701, The Residences 1 (W3)
Sold prices and rental history: sold once, by the developer in May 2008, and rented continuously since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 701, The Residences 1 (W3)
What is 701 worth today?
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Source: Dubai Land Department. Updated 17 January 2020.
Key facts
- Type
- 2-bed apartment
- Size
- 1,452 sqft
- Floor
- 7th of 38
- Parking
- L1-753
- Developer
- Emaar
- Completed
- 2007
- Service charge
- AED 31,300 /yr
- Last sold
- AED 557K · May 2008
- Building
- The Residences 1 (W3)
About 701, The Residences 1 (W3)
701 is a two-bedroom apartment of 1,452 sqft on the 7th floor of The Residences 1 (W3), a 38-storey tower in Downtown Dubai completed in 2007 by Emaar. The developer sold it on 6 May 2008 for AED 557,400, or AED 383 per sqft, 23% below the AED 500 two-beds in the building were fetching at the time.
It has been rented continuously since 2013 on 9 Ejari contracts. The current contract, signed on 17 January 2020, is AED 90,000 a year: a gross yield of 16.2% on the 2008 price, before the service charge of about AED 31,300 a year.
Sales and rents for 701 over time
No registered sale of 701; the dashed line is the two-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in The Residences 1 (W3), and where 701 sits
All 69 2-beds →701 last sold in May 2008 at AED 383 per sqft, 23% below what two-beds in The Residences 1 (W3) were fetching at the time (AED 500). Over the last 12 months two-beds sold for AED 3,800,000 to 5,200,000, around AED 2,651 per sqft, and rent for AED 156,839 to 280,000 a year. 701's AED 90,000 is at the bottom of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 9 Feb 20269 February 2026 | 1,629 sqft | 5,200,000 | 3,192 | ||
| 4 Feb 20264 February 2026 | 1,452 sqft | 3,850,000 | 2,651 | ||
| 30 Jan 202630 January 2026 | 1,452 sqft | 3,800,000 | 2,616 | ||
| 3 Jun 20253 June 2025 | 1,629 sqft | 3,765,037 | 2,311 |
The Residences 1 (W3)
Building185 apartments, 1-bed to 5-bed over 38 floors in Downtown Dubai, completed in 2007 by Emaar. 8 sold in the last 12 months.
- Typical price per sqft
- AED 2,958
- Typical sale
- AED 4.53M
- Typical rent
- AED 171K /yr
- Typical yield
- 4.2%
Other units on the 7th floor
All 185 units in The Residences 1 (W3)| ValueToday's value | |||||
|---|---|---|---|---|---|
| 702 | 3-bed | 2,082 sqft | AED 1.91MAED 1,908,800 · Aug 2010August 2010 | 350,000 /yr | |
| 703 | 2-bed | 1,629 sqft | AED 3.4MAED 3,400,000 · Mar 2021March 2021 | 160,000 /yr | |
| 704 | 1-bed | 915 sqft | AED 1MAED 1,000,000 · Aug 2010August 2010 | 98,000 /yr | |
| 705 | 1-bed | 1,046 sqft | AED 1.41MAED 1,410,000 · Jun 2012June 2012 | 125,000 /yr |
701, The Residences 1 (W3) in numbers
- Sold once: by Emaar on 6 May 2008 for AED 557,400, or AED 383 per sqft.
- Rented since April 2013 on 9 Ejari contracts, from AED 150,000 to AED 90,000 a year.
- At AED 90,000 a year the gross yield on the 2008 price is 16.2%, before a service charge of about AED 31,300 a year (AED 21.55 per sqft).
- Two-beds in The Residences 1 (W3) sold for AED 3,800,000–5,200,000 in the 12 months to November 2026; the building's median across all types is AED 2,958 per sqft.
Source: Dubai Land Department. Updated 17 January 2020.
Questions about 701, The Residences 1 (W3)
What did unit 701 last sell for?
AED 557,400 on 6 May 2008, sold by the developer: AED 383 per sqft for 1,452 sqft. It is the only registered sale of the unit.
What is the rent for unit 701?
AED 90,000 a year on the contract signed on 17 January 2020. The previous contract, from September 2018, was AED 135,000; the unit has been rented since April 2013.
How big is unit 701?
1,452 sqft (134.9 sqm): a two-bedroom apartment on the 7th floor of a 38-storey tower completed in 2007.
What is unit 701 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in The Residences 1 (W3) sold for AED 3,800,000 to 5,200,000 in the last 12 months, around AED 2,651 per sqft.
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Mortgage on 701, The Residences 1 (W3)
Starts from the last sale price (AED 557K, 6 May 2008). Switch to today's estimate once you have unlocked it.- Price
- AED 557,400
- Deposit, UAE resident (20%)
- AED 111,480
- Deposit, non-resident (40%)
- AED 222,960
- Monthly over 25 years at 3.7%
- AED 2,280
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →