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3-bed · 2,082 sqftThe Residences 7 (T3), Downtown Dubai · 16th floor · completed 2007

1602, The Residences 7 (T3)

Sold prices and rental history: sold once, by the developer in July 2009, and rented continuously since 2015. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1602 · DLD and Ejari recordsUpdated 1 May 2020
Last soldAED 1.44M15 July 2009
Current rentAED 100K /yr1 May 2020
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1602, The Residences 7 (T3)

What is 1602 worth today?

Last sold for AED 1,440,400 in 2009

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1 May 2020RentedRenewal
AED 100,000/yr24 months · AED 48 per sqft
1 May 2019RentedRenewal
AED 100,000/yr12 months · AED 48 per sqft
1 May 2016RentedRenewal
AED 100,000/yr36 months · AED 48 per sqft
1 May 2015RentedNew contract
AED 100,000/yr12 months · AED 48 per sqft
15 Jul 2009Sold by developerReady
AED 1,440,400AED 691 per sqft

Source: Dubai Land Department. Updated 1 May 2020.

Key facts

Type
3-bed apartment
Size
2,082 sqft
Floor
16th of 40
Parking
565 / 566
Developer
Emaar
Completed
2007
Service charge
AED 47,900 /yr
Last sold
AED 1.44M · July 2009
Building
The Residences 7 (T3)

About 1602, The Residences 7 (T3)

1602 is a three-bedroom apartment of 2,082 sqft on the 16th floor of The Residences 7 (T3), a 40-storey tower in Downtown Dubai completed in 2007 by Emaar. The developer sold it on 15 July 2009 for AED 1,440,400, or AED 691 per sqft, 52% below the AED 1,438 three-beds in the building were fetching at the time.

It has been rented continuously since 2015 on 4 Ejari contracts. The current contract, renewed on 1 May 2020, is AED 100,000 a year: a gross yield of 6.9% on the 2009 price, before the service charge of about AED 47,900 a year.

Sales and rents for 1602 over time

Sales
Unit 1602, each saleTypical three-bed in The Residences 7 (T3)
5M2008201320182023Typical sale price by year: 2008 AED 3,045,800; 2009 AED 2,152,256; 2010 AED 3,196,888; 2011 AED 3,300,000; 2012 AED 4,024,888; 2014 AED 7,625,000; 2015 AED 6,700,000; 2020 AED 3,864,250; 2021 AED 3,900,000; 2022 AED 5,600,000; 2024 AED 5,374,428; 2025 AED 6,725,000Sold by developer, July 2009: AED 1,440,400 (AED 691 per sqft)

1602 has sold once; the dashed line is the three-bed median of each year in the building.

Rents
Unit 1602, each contractTypical three-bed in The Residences 7 (T3)
100K200K300K2012201620202024Typical rent by year: 2012 AED 120,000; 2013 AED 230,000; 2014 AED 290,000; 2015 AED 290,000; 2016 AED 279,500; 2017 AED 270,000; 2018 AED 234,552; 2019 AED 210,000; 2020 AED 180,000; 2021 AED 185,000; 2022 AED 210,000; 2023 AED 250,000; 2024 AED 250,000; 2025 AED 280,000; 2026 AED 300,000New contract, May 2015: AED 100,000 a yearRenewal, May 2016: AED 100,000 a yearRenewal, May 2019: AED 100,000 a yearRenewal, May 2020: AED 100,000 a year

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

3-beds in The Residences 7 (T3), and where 1602 sits

All 37 3-beds →

1602 last sold in July 2009 at AED 691 per sqft, 52% below what three-beds in The Residences 7 (T3) were fetching at the time (AED 1,438). 1602's AED 100,000 is at the bottom of that range.

Recent 3-bed salesUnit no.Price (AED)Summary
4 Jun 20256,200,000
28 May 20256,950,000
19 Feb 20256,750,000
29 Jan 20256,700,000
0 3-bed sales in the last 12 months

The Residences 7 (T3)

Building

189 apartments, 1-bed to 4-bed over 40 floors in Downtown Dubai, completed in 2007 by Emaar. 5 sold in the last 12 months.

Typical price per sqft
AED 3,105
Typical sale
AED 2.56M
Typical rent
AED 135K /yr
Typical yield
4.0%
The Residences 7 (T3), Downtown Dubai: prices, sales and rents →

Other units on the 16th floor

All 189 units in The Residences 7 (T3)
Value
16012-bedAED 4M · Mar 2013
16032-bedAED 3.5M · Aug 2022
16041-bedAED 2.18M · Jul 2025
16051-bedAED 988K · Sep 2010

1602, The Residences 7 (T3) in numbers

  • Sold once: by Emaar on 15 July 2009 for AED 1,440,400, or AED 691 per sqft.
  • Rented since May 2015 on 4 Ejari contracts, at AED 100,000 a year.
  • At AED 100,000 a year the gross yield on the 2009 price is 6.9%, before a service charge of about AED 47,900 a year (AED 23.00 per sqft).

Source: Dubai Land Department. Updated 1 May 2020.

Questions about 1602, The Residences 7 (T3)

What did unit 1602 last sell for?

AED 1,440,400 on 15 July 2009, sold by the developer: AED 691 per sqft for 2,082 sqft. It is the only registered sale of the unit.

What is the rent for unit 1602?

AED 100,000 a year on the contract renewed on 1 May 2020. The previous contract, from May 2019, was AED 100,000; the unit has been rented since May 2015.

How big is unit 1602?

2,082 sqft (193.4 sqm): a three-bedroom apartment on the 16th floor of a 40-storey tower completed in 2007.

What is unit 1602 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 1602, The Residences 7 (T3)

Starts from the last sale price (AED 1.44M, 15 July 2009). Switch to today's estimate once you have unlocked it.
Price
AED 1,440,400
Deposit, UAE resident (20%)
AED 288,080
Deposit, non-resident (40%)
AED 576,160
Monthly over 25 years at 3.7%
AED 5,893

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