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2-bed · 991 sqftMerano Tower, Business Bay · 5th floor · completed 2020

515, Merano Tower

Sold prices and rental history: sold twice, last in October 2023, and rented since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 515 · DLD and Ejari recordsUpdated 3 August 2024
Last soldAED 1.45M5 October 2023
Current rentAED 110K /yr3 August 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 515, Merano Tower

What is 515 worth today?

Last sold for AED 1,450,000 in 2023

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3 Aug 2024RentedNew contract
AED 110,000/yr12 months · AED 111 per sqft
5 Oct 2023SoldReady
AED 1,450,000AED 1,463 per sqft
15 Nov 2021RentedNew contract
AED 65,000/yr12 months · AED 66 per sqft
1 Nov 2020RentedNew contract
AED 65,000/yr12 months · AED 66 per sqft
14 Sep 2020Sold by developerReady
AED 1,167,240AED 1,177 per sqft

Source: Dubai Land Department. Updated 3 August 2024.

Key facts

Type
2-bed apartment
Size
991 sqft
Floor
5th of 29
Parking
P1-057
Developer
DAMAC
Completed
2020
Service charge
AED 18,800 /yr
Last sold
AED 1.45M · October 2023
Building
Merano Tower

About 515, Merano Tower

515 is a two-bedroom apartment of 991 sqft on the 5th floor of Merano Tower, a 29-storey tower in Business Bay completed in 2020 by DAMAC. It last sold on 5 October 2023 for AED 1,450,000, or AED 1,463 per sqft, in line with the AED 1,489 two-beds in the building were fetching at the time.

It has been rented since 2020 on 3 Ejari contracts. The current contract, signed on 3 August 2024, is AED 110,000 a year: a gross yield of 7.6% on the 2023 price, before the service charge of about AED 18,800 a year.

Sales and rents for 515 over time

Sales
Unit 515, each saleTypical two-bed in Merano Tower
1.2M1.4M1.6M2016201920222025Typical sale price by year: 2016 AED 1,508,800; 2017 AED 1,509,000; 2018 AED 1,416,000; 2019 AED 1,525,000; 2020 AED 1,169,783; 2021 AED 1,194,550; 2022 AED 1,292,540; 2023 AED 1,550,000; 2024 AED 1,477,500; 2025 AED 1,450,000Sold by developer, September 2020: AED 1,167,240 (AED 1,177 per sqft)Sold, October 2023: AED 1,450,000 (AED 1,463 per sqft)

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

Rents
Unit 515, each contractTypical two-bed in Merano Tower
75K100K2020202220242026Typical rent by year: 2020 AED 65,000; 2021 AED 70,000; 2022 AED 80,500; 2023 AED 97,000; 2024 AED 110,000; 2025 AED 110,000; 2026 AED 110,000New contract, November 2020: AED 65,000 a yearNew contract, November 2021: AED 65,000 a yearNew contract, August 2024: AED 110,000 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 Merano Tower, and where 515 sits

All 79 2-beds →

515 last sold in October 2023 at AED 1,463 per sqft, in line with what two-beds in Merano Tower were fetching at the time (AED 1,489). Over the last 12 months two-beds sold for AED 1,200,000 to 1,500,000, around AED 1,559 per sqft, and rent for AED 99,225 to 135,000 a year. 515's AED 110,000 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
10 Feb 20261,400,000
6 Jan 20261,200,000
29 Dec 20251,400,000
17 Dec 20251,500,000
6 2-bed sales in the last 12 months

Merano Tower

Building

574 apartments, studios to 3-bed over 29 floors in Business Bay, completed in 2020 by DAMAC. 16 sold in the last 12 months.

Typical price per sqft
AED 1,571 Down 2.3%
Typical sale
AED 1.19M
Typical rent
AED 80K /yr
Typical yield
7.9%
Merano Tower, Business Bay: prices, sales and rents →

Other units on the 5th floor

All 574 units in Merano Tower
Value
5011-bedAED 965K · Nov 2016
5021-bedAED 738K · Sep 2020
5031-bedAED 1.08M · May 2020
504StudioAED 632K · Jun 2020
5051-bedAED 1.06M · Oct 2017
506StudioAED 660K · May 2023
5071-bedAED 1.02M · Jun 2016
1–7 of 19

515, Merano Tower in numbers

  • Sold twice: first on 14 September 2020 for AED 1,167,240, last on 5 October 2023 for AED 1,450,000 (AED 1,463 per sqft).
  • Rented since November 2020 on 3 Ejari contracts, from AED 65,000 to AED 110,000 a year.
  • At AED 110,000 a year the gross yield on the 2023 price is 7.6%, before a service charge of about AED 18,800 a year (AED 19.02 per sqft).
  • Two-beds in Merano Tower sold for AED 1,200,000–1,500,000 in the 12 months to November 2026; the building's median across all types is AED 1,571 per sqft.

Source: Dubai Land Department. Updated 3 August 2024.

Questions about 515, Merano Tower

What did unit 515 last sell for?

AED 1,450,000 on 5 October 2023: AED 1,463 per sqft for 991 sqft. The unit has 2 registered sales; the first was AED 1,167,240 in September 2020.

What is the rent for unit 515?

AED 110,000 a year on the contract signed on 3 August 2024. The previous contract, from November 2021, was AED 65,000; the unit has been rented since November 2020.

How big is unit 515?

991 sqft (92.1 sqm): a two-bedroom apartment on the 5th floor of a 29-storey tower completed in 2020.

What is unit 515 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Merano Tower sold for AED 1,200,000 to 1,500,000 in the last 12 months, around AED 1,559 per sqft.

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Mortgage on 515, Merano Tower

Starts from the last sale price (AED 1.45M, 5 October 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,450,000
Deposit, UAE resident (20%)
AED 290,000
Deposit, non-resident (40%)
AED 580,000
Monthly over 25 years at 3.7%
AED 5,932

Plus AED 65,910 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →