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4-bed · 4,922 sqftResidence 22 (Formerly Fareed Tower), Business Bay · 15th floor · completed 2016

1501, Residence 22 (Formerly Fareed Tower)

Sold prices and rental history: sold 3 times, last in May 2025, and rented continuously since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1501 · DLD and Ejari recordsUpdated 8 May 2025
Last soldAED 16.26M8 May 2025
Current rentAED 729K /yr21 February 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1501, Residence 22 (Formerly Fareed Tower)

What is 1501 worth today?

Last sold for AED 16,260,068 in 2025

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8 May 2025SoldReady
AED 16,260,068AED 3,303 per sqft
1 Oct 2024SoldReady
AED 14,848,000AED 3,016 per sqft
21 Feb 2023RentedNew contract
AED 729,362/yr7 months · AED 148 per sqft
26 May 2022Sold by developerReady
AED 9,053,794AED 1,839 per sqft
21 Feb 2022RentedRenewal
AED 517,500/yr12 months · AED 105 per sqft
21 Feb 2021RentedNew contract
AED 450,000/yr12 months · AED 91 per sqft
5 Jul 2019RentedRenewal
AED 522,500/yr12 months · AED 109 per sqft
5 Sep 2018RentedRenewal
AED 549,600/yr10 months · AED 114 per sqft

Source: Dubai Land Department. Updated 8 May 2025.

Key facts

Type
4-bed apartment
Size
4,922 sqft
Floor
15th of 22
Parking
B2-05,B2-06
Completed
2016
Last sold
AED 16.26M · May 2025
Building
Residence 22 (Formerly Fareed Tower)

About 1501, Residence 22 (Formerly Fareed Tower)

1501 is a four-bedroom apartment of 4,922 sqft on the 15th floor of Residence 22 (Formerly Fareed Tower), a 22-storey tower in Business Bay completed in 2016. It last sold on 8 May 2025 for AED 16,260,068, or AED 3,303 per sqft, 9% above the AED 3,018 four-beds in the building were fetching at the time.

It has been rented continuously since 2017 on 7 Ejari contracts. The current contract, signed on 21 February 2023, is AED 729,362 a year: a gross yield of 4.5% on the 2025 price.

Sales and rents for 1501 over time

Sales
Unit 1501, each saleTypical four-bed in Residence 22 (Formerly Fareed Tower)
10M15M20222023202420252026Typical sale price by year: 2022 AED 8,794,545; 2024 AED 14,432,000; 2025 AED 16,027,177Sold by developer, May 2022: AED 9,053,794 (AED 1,839 per sqft)Sold, October 2024: AED 14,848,000 (AED 3,016 per sqft)Sold, May 2025: AED 16,260,068 (AED 3,303 per sqft)

1501 has sold 3 times; the dashed line is the four-bed median of each year in the building.

Rents
Unit 1501, each contractTypical four-bed in Residence 22 (Formerly Fareed Tower)
400K600K2017201920212023Typical rent by year: 2017 AED 465,000; 2018 AED 500,000; 2019 AED 475,000; 2020 AED 430,000; 2021 AED 470,000; 2022 AED 508,750; 2023 AED 650,000New contract, January 2017: AED 550,000 a yearRenewal, January 2018: AED 550,500 a yearRenewal, September 2018: AED 549,600 a yearRenewal, July 2019: AED 522,500 a yearNew contract, February 2021: AED 450,000 a yearRenewal, February 2022: AED 517,500 a yearNew contract, February 2023: AED 729,362 a year

Annual rent on each registered contract; the dashed line is the four-bed median of each year in the building.

4-beds in Residence 22 (Formerly Fareed Tower), and where 1501 sits

All 19 4-beds →

1501 last sold in May 2025 at AED 3,303 per sqft, 9% above what four-beds in Residence 22 (Formerly Fareed Tower) were fetching at the time (AED 3,018).

Recent 4-bed salesUnit no.Price (AED)Summary
8 May 202515,794,286
8 May 202516,260,068
8 May 202516,260,068
24 Apr 202515,794,286
0 4-bed sales in the last 12 months

Residence 22 (Formerly Fareed Tower)

Building

23 apartments, studios to 4-bed over 22 floors in Business Bay, completed in 2016. No sale in the last 12 months.

Typical price per sqft
Few sales
Typical sale
Few sales
Typical rent
AED 1.4M /yr
Typical yield
Residence 22 (Formerly Fareed Tower), Business Bay: prices, sales and rents →

1501, Residence 22 (Formerly Fareed Tower) in numbers

  • Sold 3 times: first on 26 May 2022 for AED 9,053,794, last on 8 May 2025 for AED 16,260,068 (AED 3,303 per sqft).
  • Rented since January 2017 on 7 Ejari contracts. The rent fell from AED 550,000 to AED 450,000 in 2021 and recovered to AED 729,362 by February 2023.
  • At AED 729,362 a year the gross yield on the 2025 price is 4.5%.

Source: Dubai Land Department. Updated 8 May 2025.

Questions about 1501, Residence 22 (Formerly Fareed Tower)

What did unit 1501 last sell for?

AED 16,260,068 on 8 May 2025: AED 3,303 per sqft for 4,922 sqft. The unit has 3 registered sales; the first was AED 9,053,794 in May 2022.

What is the rent for unit 1501?

AED 729,362 a year on the contract signed on 21 February 2023. The previous contract, from February 2022, was AED 517,500; the unit has been rented since January 2017.

How big is unit 1501?

4,922 sqft (457.3 sqm): a four-bedroom apartment on the 15th floor of a 22-storey tower completed in 2016.

What is unit 1501 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google.

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Mortgage on 1501, Residence 22 (Formerly Fareed Tower)

Starts from the last sale price (AED 16.26M, 8 May 2025). Switch to today's estimate once you have unlocked it.
Price
AED 16,260,068
Deposit, UAE resident (20%)
AED 3,252,014
Deposit, non-resident (40%)
AED 6,504,027
Monthly over 25 years at 3.7%
AED 66,525

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