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Studio · 514 sqftReef Residence, Jumeirah Village Circle (JVC) · 5th floor · completed 2017

507, Reef Residence

Sold prices and rental history: sold once, by the developer in May 2015, and rented since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 507 · DLD and Ejari recordsUpdated 25 August 2022
Last soldAED 420K4 May 2015
Current rentAED 31K /yr25 August 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 507, Reef Residence

What is 507 worth today?

Last sold for AED 419,938 in 2015

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25 Aug 2022RentedNew contract
AED 31,000/yr12 months · AED 60 per sqft
15 Apr 2019RentedNew contract
AED 40,000/yr12 months · AED 77 per sqft
4 May 2015Sold by developerOff-plan
AED 419,938AED 816 per sqft

Source: Dubai Land Department. Updated 25 August 2022.

Key facts

Type
Studio apartment
Size
514 sqft
Floor
5th of 36
Parking
B2-14
Developer
Sama Alkhaleej Real Estate Development Co
Completed
2017
Service charge
AED 7,300 /yr
Last sold
AED 420K · May 2015
Building
Reef Residence

About 507, Reef Residence

507 is a studio of 514 sqft on the 5th floor of Reef Residence, a 36-storey tower in Jumeirah Village Circle (JVC) completed in 2017 by Sama Alkhaleej Real Estate Development Co. The developer sold it on 4 May 2015 for AED 419,938, or AED 816 per sqft.

It has been rented since 2019 on 2 Ejari contracts. The current contract, signed on 25 August 2022, is AED 31,000 a year: a gross yield of 7.4% on the 2015 price, before the service charge of about AED 7,300 a year.

Sales and rents for 507 over time

Sales
Unit 507, each saleTypical studio in Reef Residence
400K20152018202120242027Typical sale price by year: 2015 AED 472,880; 2016 AED 521,995; 2017 AED 540,540; 2018 AED 483,160; 2019 AED 350,000; 2020 AED 340,000; 2021 AED 321,250; 2022 AED 375,000; 2023 AED 401,000; 2024 AED 530,000; 2025 AED 548,750; 2026 AED 540,000Sold by developer, May 2015: AED 419,938 (AED 816 per sqft)

507 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 507, each contractTypical studio in Reef Residence
30K40K50K2018202120242027Typical rent by year: 2018 AED 40,000; 2019 AED 38,000; 2020 AED 30,000; 2021 AED 25,000; 2022 AED 30,000; 2023 AED 36,000; 2024 AED 44,000; 2025 AED 46,452; 2026 AED 45,000New contract, April 2019: AED 40,000 a yearNew contract, August 2022: AED 31,000 a year

Annual rent on each registered contract; the dashed line is the studio median of each year in the building.

Studios in Reef Residence, and where 507 sits

All 186 studios →

Over the last 12 months studios sold for AED 515,000 to 595,000, around AED 1,040 per sqft, and rent for AED 30,000 to 75,600 a year. 507's AED 31,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
7 Sep 2026515,000
9 Jul 2026540,000
23 Jun 2026525,000
14 May 2026540,000
7 studio sales in the last 12 months

Reef Residence

Building

378 apartments, studios to 2-bed over 36 floors in Jumeirah Village Circle (JVC), completed in 2017 by Sama Alkhaleej Real Estate Development Co. 22 sold in the last 12 months.

Typical price per sqft
AED 1,023 Down 1.7%
Typical sale
AED 870K
Typical rent
AED 53K /yr
Typical yield
8.3%
Reef Residence, Jumeirah Village Circle (JVC): prices, sales and rents →

Other units on the 5th floor

All 378 units in Reef Residence
Value
501StudioAED 403K · Dec 2016
502StudioAED 409K · Dec 2016
5031-bedAED 835K · Mar 2025
5042-bedAED 1.45M · Jun 2026
5051-bedAED 695K · May 2016
506StudioAED 410K · May 2015
508StudioAED 560K · Jul 2024
1–7 of 11

507, Reef Residence in numbers

  • Sold once: by Sama Alkhaleej Real Estate Development Co on 4 May 2015 for AED 419,938, or AED 816 per sqft.
  • Rented since April 2019 on 2 Ejari contracts, from AED 40,000 to AED 31,000 a year.
  • At AED 31,000 a year the gross yield on the 2015 price is 7.4%, before a service charge of about AED 7,300 a year (AED 14.20 per sqft).
  • Studios in Reef Residence sold for AED 515,000–595,000 in the 12 months to November 2026; the building's median across all types is AED 1,023 per sqft.

Source: Dubai Land Department. Updated 25 August 2022.

Questions about 507, Reef Residence

What did unit 507 last sell for?

AED 419,938 on 4 May 2015, sold by the developer: AED 816 per sqft for 514 sqft. It is the only registered sale of the unit.

What is the rent for unit 507?

AED 31,000 a year on the contract signed on 25 August 2022. The previous contract, from April 2019, was AED 40,000.

How big is unit 507?

514 sqft (47.8 sqm): a studio on the 5th floor of a 36-storey tower completed in 2017.

What is unit 507 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Reef Residence sold for AED 515,000 to 595,000 in the last 12 months, around AED 1,040 per sqft.

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Mortgage on 507, Reef Residence

Starts from the last sale price (AED 420K, 4 May 2015). Switch to today's estimate once you have unlocked it.
Price
AED 419,938
Deposit, UAE resident (20%)
AED 83,988
Deposit, non-resident (40%)
AED 167,975
Monthly over 25 years at 3.7%
AED 1,718

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