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Studio · 459 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 6th floor · completed 2009

622, Palace Towers Residential Block

Sold prices and rental history: sold 4 times, last in November 2020, and rented continuously since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 622 · DLD and Ejari recordsUpdated 15 June 2024
Last soldAED 230K24 November 2020
Current rentAED 22K /yr15 June 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 622, Palace Towers Residential Block

What is 622 worth today?

Last sold for AED 230,000 in 2020

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15 Jun 2024RentedRenewal
AED 22,000/yr12 months · AED 48 per sqft
24 Nov 2020SoldReady
AED 230,000AED 501 per sqft
27 May 2019RentedNew contract
AED 27,925/yr12 months · AED 60 per sqft
5 Jul 2018RentedNew contract
AED 40,000/yr12 months · AED 86 per sqft
6 Apr 2017RentedNew contract
AED 40,000/yr12 months · AED 86 per sqft
9 May 2010SoldReady
AED 371,000AED 808 per sqft
20 Dec 2009Sold by developerOff-plan
AED 371,000AED 808 per sqft
20 Dec 2009SoldOff-plan
AED 371,000AED 808 per sqft

Source: Dubai Land Department. Updated 15 June 2024.

Key facts

Type
Studio apartment
Size
459 sqft
Floor
6th of 22
Parking
B2-221
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 7,400 /yr
Last sold
AED 230K · November 2020
Building
Palace Towers Residential Block

About 622, Palace Towers Residential Block

622 is a studio of 459 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 24 November 2020 for AED 230,000, or AED 501 per sqft, in line with the AED 501 studios in the building were fetching at the time.

It has been rented continuously since 2017 on 4 Ejari contracts. The current contract, renewed on 15 June 2024, is AED 22,000 a year: a gross yield of 9.6% on the 2020 price, before the service charge of about AED 7,400 a year.

Sales and rents for 622 over time

Sales
Unit 622, 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, December 2009: AED 371,000 (AED 808 per sqft)Sold, December 2009: AED 371,000 (AED 808 per sqft)Sold, May 2010: AED 371,000 (AED 808 per sqft)Sold, November 2020: AED 230,000 (AED 501 per sqft)

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

Rents
Unit 622, 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, April 2017: AED 40,000 a yearNew contract, July 2018: AED 40,000 a yearNew contract, May 2019: AED 27,925 a yearRenewal, June 2024: AED 22,000 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 622 sits

All 280 studios →

622 last sold in November 2020 at AED 501 per sqft, in line with what studios in Palace Towers Residential Block were fetching at the time (AED 501). 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. 622's AED 22,000 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 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

622, Palace Towers Residential Block in numbers

  • Sold 4 times: first on 20 December 2009 for AED 371,000, last on 24 November 2020 for AED 230,000 (AED 501 per sqft).
  • Rented since April 2017 on 4 Ejari contracts, from AED 40,000 to AED 22,000 a year.
  • At AED 22,000 a year the gross yield on the 2020 price is 9.6%, before a service charge of about AED 7,400 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 15 June 2024.

Questions about 622, Palace Towers Residential Block

What did unit 622 last sell for?

AED 230,000 on 24 November 2020: AED 501 per sqft for 459 sqft. The unit has 4 registered sales; the first was AED 371,000 in December 2009.

What is the rent for unit 622?

AED 22,000 a year on the contract renewed on 15 June 2024. The previous contract, from May 2019, was AED 27,925; the unit has been rented since April 2017.

How big is unit 622?

459 sqft (42.6 sqm): a studio on the 6th floor of a 22-storey tower completed in 2009.

What is unit 622 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 622, Palace Towers Residential Block

Starts from the last sale price (AED 230K, 24 November 2020). Switch to today's estimate once you have unlocked it.
Price
AED 230,000
Deposit, UAE resident (20%)
AED 46,000
Deposit, non-resident (40%)
AED 92,000
Monthly over 25 years at 3.7%
AED 941

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