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4-bed · 2,451 sqftHorizon Tower, Dubai Marina · 16th floor · completed 2006

1602, Horizon Tower

Sold prices and rental history: sold once, by the developer in March 2009, and rented since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1602 · DLD and Ejari recordsUpdated 1 June 2021
Last soldAED 836K29 March 2009
Current rentAED 85K /yr1 June 2021
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1602, Horizon Tower

What is 1602 worth today?

Last sold for AED 836,089 in 2009

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1 Jun 2021RentedNew contract
AED 85,000/yr12 months · AED 35 per sqft
10 Jul 2018RentedNew contract
AED 65,000/yr12 months · AED 26 per sqft
21 Feb 2013RentedNew contract
AED 100,000/yr12 months · AED 41 per sqft
29 Mar 2009Sold by developerReady
AED 836,089AED 341 per sqft

Source: Dubai Land Department. Updated 1 June 2021.

Key facts

Type
4-bed apartment
Size
2,451 sqft
Floor
16th of 44
Parking
B2-16, B2-17
Developer
Gulf General Investments Co
Completed
2006
Service charge
AED 35,600 /yr
Last sold
AED 836K · March 2009
Building
Horizon Tower

About 1602, Horizon Tower

1602 is a four-bedroom apartment of 2,451 sqft on the 16th floor of Horizon Tower, a 44-storey tower in Dubai Marina completed in 2006 by Gulf General Investments Co. The developer sold it on 29 March 2009 for AED 836,089, or AED 341 per sqft, 52% below the AED 705 four-beds in the building were fetching at the time.

It has been rented since 2013 on 3 Ejari contracts. The current contract, signed on 1 June 2021, is AED 85,000 a year: a gross yield of 10.2% on the 2009 price, before the service charge of about AED 35,600 a year.

Sales and rents for 1602 over time

Sales
Unit 1602, each saleTypical four-bed in Horizon Tower
2M2008201320182023Typical sale price by year: 2008 AED 1,937,440; 2009 AED 1,672,000; 2010 AED 1,900,000; 2011 AED 1,607,500; 2012 AED 1,727,266; 2013 AED 2,200,000; 2014 AED 3,050,000; 2015 AED 2,500,000; 2016 AED 2,650,000; 2017 AED 3,300,000; 2018 AED 1,950,000; 2019 AED 1,500,000; 2020 AED 1,500,000; 2021 AED 1,590,000; 2022 AED 1,880,000; 2023 AED 2,600,000; 2024 AED 2,700,000; 2025 AED 3,000,000; 2026 AED 2,585,000Sold by developer, March 2009: AED 836,089 (AED 341 per sqft)

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

Rents
Unit 1602, each contractTypical four-bed in Horizon Tower
100K200K2012201620202024Typical rent by year: 2012 AED 142,500; 2013 AED 168,000; 2014 AED 188,952; 2015 AED 195,000; 2016 AED 180,000; 2017 AED 175,000; 2018 AED 165,000; 2019 AED 150,000; 2020 AED 120,000; 2021 AED 115,000; 2022 AED 140,000; 2023 AED 180,000; 2024 AED 202,500; 2025 AED 210,000; 2026 AED 210,000New contract, February 2013: AED 100,000 a yearNew contract, July 2018: AED 65,000 a yearNew contract, June 2021: AED 85,000 a year

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

4-beds in Horizon Tower, and where 1602 sits

All 164 4-beds →

1602 last sold in March 2009 at AED 341 per sqft, 52% below what four-beds in Horizon Tower were fetching at the time (AED 705). Over the last 12 months four-beds sold for AED 2,300,000 to 3,450,000, around AED 1,067 per sqft, and rent for AED 100,000 to 478,713 a year. 1602's AED 85,000 is at the bottom of that range.

Recent 4-bed salesUnit no.Price (AED)Summary
5 Oct 20262,600,000
19 Aug 20263,200,000
14 Jul 20262,500,000
22 May 20263,450,000
11 4-bed sales in the last 12 months

Horizon Tower

Building

164 apartments, 4-bed over 44 floors in Dubai Marina, completed in 2006 by Gulf General Investments Co. 11 sold in the last 12 months.

Typical price per sqft
AED 1,067 Down 12.1%
Typical sale
AED 2.57M
Typical rent
AED 210K /yr
Typical yield
8.1%
Horizon Tower, Dubai Marina: prices, sales and rents →

Other units on the 16th floor

All 164 units in Horizon Tower
Value
16014-bedAED 1.6M · Aug 2011
16034-bedAED 3.43M · Oct 2014
16044-bedAED 2.55M · Feb 2017

1602, Horizon Tower in numbers

  • Sold once: by Gulf General Investments Co on 29 March 2009 for AED 836,089, or AED 341 per sqft.
  • Rented since February 2013 on 3 Ejari contracts. The rent fell from AED 100,000 to AED 65,000 in 2018 and recovered to AED 85,000 by June 2021.
  • At AED 85,000 a year the gross yield on the 2009 price is 10.2%, before a service charge of about AED 35,600 a year (AED 14.54 per sqft).
  • Four-beds in Horizon Tower sold for AED 2,300,000–3,450,000 in the 12 months to November 2026; the building's median across all types is AED 1,067 per sqft.

Source: Dubai Land Department. Updated 1 June 2021.

Questions about 1602, Horizon Tower

What did unit 1602 last sell for?

AED 836,089 on 29 March 2009, sold by the developer: AED 341 per sqft for 2,451 sqft. It is the only registered sale of the unit.

What is the rent for unit 1602?

AED 85,000 a year on the contract signed on 1 June 2021. The previous contract, from July 2018, was AED 65,000; the unit has been rented since February 2013.

How big is unit 1602?

2,451 sqft (227.7 sqm): a four-bedroom apartment on the 16th floor of a 44-storey tower completed in 2006.

What is unit 1602 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Four-beds in Horizon Tower sold for AED 2,300,000 to 3,450,000 in the last 12 months, around AED 1,067 per sqft.

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Mortgage on 1602, Horizon Tower

Starts from the last sale price (AED 836K, 29 March 2009). Switch to today's estimate once you have unlocked it.
Price
AED 836,089
Deposit, UAE resident (20%)
AED 167,218
Deposit, non-resident (40%)
AED 334,436
Monthly over 25 years at 3.7%
AED 3,421

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