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Studio · 470 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 20th floor · completed 2009

2023, Palace Towers Residential Block

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

Unit 2023 · DLD and Ejari recordsUpdated 29 October 2023
Last soldAED 484K21 January 2013
Current rentAED 26K /yr29 October 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2023, Palace Towers Residential Block

What is 2023 worth today?

Last sold for AED 484,463 in 2013

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29 Oct 2023RentedNew contract
AED 25,930/yr12 months · AED 55 per sqft
25 Oct 2022RentedNew contract
AED 23,000/yr12 months · AED 49 per sqft
15 May 2017RentedNew contract
AED 40,000/yr12 months · AED 84 per sqft
21 Jan 2013SoldReady
AED 484,463AED 1,029 per sqft
1 Jan 2013RentedNew contract
AED 28,000/yr12 months · AED 59 per sqft
28 Jul 2009Sold by developerOff-plan
AED 484,463AED 1,029 per sqft

Source: Dubai Land Department. Updated 29 October 2023.

Key facts

Type
Studio apartment
Size
470 sqft
Floor
20th of 22
Parking
L1-42
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 7,600 /yr
Last sold
AED 484K · January 2013
Building
Palace Towers Residential Block

About 2023, Palace Towers Residential Block

2023 is a studio of 470 sqft on the 20th 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 21 January 2013 for AED 484,463, or AED 1,029 per sqft, 72% above the AED 598 studios in the building were fetching at the time.

It has been rented continuously since 2013 on 4 Ejari contracts. The current contract, signed on 29 October 2023, is AED 25,930 a year: a gross yield of 5.3% on the 2013 price, before the service charge of about AED 7,600 a year.

Sales and rents for 2023 over time

Sales
Unit 2023, 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, July 2009: AED 484,463 (AED 1,029 per sqft)Sold, January 2013: AED 484,463 (AED 1,029 per sqft)

2023 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 2023, 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, January 2013: AED 28,000 a yearNew contract, May 2017: AED 40,000 a yearNew contract, October 2022: AED 23,000 a yearNew contract, October 2023: AED 25,930 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 2023 sits

All 280 studios →

2023 last sold in January 2013 at AED 1,029 per sqft, 72% above what studios in Palace Towers Residential Block were fetching at the time (AED 598). 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. 2023's AED 25,930 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 20th floor

All 424 units in Palace Towers Residential Block
Value
20011-bedAED 580K · Jul 2025
2002StudioAED 362K · Apr 2024
2003StudioAED 369K · Jun 2010
2004StudioAED 460K · Mar 2020
20052-bedAED 850K · Feb 2014
2006StudioAED 387K · Jul 2011
2007StudioAED 425K · May 2014
1–7 of 23

2023, Palace Towers Residential Block in numbers

  • Sold twice: first on 28 July 2009 for AED 484,463, last on 21 January 2013 for AED 484,463 (AED 1,029 per sqft).
  • Rented since January 2013 on 4 Ejari contracts. The rent fell from AED 28,000 to AED 23,000 in 2022 and recovered to AED 25,930 by October 2023.
  • At AED 25,930 a year the gross yield on the 2013 price is 5.3%, 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 29 October 2023.

Questions about 2023, Palace Towers Residential Block

What did unit 2023 last sell for?

AED 484,463 on 21 January 2013: AED 1,029 per sqft for 470 sqft. The unit has 2 registered sales; the first was AED 484,463 in July 2009.

What is the rent for unit 2023?

AED 25,930 a year on the contract signed on 29 October 2023. The previous contract, from October 2022, was AED 23,000; the unit has been rented since January 2013.

How big is unit 2023?

470 sqft (43.7 sqm): a studio on the 20th floor of a 22-storey tower completed in 2009.

What is unit 2023 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 2023, Palace Towers Residential Block

Starts from the last sale price (AED 484K, 21 January 2013). Switch to today's estimate once you have unlocked it.
Price
AED 484,463
Deposit, UAE resident (20%)
AED 96,893
Deposit, non-resident (40%)
AED 193,785
Monthly over 25 years at 3.7%
AED 1,982

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