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Studio · 459 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 15th floor · completed 2009

1503, Palace Towers Residential Block

Sold prices and rental history: sold twice, last in January 2011, and rented continuously since 2014. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1503 · DLD and Ejari recordsUpdated 1 July 2023
Last soldAED 359K30 January 2011
Current rentAED 30K /yr1 July 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1503, Palace Towers Residential Block

What is 1503 worth today?

Last sold for AED 359,000 in 2011

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1 Jul 2023RentedNew contract
AED 30,000/yr12 months · AED 65 per sqft
30 Aug 2022RentedRenewal
AED 25,000/yr12 months · AED 54 per sqft
30 Aug 2021RentedRenewal
AED 25,000/yr12 months · AED 54 per sqft
30 Aug 2020RentedRenewal
AED 28,000/yr12 months · AED 60 per sqft
28 Aug 2019RentedNew contract
AED 28,000/yr12 months · AED 60 per sqft
16 Apr 2015RentedRenewal
AED 33,000/yr12 months · AED 71 per sqft
16 Apr 2014RentedNew contract
AED 30,000/yr12 months · AED 65 per sqft
30 Jan 2011SoldReady
AED 359,000AED 781 per sqft

Source: Dubai Land Department. Updated 1 July 2023.

Key facts

Type
Studio apartment
Size
459 sqft
Floor
15th of 22
Parking
B2-59
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 7,400 /yr
Last sold
AED 359K · January 2011
Building
Palace Towers Residential Block

About 1503, Palace Towers Residential Block

1503 is a studio of 459 sqft on the 15th floor of Palace Towers Residential Block, a 22-storey tower in Dubai Silicon Oasis completed in 2009 by Tameer Holding Investment. It last sold on 30 January 2011 for AED 359,000, or AED 781 per sqft, 6% below the AED 830 studios in the building were fetching at the time.

It has been rented continuously since 2014 on 7 Ejari contracts. The current contract, signed on 1 July 2023, is AED 30,000 a year: a gross yield of 8.4% on the 2011 price, before the service charge of about AED 7,400 a year.

Sales and rents for 1503 over time

Sales
Unit 1503, each saleTypical studio in Palace Towers Residential Block
200K300K400K2009201420192024Typical sale price by year: 2009 AED 369,000; 2010 AED 362,000; 2011 AED 311,640; 2012 AED 255,000; 2013 AED 326,600; 2014 AED 425,000; 2015 AED 415,000; 2016 AED 405,000; 2017 AED 415,000; 2018 AED 312,500; 2019 AED 275,000; 2020 AED 222,500; 2021 AED 242,500; 2022 AED 250,000; 2023 AED 300,000; 2024 AED 365,000; 2025 AED 420,000; 2026 AED 426,500Sold by developer, July 2009: AED 359,000 (AED 781 per sqft)Sold, January 2011: AED 359,000 (AED 781 per sqft)

1503 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1503, each contractTypical studio in Palace Towers Residential Block
20K30K40K2012201620202024Typical rent by year: 2012 AED 26,500; 2013 AED 30,000; 2014 AED 35,000; 2015 AED 40,000; 2016 AED 40,000; 2017 AED 40,000; 2018 AED 35,000; 2019 AED 30,000; 2020 AED 24,000; 2021 AED 22,000; 2022 AED 25,000; 2023 AED 30,000; 2024 AED 33,536; 2025 AED 38,400; 2026 AED 39,000New contract, April 2014: AED 30,000 a yearRenewal, April 2015: AED 33,000 a yearNew contract, August 2019: AED 28,000 a yearRenewal, August 2020: AED 28,000 a yearRenewal, August 2021: AED 25,000 a yearRenewal, August 2022: AED 25,000 a yearNew contract, July 2023: AED 30,000 a year

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

Studios in Palace Towers Residential Block, and where 1503 sits

All 280 studios →

1503 last sold in January 2011 at AED 781 per sqft, 6% below what studios in Palace Towers Residential Block were fetching at the time (AED 830). Over the last 12 months studios sold for AED 320,000 to 470,000, around AED 962 per sqft, and rent for AED 10,714 to 66,000 a year. 1503's AED 30,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
5 Oct 2026395,000
1 Oct 2026435,000
20 Aug 2026390,000
21 Jul 2026445,000
22 studio sales in the last 12 months

Palace Towers Residential Block

Building

424 apartments, studios to 2-bed over 22 floors in Dubai Silicon Oasis, completed in 2009 by Tameer Holding Investment. 32 sold in the last 12 months.

Typical price per sqft
AED 906 Up 5.1%
Typical sale
AED 443K
Typical rent
AED 42K /yr
Typical yield
9.2%
Palace Towers Residential Block, Dubai Silicon Oasis: prices, sales and rents →

Other units on the 15th floor

All 424 units in Palace Towers Residential Block
Value
15011-bedAED 595K · Apr 2026
1502StudioAED 398K · Oct 2013
1504StudioAED 275K · Jan 2023
15052-bedAED 795K · Jun 2010
1506StudioAED 425K · Mar 2026
1507StudioAED 350K · Mar 2024
15082-bedAED 470K · Jun 2021
1–7 of 23

1503, Palace Towers Residential Block in numbers

  • Sold twice: first on 27 July 2009 for AED 359,000, last on 30 January 2011 for AED 359,000 (AED 781 per sqft).
  • Rented since April 2014 on 7 Ejari contracts. The rent fell from AED 30,000 to AED 25,000 in 2022 and recovered to AED 30,000 by July 2023.
  • At AED 30,000 a year the gross yield on the 2011 price is 8.4%, before a service charge of about AED 7,400 a year (AED 16.09 per sqft).
  • Studios in Palace Towers Residential Block sold for AED 320,000–470,000 in the 12 months to November 2026; the building's median across all types is AED 906 per sqft.

Source: Dubai Land Department. Updated 1 July 2023.

Questions about 1503, Palace Towers Residential Block

What did unit 1503 last sell for?

AED 359,000 on 30 January 2011: AED 781 per sqft for 459 sqft. The unit has 2 registered sales; the first was AED 359,000 in July 2009.

What is the rent for unit 1503?

AED 30,000 a year on the contract signed on 1 July 2023. The previous contract, from August 2022, was AED 25,000; the unit has been rented since April 2014.

How big is unit 1503?

459 sqft (42.6 sqm): a studio on the 15th floor of a 22-storey tower completed in 2009.

What is unit 1503 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Palace Towers Residential Block sold for AED 320,000 to 470,000 in the last 12 months, around AED 962 per sqft.

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Mortgage on 1503, Palace Towers Residential Block

Starts from the last sale price (AED 359K, 30 January 2011). Switch to today's estimate once you have unlocked it.
Price
AED 359,000
Deposit, UAE resident (20%)
AED 71,800
Deposit, non-resident (40%)
AED 143,600
Monthly over 25 years at 3.7%
AED 1,469

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