5603, Paramount Tower Hotel & Residences Downtown
Sold prices and rental history: sold twice, last in March 2023, and rented once, from April 2024. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 5603, Paramount Tower Hotel & Residences Downtown
What is 5603 worth today?
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Source: Dubai Land Department. Updated 15 April 2024.
Key facts
- Type
- 2-bed apartment
- Size
- 1,121 sqft
- Floor
- 56th of 63
- Parking
- P4-24
- Developer
- Namaa Properties Development
- Completed
- 2022
- Service charge
- AED 22,300 /yr
- Last sold
- AED 2.1M · March 2023
About 5603, Paramount Tower Hotel & Residences Downtown
5603 is a two-bedroom apartment of 1,121 sqft on the 56th 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 13 March 2023 for AED 2,100,000, or AED 1,872 per sqft, 13% above the AED 1,655 two-beds in the building were fetching at the time.
One Ejari contract is registered, from 15 April 2024. The current contract, signed on 15 April 2024, is AED 190,000 a year: a gross yield of 9.0% on the 2023 price, before the service charge of about AED 22,300 a year.
Sales and rents for 5603 over time
5603 has sold twice; 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 5603 sits
All 329 2-beds →5603 last sold in March 2023 at AED 1,872 per sqft, 13% above what two-beds in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 1,655). 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. 5603's AED 190,000 is in the upper 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 56th floor
All 784 units in Paramount Tower Hotel & Residences Downtown| ValueToday's value | |||||
|---|---|---|---|---|---|
| 5601 | 2-bed | 1,339 sqft | AED 2.6MAED 2,600,000 · Jan 2025January 2025 | ||
| 5602 | 2-bed | 1,167 sqft | AED 2.2MAED 2,200,000 · Jul 2023July 2023 | ||
| 5604 | 2-bed | 1,121 sqft | AED 2.69MAED 2,688,000 · Apr 2016April 2016 | ||
| 5605 | 2-bed | 1,166 sqft | AED 3.01MAED 3,011,550 · Oct 2015October 2015 | 141,750 /yr | |
| 5606 | 3-bed | 1,586 sqft | AED 2.72MAED 2,720,000 · Jun 2023June 2023 | 200,000 /yr | |
| 5607 | 2-bed | 1,176 sqft | AED 2.3MAED 2,299,434 · May 2024May 2024 | ||
| 5608 | 3-bed | 822 sqft | AED 1.67MAED 1,674,243 · Jun 2024June 2024 | ||
| 5609 | 2-bed | 1,221 sqft | AED 1.61MAED 1,609,500 · Oct 2020October 2020 | ||
| 5610 | 2-bed | 1,186 sqft | AED 2.51MAED 2,513,700 · Dec 2015December 2015 | 175,000 /yr | |
| 5611 | 2-bed | 1,290 sqft | AED 2.01MAED 2,006,400 · Jun 2021June 2021 | 160,000 /yr | |
| 5612 | 1-bed | 681 sqft | AED 1.4MAED 1,400,000 · Oct 2024October 2024 | ||
| 5613 | 1-bed | 679 sqft | AED 1.1MAED 1,100,000 · Oct 2022October 2022 | ||
| 5607A | Studio | 466 sqft | AED 927KAED 927,000 · Jun 2019June 2019 | 70,000 /yr |
5603, Paramount Tower Hotel & Residences Downtown in numbers
- Sold twice: first on 28 October 2015 for AED 2,411,100, last on 13 March 2023 for AED 2,100,000 (AED 1,872 per sqft).
- Rented since April 2024 on one Ejari contract, at AED 190,000 a year.
- At AED 190,000 a year the gross yield on the 2023 price is 9.0%, before a service charge of about AED 22,300 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 15 April 2024.
Questions about 5603, Paramount Tower Hotel & Residences Downtown
What did unit 5603 last sell for?
AED 2,100,000 on 13 March 2023: AED 1,872 per sqft for 1,121 sqft. The unit has 2 registered sales; the first was AED 2,411,100 in October 2015.
What is the rent for unit 5603?
AED 190,000 a year on the contract signed on 15 April 2024.
How big is unit 5603?
1,121 sqft (104.1 sqm): a two-bedroom apartment on the 56th floor of a 63-storey tower completed in 2022.
What is unit 5603 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 5603, Paramount Tower Hotel & Residences Downtown
Starts from the last sale price (AED 2.1M, 13 March 2023). Switch to today's estimate once you have unlocked it.- Price
- AED 2,100,000
- Deposit, UAE resident (20%)
- AED 420,000
- Deposit, non-resident (40%)
- AED 840,000
- Monthly over 25 years at 3.7%
- AED 8,592
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →