505, Modelux Tower 1
Sold prices and rental history: sold twice, last in December 2024, and rented since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 505, Modelux Tower 1
What is 505 worth today?
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Source: Dubai Land Department. Updated 10 December 2024.
Key facts
- Type
- Studio apartment
- Size
- 521 sqft
- Floor
- 5th of 6
- Parking
- G-505
- Developer
- Modelux Real Estate Development
- Completed
- 2017
- Service charge
- AED 6,900 /yr
- Last sold
- AED 375K · December 2024
- Building
- Modelux Tower 1
About 505, Modelux Tower 1
505 is a studio of 521 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 10 December 2024 for AED 375,000, or AED 719 per sqft, in line with the AED 731 studios in the building were fetching at the time.
It has been rented since 2020 on 2 Ejari contracts. The current contract, signed on 23 November 2023, is AED 30,829 a year: a gross yield of 8.2% on the 2024 price, before the service charge of about AED 6,900 a year.
Sales and rents for 505 over time
505 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 505 sits
All 60 studios →505 last sold in December 2024 at AED 719 per sqft, in line with what studios in Modelux Tower 1 were fetching at the time (AED 731). 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. 505's AED 30,829 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 | ||
| 503 | Studio | 526 sqft | AED 400KAED 400,000 · Aug 2023August 2023 | 22,000 /yr | |
| 504 | Studio | 522 sqft | AED 255KAED 255,000 · May 2021May 2021 | 40,000 /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 |
505, Modelux Tower 1 in numbers
- Sold twice: first on 22 July 2019 for AED 395,000, last on 10 December 2024 for AED 375,000 (AED 719 per sqft).
- Rented since April 2020 on 2 Ejari contracts, from AED 28,075 to AED 30,829 a year.
- At AED 30,829 a year the gross yield on the 2024 price is 8.2%, before a service charge of about AED 6,900 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 10 December 2024.
Questions about 505, Modelux Tower 1
What did unit 505 last sell for?
AED 375,000 on 10 December 2024: AED 719 per sqft for 521 sqft. The unit has 2 registered sales; the first was AED 395,000 in July 2019.
What is the rent for unit 505?
AED 30,829 a year on the contract signed on 23 November 2023. The previous contract, from April 2020, was AED 28,075.
How big is unit 505?
521 sqft (48.4 sqm): a studio on the 5th floor of a 6-storey tower completed in 2017.
What is unit 505 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 505? Put it on the OpenOffers board
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Mortgage on 505, Modelux Tower 1
Starts from the last sale price (AED 375K, 10 December 2024). Switch to today's estimate once you have unlocked it.- Price
- AED 375,000
- Deposit, UAE resident (20%)
- AED 75,000
- Deposit, non-resident (40%)
- AED 150,000
- Monthly over 25 years at 3.7%
- AED 1,534
Plus AED 18,660 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →