502, Balqis Residence 2
Sold prices and rental history: sold twice, last in May 2016, and rented continuously 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 2
What is 502 worth today?
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Source: Dubai Land Department. Updated 15 September 2024.
Key facts
- Type
- 2-bed apartment
- Size
- 1,978 sqft
- Floor
- 5th of 11
- Parking
- B-289
- Developer
- Balqis Residence
- Completed
- 2019
- Service charge
- AED 35,200 /yr
- Last sold
- AED 3M · May 2016
- Building
- Balqis Residence 2
About 502, Balqis Residence 2
502 is a two-bedroom apartment of 1,978 sqft on the 5th floor of Balqis Residence 2, a 11-storey tower in Palm Jumeirah completed in 2019 by Balqis Residence. It last sold on 19 May 2016 for AED 3,000,000, or AED 1,516 per sqft.
It has been rented continuously since 2020 on 4 Ejari contracts. The current contract, signed on 15 September 2024, is AED 205,000 a year: a gross yield of 6.8% on the 2016 price, before the service charge of about AED 35,200 a year.
Sales and rents for 502 over time
502 has sold twice; the dashed line is the two-bed median of each year in the building.
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 2, and where 502 sits
All 83 2-beds →Over the last 12 months two-beds sold for AED 4,550,000 to 6,450,000, around AED 2,264 per sqft, and rent for AED 154,211 to 340,000 a year. 502's AED 205,000 is in the lower half of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 26 Oct 202626 October 2026 | 1,957 sqft | 6,450,000 | 3,296 | ||
| 10 Sep 202610 September 2026 | 3,728 sqft | 6,222,800 | 1,669 | ||
| 24 Feb 202624 February 2026 | 3,728 sqft | 6,430,265 | 1,725 | ||
| 16 Feb 202616 February 2026 | 2,267 sqft | 4,900,000 | 2,161 |
Balqis Residence 2
Building147 apartments, 2-bed to 5-bed over 11 floors in Palm Jumeirah, completed in 2019 by Balqis Residence. 7 sold in the last 12 months.
- Typical price per sqft
- AED 2,161
- Typical sale
- AED 5M
- Typical rent
- AED 231K /yr
- Typical yield
- 4.9%
Other units on the 5th floor
All 147 units in Balqis Residence 2| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | 3-bed | 2,565 sqft | AED 4.39MAED 4,390,000 · Aug 2009August 2009 | ||
| 503 | 2-bed | 2,000 sqft | AED 3.5MAED 3,500,000 · Aug 2009August 2009 | 200,000 /yr | |
| 504 | 3-bed | 2,366 sqft | AED 3.85MAED 3,850,000 · May 2023May 2023 | 350,000 /yr | |
| 505 | 3-bed | 2,365 sqft | AED 4.59MAED 4,590,000 · Aug 2009August 2009 | ||
| 506 | 2-bed | 1,956 sqft | AED 3.56MAED 3,560,000 · Aug 2009August 2009 | 216,000 /yr | |
| 507 | 2-bed | 1,965 sqft | AED 3.36MAED 3,360,000 · Aug 2009August 2009 | ||
| 508 | 2-bed | 2,228 sqft | AED 3.36MAED 3,360,000 · Aug 2009August 2009 | 235,000 /yr | |
| 509 | 2-bed | 2,328 sqft | AED 3.36MAED 3,360,000 · Aug 2009August 2009 | ||
| 510 | 2-bed | 1,966 sqft | AED 3.36MAED 3,360,000 · Aug 2009August 2009 | ||
| 511 | 2-bed | 1,924 sqft | AED 3.56MAED 3,560,000 · Aug 2009August 2009 | 215,000 /yr | |
| 512 | 3-bed | 2,395 sqft | AED 4.49MAED 4,490,000 · Aug 2009August 2009 | ||
| 513 | 3-bed | 2,929 sqft | AED 5.5MAED 5,500,000 · Sep 2015September 2015 | 200,040 /yr | |
| 514 | 2-bed | 1,949 sqft | AED 3.55MAED 3,550,000 · Aug 2009August 2009 | ||
| 515 | 2-bed | 1,926 sqft | AED 3.56MAED 3,560,000 · Aug 2009August 2009 | 149,265 /yr | |
| 516 | 3-bed | 2,563 sqft | AED 4.39MAED 4,390,000 · Aug 2009August 2009 |
502, Balqis Residence 2 in numbers
- Sold twice: first on 17 August 2009 for AED 3,560,000, last on 19 May 2016 for AED 3,000,000 (AED 1,516 per sqft).
- Rented since April 2020 on 4 Ejari contracts, from AED 105,000 to AED 205,000 a year.
- At AED 205,000 a year the gross yield on the 2016 price is 6.8%, before a service charge of about AED 35,200 a year (AED 17.81 per sqft).
- Two-beds in Balqis Residence 2 sold for AED 4,550,000–6,450,000 in the 12 months to November 2026; the building's median across all types is AED 2,161 per sqft.
Source: Dubai Land Department. Updated 15 September 2024.
Questions about 502, Balqis Residence 2
What did unit 502 last sell for?
AED 3,000,000 on 19 May 2016: AED 1,516 per sqft for 1,978 sqft. The unit has 2 registered sales; the first was AED 3,560,000 in August 2009.
What is the rent for unit 502?
AED 205,000 a year on the contract signed on 15 September 2024. The previous contract, from June 2023, was AED 200,000; the unit has been rented since April 2020.
How big is unit 502?
1,978 sqft (183.8 sqm): a two-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. Two-beds in Balqis Residence 2 sold for AED 4,550,000 to 6,450,000 in the last 12 months, around AED 2,264 per sqft.
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Mortgage on 502, Balqis Residence 2
Starts from the last sale price (AED 3M, 19 May 2016). Switch to today's estimate once you have unlocked it.- Price
- AED 3,000,000
- Deposit, UAE resident (20%)
- AED 600,000
- Deposit, non-resident (40%)
- AED 1,200,000
- Monthly over 25 years at 3.7%
- AED 12,274
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →