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Studio · 431 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 6th floor · completed 2009

616, Palace Towers Residential Block

Sold prices and rental history: sold 3 times, last in March 2019, and rented since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 616 · DLD and Ejari recordsUpdated 21 March 2019
Last soldAED 315K21 March 2019
Current rentAED 30K /yr5 December 2018
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 616, Palace Towers Residential Block

What is 616 worth today?

Last sold for AED 315,000 in 2019

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21 Mar 2019SoldReady
AED 315,000AED 730 per sqft
5 Dec 2018RentedNew contract
AED 30,000/yr12 months · AED 70 per sqft
28 Nov 2013RentedNew contract
AED 24,000/yr12 months · AED 56 per sqft
29 Dec 2011SoldReady
AED 350,000AED 811 per sqft
23 Jul 2009Sold by developerOff-plan
AED 350,000AED 811 per sqft

Source: Dubai Land Department. Updated 21 March 2019.

Key facts

Type
Studio apartment
Size
431 sqft
Floor
6th of 22
Parking
B1-25
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 6,900 /yr
Last sold
AED 315K · March 2019
Building
Palace Towers Residential Block

About 616, Palace Towers Residential Block

616 is a studio of 431 sqft on the 6th 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 March 2019 for AED 315,000, or AED 730 per sqft, 10% below the AED 809 studios in the building were fetching at the time.

It has been rented since 2013 on 2 Ejari contracts. The current contract, signed on 5 December 2018, is AED 30,000 a year: a gross yield of 9.5% on the 2019 price, before the service charge of about AED 6,900 a year.

Sales and rents for 616 over time

Sales
Unit 616, 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 350,000 (AED 811 per sqft)Sold, December 2011: AED 350,000 (AED 811 per sqft)Sold, March 2019: AED 315,000 (AED 730 per sqft)

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

Rents
Unit 616, 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, November 2013: AED 24,000 a yearNew contract, December 2018: 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 616 sits

All 280 studios →

616 last sold in March 2019 at AED 730 per sqft, 10% below what studios in Palace Towers Residential Block were fetching at the time (AED 809). 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. 616'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
9.3%
Palace Towers Residential Block, Dubai Silicon Oasis: prices, sales and rents →

Other units on the 6th floor

All 424 units in Palace Towers Residential Block
Value
6011-bedAED 620K · Jan 2017
602StudioAED 340K · Sep 2023
603StudioAED 440K · Aug 2024
604StudioAED 355K · Aug 2024
6052-bedAED 850K · Feb 2014
606StudioAED 340K · Aug 2013
607StudioAED 300K · Jan 2014
1–7 of 23

616, Palace Towers Residential Block in numbers

  • Sold 3 times: first on 23 July 2009 for AED 350,000, last on 21 March 2019 for AED 315,000 (AED 730 per sqft).
  • Rented since November 2013 on 2 Ejari contracts, from AED 24,000 to AED 30,000 a year.
  • At AED 30,000 a year the gross yield on the 2019 price is 9.5%, 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 21 March 2019.

Questions about 616, Palace Towers Residential Block

What did unit 616 last sell for?

AED 315,000 on 21 March 2019: AED 730 per sqft for 431 sqft. The unit has 3 registered sales; the first was AED 350,000 in July 2009.

What is the rent for unit 616?

AED 30,000 a year on the contract signed on 5 December 2018. The previous contract, from November 2013, was AED 24,000.

How big is unit 616?

431 sqft (40.0 sqm): a studio on the 6th floor of a 22-storey tower completed in 2009.

What is unit 616 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 616, Palace Towers Residential Block

Starts from the last sale price (AED 315K, 21 March 2019). Switch to today's estimate once you have unlocked it.
Price
AED 315,000
Deposit, UAE resident (20%)
AED 63,000
Deposit, non-resident (40%)
AED 126,000
Monthly over 25 years at 3.7%
AED 1,289

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