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Studio · 431 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 5th floor · completed 2009

509, Palace Towers Residential Block

Sold prices and rental history: sold 3 times, last in October 2023, and rented since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 509 · DLD and Ejari recordsUpdated 5 October 2023
Last soldAED 332K5 October 2023
Current rentAED 20K /yr15 September 2020
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 509, Palace Towers Residential Block

What is 509 worth today?

Last sold for AED 331,500 in 2023

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5 Oct 2023SoldReady
AED 331,500AED 768 per sqft
15 Sep 2020RentedNew contract
AED 20,000/yr12 months · AED 46 per sqft
22 Feb 2019RentedNew contract
AED 30,000/yr12 months · AED 70 per sqft
20 Oct 2017RentedNew contract
AED 38,000/yr12 months · AED 88 per sqft
7 Jul 2010SoldReady
AED 330,600AED 766 per sqft
27 Oct 2009Sold by developerOff-plan
AED 330,600AED 766 per sqft

Source: Dubai Land Department. Updated 5 October 2023.

Key facts

Type
Studio apartment
Size
431 sqft
Floor
5th of 22
Parking
B2-130
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 6,900 /yr
Last sold
AED 332K · October 2023
Building
Palace Towers Residential Block

About 509, Palace Towers Residential Block

509 is a studio of 431 sqft on the 5th 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 5 October 2023 for AED 331,500, or AED 768 per sqft, 16% above the AED 660 studios in the building were fetching at the time.

It has been rented since 2017 on 3 Ejari contracts. The current contract, signed on 15 September 2020, is AED 20,000 a year: a gross yield of 6.0% on the 2023 price, before the service charge of about AED 6,900 a year.

Sales and rents for 509 over time

Sales
Unit 509, 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, October 2009: AED 330,600 (AED 766 per sqft)Sold, July 2010: AED 330,600 (AED 766 per sqft)Sold, October 2023: AED 331,500 (AED 768 per sqft)

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

Rents
Unit 509, 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 2017: AED 38,000 a yearNew contract, February 2019: AED 30,000 a yearNew contract, September 2020: AED 20,000 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 509 sits

All 280 studios →

509 last sold in October 2023 at AED 768 per sqft, 16% above what studios in Palace Towers Residential Block were fetching at the time (AED 660). 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. 509's AED 20,000 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 5th floor

All 424 units in Palace Towers Residential Block
Value
5011-bedAED 385K · Jul 2021
502StudioAED 359K · Aug 2010
503StudioAED 339K · Jun 2010
504StudioAED 319K · May 2010
5052-bedAED 175K · Sep 2025
506StudioAED 298K · Aug 2010
507StudioAED 325K · Oct 2023
1–7 of 23

509, Palace Towers Residential Block in numbers

  • Sold 3 times: first on 27 October 2009 for AED 330,600, last on 5 October 2023 for AED 331,500 (AED 768 per sqft).
  • Rented since October 2017 on 3 Ejari contracts, from AED 38,000 to AED 20,000 a year.
  • At AED 20,000 a year the gross yield on the 2023 price is 6.0%, 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 5 October 2023.

Questions about 509, Palace Towers Residential Block

What did unit 509 last sell for?

AED 331,500 on 5 October 2023: AED 768 per sqft for 431 sqft. The unit has 3 registered sales; the first was AED 330,600 in October 2009.

What is the rent for unit 509?

AED 20,000 a year on the contract signed on 15 September 2020. The previous contract, from February 2019, was AED 30,000; the unit has been rented since October 2017.

How big is unit 509?

431 sqft (40.0 sqm): a studio on the 5th floor of a 22-storey tower completed in 2009.

What is unit 509 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 509, Palace Towers Residential Block

Starts from the last sale price (AED 332K, 5 October 2023). Switch to today's estimate once you have unlocked it.
Price
AED 331,500
Deposit, UAE resident (20%)
AED 66,300
Deposit, non-resident (40%)
AED 132,600
Monthly over 25 years at 3.7%
AED 1,356

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