506, Park Gate Residences 1
Sold prices and rental history: sold once, by the developer in September 2024, and rented since 2024. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 506, Park Gate Residences 1
What is 506 worth today?
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Source: YallaValue analysis of Dubai Land Department records. Updated 24 January 2026.
Key facts
- Type
- 2-bed apartment
- Size
- 2,280 sqft
- Floor
- 5th of 27
- Parking
- B2-119
- Developer
- Wasl
- Completed
- 2020
- Last sold
- AED 3.67M · September 2024
- Building
- Park Gate Residences 1
About 506, Park Gate Residences 1
506 is a two-bedroom apartment of 2,280 sqft on the 5th floor of Park Gate Residences 1, a 27-storey tower in Al Kifaf completed in 2020 by Wasl. The developer sold it on 26 September 2024 for AED 3,674,777, or AED 1,611 per sqft, in line with the AED 1,611 two-beds in the building were fetching at the time.
It has been rented since 2024 on 2 Ejari contracts. The current contract, signed on 24 January 2026, is AED 60,000 a year: a gross yield of 1.6% on the 2024 price.
Sales and rents for 506 over time
506 has sold once; 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 Park Gate Residences 1, and where 506 sits
All 103 2-beds →506 last sold in September 2024 at AED 1,611 per sqft, in line with what two-beds in Park Gate Residences 1 were fetching at the time (AED 1,611). Over the last 12 months two-beds sold for AED 2,750,000 to 3,000,000, around AED 1,759 per sqft, and rent for AED 126,000 to 185,000 a year. 506's AED 60,000 is at the bottom of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 27 May 202527 May 2025 | 1,555 sqft | 2,150,775 | 1,383 | ||
| 30 Apr 202530 April 2025 | 1,557 sqft | 2,800,000 | 1,798 | ||
| 24 Apr 202524 April 2025 | 1,555 sqft | 2,885,000 | 1,855 | ||
| 27 Mar 202527 March 2025 | 1,633 sqft | 2,550,000 | 1,561 |
Park Gate Residences 1
Building204 apartments, 1-bed to 5-bed over 27 floors in Al Kifaf, completed in 2020 by Wasl. 3 sold in the last 12 months.
- Typical price per sqft
- AED 1,835
- Typical sale
- AED 2.75M
- Typical rent
- AED 155K /yr
- Typical yield
- 5.6%
Other units on the 5th floor
All 204 units in Park Gate Residences 1| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | 3-bed | 2,535 sqft | AED 3.49MAED 3,491,777 · Oct 2020October 2020 | ||
| 502 | 1-bed | 993 sqft | AED 1.75MAED 1,751,408 · Dec 2022December 2022 | 108,000 /yr | |
| 503 | 2-bed | 1,908 sqft | AED 3MAED 3,000,000 · Oct 2023October 2023 | 155,000 /yr | |
| 504 | 2-bed | 1,935 sqft | AED 1.98MAED 1,977,000 · May 2018May 2018 | ||
| 505 | 2-bed | 1,899 sqft | AED 2.01MAED 2,009,000 · Mar 2018March 2018 | ||
| 507 | 1-bed | 992 sqft | AED 1.36MAED 1,361,000 · Apr 2018April 2018 | 73,600 /yr | |
| 508 | 3-bed | 2,590 sqft | AED 3.25MAED 3,251,777 · Aug 2021August 2021 |
506, Park Gate Residences 1 in numbers
- Sold once: by Wasl on 26 September 2024 for AED 3,674,777, or AED 1,611 per sqft.
- Rented since October 2024 on 2 Ejari contracts, from AED 163,000 to AED 60,000 a year.
- At AED 60,000 a year the gross yield on the 2024 price is 1.6%.
- Two-beds in Park Gate Residences 1 sold for AED 2,750,000–3,000,000 in the 12 months to November 2026; the building's median across all types is AED 1,835 per sqft.
Source: YallaValue analysis of Dubai Land Department records. Updated 24 January 2026.
Questions about 506, Park Gate Residences 1
What did unit 506 last sell for?
AED 3,674,777 on 26 September 2024, sold by the developer: AED 1,611 per sqft for 2,280 sqft. It is the only registered sale of the unit.
What is the rent for unit 506?
AED 60,000 a year on the contract signed on 24 January 2026. The previous contract, from October 2024, was AED 163,000.
How big is unit 506?
2,280 sqft (211.8 sqm): a two-bedroom apartment on the 5th floor of a 27-storey tower completed in 2020.
What is unit 506 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Park Gate Residences 1 sold for AED 2,750,000 to 3,000,000 in the last 12 months, around AED 1,759 per sqft.
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Mortgage on 506, Park Gate Residences 1
Starts from the last sale price (AED 3.67M, 26 September 2024). Switch to today's estimate once you have unlocked it.- Price
- AED 3,674,777
- Deposit, UAE resident (20%)
- AED 734,955
- Deposit, non-resident (40%)
- AED 1,469,911
- Monthly over 25 years at 3.7%
- AED 15,035
Plus AED 159,351 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →