1601, Residence 22 (Formerly Fareed Tower)
Sold prices and rental history: sold twice, last in October 2024, and rented since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 1601, Residence 22 (Formerly Fareed Tower)
What is 1601 worth today?
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Source: Dubai Land Department. Updated 1 October 2024.
Key facts
- Type
- 4-bed apartment
- Size
- 4,922 sqft
- Floor
- 16th of 22
- Parking
- B1-15, B1-16
- Completed
- 2016
- Last sold
- AED 14.85M · October 2024
About 1601, Residence 22 (Formerly Fareed Tower)
1601 is a four-bedroom apartment of 4,922 sqft on the 16th floor of Residence 22 (Formerly Fareed Tower), a 22-storey tower in Business Bay completed in 2016. It last sold on 1 October 2024 for AED 14,848,000, or AED 3,016 per sqft, in line with the AED 3,018 four-beds in the building were fetching at the time.
It has been rented since 2017 on 3 Ejari contracts. The current contract, renewed on 1 August 2021, is AED 498,750 a year: a gross yield of 3.4% on the 2024 price.
Sales and rents for 1601 over time
1601 has sold twice; the dashed line is the four-bed median of each year in the building.
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 1601 sits
All 19 4-beds →1601 last sold in October 2024 at AED 3,016 per sqft, in line with what four-beds in Residence 22 (Formerly Fareed Tower) were fetching at the time (AED 3,018).
| Recent 4-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 8 May 20258 May 2025 | 4,781 sqft | 15,794,286 | 3,303 | ||
| 8 May 20258 May 2025 | 4,922 sqft | 16,260,068 | 3,303 | ||
| 8 May 20258 May 2025 | 4,922 sqft | 16,260,068 | 3,303 | ||
| 8 May 20258 May 2025 | 4,922 sqft | 16,260,068 | 3,303 |
Residence 22 (Formerly Fareed Tower)
Building23 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
1601, Residence 22 (Formerly Fareed Tower) in numbers
- Sold twice: first on 26 May 2022 for AED 9,053,794, last on 1 October 2024 for AED 14,848,000 (AED 3,016 per sqft).
- Rented since August 2017 on 3 Ejari contracts, from AED 475,000 to AED 498,750 a year.
- At AED 498,750 a year the gross yield on the 2024 price is 3.4%.
Source: Dubai Land Department. Updated 1 October 2024.
Questions about 1601, Residence 22 (Formerly Fareed Tower)
What did unit 1601 last sell for?
AED 14,848,000 on 1 October 2024: AED 3,016 per sqft for 4,922 sqft. The unit has 2 registered sales; the first was AED 9,053,794 in May 2022.
What is the rent for unit 1601?
AED 498,750 a year on the contract renewed on 1 August 2021. The previous contract, from August 2020, was AED 475,000; the unit has been rented since August 2017.
How big is unit 1601?
4,922 sqft (457.3 sqm): a four-bedroom apartment on the 16th floor of a 22-storey tower completed in 2016.
What is unit 1601 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 1601, Residence 22 (Formerly Fareed Tower)
Starts from the last sale price (AED 14.85M, 1 October 2024). Switch to today's estimate once you have unlocked it.- Price
- AED 14,848,000
- Deposit, UAE resident (20%)
- AED 2,969,600
- Deposit, non-resident (40%)
- AED 5,939,200
- Monthly over 25 years at 3.7%
- AED 60,748
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →