1602, Al Majara Tower 1
Sold prices and rental history: sold once, by the developer in December 2008, and rented continuously since 2016. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 1602, Al Majara Tower 1
What is 1602 worth today?
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Source: YallaValue analysis of Dubai Land Department records. Updated 26 September 2023.
Key facts
- Type
- 3-bed apartment
- Size
- 2,057 sqft
- Floor
- 16th of 28
- Parking
- 220 , 221
- Developer
- Emaar
- Completed
- 2006
- Service charge
- AED 31,100 /yr
- Last sold
- AED 1.68M · December 2008
- Building
- Al Majara Tower 1
About 1602, Al Majara Tower 1
1602 is a three-bedroom apartment of 2,057 sqft on the 16th floor of Al Majara Tower 1, a 28-storey tower in Dubai Marina completed in 2006 by Emaar. The developer sold it on 21 December 2008 for AED 1,678,500, or AED 815 per sqft, in line with the AED 833 three-beds in the building were fetching at the time.
It has been rented continuously since 2016 on 8 Ejari contracts. The current contract, renewed on 26 September 2023, is AED 210,000 a year: a gross yield of 12.5% on the 2008 price, before the service charge of about AED 31,100 a year.
Sales and rents for 1602 over time
1602 has sold once; the dashed line is the three-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the three-bed median of each year in the building.
3-beds in Al Majara Tower 1, and where 1602 sits
All 35 3-beds →1602 last sold in December 2008 at AED 815 per sqft, in line with what three-beds in Al Majara Tower 1 were fetching at the time (AED 833). 1602's AED 210,000 is in the lower half of that range.
| Recent 3-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 14 Feb 202514 February 2025 | 2,057 sqft | 4,300,000 | 2,090 | ||
| 9 Jan 20259 January 2025 | 2,057 sqft | 3,950,000 | 1,920 | ||
| 18 Sep 202418 September 2024 | 2,057 sqft | 3,570,000 | 1,735 | ||
| 19 Mar 202419 March 2024 | 2,287 sqft | 4,000,000 | 1,749 |
Al Majara Tower 1
Building188 apartments, 1-bed to 3-bed over 28 floors in Dubai Marina, completed in 2006 by Emaar. 2 sold in the last 12 months.
- Typical price per sqft
- AED 1,934
- Typical sale
- AED 2.4M
- Typical rent
- AED 130K /yr
- Typical yield
- 5.7%
Other units on the 16th floor
All 188 units in Al Majara Tower 1| ValueToday's value | |||||
|---|---|---|---|---|---|
| 1601 | 1-bed | 951 sqft | AED 843KAED 842,888 · Feb 2011February 2011 | 125,000 /yr | |
| 1603 | 2-bed | 171 sqft | AED 150KAED 150,000 · Aug 2019August 2019 | 124,732 /yr | |
| 1604 | 2-bed | 662 sqft | AED 1.01MAED 1,010,000 · Jan 2018January 2018 | 140,000 /yr | |
| 1605 | 1-bed | 929 sqft | AED 1.61MAED 1,610,000 · Jun 2015June 2015 | 110,000 /yr | |
| 1606 | 1-bed | 841 sqft | AED 269KAED 269,000 · Dec 2009December 2009 | 79,695 /yr | |
| 1607 | 2-bed | 1,338 sqft | AED 1.23MAED 1,225,000 · Jan 2020January 2020 | 135,000 /yr |
1602, Al Majara Tower 1 in numbers
- Sold once: by Emaar on 21 December 2008 for AED 1,678,500, or AED 815 per sqft.
- Rented since February 2016 on 8 Ejari contracts. The rent fell from AED 222,000 to AED 160,000 in 2022 and recovered to AED 210,000 by September 2023.
- At AED 210,000 a year the gross yield on the 2008 price is 12.5%, before a service charge of about AED 31,100 a year (AED 15.11 per sqft).
Source: YallaValue analysis of Dubai Land Department records. Updated 26 September 2023.
Questions about 1602, Al Majara Tower 1
What did unit 1602 last sell for?
AED 1,678,500 on 21 December 2008, sold by the developer: AED 815 per sqft for 2,057 sqft. It is the only registered sale of the unit.
What is the rent for unit 1602?
AED 210,000 a year on the contract renewed on 26 September 2023. The previous contract, from September 2022, was AED 200,000; the unit has been rented since February 2016.
How big is unit 1602?
2,057 sqft (191.1 sqm): a three-bedroom apartment on the 16th floor of a 28-storey tower completed in 2006.
What is unit 1602 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 1602, Al Majara Tower 1
Starts from the last sale price (AED 1.68M, 21 December 2008). Switch to today's estimate once you have unlocked it.- Price
- AED 1,678,500
- Deposit, UAE resident (20%)
- AED 335,700
- Deposit, non-resident (40%)
- AED 671,400
- Monthly over 25 years at 3.7%
- AED 6,867
Plus AED 75,507 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →