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2-bed · 1,388 sqftVezul Residence, Business Bay · completed 2018

506, Vezul Residence

Sold prices and rental history: sold once, by the developer in September 2022, and rented continuously since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 506 · DLD and Ejari recordsUpdated 9 September 2022
Last soldAED 1.33M9 September 2022
Current rentAED 94K /yr11 April 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 506, Vezul Residence

What is 506 worth today?

Last sold for AED 1,328,900 in 2022

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9 Sep 2022Sold by developerReady
AED 1,328,900AED 957 per sqft
11 Apr 2022RentedRenewal
AED 93,500/yr12 months · AED 67 per sqft
11 Mar 2022RentedRenewal
AED 69,600/yr1 months · AED 50 per sqft
11 Feb 2021RentedNew contract
AED 85,000/yr13 months · AED 61 per sqft
1 Oct 2019RentedNew contract
AED 90,000/yr12 months · AED 65 per sqft

Source: Dubai Land Department. Updated 9 September 2022.

Key facts

Type
2-bed apartment
Size
1,388 sqft
Parking
B1-99
Completed
2018
Service charge
AED 22,700 /yr
Last sold
AED 1.33M · September 2022
Building
Vezul Residence

About 506, Vezul Residence

506 is a two-bedroom apartment of 1,388 sqft of Vezul Residence, a 17-storey tower in Business Bay completed in 2018. The developer sold it on 9 September 2022 for AED 1,328,900, or AED 957 per sqft, 7% below the AED 1,034 two-beds in the building were fetching at the time.

It has been rented continuously since 2019 on 4 Ejari contracts. The current contract, renewed on 11 April 2022, is AED 93,500 a year: a gross yield of 7.0% on the 2022 price, before the service charge of about AED 22,700 a year.

Sales and rents for 506 over time

Sales
Unit 506, each saleTypical two-bed in Vezul Residence
1.5M2M20222023202420252026Typical sale price by year: 2022 AED 1,485,000; 2023 AED 1,593,945; 2024 AED 1,950,000; 2025 AED 1,950,000Sold by developer, September 2022: AED 1,328,900 (AED 957 per sqft)

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

Rents
Unit 506, each contractTypical two-bed in Vezul Residence
100K20192021202320252027Typical rent by year: 2019 AED 92,000; 2020 AED 89,000; 2021 AED 89,636; 2022 AED 104,000; 2023 AED 115,000; 2024 AED 135,000; 2025 AED 135,000; 2026 AED 127,500New contract, October 2019: AED 90,000 a yearNew contract, February 2021: AED 85,000 a yearRenewal, March 2022: AED 69,600 a yearRenewal, April 2022: AED 93,500 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 Vezul Residence, and where 506 sits

All 67 2-beds →

506 last sold in September 2022 at AED 957 per sqft, 7% below what two-beds in Vezul Residence were fetching at the time (AED 1,034). Over the last 12 months two-beds sold for AED 1,950,000 to 2,100,000, around AED 1,419 per sqft, and rent for AED 89,250 to 210,000 a year. 506's AED 93,500 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
21 May 20262,100,000
13 Nov 20251,950,000
6 Oct 20251,950,000
10 Jul 20251,900,000
2 2-bed sales in the last 12 months

Vezul Residence

Building

14 apartments, 1-bed to 3-bed over 17 floors in Business Bay, completed in 2018. 9 sold in the last 12 months.

Typical price per sqft
AED 1,404
Typical sale
AED 1.48M
Typical rent
AED 100K /yr
Typical yield
6.8%
Vezul Residence, Business Bay: prices, sales and rents →

506, Vezul Residence in numbers

  • Sold once: by the developer on 9 September 2022 for AED 1,328,900, or AED 957 per sqft.
  • Rented since October 2019 on 4 Ejari contracts. The rent fell from AED 90,000 to AED 69,600 in 2022 and recovered to AED 93,500 by April 2022.
  • At AED 93,500 a year the gross yield on the 2022 price is 7.0%, before a service charge of about AED 22,700 a year (AED 16.38 per sqft).
  • Two-beds in Vezul Residence sold for AED 1,950,000–2,100,000 in the 12 months to November 2026; the building's median across all types is AED 1,404 per sqft.

Source: Dubai Land Department. Updated 9 September 2022.

Questions about 506, Vezul Residence

What did unit 506 last sell for?

AED 1,328,900 on 9 September 2022, sold by the developer: AED 957 per sqft for 1,388 sqft. It is the only registered sale of the unit.

What is the rent for unit 506?

AED 93,500 a year on the contract renewed on 11 April 2022. The previous contract, from March 2022, was AED 69,600; the unit has been rented since October 2019.

How big is unit 506?

1,388 sqft (128.9 sqm): a two-bedroom apartment of a 17-storey tower completed in 2018.

What is unit 506 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Vezul Residence sold for AED 1,950,000 to 2,100,000 in the last 12 months, around AED 1,419 per sqft.

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Mortgage on 506, Vezul Residence

Starts from the last sale price (AED 1.33M, 9 September 2022). Switch to today's estimate once you have unlocked it.
Price
AED 1,328,900
Deposit, UAE resident (20%)
AED 265,780
Deposit, non-resident (40%)
AED 531,560
Monthly over 25 years at 3.7%
AED 5,437

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