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1-bed · 902 sqftVezul Residence, Business Bay · completed 2018

702, Vezul Residence

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

Unit 702 · DLD and Ejari recordsUpdated 25 August 2022
Last soldAED 1.13M25 August 2022
Current rentAED 85K /yr1 July 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 702, Vezul Residence

What is 702 worth today?

Last sold for AED 1,130,050 in 2022

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25 Aug 2022Sold by developerReady
AED 1,130,050AED 1,253 per sqft
1 Jul 2022RentedNew contract
AED 85,000/yr12 months · AED 94 per sqft
22 Mar 2021RentedNew contract
AED 69,000/yr13 months · AED 77 per sqft
1 Nov 2019RentedNew contract
AED 66,300/yr12 months · AED 74 per sqft

Source: Dubai Land Department. Updated 25 August 2022.

Key facts

Type
1-bed apartment
Size
902 sqft
Parking
B1-79
Completed
2018
Service charge
AED 14,800 /yr
Last sold
AED 1.13M · August 2022
Building
Vezul Residence

About 702, Vezul Residence

702 is a one-bedroom apartment of 902 sqft of Vezul Residence, a 17-storey tower in Business Bay completed in 2018. The developer sold it on 25 August 2022 for AED 1,130,050, or AED 1,253 per sqft, 13% above the AED 1,108 one-beds in the building were fetching at the time.

It has been rented since 2019 on 3 Ejari contracts. The current contract, signed on 1 July 2022, is AED 85,000 a year: a gross yield of 7.5% on the 2022 price, before the service charge of about AED 14,800 a year.

Sales and rents for 702 over time

Sales
Unit 702, each saleTypical one-bed in Vezul Residence
1M1.25M2021202320252027Typical sale price by year: 2021 AED 950,000; 2022 AED 1,125,000; 2023 AED 1,155,000; 2024 AED 1,412,500; 2025 AED 1,400,000; 2026 AED 1,345,000Sold by developer, August 2022: AED 1,130,050 (AED 1,253 per sqft)

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

Rents
Unit 702, each contractTypical one-bed in Vezul Residence
80K20192021202320252027Typical rent by year: 2019 AED 69,700; 2020 AED 73,000; 2021 AED 69,000; 2022 AED 75,900; 2023 AED 85,000; 2024 AED 90,000; 2025 AED 90,000; 2026 AED 85,500New contract, November 2019: AED 66,300 a yearNew contract, March 2021: AED 69,000 a yearNew contract, July 2022: AED 85,000 a year

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

1-beds in Vezul Residence, and where 702 sits

All 64 1-beds →

702 last sold in August 2022 at AED 1,253 per sqft, 13% above what one-beds in Vezul Residence were fetching at the time (AED 1,108). Over the last 12 months one-beds sold for AED 1,150,000 to 1,550,000, around AED 1,449 per sqft, and rent for AED 75,000 to 140,700 a year. 702's AED 85,000 is in the lower half of that range.

Recent 1-bed salesUnit no.Price (AED)Summary
8 Oct 20261,240,000
4 Sep 20261,290,000
8 Jun 20261,400,000
3 Jun 20261,150,000
6 1-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 →

702, Vezul Residence in numbers

  • Sold once: by the developer on 25 August 2022 for AED 1,130,050, or AED 1,253 per sqft.
  • Rented since November 2019 on 3 Ejari contracts, from AED 66,300 to AED 85,000 a year.
  • At AED 85,000 a year the gross yield on the 2022 price is 7.5%, before a service charge of about AED 14,800 a year (AED 16.38 per sqft).
  • One-beds in Vezul Residence sold for AED 1,150,000–1,550,000 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 25 August 2022.

Questions about 702, Vezul Residence

What did unit 702 last sell for?

AED 1,130,050 on 25 August 2022, sold by the developer: AED 1,253 per sqft for 902 sqft. It is the only registered sale of the unit.

What is the rent for unit 702?

AED 85,000 a year on the contract signed on 1 July 2022. The previous contract, from March 2021, was AED 69,000; the unit has been rented since November 2019.

How big is unit 702?

902 sqft (83.8 sqm): a one-bedroom apartment of a 17-storey tower completed in 2018.

What is unit 702 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. One-beds in Vezul Residence sold for AED 1,150,000 to 1,550,000 in the last 12 months, around AED 1,449 per sqft.

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Mortgage on 702, Vezul Residence

Starts from the last sale price (AED 1.13M, 25 August 2022). Switch to today's estimate once you have unlocked it.
Price
AED 1,130,050
Deposit, UAE resident (20%)
AED 226,010
Deposit, non-resident (40%)
AED 452,020
Monthly over 25 years at 3.7%
AED 4,623

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