502, Balqis Residence 1
Sold prices and rental history: sold twice, last in June 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 502, Balqis Residence 1
What is 502 worth today?
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Source: Dubai Land Department. Updated 13 June 2022.
Key facts
- Type
- 3-bed apartment
- Size
- 7,523 sqft
- Floor
- 5th of 11
- Parking
- B-241, B-240
- Developer
- Balqis Residence
- Completed
- 2019
- Service charge
- AED 134,000 /yr
- Last sold
- AED 10.5M · June 2022
- Building
- Balqis Residence 1
About 502, Balqis Residence 1
502 is a three-bedroom apartment of 7,523 sqft on the 5th floor of Balqis Residence 1, a 11-storey tower in Palm Jumeirah completed in 2019 by Balqis Residence. It last sold on 13 June 2022 for AED 10,500,000, or AED 1,395 per sqft, 7% above the AED 1,309 three-beds in the building were fetching at the time.
It has been rented since 2020 on 2 Ejari contracts. The current contract, signed on 2 March 2022, is AED 200,000 a year: a gross yield of 1.9% on the 2022 price, before the service charge of about AED 134,000 a year.
Sales and rents for 502 over time
502 has sold twice; the dashed line is the three-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the three-bed median of each year in the building.
3-beds in Balqis Residence 1, and where 502 sits
All 18 3-beds →502 last sold in June 2022 at AED 1,395 per sqft, 7% above what three-beds in Balqis Residence 1 were fetching at the time (AED 1,309). Over the last 12 months three-beds sold for AED 5,850,000 to 16,825,000, around AED 2,992 per sqft, and rent for AED 310,000 to 650,000 a year. 502's AED 200,000 is at the bottom of that range.
| Recent 3-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 14 May 202614 May 2026 | 4,918 sqft | 16,825,000 | 3,421 | ||
| 18 Feb 202618 February 2026 | 2,283 sqft | 5,850,000 | 2,562 | ||
| 4 Jun 20254 June 2025 | 5,225 sqft | 16,850,000 | 3,224 | ||
| 13 Apr 202513 April 2025 | 4,283 sqft | 4,000,000 | 934 |
Balqis Residence 1
Building54 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%
Other units on the 5th floor
All 54 units in Balqis Residence 1| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | 3-bed | 6,270 sqft | AED 8.1MAED 8,100,000 · Apr 2023April 2023 | 650,000 /yr | |
| 503 | 2-bed | 2,098 sqft | AED 3.25MAED 3,250,000 · Sep 2022September 2022 | ||
| 504 | 3-bed | 2,283 sqft | AED 2.1MAED 2,100,000 · May 2021May 2021 | 325,000 /yr | |
| 505 | 4-bed | 3,355 sqft | AED 2.95MAED 2,950,000 · May 2021May 2021 | 379,500 /yr | |
| 506 | 2-bed | 1,936 sqft | AED 1.85MAED 1,850,000 · Oct 2019October 2019 |
502, Balqis Residence 1 in numbers
- Sold twice: first on 16 August 2009 for AED 9,800,000, last on 13 June 2022 for AED 10,500,000 (AED 1,395 per sqft).
- Rented since June 2020 on 2 Ejari contracts, from AED 265,000 to AED 200,000 a year.
- At AED 200,000 a year the gross yield on the 2022 price is 1.9%, before a service charge of about AED 134,000 a year (AED 17.81 per sqft).
- Three-beds in Balqis Residence 1 sold for AED 5,850,000–16,825,000 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 13 June 2022.
Questions about 502, Balqis Residence 1
What did unit 502 last sell for?
AED 10,500,000 on 13 June 2022: AED 1,395 per sqft for 7,523 sqft. The unit has 2 registered sales; the first was AED 9,800,000 in August 2009.
What is the rent for unit 502?
AED 200,000 a year on the contract signed on 2 March 2022. The previous contract, from June 2020, was AED 265,000.
How big is unit 502?
7,523 sqft (698.9 sqm): a three-bedroom apartment on the 5th floor of a 11-storey tower completed in 2019.
What is unit 502 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in Balqis Residence 1 sold for AED 5,850,000 to 16,825,000 in the last 12 months, around AED 2,992 per sqft.
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Mortgage on 502, Balqis Residence 1
Starts from the last sale price (AED 10.5M, 13 June 2022). Switch to today's estimate once you have unlocked it.- Price
- AED 10,500,000
- Deposit, UAE resident (20%)
- AED 2,100,000
- Deposit, non-resident (40%)
- AED 4,200,000
- Monthly over 25 years at 3.7%
- AED 42,959
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →