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2-bed · 1,936 sqftBalqis Residence 1, Palm Jumeirah · 10th floor · completed 2019

1004, Balqis Residence 1

Sold prices and rental history: sold 3 times, last in May 2024, and rented continuously since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1004 · DLD and Ejari recordsUpdated 1 May 2024
Last soldAED 3.55M1 May 2024
Current rentAED 250K /yr5 March 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1004, Balqis Residence 1

What is 1004 worth today?

Last sold for AED 3,550,000 in 2024

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1 May 2024SoldReady
AED 3,550,000AED 1,833 per sqft
5 Mar 2024RentedNew contract
AED 250,000/yr12 months · AED 129 per sqft
3 Jan 2023RentedRenewal
AED 220,000/yr12 months · AED 114 per sqft
3 Jan 2022RentedNew contract
AED 200,000/yr12 months · AED 103 per sqft
10 Nov 2021SoldReady
AED 2,500,000AED 1,291 per sqft
13 Dec 2020RentedNew contract
AED 120,000/yr12 months · AED 62 per sqft
20 Feb 2013Sold by developerOff-plan
AED 3,235,801AED 1,671 per sqft

Source: Dubai Land Department. Updated 1 May 2024.

Key facts

Type
2-bed apartment
Size
1,936 sqft
Floor
10th of 11
Parking
B-93
Developer
Balqis Residence
Completed
2019
Service charge
AED 34,500 /yr
Last sold
AED 3.55M · May 2024
Building
Balqis Residence 1

About 1004, Balqis Residence 1

1004 is a two-bedroom apartment of 1,936 sqft on the 10th floor of Balqis Residence 1, a 11-storey tower in Palm Jumeirah completed in 2019 by Balqis Residence. It last sold on 1 May 2024 for AED 3,550,000, or AED 1,833 per sqft.

It has been rented continuously since 2020 on 4 Ejari contracts. The current contract, signed on 5 March 2024, is AED 250,000 a year: a gross yield of 7.0% on the 2024 price, before the service charge of about AED 34,500 a year.

Sales and rents for 1004 over time

Sales
Unit 1004, each saleTypical two-bed in Balqis Residence 1
2M3M4M2009201420192024Typical sale price by year: 2009 AED 3,500,000; 2012 AED 2,950,000; 2013 AED 3,235,801; 2019 AED 1,845,000; 2021 AED 2,300,000; 2022 AED 3,100,000; 2024 AED 3,550,000; 2025 AED 3,850,000Sold by developer, February 2013: AED 3,235,801 (AED 1,671 per sqft)Sold, November 2021: AED 2,500,000 (AED 1,291 per sqft)Sold, May 2024: AED 3,550,000 (AED 1,833 per sqft)

1004 has sold 3 times; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1004, each contractTypical two-bed in Balqis Residence 1
100K200K20192021202320252027Typical rent by year: 2019 AED 117,500; 2020 AED 119,922; 2021 AED 112,000; 2022 AED 143,125; 2023 AED 210,000; 2024 AED 211,195; 2025 AED 230,000; 2026 AED 200,000New contract, December 2020: AED 120,000 a yearNew contract, January 2022: AED 200,000 a yearRenewal, January 2023: AED 220,000 a yearNew contract, March 2024: AED 250,000 a year

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

2-beds in Balqis Residence 1, and where 1004 sits

All 22 2-beds →

Over the last 12 months two-beds sold for AED 6,500,000, around AED 3,098 per sqft, and rent for AED 125,000 to 271,500 a year. 1004's AED 250,000 is in the upper half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
25 Nov 20256,500,000
22 Apr 20253,750,000
18 Feb 20253,850,000
20 Nov 20244,000,000
1 2-bed sale in the last 12 months

Balqis Residence 1

Building

54 apartments, 2-bed to 6-bed over 11 floors in Palm Jumeirah, completed in 2019 by Balqis Residence. 5 sold in the last 12 months.

Typical price per sqft
AED 2,722
Typical sale
AED 9.15M
Typical rent
AED 310K /yr
Typical yield
4.0%
Balqis Residence 1, Palm Jumeirah: prices, sales and rents →

Other units on the 10th floor

All 54 units in Balqis Residence 1
Value
10012-bedAED 2.3M · Sep 2021
10023-bedAED 4.55M · May 2013
10034-bedAED 3.5M · Mar 2021

1004, Balqis Residence 1 in numbers

  • Sold 3 times: first on 20 February 2013 for AED 3,235,801, last on 1 May 2024 for AED 3,550,000 (AED 1,833 per sqft).
  • Rented since December 2020 on 4 Ejari contracts, from AED 120,000 to AED 250,000 a year.
  • At AED 250,000 a year the gross yield on the 2024 price is 7.0%, before a service charge of about AED 34,500 a year (AED 17.81 per sqft).
  • Two-beds in Balqis Residence 1 sold for AED 6,500,000–6,500,000 in the 12 months to November 2026; the building's median across all types is AED 2,722 per sqft.

Source: Dubai Land Department. Updated 1 May 2024.

Questions about 1004, Balqis Residence 1

What did unit 1004 last sell for?

AED 3,550,000 on 1 May 2024: AED 1,833 per sqft for 1,936 sqft. The unit has 3 registered sales; the first was AED 3,235,801 in February 2013.

What is the rent for unit 1004?

AED 250,000 a year on the contract signed on 5 March 2024. The previous contract, from January 2023, was AED 220,000; the unit has been rented since December 2020.

How big is unit 1004?

1,936 sqft (179.9 sqm): a two-bedroom apartment on the 10th floor of a 11-storey tower completed in 2019.

What is unit 1004 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Balqis Residence 1 sold for AED 6,500,000 to 6,500,000 in the last 12 months, around AED 3,098 per sqft.

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Mortgage on 1004, Balqis Residence 1

Starts from the last sale price (AED 3.55M, 1 May 2024). Switch to today's estimate once you have unlocked it.
Price
AED 3,550,000
Deposit, UAE resident (20%)
AED 710,000
Deposit, non-resident (40%)
AED 1,420,000
Monthly over 25 years at 3.7%
AED 14,524

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