503, Modelux Tower 1
Sold prices and rental history: sold twice, last in August 2023, and rented since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 503, Modelux Tower 1
What is 503 worth today?
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Source: Dubai Land Department. Updated 23 August 2023.
Key facts
- Type
- Studio apartment
- Size
- 526 sqft
- Floor
- 5th of 6
- Parking
- G-503
- Developer
- Modelux Real Estate Development
- Completed
- 2017
- Service charge
- AED 7,000 /yr
- Last sold
- AED 400K · August 2023
- Building
- Modelux Tower 1
About 503, Modelux Tower 1
503 is a studio of 526 sqft on the 5th floor of Modelux Tower 1, a 6-storey tower in International City Phase 2 & 3 completed in 2017 by Modelux Real Estate Development. It last sold on 23 August 2023 for AED 400,000, or AED 760 per sqft, 32% above the AED 577 studios in the building were fetching at the time.
It has been rented since 2020 on 2 Ejari contracts. The current contract, signed on 2 April 2021, is AED 22,000 a year: a gross yield of 5.5% on the 2023 price, before the service charge of about AED 7,000 a year.
Sales and rents for 503 over time
503 has sold twice; the dashed line is the studio median of each year in the building.
Annual rent on each registered contract; the dashed line is the studio median of each year in the building.
Studios in Modelux Tower 1, and where 503 sits
All 60 studios →503 last sold in August 2023 at AED 760 per sqft, 32% above what studios in Modelux Tower 1 were fetching at the time (AED 577). Over the last 12 months studios sold for AED 490,000, around AED 931 per sqft, and rent for AED 34,000 to 52,800 a year. 503's AED 22,000 is at the bottom of that range.
| Recent studio sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 10 Dec 202510 December 2025 | 526 sqft | 490,000 | 931 | ||
| 20 May 202520 May 2025 | 526 sqft | 460,000 | 874 | ||
| 13 May 202513 May 2025 | 522 sqft | 460,000 | 881 | ||
| 24 Mar 202524 March 2025 | 523 sqft | 418,000 | 799 |
Modelux Tower 1
Building75 apartments, studios to 2-bed over 6 floors in International City Phase 2 & 3, completed in 2017 by Modelux Real Estate Development. 1 sold in the last 12 months.
- Typical price per sqft
- AED 931
- Typical sale
- AED 490K
- Typical rent
- AED 43K /yr
- Typical yield
- 9.0%
Other units on the 5th floor
All 75 units in Modelux Tower 1| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | Studio | 529 sqft | AED 300KAED 300,000 · Mar 2023March 2023 | ||
| 502 | Studio | 514 sqft | AED 290KAED 290,000 · Aug 2019August 2019 | ||
| 504 | Studio | 522 sqft | AED 255KAED 255,000 · May 2021May 2021 | 40,000 /yr | |
| 505 | Studio | 521 sqft | AED 375KAED 375,000 · Dec 2024December 2024 | 30,829 /yr | |
| 506 | Studio | 522 sqft | AED 460KAED 460,000 · May 2025May 2025 | 46,000 /yr | |
| 507 | Studio | 515 sqft | AED 365KAED 365,000 · Feb 2024February 2024 | 40,000 /yr | |
| 509 | Studio | 497 sqft | AED 365KAED 365,000 · Feb 2024February 2024 | 42,000 /yr | |
| 510 | Studio | 511 sqft | AED 405KAED 405,000 · Oct 2024October 2024 | 40,000 /yr | |
| 511 | Studio | 512 sqft | AED 325KAED 325,000 · Feb 2024February 2024 | 31,000 /yr | |
| 513 | Studio | 512 sqft | AED 400KAED 400,000 · Jun 2024June 2024 | 28,000 /yr | |
| 514 | Studio | 505 sqft | AED 475KAED 475,000 · Oct 2017October 2017 | ||
| 515 | 2-bed | 830 sqft | AED 438KAED 437,500 · Sep 2022September 2022 | 34,000 /yr |
503, Modelux Tower 1 in numbers
- Sold twice: first on 10 May 2021 for AED 300,000, last on 23 August 2023 for AED 400,000 (AED 760 per sqft).
- Rented since March 2020 on 2 Ejari contracts, from AED 28,000 to AED 22,000 a year.
- At AED 22,000 a year the gross yield on the 2023 price is 5.5%, before a service charge of about AED 7,000 a year (AED 13.28 per sqft).
- Studios in Modelux Tower 1 sold for AED 490,000–490,000 in the 12 months to November 2026; the building's median across all types is AED 931 per sqft.
Source: Dubai Land Department. Updated 23 August 2023.
Questions about 503, Modelux Tower 1
What did unit 503 last sell for?
AED 400,000 on 23 August 2023: AED 760 per sqft for 526 sqft. The unit has 2 registered sales; the first was AED 300,000 in May 2021.
What is the rent for unit 503?
AED 22,000 a year on the contract signed on 2 April 2021. The previous contract, from March 2020, was AED 28,000.
How big is unit 503?
526 sqft (48.9 sqm): a studio on the 5th floor of a 6-storey tower completed in 2017.
What is unit 503 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Modelux Tower 1 sold for AED 490,000 to 490,000 in the last 12 months, around AED 931 per sqft.
Selling 503? Put it on the OpenOffers board
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Mortgage on 503, Modelux Tower 1
Starts from the last sale price (AED 400K, 23 August 2023). Switch to today's estimate once you have unlocked it.- Price
- AED 400,000
- Deposit, UAE resident (20%)
- AED 80,000
- Deposit, non-resident (40%)
- AED 160,000
- Monthly over 25 years at 3.7%
- AED 1,637
Plus AED 19,710 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →