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3-bed · 2,057 sqftAl Majara Tower 1, Dubai Marina · 5th floor · completed 2006

502, Al Majara Tower 1

Sold prices and rental history: sold 4 times, last in March 2023, and rented continuously since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 502 · DLD and Ejari recordsUpdated 16 March 2023
Last soldAED 3M16 March 2023
Current rentAED 220K /yr30 August 2016
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 502, Al Majara Tower 1

What is 502 worth today?

Last sold for AED 3,000,000 in 2023

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16 Mar 2023SoldReady
AED 3,000,000AED 1,458 per sqft
21 Nov 2017SoldReady
AED 1,430,000AED 695 per sqft
30 Aug 2016RentedNew contract
AED 220,000/yr12 months · AED 107 per sqft
5 Mar 2016RentedNew contract
AED 225,000/yr12 months · AED 109 per sqft
25 Feb 2014RentedRenewal
AED 210,000/yr12 months · AED 102 per sqft
25 Feb 2013RentedNew contract
AED 210,000/yr12 months · AED 102 per sqft
29 Jul 2008Sold by developerReady
AED 2,401,200AED 1,167 per sqft
29 Jul 2008SoldReady
AED 1,334,000AED 648 per sqft

Source: Dubai Land Department. Updated 16 March 2023.

Key facts

Type
3-bed apartment
Size
2,057 sqft
Floor
5th of 28
Parking
226 , 233
Developer
Emaar
Completed
2006
Service charge
AED 31,100 /yr
Last sold
AED 3M · March 2023
Building
Al Majara Tower 1

About 502, Al Majara Tower 1

502 is a three-bedroom apartment of 2,057 sqft on the 5th floor of Al Majara Tower 1, a 28-storey tower in Dubai Marina completed in 2006 by Emaar. It last sold on 16 March 2023 for AED 3,000,000, or AED 1,458 per sqft.

It has been rented continuously since 2013 on 4 Ejari contracts. The current contract, signed on 30 August 2016, is AED 220,000 a year: a gross yield of 7.3% on the 2023 price, before the service charge of about AED 31,100 a year.

Sales and rents for 502 over time

Sales
Unit 502, each saleTypical three-bed in Al Majara Tower 1
2M4M2008201320182023Typical sale price by year: 2008 AED 1,739,750; 2009 AED 1,750,000; 2010 AED 1,427,222; 2011 AED 1,680,000; 2012 AED 2,550,000; 2013 AED 2,740,000; 2015 AED 3,300,000; 2016 AED 3,075,000; 2017 AED 1,430,000; 2019 AED 2,217,900; 2025 AED 4,250,000Sold by developer, July 2008: AED 2,401,200 (AED 1,167 per sqft)Sold, July 2008: AED 1,334,000 (AED 648 per sqft)Sold, November 2017: AED 1,430,000 (AED 695 per sqft)Sold, March 2023: AED 3,000,000 (AED 1,458 per sqft)

502 has sold 4 times; the dashed line is the three-bed median of each year in the building.

Rents
Unit 502, each contractTypical three-bed in Al Majara Tower 1
150K200K250K2012201620202024Typical rent by year: 2012 AED 162,500; 2013 AED 171,625; 2014 AED 240,000; 2015 AED 245,000; 2016 AED 225,000; 2017 AED 222,500; 2018 AED 208,505; 2019 AED 175,000; 2020 AED 153,502; 2021 AED 155,000; 2022 AED 180,000; 2023 AED 200,000; 2024 AED 220,000; 2025 AED 230,000; 2026 AED 233,000New contract, February 2013: AED 210,000 a yearRenewal, February 2014: AED 210,000 a yearNew contract, March 2016: AED 225,000 a yearNew contract, August 2016: AED 220,000 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 Al Majara Tower 1, and where 502 sits

All 36 3-beds →

Over the last 12 months three-beds sold for AED 3,500,000 to 4,600,000, around AED 1,980 per sqft, and rent for AED 184,000 to 300,000 a year. 502's AED 220,000 is in the lower half of that range.

Recent 3-bed salesUnit no.Price (AED)Summary
24 Aug 20264,600,000
22 Jul 20263,500,000
27 Oct 20254,250,000
14 Feb 20254,300,000
2 3-bed sales in the last 12 months

Al Majara Tower 1

Building

188 apartments, 1-bed to 3-bed over 28 floors in Dubai Marina, completed in 2006 by Emaar. 12 sold in the last 12 months.

Typical price per sqft
AED 2,018 Up 4.4%
Typical sale
AED 2.4M
Typical rent
AED 130K /yr
Typical yield
5.2%
Al Majara Tower 1, Dubai Marina: prices, sales and rents →

Other units on the 5th floor

All 188 units in Al Majara Tower 1
Value
5011-bedAED 614K · Sep 2008
5032-bedAED 1.23M · May 2008
5042-bedAED 1.71M · Jun 2022
5051-bedAED 584K · Mar 2010
5061-bedAED 472K · Mar 2013
5072-bedAED 2.2M · Jun 2023

502, Al Majara Tower 1 in numbers

  • Sold 4 times: first on 29 July 2008 for AED 1,334,000, last on 16 March 2023 for AED 3,000,000 (AED 1,458 per sqft).
  • Rented since February 2013 on 4 Ejari contracts, from AED 210,000 to AED 220,000 a year.
  • At AED 220,000 a year the gross yield on the 2023 price is 7.3%, before a service charge of about AED 31,100 a year (AED 15.11 per sqft).
  • Three-beds in Al Majara Tower 1 sold for AED 3,500,000–4,600,000 in the 12 months to November 2026; the building's median across all types is AED 2,018 per sqft.

Source: Dubai Land Department. Updated 16 March 2023.

Questions about 502, Al Majara Tower 1

What did unit 502 last sell for?

AED 3,000,000 on 16 March 2023: AED 1,458 per sqft for 2,057 sqft. The unit has 4 registered sales; the first was AED 1,334,000 in July 2008.

What is the rent for unit 502?

AED 220,000 a year on the contract signed on 30 August 2016. The previous contract, from March 2016, was AED 225,000; the unit has been rented since February 2013.

How big is unit 502?

2,057 sqft (191.1 sqm): a three-bedroom apartment on the 5th floor of a 28-storey tower completed in 2006.

What is unit 502 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in Al Majara Tower 1 sold for AED 3,500,000 to 4,600,000 in the last 12 months, around AED 1,980 per sqft.

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Mortgage on 502, Al Majara Tower 1

Starts from the last sale price (AED 3M, 16 March 2023). Switch to today's estimate once you have unlocked it.
Price
AED 3,000,000
Deposit, UAE resident (20%)
AED 600,000
Deposit, non-resident (40%)
AED 1,200,000
Monthly over 25 years at 3.7%
AED 12,274

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