Home
Dubai prices
About
Research
2-bed · 1,392 sqftOia Residence, Uptown Motorcity · 2nd floor · completed 2018

246, Oia Residence

Sold prices and rental history: sold once, by the developer in October 2022, and rented continuously since 2023. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 246 · DLD and Ejari recordsUpdated 5 November 2024
Last soldAED 1.1M27 October 2022
Current rentAED 120K /yr5 November 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
Follow 246

Property timeline for 246, Oia Residence

What is 246 worth today?

Last sold for AED 1,100,000 in 2022

Unlock today's estimate, updated daily, with

Verify once to see valuations for every property. Everything else on this page is open.

5 Nov 2024RentedNew contract
AED 120,000/yr12 months · AED 86 per sqft
6 Aug 2024RentedNew contract
AED 120,000/yr12 months · AED 86 per sqft
18 Feb 2024RentedNew contract
AED 119,358/yr6 months · AED 86 per sqft
18 Feb 2023RentedNew contract
AED 120,000/yr12 months · AED 86 per sqft
27 Oct 2022Sold by developerReady
AED 1,100,000AED 790 per sqft

Source: Dubai Land Department. Updated 5 November 2024.

Key facts

Type
2-bed apartment
Size
1,392 sqft
Floor
2nd of 5
Parking
B-63
Developer
Union Properties
Completed
2018
Service charge
AED 20,600 /yr
Last sold
AED 1.1M · October 2022
Building
Oia Residence

About 246, Oia Residence

246 is a two-bedroom apartment of 1,392 sqft on the 2nd floor of Oia Residence, a 5-storey tower in Uptown Motorcity completed in 2018 by Union Properties. The developer sold it on 27 October 2022 for AED 1,100,000, or AED 790 per sqft, in line with the AED 781 two-beds in the building were fetching at the time.

It has been rented continuously since 2023 on 4 Ejari contracts. The current contract, signed on 5 November 2024, is AED 120,000 a year: a gross yield of 10.9% on the 2022 price, before the service charge of about AED 20,600 a year.

Sales and rents for 246 over time

Sales
Unit 246, each saleTypical two-bed in Oia Residence
1M1.5M2M2017202020232026Typical sale price by year: 2017 AED 1,685,316; 2020 AED 1,294,850; 2021 AED 1,464,514; 2022 AED 1,275,000; 2023 AED 1,299,000; 2024 AED 1,810,000; 2025 AED 1,850,000; 2026 AED 1,900,000Sold by developer, October 2022: AED 1,100,000 (AED 790 per sqft)

246 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 246, each contractTypical two-bed in Oia Residence
100K120K2018202120242027Typical rent by year: 2018 AED 117,000; 2019 AED 115,000; 2020 AED 106,650; 2021 AED 92,308; 2022 AED 95,000; 2023 AED 105,000; 2024 AED 117,179; 2025 AED 130,000; 2026 AED 132,500New contract, February 2023: AED 120,000 a yearNew contract, February 2024: AED 119,358 a yearNew contract, August 2024: AED 120,000 a yearNew contract, November 2024: AED 120,000 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 Oia Residence, and where 246 sits

All 134 2-beds →

246 last sold in October 2022 at AED 790 per sqft, in line with what two-beds in Oia Residence were fetching at the time (AED 781). Over the last 12 months two-beds sold for AED 1,284,669 to 2,350,000, around AED 1,058 per sqft, and rent for AED 70,000 to 185,000 a year. 246's AED 120,000 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
15 Oct 20262,196,700
19 Sep 20262,050,000
8 Sep 20261,950,000
24 Aug 20262,000,000
25 2-bed sales in the last 12 months

Oia Residence

Building

269 apartments, 1-bed to 4-bed over 5 floors in Uptown Motorcity, completed in 2018 by Union Properties. 65 sold in the last 12 months.

Typical price per sqft
AED 1,050 Down 4.5%
Typical sale
AED 2.11M
Typical rent
AED 130K /yr
Typical yield
8.5%
Oia Residence, Uptown Motorcity: prices, sales and rents →

Other units on the 2nd floor

All 269 units in Oia Residence
Value
2012-bedAED 1.68M · Oct 2022
2022-bedAED 1.49M · Feb 2026
2032-bedAED 1.88M · Apr 2025
2042-bedAED 1.3M · Sep 2024
2052-bedAED 1.56M · Aug 2021
2062-bedAED 1.12M · Oct 2022
2072-bedAED 1.2M · Feb 2023
1–7 of 53

246, Oia Residence in numbers

  • Sold once: by Union Properties on 27 October 2022 for AED 1,100,000, or AED 790 per sqft.
  • Rented since February 2023 on 4 Ejari contracts, at AED 120,000 a year.
  • At AED 120,000 a year the gross yield on the 2022 price is 10.9%, before a service charge of about AED 20,600 a year (AED 14.76 per sqft).
  • Two-beds in Oia Residence sold for AED 1,284,669–2,350,000 in the 12 months to November 2026; the building's median across all types is AED 1,050 per sqft.

Source: Dubai Land Department. Updated 5 November 2024.

Questions about 246, Oia Residence

What did unit 246 last sell for?

AED 1,100,000 on 27 October 2022, sold by the developer: AED 790 per sqft for 1,392 sqft. It is the only registered sale of the unit.

What is the rent for unit 246?

AED 120,000 a year on the contract signed on 5 November 2024. The previous contract, from August 2024, was AED 120,000; the unit has been rented since February 2023.

How big is unit 246?

1,392 sqft (129.3 sqm): a two-bedroom apartment on the 2nd floor of a 5-storey tower completed in 2018.

What is unit 246 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Oia Residence sold for AED 1,284,669 to 2,350,000 in the last 12 months, around AED 1,058 per sqft.

Selling 246? Put it on the OpenOffers board

Public offers from verified, deposit-backed buyers; a reserve you set; no fee unless it sells, then 1%. Sale agreed in weeks, not months.

How OpenOffers works

Mortgage on 246, Oia Residence

Starts from the last sale price (AED 1.1M, 27 October 2022). Switch to today's estimate once you have unlocked it.
Price
AED 1,100,000
Deposit, UAE resident (20%)
AED 220,000
Deposit, non-resident (40%)
AED 440,000
Monthly over 25 years at 3.7%
AED 4,500

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