Home
Dubai prices
About
Research
Studio · 459 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 16th floor · completed 2009

1603, Palace Towers Residential Block

Sold prices and rental history: sold 4 times, last in November 2021, and rented since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1603 · DLD and Ejari recordsUpdated 3 November 2021
Last soldAED 255K3 November 2021
Current rentAED 26K /yr15 December 2019
Estimated yieldfree after one verification
Today's valuefree after one verification
Follow 1603

Property timeline for 1603, Palace Towers Residential Block

What is 1603 worth today?

Last sold for AED 255,000 in 2021

Unlock today's estimate, updated daily, with

Verify once to see valuations for every property. Everything else on this page is open.

3 Nov 2021SoldReady
AED 255,000AED 555 per sqft
15 Dec 2019RentedNew contract
AED 26,000/yr12 months · AED 56 per sqft
17 May 2017SoldReady
AED 310,000AED 675 per sqft
15 Oct 2013RentedNew contract
AED 40,000/yr12 months · AED 86 per sqft
28 Jul 2010SoldReady
AED 361,000AED 786 per sqft
21 Apr 2010Sold by developerOff-plan
AED 361,000AED 786 per sqft

Source: Dubai Land Department. Updated 3 November 2021.

Key facts

Type
Studio apartment
Size
459 sqft
Floor
16th of 22
Parking
B1-110
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 7,400 /yr
Last sold
AED 255K · November 2021
Building
Palace Towers Residential Block

About 1603, Palace Towers Residential Block

1603 is a studio of 459 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 3 November 2021 for AED 255,000, or AED 555 per sqft, 11% above the AED 501 studios in the building were fetching at the time.

It has been rented since 2013 on 2 Ejari contracts. The current contract, signed on 15 December 2019, is AED 26,000 a year: a gross yield of 10.2% on the 2021 price, before the service charge of about AED 7,400 a year.

Sales and rents for 1603 over time

Sales
Unit 1603, 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, April 2010: AED 361,000 (AED 786 per sqft)Sold, July 2010: AED 361,000 (AED 786 per sqft)Sold, May 2017: AED 310,000 (AED 675 per sqft)Sold, November 2021: AED 255,000 (AED 555 per sqft)

1603 has sold 4 times; the dashed line is the studio median of each year in the building.

Rents
Unit 1603, 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, October 2013: AED 40,000 a yearNew contract, December 2019: AED 26,000 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 1603 sits

All 280 studios →

1603 last sold in November 2021 at AED 555 per sqft, 11% above what studios in Palace Towers Residential Block were fetching at the time (AED 501). 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. 1603's AED 26,000 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
9.3%
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
1602StudioAED 215K · Aug 2011
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

1603, Palace Towers Residential Block in numbers

  • Sold 4 times: first on 21 April 2010 for AED 361,000, last on 3 November 2021 for AED 255,000 (AED 555 per sqft).
  • Rented since October 2013 on 2 Ejari contracts, from AED 40,000 to AED 26,000 a year.
  • At AED 26,000 a year the gross yield on the 2021 price is 10.2%, 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 3 November 2021.

Questions about 1603, Palace Towers Residential Block

What did unit 1603 last sell for?

AED 255,000 on 3 November 2021: AED 555 per sqft for 459 sqft. The unit has 4 registered sales; the first was AED 361,000 in April 2010.

What is the rent for unit 1603?

AED 26,000 a year on the contract signed on 15 December 2019. The previous contract, from October 2013, was AED 40,000.

How big is unit 1603?

459 sqft (42.6 sqm): a studio on the 16th floor of a 22-storey tower completed in 2009.

What is unit 1603 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.

Selling 1603? Put it on the OpenOffers board

Public offers from verified, deposit-backed buyers; a reserve you set; no fee unless it sells, then 1%. Sale agreed in weeks, not months.

How OpenOffers works

Mortgage on 1603, Palace Towers Residential Block

Starts from the last sale price (AED 255K, 3 November 2021). Switch to today's estimate once you have unlocked it.
Price
AED 255,000
Deposit, UAE resident (20%)
AED 51,000
Deposit, non-resident (40%)
AED 102,000
Monthly over 25 years at 3.7%
AED 1,043

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