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2-bed · 1,386 sqftAl Majara Tower 3, Dubai Marina · 7th floor · completed 2006

704, Al Majara Tower 3

Sold prices and rental history: sold once, by the developer in July 2010, and rented since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 704 · DLD and Ejari recordsUpdated 1 May 2021
Last soldAED 1.07M28 July 2010
Current rentAED 110K /yr1 May 2021
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 704, Al Majara Tower 3

What is 704 worth today?

Last sold for AED 1,065,800 in 2010

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1 May 2021RentedRenewal
AED 110,000/yr12 months · AED 79 per sqft
1 May 2020RentedRenewal
AED 120,000/yr12 months · AED 86 per sqft
1 May 2019RentedNew contract
AED 130,000/yr12 months · AED 94 per sqft
28 Jul 2010Sold by developerReady
AED 1,065,800AED 768 per sqft

Source: Dubai Land Department. Updated 1 May 2021.

Key facts

Type
2-bed apartment
Size
1,386 sqft
Floor
7th of 9
Parking
432 , 433
Developer
Emaar
Completed
2006
Service charge
AED 20,900 /yr
Last sold
AED 1.07M · July 2010
Building
Al Majara Tower 3

About 704, Al Majara Tower 3

704 is a two-bedroom apartment of 1,386 sqft on the 7th floor of Al Majara Tower 3, a 9-storey tower in Dubai Marina completed in 2006 by Emaar. The developer sold it on 28 July 2010 for AED 1,065,800, or AED 768 per sqft, 19% above the AED 646 two-beds in the building were fetching at the time.

It has been rented since 2019 on 3 Ejari contracts. The current contract, renewed on 1 May 2021, is AED 110,000 a year: a gross yield of 10.3% on the 2010 price, before the service charge of about AED 20,900 a year.

Sales and rents for 704 over time

Sales
Unit 704, each saleTypical two-bed in Al Majara Tower 3
1M2M2008201220162020Typical sale price by year: 2008 AED 1,250,000; 2009 AED 1,200,000; 2010 AED 903,444; 2011 AED 1,141,944; 2012 AED 1,525,250; 2013 AED 910,800; 2015 AED 1,936,913; 2017 AED 1,825,000; 2018 AED 2,050,000; 2019 AED 1,480,000; 2022 AED 2,025,000Sold by developer, July 2010: AED 1,065,800 (AED 768 per sqft)

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

Rents
Unit 704, each contractTypical two-bed in Al Majara Tower 3
100K150K2013201720212025Typical rent by year: 2013 AED 135,000; 2014 AED 160,000; 2015 AED 161,000; 2016 AED 160,000; 2017 AED 150,000; 2018 AED 137,500; 2019 AED 123,250; 2020 AED 105,000; 2021 AED 107,500; 2022 AED 120,000; 2023 AED 143,000; 2024 AED 155,000; 2025 AED 162,500; 2026 AED 155,000New contract, May 2019: AED 130,000 a yearRenewal, May 2020: AED 120,000 a yearRenewal, May 2021: AED 110,000 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 Al Majara Tower 3, and where 704 sits

All 35 2-beds →

704 last sold in July 2010 at AED 768 per sqft, 19% above what two-beds in Al Majara Tower 3 were fetching at the time (AED 646). Over the last 12 months two-beds sold for AED 2,550,000 to 3,700,000, around AED 2,230 per sqft, and rent for AED 123,000 to 225,000 a year. 704's AED 110,000 is at the bottom of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
9 Oct 20263,700,000
12 Dec 20252,550,000
16 Jun 20252,925,000
19 Sep 20243,275,000
2 2-bed sales in the last 12 months

Al Majara Tower 3

Building

55 apartments, 1-bed to 3-bed over 9 floors in Dubai Marina, completed in 2006 by Emaar. 2 sold in the last 12 months.

Typical price per sqft
AED 2,230
Typical sale
AED 3.13M
Typical rent
AED 139K /yr
Typical yield
5.2%
Al Majara Tower 3, Dubai Marina: prices, sales and rents →

Other units on the 7th floor

All 55 units in Al Majara Tower 3
Value
7012-bedAED 1.11M · Mar 2008
7021-bedAED 1.48M · Apr 2018
7032-bedAED 1.04M · Oct 2015
7051-bedAED 600K · Jan 2021
7062-bedAED 2.18M · May 2018

704, Al Majara Tower 3 in numbers

  • Sold once: by Emaar on 28 July 2010 for AED 1,065,800, or AED 768 per sqft.
  • Rented since May 2019 on 3 Ejari contracts, from AED 130,000 to AED 110,000 a year.
  • At AED 110,000 a year the gross yield on the 2010 price is 10.3%, before a service charge of about AED 20,900 a year (AED 15.11 per sqft).
  • Two-beds in Al Majara Tower 3 sold for AED 2,550,000–3,700,000 in the 12 months to November 2026; the building's median across all types is AED 2,230 per sqft.

Source: Dubai Land Department. Updated 1 May 2021.

Questions about 704, Al Majara Tower 3

What did unit 704 last sell for?

AED 1,065,800 on 28 July 2010, sold by the developer: AED 768 per sqft for 1,386 sqft. It is the only registered sale of the unit.

What is the rent for unit 704?

AED 110,000 a year on the contract renewed on 1 May 2021. The previous contract, from May 2020, was AED 120,000; the unit has been rented since May 2019.

How big is unit 704?

1,386 sqft (128.8 sqm): a two-bedroom apartment on the 7th floor of a 9-storey tower completed in 2006.

What is unit 704 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Al Majara Tower 3 sold for AED 2,550,000 to 3,700,000 in the last 12 months, around AED 2,230 per sqft.

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Mortgage on 704, Al Majara Tower 3

Starts from the last sale price (AED 1.07M, 28 July 2010). Switch to today's estimate once you have unlocked it.
Price
AED 1,065,800
Deposit, UAE resident (20%)
AED 213,160
Deposit, non-resident (40%)
AED 426,320
Monthly over 25 years at 3.7%
AED 4,361

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