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Studio · 470 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 16th floor · completed 2009

1602, Palace Towers Residential Block

Sold prices and rental history: sold 3 times, last in August 2011, and rented continuously since 2014. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1602 · DLD and Ejari recordsUpdated 12 March 2026
Last soldAED 215K18 August 2011
Current rentAED 44K /yr12 March 2026
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1602, Palace Towers Residential Block

What is 1602 worth today?

Last sold for AED 215,000 in 2011

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12 Mar 2026RentedRenewal
AED 44,100/yr12 months · AED 94 per sqft
12 Mar 2025RentedRenewal
AED 42,000/yr12 months · AED 89 per sqft
12 Mar 2024RentedNew contract
AED 40,000/yr12 months · AED 85 per sqft
10 Sep 2022RentedNew contract
AED 25,200/yr12 months · AED 54 per sqft
10 Sep 2021RentedNew contract
AED 21,000/yr12 months · AED 45 per sqft
10 Sep 2020RentedNew contract
AED 21,000/yr12 months · AED 44 per sqft
1 Nov 2018RentedRenewal
AED 37,000/yr12 months · AED 78 per sqft
1 Nov 2017RentedRenewal
AED 42,000/yr12 months · AED 89 per sqft

Source: Dubai Land Department. Updated 12 March 2026.

Key facts

Type
Studio apartment
Size
470 sqft
Floor
16th of 22
Parking
B1-189
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 7,600 /yr
Last sold
AED 215K · August 2011
Building
Palace Towers Residential Block

About 1602, Palace Towers Residential Block

1602 is a studio of 470 sqft on the 16th 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 18 August 2011 for AED 215,000, or AED 457 per sqft, 45% below the AED 829 studios in the building were fetching at the time.

It has been rented continuously since 2014 on 10 Ejari contracts. The current contract, renewed on 12 March 2026, is AED 44,100 a year: a gross yield of 20.5% on the 2011 price, before the service charge of about AED 7,600 a year.

Sales and rents for 1602 over time

Sales
Unit 1602, 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 373,380 (AED 793 per sqft)Sold, July 2011: AED 373,380 (AED 793 per sqft)Sold, August 2011: AED 215,000 (AED 457 per sqft)

1602 has sold 3 times; the dashed line is the studio median of each year in the building.

Rents
Unit 1602, each contractTypical studio in Palace Towers Residential Block
20K40K2012201620202024Typical 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, August 2014: AED 46,000 a yearNew contract, November 2016: AED 42,000 a yearRenewal, November 2017: AED 42,000 a yearRenewal, November 2018: AED 37,000 a yearNew contract, September 2020: AED 21,000 a yearNew contract, September 2021: AED 21,000 a yearNew contract, September 2022: AED 25,200 a yearNew contract, March 2024: AED 40,000 a yearRenewal, March 2025: AED 42,000 a yearRenewal, March 2026: AED 44,100 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 1602 sits

All 280 studios →

1602 last sold in August 2011 at AED 457 per sqft, 45% below what studios in Palace Towers Residential Block were fetching at the time (AED 829). 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. 1602's AED 44,100 is in the upper 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 16th floor

All 424 units in Palace Towers Residential Block
Value
16011-bedAED 650K · Feb 2011
1603StudioAED 255K · Nov 2021
1604StudioAED 500K · Jul 2014
16052-bedAED 590K · Nov 2018
1606StudioAED 250K · Apr 2022
1607StudioAED 410K · Feb 2024
16082-bedAED 410K · Apr 2011
1–7 of 23

1602, Palace Towers Residential Block in numbers

  • Sold 3 times: first on 27 July 2009 for AED 373,380, last on 18 August 2011 for AED 215,000 (AED 457 per sqft).
  • Rented since August 2014 on 10 Ejari contracts. The rent fell from AED 46,000 to AED 21,000 in 2021 and recovered to AED 44,100 by March 2026.
  • At AED 44,100 a year the gross yield on the 2011 price is 20.5%, before a service charge of about AED 7,600 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 12 March 2026.

Questions about 1602, Palace Towers Residential Block

What did unit 1602 last sell for?

AED 215,000 on 18 August 2011: AED 457 per sqft for 470 sqft. The unit has 3 registered sales; the first was AED 373,380 in July 2009.

What is the rent for unit 1602?

AED 44,100 a year on the contract renewed on 12 March 2026. The previous contract, from March 2025, was AED 42,000; the unit has been rented since August 2014.

How big is unit 1602?

470 sqft (43.7 sqm): a studio on the 16th floor of a 22-storey tower completed in 2009.

What is unit 1602 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 1602, Palace Towers Residential Block

Starts from the last sale price (AED 215K, 18 August 2011). Switch to today's estimate once you have unlocked it.
Price
AED 215,000
Deposit, UAE resident (20%)
AED 43,000
Deposit, non-resident (40%)
AED 86,000
Monthly over 25 years at 3.7%
AED 880

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