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2-bed · 1,650 sqftThe Residences 7 (T3), Downtown Dubai · 16th floor · completed 2007

1603, The Residences 7 (T3)

Sold prices and rental history: sold 3 times, last in August 2022, and rented continuously since 2014. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1603 · DLD and Ejari recordsUpdated 15 August 2022
Last soldAED 3.5M15 August 2022
Current rentAED 135K /yr10 June 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1603, The Residences 7 (T3)

What is 1603 worth today?

Last sold for AED 3,500,000 in 2022

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15 Aug 2022SoldReady
AED 3,500,000AED 2,121 per sqft
10 Jun 2022RentedRenewal
AED 135,490/yr4 months · AED 82 per sqft
10 Jun 2021RentedNew contract
AED 134,000/yr12 months · AED 81 per sqft
15 Apr 2021RentedRenewal
AED 125,004/yr1 months · AED 76 per sqft
15 Oct 2020RentedRenewal
AED 125,000/yr6 months · AED 76 per sqft
15 Oct 2019RentedNew contract
AED 135,000/yr12 months · AED 82 per sqft
15 Jul 2019RentedNew contract
AED 90,000/yr12 months · AED 55 per sqft
1 Nov 2018RentedRenewal
AED 274,426/yr2 months · AED 167 per sqft

Source: Dubai Land Department. Updated 15 August 2022.

Key facts

Type
2-bed apartment
Size
1,650 sqft
Floor
16th of 40
Parking
485
Developer
Emaar
Completed
2007
Service charge
AED 38,000 /yr
Last sold
AED 3.5M · August 2022
Building
The Residences 7 (T3)

About 1603, The Residences 7 (T3)

1603 is a two-bedroom apartment of 1,650 sqft on the 16th floor of The Residences 7 (T3), a 40-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 15 August 2022 for AED 3,500,000, or AED 2,121 per sqft, 10% above the AED 1,924 two-beds in the building were fetching at the time.

It has been rented continuously since 2014 on 12 Ejari contracts. The current contract, renewed on 10 June 2022, is AED 135,490 a year: a gross yield of 3.9% on the 2022 price, before the service charge of about AED 38,000 a year.

Sales and rents for 1603 over time

Sales
Unit 1603, each saleTypical two-bed in The Residences 7 (T3)
2M4M2008201320182023Typical sale price by year: 2008 AED 2,521,844; 2009 AED 2,124,212; 2010 AED 2,443,888; 2011 AED 2,280,444; 2012 AED 3,000,000; 2013 AED 3,900,000; 2014 AED 4,900,000; 2015 AED 4,800,000; 2017 AED 3,900,000; 2021 AED 2,475,000; 2022 AED 3,175,000; 2023 AED 2,850,000; 2024 AED 3,732,500; 2025 AED 4,050,000Sold by developer, January 2013: AED 2,244,800 (AED 1,360 per sqft)Sold, March 2013: AED 3,300,000 (AED 1,999 per sqft)Sold, August 2022: AED 3,500,000 (AED 2,121 per sqft)

1603 has sold 3 times; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1603, each contractTypical two-bed in The Residences 7 (T3)
100K200K300K2012201620202024Typical rent by year: 2012 AED 161,000; 2013 AED 178,000; 2014 AED 195,000; 2015 AED 190,000; 2016 AED 190,000; 2017 AED 180,000; 2018 AED 161,250; 2019 AED 145,000; 2020 AED 128,900; 2021 AED 125,000; 2022 AED 135,490; 2023 AED 180,000; 2024 AED 180,000; 2025 AED 200,000; 2026 AED 200,000New contract, May 2014: AED 230,000 a yearNew contract, May 2015: AED 230,000 a yearRenewal, May 2016: AED 230,000 a yearRenewal, May 2017: AED 220,000 a yearRenewal, May 2018: AED 220,000 a yearRenewal, November 2018: AED 274,426 a yearNew contract, July 2019: AED 90,000 a yearNew contract, October 2019: AED 135,000 a yearRenewal, October 2020: AED 125,000 a yearRenewal, April 2021: AED 125,004 a yearNew contract, June 2021: AED 134,000 a yearRenewal, June 2022: AED 135,490 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 The Residences 7 (T3), and where 1603 sits

All 72 2-beds →

1603 last sold in August 2022 at AED 2,121 per sqft, 10% above what two-beds in The Residences 7 (T3) were fetching at the time (AED 1,924). Over the last 12 months two-beds sold for AED 2,562,500 to 5,125,000, around AED 3,106 per sqft, and rent for AED 70,000 to 290,000 a year. 1603's AED 135,490 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
24 Feb 20265,100,000
25 Dec 20252,562,500
24 Dec 20252,562,500
10 Dec 20255,125,000
4 2-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
16023-bedAED 1.44M · Jul 2009
16041-bedAED 2.18M · Jul 2025
16051-bedAED 988K · Sep 2010

1603, The Residences 7 (T3) in numbers

  • Sold 3 times: first on 14 January 2013 for AED 2,244,800, last on 15 August 2022 for AED 3,500,000 (AED 2,121 per sqft).
  • Rented since May 2014 on 12 Ejari contracts. The rent fell from AED 230,000 to AED 90,000 in 2019 and recovered to AED 135,490 by June 2022.
  • At AED 135,490 a year the gross yield on the 2022 price is 3.9%, before a service charge of about AED 38,000 a year (AED 23.00 per sqft).
  • Two-beds in The Residences 7 (T3) sold for AED 2,562,500–5,125,000 in the 12 months to November 2026; the building's median across all types is AED 3,105 per sqft.

Source: Dubai Land Department. Updated 15 August 2022.

Questions about 1603, The Residences 7 (T3)

What did unit 1603 last sell for?

AED 3,500,000 on 15 August 2022: AED 2,121 per sqft for 1,650 sqft. The unit has 3 registered sales; the first was AED 2,244,800 in January 2013.

What is the rent for unit 1603?

AED 135,490 a year on the contract renewed on 10 June 2022. The previous contract, from June 2021, was AED 134,000; the unit has been rented since May 2014.

How big is unit 1603?

1,650 sqft (153.3 sqm): a two-bedroom apartment on the 16th floor of a 40-storey tower completed in 2007.

What is unit 1603 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 7 (T3) sold for AED 2,562,500 to 5,125,000 in the last 12 months, around AED 3,106 per sqft.

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Mortgage on 1603, The Residences 7 (T3)

Starts from the last sale price (AED 3.5M, 15 August 2022). Switch to today's estimate once you have unlocked it.
Price
AED 3,500,000
Deposit, UAE resident (20%)
AED 700,000
Deposit, non-resident (40%)
AED 1,400,000
Monthly over 25 years at 3.7%
AED 14,320

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