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2-bed · 2,310 sqftThe Residences at Marina Gate 1, Dubai Marina · completed 2018

701, The Residences at Marina Gate 1

Sold prices and rental history: sold twice, last in August 2019, and rented since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 701 · DLD and Ejari recordsUpdated 15 October 2023
Last soldAED 3.5M25 August 2019
Current rentAED 140K /yr15 October 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 701, The Residences at Marina Gate 1

What is 701 worth today?

Last sold for AED 3,500,000 in 2019

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15 Oct 2023RentedNew contract
AED 140,000/yr12 months · AED 60 per sqft
1 Jun 2021RentedRenewal
AED 120,000/yr12 months · AED 52 per sqft
1 Jun 2020RentedNew contract
AED 150,000/yr12 months · AED 65 per sqft
25 Aug 2019SoldReady
AED 3,500,000AED 1,515 per sqft
14 Aug 2014Sold by developerOff-plan
AED 5,110,600AED 2,212 per sqft

Source: Dubai Land Department. Updated 15 October 2023.

Key facts

Type
2-bed apartment
Size
2,310 sqft
Parking
M-024, M-025
Developer
Select Global Development
Completed
2018
Service charge
AED 40,100 /yr
Last sold
AED 3.5M · August 2019
Building
The Residences at Marina Gate 1

About 701, The Residences at Marina Gate 1

701 is a two-bedroom apartment of 2,310 sqft of The Residences at Marina Gate 1, a 50-storey tower in Dubai Marina completed in 2018 by Select Global Development. It last sold on 25 August 2019 for AED 3,500,000, or AED 1,515 per sqft, in line with the AED 1,524 two-beds in the building were fetching at the time.

It has been rented since 2020 on 3 Ejari contracts. The current contract, signed on 15 October 2023, is AED 140,000 a year: a gross yield of 4.0% on the 2019 price, before the service charge of about AED 40,100 a year.

Sales and rents for 701 over time

Sales
Unit 701, each saleTypical two-bed in The Residences at Marina Gate 1
2M4M2014201820222026Typical sale price by year: 2014 AED 2,587,580; 2015 AED 2,546,145; 2016 AED 2,510,255; 2017 AED 2,475,000; 2018 AED 2,471,000; 2019 AED 2,093,790; 2020 AED 1,895,000; 2021 AED 2,180,000; 2022 AED 2,600,000; 2023 AED 3,200,000; 2024 AED 3,625,000; 2025 AED 3,400,000; 2026 AED 3,445,000Sold by developer, August 2014: AED 5,110,600 (AED 2,212 per sqft)Sold, August 2019: AED 3,500,000 (AED 1,515 per sqft)

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

Rents
Unit 701, each contractTypical two-bed in The Residences at Marina Gate 1
150K2018202120242027Typical rent by year: 2018 AED 144,000; 2019 AED 131,779; 2020 AED 124,000; 2021 AED 125,000; 2022 AED 135,000; 2023 AED 152,500; 2024 AED 180,000; 2025 AED 180,000; 2026 AED 173,000New contract, June 2020: AED 150,000 a yearRenewal, June 2021: AED 120,000 a yearNew contract, October 2023: AED 140,000 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 The Residences at Marina Gate 1, and where 701 sits

All 160 2-beds →

701 last sold in August 2019 at AED 1,515 per sqft, in line with what two-beds in The Residences at Marina Gate 1 were fetching at the time (AED 1,524). Over the last 12 months two-beds sold for AED 2,875,000 to 3,750,000, around AED 2,422 per sqft, and rent for AED 80,000 to 290,000 a year. 701's AED 140,000 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
18 Sep 20262,990,000
2 Sep 20263,500,000
12 May 20263,750,000
27 Feb 20263,390,000
6 2-bed sales in the last 12 months

The Residences at Marina Gate 1

Building

389 apartments, studios to 5-bed over 50 floors in Dubai Marina, completed in 2018 by Select Global Development. 16 sold in the last 12 months.

Typical price per sqft
AED 2,723 Down 1.2%
Typical sale
AED 3.63M
Typical rent
AED 160K /yr
Typical yield
5.3%
The Residences at Marina Gate 1, Dubai Marina: prices, sales and rents →

701, The Residences at Marina Gate 1 in numbers

  • Sold twice: first on 14 August 2014 for AED 5,110,600, last on 25 August 2019 for AED 3,500,000 (AED 1,515 per sqft).
  • Rented since June 2020 on 3 Ejari contracts. The rent fell from AED 150,000 to AED 120,000 in 2021 and recovered to AED 140,000 by October 2023.
  • At AED 140,000 a year the gross yield on the 2019 price is 4.0%, before a service charge of about AED 40,100 a year (AED 17.37 per sqft).
  • Two-beds in The Residences at Marina Gate 1 sold for AED 2,875,000–3,750,000 in the 12 months to November 2026; the building's median across all types is AED 2,723 per sqft.

Source: Dubai Land Department. Updated 15 October 2023.

Questions about 701, The Residences at Marina Gate 1

What did unit 701 last sell for?

AED 3,500,000 on 25 August 2019: AED 1,515 per sqft for 2,310 sqft. The unit has 2 registered sales; the first was AED 5,110,600 in August 2014.

What is the rent for unit 701?

AED 140,000 a year on the contract signed on 15 October 2023. The previous contract, from June 2021, was AED 120,000; the unit has been rented since June 2020.

How big is unit 701?

2,310 sqft (214.6 sqm): a two-bedroom apartment of a 50-storey tower completed in 2018.

What is unit 701 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 at Marina Gate 1 sold for AED 2,875,000 to 3,750,000 in the last 12 months, around AED 2,422 per sqft.

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Mortgage on 701, The Residences at Marina Gate 1

Starts from the last sale price (AED 3.5M, 25 August 2019). 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 →