502, Al Falak Residence
Sold prices and rental history: sold once, by the developer in February 2024, and rented continuously since 2018. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 502, Al Falak Residence
What is 502 worth today?
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Source: Dubai Land Department. Updated 10 May 2024.
Key facts
- Type
- 2-bed apartment
- Size
- 1,229 sqft
- Floor
- 5th of 8
- Parking
- G-54
- Developer
- Al Falak Residenceo
- Completed
- 2015
- Service charge
- AED 14,400 /yr
- Last sold
- AED 730K · February 2024
- Building
- Al Falak Residence
About 502, Al Falak Residence
502 is a two-bedroom apartment of 1,229 sqft on the 5th floor of Al Falak Residence, a 8-storey tower in Dubai Silicon Oasis completed in 2015 by Al Falak Residenceo. The developer sold it on 14 February 2024 for AED 730,000, or AED 593 per sqft, in line with the AED 596 two-beds in the building were fetching at the time.
It has been rented continuously since 2018 on 7 Ejari contracts. The current contract, signed on 10 May 2024, is AED 72,000 a year: a gross yield of 9.9% on the 2024 price, before the service charge of about AED 14,400 a year.
Sales and rents for 502 over time
502 has sold once; the dashed line is the two-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in Al Falak Residence, and where 502 sits
All 32 2-beds →502 last sold in February 2024 at AED 593 per sqft, in line with what two-beds in Al Falak Residence were fetching at the time (AED 596). 502's AED 72,000 is in the upper half of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 3 Jan 20253 January 2025 | 1,220 sqft | 820,000 | 672 | ||
| 19 Dec 202419 December 2024 | 1,220 sqft | 823,000 | 674 | ||
| 9 Oct 20249 October 2024 | 1,768 sqft | 830,000 | 469 | ||
| 13 Sep 202413 September 2024 | 1,931 sqft | 825,000 | 427 |
Al Falak Residence
Building95 apartments, 1-bed to 2-bed over 8 floors in Dubai Silicon Oasis, completed in 2015 by Al Falak Residenceo. 4 sold in the last 12 months.
- Typical price per sqft
- AED 830
- Typical sale
- AED 575K
- Typical rent
- AED 50K /yr
- Typical yield
- 8.3%
Other units on the 5th floor
All 95 units in Al Falak Residence| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | 2-bed | 1,229 sqft | AED 745KAED 745,000 · Mar 2024March 2024 | 78,000 /yr | |
| 503 | 1-bed | 651 sqft | AED 550KAED 550,000 · Jun 2025June 2025 | 52,000 /yr | |
| 504 | 1-bed | 34 sqft | AED 599KAED 599,245 · Jan 2018January 2018 | 36,000 /yr | |
| 505 | 1-bed | 650 sqft | AED 525KAED 525,000 · May 2018May 2018 | 44,000 /yr | |
| 506 | 1-bed | 696 sqft | AED 500KAED 500,000 · Feb 2019February 2019 | 42,000 /yr | |
| 507 | 2-bed | 1,109 sqft | AED 985KAED 984,960 · Mar 2018March 2018 | ||
| 508 | 2-bed | 1,071 sqft | AED 790KAED 790,000 · May 2018May 2018 | ||
| 509 | 1-bed | 690 sqft | AED 603KAED 602,875 · Mar 2018March 2018 | 53,000 /yr | |
| 510 | 1-bed | 32 sqft | AED 637KAED 636,700 · Jan 2018January 2018 | 44,000 /yr | |
| 511 | 1-bed | 695 sqft | AED 609KAED 608,699 · Jan 2018January 2018 | 48,000 /yr | |
| 512 | 1-bed | 651 sqft | AED 586KAED 585,650 · Jan 2018January 2018 | 42,000 /yr |
502, Al Falak Residence in numbers
- Sold once: by Al Falak Residenceo on 14 February 2024 for AED 730,000, or AED 593 per sqft.
- Rented since January 2018 on 7 Ejari contracts. The rent fell from AED 71,000 to AED 45,000 in 2022 and recovered to AED 72,000 by May 2024.
- At AED 72,000 a year the gross yield on the 2024 price is 9.9%, before a service charge of about AED 14,400 a year (AED 11.74 per sqft).
Source: Dubai Land Department. Updated 10 May 2024.
Questions about 502, Al Falak Residence
What did unit 502 last sell for?
AED 730,000 on 14 February 2024, sold by the developer: AED 593 per sqft for 1,229 sqft. It is the only registered sale of the unit.
What is the rent for unit 502?
AED 72,000 a year on the contract signed on 10 May 2024. The previous contract, from April 2023, was AED 52,000; the unit has been rented since January 2018.
How big is unit 502?
1,229 sqft (114.2 sqm): a two-bedroom apartment on the 5th floor of a 8-storey tower completed in 2015.
What is unit 502 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google.
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Mortgage on 502, Al Falak Residence
Starts from the last sale price (AED 730K, 14 February 2024). Switch to today's estimate once you have unlocked it.- Price
- AED 730,000
- Deposit, UAE resident (20%)
- AED 146,000
- Deposit, non-resident (40%)
- AED 292,000
- Monthly over 25 years at 3.7%
- AED 2,987
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →