Home
Dubai prices
About
Research
Studio · 344 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 16th floor · completed 2009

1606, Palace Towers Residential Block

Sold prices and rental history: sold 4 times, last in April 2022, and rented continuously since 2016. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1606 · DLD and Ejari recordsUpdated 10 February 2025
Last soldAED 250K13 April 2022
Current rentAED 30K /yr10 February 2025
Estimated yieldfree after one verification
Today's valuefree after one verification
Follow 1606

Property timeline for 1606, Palace Towers Residential Block

What is 1606 worth today?

Last sold for AED 250,000 in 2022

Unlock today's estimate, updated daily, with

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

10 Feb 2025RentedRenewal
AED 30,000/yr24 months · AED 87 per sqft
10 Feb 2024RentedNew contract
AED 28,500/yr12 months · AED 83 per sqft
13 Apr 2022SoldReady
AED 250,000AED 727 per sqft
10 Feb 2021RentedNew contract
AED 19,000/yr12 months · AED 55 per sqft
1 Feb 2020RentedRenewal
AED 25,000/yr12 months · AED 73 per sqft
1 Feb 2019RentedNew contract
AED 28,000/yr12 months · AED 81 per sqft
24 Oct 2017SoldReady
AED 350,000AED 1,018 per sqft
25 Dec 2016RentedNew contract
AED 37,000/yr12 months · AED 107 per sqft

Source: Dubai Land Department. Updated 10 February 2025.

Key facts

Type
Studio apartment
Size
344 sqft
Floor
16th of 22
Parking
B2-218
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 5,500 /yr
Last sold
AED 250K · April 2022
Building
Palace Towers Residential Block

About 1606, Palace Towers Residential Block

1606 is a studio of 344 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 13 April 2022 for AED 250,000, or AED 727 per sqft, 29% above the AED 562 studios in the building were fetching at the time.

It has been rented continuously since 2016 on 6 Ejari contracts. The current contract, renewed on 10 February 2025, is AED 30,000 a year: a gross yield of 12.0% on the 2022 price, before the service charge of about AED 5,500 a year.

Sales and rents for 1606 over time

Sales
Unit 1606, 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 320,000 (AED 931 per sqft)Sold, February 2011: AED 320,000 (AED 931 per sqft)Sold, October 2017: AED 350,000 (AED 1,018 per sqft)Sold, April 2022: AED 250,000 (AED 727 per sqft)

1606 has sold 4 times; the dashed line is the studio median of each year in the building.

Rents
Unit 1606, 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, December 2016: AED 37,000 a yearNew contract, February 2019: AED 28,000 a yearRenewal, February 2020: AED 25,000 a yearNew contract, February 2021: AED 19,000 a yearNew contract, February 2024: AED 28,500 a yearRenewal, February 2025: 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 1606 sits

All 280 studios →

1606 last sold in April 2022 at AED 727 per sqft, 29% above what studios in Palace Towers Residential Block were fetching at the time (AED 562). 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. 1606'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 16th floor

All 424 units in Palace Towers Residential Block
Value
16011-bedAED 650K · Feb 2011
1602StudioAED 215K · Aug 2011
1603StudioAED 255K · Nov 2021
1604StudioAED 500K · Jul 2014
16052-bedAED 590K · Nov 2018
1607StudioAED 410K · Feb 2024
16082-bedAED 410K · Apr 2011
1–7 of 23

1606, Palace Towers Residential Block in numbers

  • Sold 4 times: first on 27 July 2009 for AED 320,000, last on 13 April 2022 for AED 250,000 (AED 727 per sqft).
  • Rented since December 2016 on 6 Ejari contracts. The rent fell from AED 37,000 to AED 19,000 in 2021 and recovered to AED 30,000 by February 2025.
  • At AED 30,000 a year the gross yield on the 2022 price is 12.0%, before a service charge of about AED 5,500 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 10 February 2025.

Questions about 1606, Palace Towers Residential Block

What did unit 1606 last sell for?

AED 250,000 on 13 April 2022: AED 727 per sqft for 344 sqft. The unit has 4 registered sales; the first was AED 320,000 in July 2009.

What is the rent for unit 1606?

AED 30,000 a year on the contract renewed on 10 February 2025. The previous contract, from February 2024, was AED 28,500; the unit has been rented since December 2016.

How big is unit 1606?

344 sqft (32.0 sqm): a studio on the 16th floor of a 22-storey tower completed in 2009.

What is unit 1606 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 1606? 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 1606, Palace Towers Residential Block

Starts from the last sale price (AED 250K, 13 April 2022). Switch to today's estimate once you have unlocked it.
Price
AED 250,000
Deposit, UAE resident (20%)
AED 50,000
Deposit, non-resident (40%)
AED 100,000
Monthly over 25 years at 3.7%
AED 1,023

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