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2-bed · 890 sqftVera Residences, Business Bay · 12th floor · completed 2022

1202, Vera Residences

Sold prices and rental history: sold once, by the developer in February 2018, and rented since 2023. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1202 · DLD and Ejari recordsUpdated 12 June 2024
Last soldAED 1.24M20 February 2018
Current rentAED 110K /yr12 June 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1202, Vera Residences

What is 1202 worth today?

Last sold for AED 1,236,000 in 2018

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12 Jun 2024RentedNew contract
AED 110,000/yr24 months · AED 123 per sqft
16 Jan 2023RentedNew contract
AED 95,000/yr12 months · AED 106 per sqft
20 Feb 2018Sold by developerOff-plan
AED 1,236,000AED 1,388 per sqft

Source: Dubai Land Department. Updated 12 June 2024.

Key facts

Type
2-bed apartment
Size
890 sqft
Floor
12th of 28
Parking
P1-089
Developer
DAMAC
Completed
2022
Service charge
AED 19,600 /yr
Last sold
AED 1.24M · February 2018
Building
Vera Residences

About 1202, Vera Residences

1202 is a two-bedroom apartment of 890 sqft on the 12th floor of Vera Residences, a 28-storey tower in Business Bay completed in 2022 by DAMAC. The developer sold it on 20 February 2018 for AED 1,236,000, or AED 1,388 per sqft, 4% above the AED 1,330 two-beds in the building were fetching at the time.

It has been rented since 2023 on 2 Ejari contracts. The current contract, signed on 12 June 2024, is AED 110,000 a year: a gross yield of 8.9% on the 2018 price, before the service charge of about AED 19,600 a year.

Sales and rents for 1202 over time

Sales
Unit 1202, each saleTypical two-bed in Vera Residences
1.2M1.4M1.6M2018202120242027Typical sale price by year: 2018 AED 1,233,000; 2019 AED 1,286,500; 2020 AED 1,200,562; 2021 AED 1,263,000; 2022 AED 1,409,800; 2023 AED 1,450,000; 2024 AED 1,500,000; 2025 AED 1,540,000; 2026 AED 1,539,573Sold by developer, February 2018: AED 1,236,000 (AED 1,388 per sqft)

1202 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1202, each contractTypical two-bed in Vera Residences
90K100K110K202220242026Typical rent by year: 2022 AED 90,000; 2023 AED 99,375; 2024 AED 110,000; 2025 AED 110,000; 2026 AED 100,000New contract, January 2023: AED 95,000 a yearNew contract, June 2024: AED 110,000 a year

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

2-beds in Vera Residences, and where 1202 sits

All 225 2-beds →

1202 last sold in February 2018 at AED 1,388 per sqft, 4% above what two-beds in Vera Residences were fetching at the time (AED 1,330). Over the last 12 months two-beds sold for AED 500,000 to 2,118,000, around AED 1,707 per sqft, and rent for AED 45,000 to 140,700 a year. 1202's AED 110,000 is in the upper half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
29 Oct 20261,350,000
14 Sep 20261,546,373
26 Aug 20261,532,772
16 Jul 20261,513,848
12 2-bed sales in the last 12 months

Vera Residences

Building

522 apartments, studios to 2-bed over 28 floors in Business Bay, completed in 2022 by DAMAC. 25 sold in the last 12 months.

Typical price per sqft
AED 2,097 Down 4.6%
Typical sale
AED 1.2M
Typical rent
AED 82K /yr
Typical yield
6.1%
Vera Residences, Business Bay: prices, sales and rents →

Other units on the 12th floor

All 522 units in Vera Residences
Value
12012-bedAED 1.94M · Apr 2024
12031-bedAED 990K · Feb 2024
12042-bedAED 1.24M · Feb 2018
12052-bedAED 1.49M · Jul 2024
12062-bedAED 1.2M · Feb 2018
12072-bedAED 1.2M · Feb 2018
12082-bedAED 865K · Jun 2021
1–7 of 20

1202, Vera Residences in numbers

  • Sold once: by DAMAC on 20 February 2018 for AED 1,236,000, or AED 1,388 per sqft.
  • Rented since January 2023 on 2 Ejari contracts, from AED 95,000 to AED 110,000 a year.
  • At AED 110,000 a year the gross yield on the 2018 price is 8.9%, before a service charge of about AED 19,600 a year (AED 22.04 per sqft).
  • Two-beds in Vera Residences sold for AED 500,000–2,118,000 in the 12 months to November 2026; the building's median across all types is AED 2,097 per sqft.

Source: Dubai Land Department. Updated 12 June 2024.

Questions about 1202, Vera Residences

What did unit 1202 last sell for?

AED 1,236,000 on 20 February 2018, sold by the developer: AED 1,388 per sqft for 890 sqft. It is the only registered sale of the unit.

What is the rent for unit 1202?

AED 110,000 a year on the contract signed on 12 June 2024. The previous contract, from January 2023, was AED 95,000.

How big is unit 1202?

890 sqft (82.7 sqm): a two-bedroom apartment on the 12th floor of a 28-storey tower completed in 2022.

What is unit 1202 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Vera Residences sold for AED 500,000 to 2,118,000 in the last 12 months, around AED 1,707 per sqft.

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Mortgage on 1202, Vera Residences

Starts from the last sale price (AED 1.24M, 20 February 2018). Switch to today's estimate once you have unlocked it.
Price
AED 1,236,000
Deposit, UAE resident (20%)
AED 247,200
Deposit, non-resident (40%)
AED 494,400
Monthly over 25 years at 3.7%
AED 5,057

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