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Studio · 344 sqftPalace Towers Residential Block, Dubai Silicon Oasis · 7th floor · completed 2009

718, Palace Towers Residential Block

Sold prices and rental history: sold 5 times, last in February 2024, and rented continuously since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 718 · DLD and Ejari recordsUpdated 31 August 2024
Last soldAED 309K2 February 2024
Current rentAED 25K /yr31 August 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 718, Palace Towers Residential Block

What is 718 worth today?

Last sold for AED 308,500 in 2024

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31 Aug 2024RentedNew contract
AED 25,000/yr12 months · AED 73 per sqft
2 Feb 2024SoldReady
AED 308,500AED 897 per sqft
1 Sep 2023RentedRenewal
AED 25,300/yr12 months · AED 73 per sqft
1 Sep 2022RentedRenewal
AED 22,000/yr12 months · AED 64 per sqft
1 Sep 2021RentedRenewal
AED 20,000/yr12 months · AED 58 per sqft
1 Sep 2021RentedNew contract
AED 20,000/yr12 months · AED 58 per sqft
1 Sep 2020RentedNew contract
AED 20,000/yr12 months · AED 58 per sqft
1 Aug 2019RentedRenewal
AED 28,500/yr12 months · AED 83 per sqft

Source: Dubai Land Department. Updated 31 August 2024.

Key facts

Type
Studio apartment
Size
344 sqft
Floor
7th of 22
Parking
B1-67
Developer
Tameer Holding Investment
Completed
2009
Service charge
AED 5,500 /yr
Last sold
AED 309K · February 2024
Building
Palace Towers Residential Block

About 718, Palace Towers Residential Block

718 is a studio of 344 sqft on the 7th 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 2 February 2024 for AED 308,500, or AED 897 per sqft, 24% above the AED 722 studios in the building were fetching at the time.

It has been rented continuously since 2013 on 9 Ejari contracts. The current contract, signed on 31 August 2024, is AED 25,000 a year: a gross yield of 8.1% on the 2024 price, before the service charge of about AED 5,500 a year.

Sales and rents for 718 over time

Sales
Unit 718, 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 295,960 (AED 861 per sqft)Sold, February 2011: AED 295,960 (AED 861 per sqft)Sold, September 2013: AED 315,000 (AED 916 per sqft)Sold, October 2013: AED 377,500 (AED 1,098 per sqft)Sold, February 2024: AED 308,500 (AED 897 per sqft)

718 has sold 5 times; the dashed line is the studio median of each year in the building.

Rents
Unit 718, 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, December 2013: AED 37,000 a yearNew contract, August 2018: AED 30,000 a yearRenewal, August 2019: AED 28,500 a yearNew contract, September 2020: AED 20,000 a yearRenewal, September 2021: AED 20,000 a yearNew contract, September 2021: AED 20,000 a yearRenewal, September 2022: AED 22,000 a yearRenewal, September 2023: AED 25,300 a yearNew contract, August 2024: AED 25,000 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 718 sits

All 280 studios →

718 last sold in February 2024 at AED 897 per sqft, 24% above what studios in Palace Towers Residential Block were fetching at the time (AED 722). 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. 718's AED 25,000 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 7th floor

All 424 units in Palace Towers Residential Block
Value
7011-bedAED 360K · Mar 2012
702StudioAED 381K · Oct 2013
703StudioAED 380K · Aug 2013
704StudioAED 270K · Apr 2019
7052-bedAED 450K · Apr 2013
706StudioAED 151K · Jul 2012
707StudioAED 220K · Sep 2022
1–7 of 23

718, Palace Towers Residential Block in numbers

  • Sold 5 times: first on 23 July 2009 for AED 295,960, last on 2 February 2024 for AED 308,500 (AED 897 per sqft).
  • Rented since December 2013 on 9 Ejari contracts. The rent fell from AED 37,000 to AED 20,000 in 2021 and recovered to AED 25,000 by August 2024.
  • At AED 25,000 a year the gross yield on the 2024 price is 8.1%, before a service charge of about AED 5,500 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 31 August 2024.

Questions about 718, Palace Towers Residential Block

What did unit 718 last sell for?

AED 308,500 on 2 February 2024: AED 897 per sqft for 344 sqft. The unit has 5 registered sales; the first was AED 295,960 in July 2009.

What is the rent for unit 718?

AED 25,000 a year on the contract signed on 31 August 2024. The previous contract, from September 2023, was AED 25,300; the unit has been rented since December 2013.

How big is unit 718?

344 sqft (32.0 sqm): a studio on the 7th floor of a 22-storey tower completed in 2009.

What is unit 718 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 718, Palace Towers Residential Block

Starts from the last sale price (AED 309K, 2 February 2024). Switch to today's estimate once you have unlocked it.
Price
AED 308,500
Deposit, UAE resident (20%)
AED 61,700
Deposit, non-resident (40%)
AED 123,400
Monthly over 25 years at 3.7%
AED 1,262

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