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3-bed · 2,082 sqftThe Residences 1 (W3), Downtown Dubai · 16th floor · completed 2007

1602, The Residences 1 (W3)

Sold prices and rental history: sold 3 times, last in September 2013, and rented once, from September 2012. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1602 · DLD and Ejari recordsUpdated 12 September 2013
Last soldAED 8M12 September 2013
Current rentAED 200K /yr30 September 2012
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1602, The Residences 1 (W3)

What is 1602 worth today?

Last sold for AED 8,000,000 in 2013

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12 Sep 2013SoldReady
AED 8,000,000AED 3,842 per sqft
30 Sep 2012RentedNew contract
AED 200,000/yr12 months · AED 96 per sqft
6 Sep 2010SoldReady
AED 4,200,000AED 2,017 per sqft
6 Aug 2008Sold by developerReady
AED 3,250,000AED 1,561 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 12 September 2013.

Key facts

Type
3-bed apartment
Size
2,082 sqft
Floor
16th of 38
Parking
G-628,G-629
Developer
Emaar
Completed
2007
Service charge
AED 44,900 /yr
Last sold
AED 8M · September 2013
Building
The Residences 1 (W3)

About 1602, The Residences 1 (W3)

1602 is a three-bedroom apartment of 2,082 sqft on the 16th floor of The Residences 1 (W3), a 38-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 12 September 2013 for AED 8,000,000, or AED 3,842 per sqft.

One Ejari contract is registered, from 30 September 2012. The current contract, signed on 30 September 2012, is AED 200,000 a year: a gross yield of 2.5% on the 2013 price, before the service charge of about AED 44,900 a year.

Sales and rents for 1602 over time

Sales
Unit 1602, each saleTypical three-bed in The Residences 1 (W3)
5M2008201220162020Typical sale price by year: 2008 AED 2,258,800; 2009 AED 2,104,800; 2010 AED 2,139,800; 2011 AED 2,562,888; 2013 AED 7,400,000; 2014 AED 6,825,000; 2020 AED 4,100,000; 2022 AED 3,061,980Sold by developer, August 2008: AED 3,250,000 (AED 1,561 per sqft)Sold, September 2010: AED 4,200,000 (AED 2,017 per sqft)Sold, September 2013: AED 8,000,000 (AED 3,842 per sqft)

1602 has sold 3 times; the dashed line is the three-bed median of each year in the building.

Rents
Unit 1602, each contractTypical three-bed in The Residences 1 (W3)
200K300K2012201620202024Typical rent by year: 2012 AED 210,000; 2013 AED 262,500; 2014 AED 272,500; 2015 AED 289,592; 2016 AED 270,000; 2017 AED 253,750; 2018 AED 202,500; 2019 AED 175,000; 2020 AED 170,000; 2021 AED 200,000; 2022 AED 185,000; 2023 AED 280,000; 2024 AED 305,000; 2025 AED 305,000New contract, September 2012: AED 200,000 a year

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

3-beds in The Residences 1 (W3), and where 1602 sits

All 39 3-beds →

Over the last 12 months three-beds sold for AED 7,100,000 to 20,000,000, around AED 4,745 per sqft, and rent for AED 280,000 to 320,000 a year. 1602's AED 200,000 is at the bottom of that range.

Recent 3-bed salesUnit no.Price (AED)Summary
28 Jan 20267,100,000
14 Jan 202620,000,000
25 Mar 202549,000
13 Feb 20257,500,000
2 3-bed sales in the last 12 months

The Residences 1 (W3)

Building

185 apartments, 1-bed to 3-bed over 38 floors in Downtown Dubai, completed in 2007 by Emaar. 7 sold in the last 12 months.

Typical price per sqft
AED 2,724
Typical sale
AED 3.85M
Typical rent
AED 163K /yr
Typical yield
5.0%
The Residences 1 (W3), Downtown Dubai: prices, sales and rents →

Other units on the 16th floor

All 185 units in The Residences 1 (W3)
Value
16012-bedAED 584K · Dec 2009
16032-bedAED 4.25M · Jul 2021
16041-bedAED 2.1M · Feb 2024
16051-bedAED 1.08M · Sep 2019

1602, The Residences 1 (W3) in numbers

  • Sold 3 times: first on 6 August 2008 for AED 3,250,000, last on 12 September 2013 for AED 8,000,000 (AED 3,842 per sqft).
  • Rented since September 2012 on one Ejari contract, at AED 200,000 a year.
  • At AED 200,000 a year the gross yield on the 2013 price is 2.5%, before a service charge of about AED 44,900 a year (AED 21.55 per sqft).
  • Three-beds in The Residences 1 (W3) sold for AED 7,100,000–20,000,000 in the 12 months to November 2026; the building's median across all types is AED 2,724 per sqft.

Source: YallaValue analysis of Dubai Land Department records. Updated 12 September 2013.

Questions about 1602, The Residences 1 (W3)

What did unit 1602 last sell for?

AED 8,000,000 on 12 September 2013: AED 3,842 per sqft for 2,082 sqft. The unit has 3 registered sales; the first was AED 3,250,000 in August 2008.

What is the rent for unit 1602?

AED 200,000 a year on the contract signed on 30 September 2012.

How big is unit 1602?

2,082 sqft (193.4 sqm): a three-bedroom apartment on the 16th floor of a 38-storey tower completed in 2007.

What is unit 1602 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in The Residences 1 (W3) sold for AED 7,100,000 to 20,000,000 in the last 12 months, around AED 4,745 per sqft.

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Mortgage on 1602, The Residences 1 (W3)

Starts from the last sale price (AED 8M, 12 September 2013). Switch to today's estimate once you have unlocked it.
Price
AED 8,000,000
Deposit, UAE resident (20%)
AED 1,600,000
Deposit, non-resident (40%)
AED 3,200,000
Monthly over 25 years at 3.7%
AED 32,730

Plus AED 341,010 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →