, deposit-backed buyers; a reserve you set; no fee unless it sells, then 1%. Sale agreed in weeks, not months.
Mortgage on 5508, Paramount Tower Hotel & Residences Downtown
Starts from the last sale price (AED 2.9M, 1 November 2024). Switch to today's estimate once you have unlocked it.- Price
- AED 2,900,000
- Deposit, UAE resident (20%)
- AED 580,000
- Deposit, non-resident (40%)
- AED 1,160,000
- Monthly over 25 years at 3.7%
- AED 11,865
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →