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4-bed · 4,922 sqftResidence 22 (Formerly Fareed Tower), Business Bay · 22nd floor · completed 2016

2201, Residence 22 (Formerly Fareed Tower)

Sold prices and rental history: sold twice, last in October 2024, and rented continuously since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2201 · DLD and Ejari recordsUpdated 1 October 2024
Last soldAED 14.85M1 October 2024
Current rentAED 550K /yr15 October 2021
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 2201, Residence 22 (Formerly Fareed Tower)

What is 2201 worth today?

Last sold for AED 14,848,000 in 2024

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1 Oct 2024SoldReady
AED 14,848,000AED 3,016 per sqft
26 May 2022Sold by developerReady
AED 9,053,794AED 1,839 per sqft
15 Oct 2021RentedRenewal
AED 550,000/yr12 months · AED 112 per sqft
15 Apr 2021RentedNew contract
AED 500,000/yr6 months · AED 102 per sqft
15 Oct 2020RentedNew contract
AED 500,000/yr6 months · AED 102 per sqft
23 Jul 2019RentedRenewal
AED 430,000/yr12 months · AED 90 per sqft
23 Jul 2018RentedNew contract
AED 450,000/yr12 months · AED 94 per sqft
1 Mar 2018RentedNew contract
AED 550,000/yr12 months · AED 115 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 1 October 2024.

Key facts

Type
4-bed apartment
Size
4,922 sqft
Floor
22nd of 22
Parking
B1-04, B1-05, B1-06
Completed
2016
Last sold
AED 14.85M · October 2024
Building
Residence 22 (Formerly Fareed Tower)

About 2201, Residence 22 (Formerly Fareed Tower)

2201 is a four-bedroom apartment of 4,922 sqft on the 22nd floor of Residence 22 (Formerly Fareed Tower), a 22-storey tower in Business Bay completed in 2016. It last sold on 1 October 2024 for AED 14,848,000, or AED 3,016 per sqft, in line with the AED 3,018 four-beds in the building were fetching at the time.

It has been rented continuously since 2017 on 7 Ejari contracts. The current contract, renewed on 15 October 2021, is AED 550,000 a year: a gross yield of 3.7% on the 2024 price.

Sales and rents for 2201 over time

Sales
Unit 2201, each saleTypical four-bed in Residence 22 (Formerly Fareed Tower)
10M15M20222023202420252026Typical sale price by year: 2022 AED 8,794,545; 2024 AED 14,432,000; 2025 AED 16,027,177Sold by developer, May 2022: AED 9,053,794 (AED 1,839 per sqft)Sold, October 2024: AED 14,848,000 (AED 3,016 per sqft)

2201 has sold twice; the dashed line is the four-bed median of each year in the building.

Rents
Unit 2201, each contractTypical four-bed in Residence 22 (Formerly Fareed Tower)
400K500K600K2017201920212023Typical rent by year: 2017 AED 465,000; 2018 AED 500,000; 2019 AED 475,000; 2020 AED 430,000; 2021 AED 470,000; 2022 AED 508,750; 2023 AED 650,000New contract, December 2017: AED 461,538 a yearNew contract, March 2018: AED 550,000 a yearNew contract, July 2018: AED 450,000 a yearRenewal, July 2019: AED 430,000 a yearNew contract, October 2020: AED 500,000 a yearNew contract, April 2021: AED 500,000 a yearRenewal, October 2021: AED 550,000 a year

Annual rent on each registered contract; the dashed line is the four-bed median of each year in the building.

4-beds in Residence 22 (Formerly Fareed Tower), and where 2201 sits

All 19 4-beds →

2201 last sold in October 2024 at AED 3,016 per sqft, in line with what four-beds in Residence 22 (Formerly Fareed Tower) were fetching at the time (AED 3,018).

Recent 4-bed salesUnit no.Price (AED)Summary
8 May 202515,794,286
8 May 202516,260,068
8 May 202516,260,068
8 May 202516,260,068
0 4-bed sales in the last 12 months

Residence 22 (Formerly Fareed Tower)

Building

23 apartments, studios to 4-bed over 22 floors in Business Bay, completed in 2016. No sale in the last 12 months.

Typical price per sqft
Few sales
Typical sale
Few sales
Typical rent
Few contracts
Typical yield
Residence 22 (Formerly Fareed Tower), Business Bay: prices, sales and rents →

2201, Residence 22 (Formerly Fareed Tower) in numbers

  • Sold twice: first on 26 May 2022 for AED 9,053,794, last on 1 October 2024 for AED 14,848,000 (AED 3,016 per sqft).
  • Rented since December 2017 on 7 Ejari contracts, from AED 461,538 to AED 550,000 a year.
  • At AED 550,000 a year the gross yield on the 2024 price is 3.7%.

Source: YallaValue analysis of Dubai Land Department records. Updated 1 October 2024.

Questions about 2201, Residence 22 (Formerly Fareed Tower)

What did unit 2201 last sell for?

AED 14,848,000 on 1 October 2024: AED 3,016 per sqft for 4,922 sqft. The unit has 2 registered sales; the first was AED 9,053,794 in May 2022.

What is the rent for unit 2201?

AED 550,000 a year on the contract renewed on 15 October 2021. The previous contract, from April 2021, was AED 500,000; the unit has been rented since December 2017.

How big is unit 2201?

4,922 sqft (457.3 sqm): a four-bedroom apartment on the 22nd floor of a 22-storey tower completed in 2016.

What is unit 2201 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google.

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Mortgage on 2201, Residence 22 (Formerly Fareed Tower)

Starts from the last sale price (AED 14.85M, 1 October 2024). Switch to today's estimate once you have unlocked it.
Price
AED 14,848,000
Deposit, UAE resident (20%)
AED 2,969,600
Deposit, non-resident (40%)
AED 5,939,200
Monthly over 25 years at 3.7%
AED 60,748

Plus AED 628,626 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →