515, Modelux Tower 1
Sold prices and rental history: sold once, by the developer in September 2022, and rented since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 515, Modelux Tower 1
What is 515 worth today?
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Source: Dubai Land Department. Updated 22 September 2022.
Key facts
- Type
- 2-bed apartment
- Size
- 830 sqft
- Floor
- 5th of 6
- Parking
- B-515
- Developer
- Modelux Real Estate Development
- Completed
- 2017
- Service charge
- AED 11,000 /yr
- Last sold
- AED 438K · September 2022
- Building
- Modelux Tower 1
About 515, Modelux Tower 1
515 is a two-bedroom apartment of 830 sqft on the 5th floor of Modelux Tower 1, a 6-storey tower in International City Phase 2 & 3 completed in 2017 by Modelux Real Estate Development. The developer sold it on 22 September 2022 for AED 437,500, or AED 527 per sqft.
It has been rented since 2020 on 2 Ejari contracts. The current contract, renewed on 16 July 2021, is AED 34,000 a year: a gross yield of 7.8% on the 2022 price, before the service charge of about AED 11,000 a year.
Sales and rents for 515 over time
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in Modelux Tower 1, and where 515 sits
All 6 2-beds →| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 20 Oct 202520 October 2025 | 946 sqft | 850,000 | 898 | ||
| 10 Sep 202510 September 2025 | 946 sqft | 830,000 | 877 | ||
| 5 Apr 20245 April 2024 | 931 sqft | 500,000 | 537 | ||
| 16 Mar 202316 March 2023 | 946 sqft | 500,000 | 528 |
Modelux Tower 1
Building78 apartments, studios to 2-bed over 6 floors in International City Phase 2 & 3, completed in 2017 by Modelux Real Estate Development. 9 sold in the last 12 months.
- Typical price per sqft
- AED 922
- Typical sale
- AED 480K
- Typical rent
- AED 41K /yr
- Typical yield
- 8.5%
Other units on the 5th floor
All 78 units in Modelux Tower 1| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | Studio | 529 sqft | AED 300KAED 300,000 · Mar 2023March 2023 | ||
| 502 | Studio | 514 sqft | AED 290KAED 290,000 · Aug 2019August 2019 | ||
| 503 | Studio | 526 sqft | AED 485KAED 485,000 · Jul 2026July 2026 | 22,000 /yr | |
| 504 | Studio | 522 sqft | AED 255KAED 255,000 · May 2021May 2021 | 40,000 /yr | |
| 505 | Studio | 521 sqft | AED 450KAED 450,000 · Jun 2026June 2026 | 40,000 /yr | |
| 506 | Studio | 522 sqft | AED 460KAED 460,000 · May 2025May 2025 | 45,000 /yr | |
| 507 | Studio | 515 sqft | AED 365KAED 365,000 · Feb 2024February 2024 | 44,000 /yr | |
| 509 | Studio | 497 sqft | AED 365KAED 365,000 · Feb 2024February 2024 | 44,000 /yr | |
| 510 | Studio | 511 sqft | AED 405KAED 405,000 · Oct 2024October 2024 | 40,000 /yr | |
| 511 | Studio | 512 sqft | AED 325KAED 325,000 · Feb 2024February 2024 | 33,500 /yr | |
| 513 | Studio | 512 sqft | AED 400KAED 400,000 · Jun 2024June 2024 | 28,000 /yr | |
| 514 | Studio | 505 sqft | AED 475KAED 475,000 · Oct 2017October 2017 | 31,500 /yr |
515, Modelux Tower 1 in numbers
- Sold once: by Modelux Real Estate Development on 22 September 2022 for AED 437,500, or AED 527 per sqft.
- Rented since July 2020 on 2 Ejari contracts, from AED 36,000 to AED 34,000 a year.
- At AED 34,000 a year the gross yield on the 2022 price is 7.8%, before a service charge of about AED 11,000 a year (AED 13.28 per sqft).
Source: Dubai Land Department. Updated 22 September 2022.
Questions about 515, Modelux Tower 1
What did unit 515 last sell for?
AED 437,500 on 22 September 2022, sold by the developer: AED 527 per sqft for 830 sqft. It is the only registered sale of the unit.
What is the rent for unit 515?
AED 34,000 a year on the contract renewed on 16 July 2021. The previous contract, from July 2020, was AED 36,000.
How big is unit 515?
830 sqft (77.1 sqm): a two-bedroom apartment on the 5th floor of a 6-storey tower completed in 2017.
What is unit 515 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google.
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Mortgage on 515, Modelux Tower 1
Starts from the last sale price (AED 438K, 22 September 2022). Switch to today's estimate once you have unlocked it.- Price
- AED 437,500
- Deposit, UAE resident (20%)
- AED 87,500
- Deposit, non-resident (40%)
- AED 175,000
- Monthly over 25 years at 3.7%
- AED 1,790
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →