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Studio · 470 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 6th floor · completed 2009

623, Palace Towers Residential Block

Sold prices and rental history: sold 3 times, last in June 2011, and rented continuously since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 623 · DLD and Ejari recordsUpdated 5 January 2026
Last soldAED 200K28 June 2011
Current rentAED 35K /yr5 January 2026
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 623, Palace Towers Residential Block

What is 623 worth today?

Last sold for AED 200,000 in 2011

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5 Jan 2026RentedNew contract
AED 35,000/yr12 months · AED 74 per sqft
5 Jan 2025RentedNew contract
AED 32,300/yr12 months · AED 68 per sqft
5 Jan 2024RentedRenewal
AED 30,800/yr12 months · AED 65 per sqft
5 Jan 2023RentedNew contract
AED 28,000/yr12 months · AED 59 per sqft
5 Jan 2021RentedRenewal
AED 23,000/yr12 months · AED 49 per sqft
5 Jan 2020RentedNew contract
AED 28,000/yr12 months · AED 59 per sqft
1 Dec 2019RentedNew contract
AED 28,000/yr12 months · AED 59 per sqft
10 Nov 2017RentedNew contract
AED 40,000/yr12 months · AED 84 per sqft

Source: Dubai Land Department. Updated 5 January 2026.

Key facts

Type
Studio apartment
Size
470 sqft
Floor
6th of 22
Parking
B2-30
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 7,600 /yr
Last sold
AED 200K · June 2011
Building
Palace Towers Residential Block

About 623, Palace Towers Residential Block

623 is a studio of 470 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 28 June 2011 for AED 200,000, or AED 425 per sqft, 49% below the AED 829 studios in the building were fetching at the time.

It has been rented continuously since 2013 on 11 Ejari contracts. The current contract, signed on 5 January 2026, is AED 35,000 a year: a gross yield of 17.5% on the 2011 price, before the service charge of about AED 7,600 a year.

Sales and rents for 623 over time

Sales
Unit 623, 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 387,090 (AED 822 per sqft)Sold, February 2011: AED 387,090 (AED 822 per sqft)Sold, June 2011: AED 200,000 (AED 425 per sqft)

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

Rents
Unit 623, each contractTypical studio in Palace Towers Residential Block
20K40K2012201620202024Typical 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, June 2013: AED 32,000 a yearNew contract, September 2015: AED 50,000 a yearRenewal, September 2016: AED 50,000 a yearNew contract, November 2017: AED 40,000 a yearNew contract, December 2019: AED 28,000 a yearNew contract, January 2020: AED 28,000 a yearRenewal, January 2021: AED 23,000 a yearNew contract, January 2023: AED 28,000 a yearRenewal, January 2024: AED 30,800 a yearNew contract, January 2025: AED 32,300 a yearNew contract, January 2026: AED 35,000 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 623 sits

All 280 studios →

623 last sold in June 2011 at AED 425 per sqft, 49% below what studios in Palace Towers Residential Block were fetching at the time (AED 829). 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. 623's AED 35,000 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

623, Palace Towers Residential Block in numbers

  • Sold 3 times: first on 23 July 2009 for AED 387,090, last on 28 June 2011 for AED 200,000 (AED 425 per sqft).
  • Rented since June 2013 on 11 Ejari contracts. The rent fell from AED 32,000 to AED 23,000 in 2021 and recovered to AED 35,000 by January 2026.
  • At AED 35,000 a year the gross yield on the 2011 price is 17.5%, 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 5 January 2026.

Questions about 623, Palace Towers Residential Block

What did unit 623 last sell for?

AED 200,000 on 28 June 2011: AED 425 per sqft for 470 sqft. The unit has 3 registered sales; the first was AED 387,090 in July 2009.

What is the rent for unit 623?

AED 35,000 a year on the contract signed on 5 January 2026. The previous contract, from January 2025, was AED 32,300; the unit has been rented since June 2013.

How big is unit 623?

470 sqft (43.7 sqm): a studio on the 6th floor of a 22-storey tower completed in 2009.

What is unit 623 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 623, Palace Towers Residential Block

Starts from the last sale price (AED 200K, 28 June 2011). Switch to today's estimate once you have unlocked it.
Price
AED 200,000
Deposit, UAE resident (20%)
AED 40,000
Deposit, non-resident (40%)
AED 80,000
Monthly over 25 years at 3.7%
AED 818

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