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Studio · 431 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 16th floor · completed 2009

1609, Palace Towers Residential Block

Sold prices and rental history: sold 5 times, last in April 2017, and rented continuously since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1609 · DLD and Ejari recordsUpdated 18 October 2026
Last soldAED 445K25 April 2017
Current rentAED 32K /yr18 October 2026
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1609, Palace Towers Residential Block

What is 1609 worth today?

Last sold for AED 445,000 in 2017

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18 Oct 2026RentedRenewal
AED 32,142/yr12 months · AED 75 per sqft
18 Oct 2025RentedRenewal
AED 32,142/yr12 months · AED 75 per sqft
18 Oct 2024RentedRenewal
AED 32,142/yr12 months · AED 75 per sqft
18 Oct 2023RentedRenewal
AED 29,220/yr12 months · AED 68 per sqft
18 Oct 2022RentedRenewal
AED 26,565/yr12 months · AED 62 per sqft
18 Oct 2021RentedRenewal
AED 23,100/yr12 months · AED 54 per sqft
18 Oct 2020RentedNew contract
AED 21,000/yr12 months · AED 49 per sqft
10 Jun 2019RentedNew contract
AED 27,000/yr12 months · AED 63 per sqft

Source: Dubai Land Department. Updated 18 October 2026.

Key facts

Type
Studio apartment
Size
431 sqft
Floor
16th of 22
Parking
B2-181
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 6,900 /yr
Last sold
AED 445K · April 2017
Building
Palace Towers Residential Block

About 1609, Palace Towers Residential Block

1609 is a studio of 431 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 25 April 2017 for AED 445,000, or AED 1,031 per sqft, 11% above the AED 931 studios in the building were fetching at the time.

It has been rented continuously since 2017 on 9 Ejari contracts. The current contract, renewed on 18 October 2026, is AED 32,142 a year: a gross yield of 7.2% on the 2017 price, before the service charge of about AED 6,900 a year.

Sales and rents for 1609 over time

Sales
Unit 1609, each saleTypical studio in Palace Towers Residential Block
200K400K2009201420192024Typical 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, October 2009: AED 424,710 (AED 984 per sqft)Sold, June 2010: AED 363,600 (AED 843 per sqft)Sold, September 2010: AED 216,900 (AED 502 per sqft)Sold, August 2016: AED 395,000 (AED 915 per sqft)Sold, April 2017: AED 445,000 (AED 1,031 per sqft)

1609 has sold 5 times; the dashed line is the studio median of each year in the building.

Rents
Unit 1609, 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, May 2017: AED 43,000 a yearNew contract, June 2019: AED 27,000 a yearNew contract, October 2020: AED 21,000 a yearRenewal, October 2021: AED 23,100 a yearRenewal, October 2022: AED 26,565 a yearRenewal, October 2023: AED 29,220 a yearRenewal, October 2024: AED 32,142 a yearRenewal, October 2025: AED 32,142 a yearRenewal, October 2026: AED 32,142 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 1609 sits

All 280 studios →

1609 last sold in April 2017 at AED 1,031 per sqft, 11% above what studios in Palace Towers Residential Block were fetching at the time (AED 931). 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. 1609's AED 32,142 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
1606StudioAED 250K · Apr 2022
1607StudioAED 410K · Feb 2024
1–7 of 23

1609, Palace Towers Residential Block in numbers

  • Sold 5 times: first on 27 October 2009 for AED 424,710, last on 25 April 2017 for AED 445,000 (AED 1,031 per sqft).
  • Rented since May 2017 on 9 Ejari contracts. The rent fell from AED 43,000 to AED 21,000 in 2020 and recovered to AED 32,142 by October 2026.
  • At AED 32,142 a year the gross yield on the 2017 price is 7.2%, before a service charge of about AED 6,900 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 18 October 2026.

Questions about 1609, Palace Towers Residential Block

What did unit 1609 last sell for?

AED 445,000 on 25 April 2017: AED 1,031 per sqft for 431 sqft. The unit has 5 registered sales; the first was AED 424,710 in October 2009.

What is the rent for unit 1609?

AED 32,142 a year on the contract renewed on 18 October 2026. The previous contract, from October 2025, was AED 32,142; the unit has been rented since May 2017.

How big is unit 1609?

431 sqft (40.0 sqm): a studio on the 16th floor of a 22-storey tower completed in 2009.

What is unit 1609 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 1609, Palace Towers Residential Block

Starts from the last sale price (AED 445K, 25 April 2017). Switch to today's estimate once you have unlocked it.
Price
AED 445,000
Deposit, UAE resident (20%)
AED 89,000
Deposit, non-resident (40%)
AED 178,000
Monthly over 25 years at 3.7%
AED 1,821

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