509, Modelux Tower 1
Sold prices and rental history: sold once, by the developer in February 2024, and rented since 2018. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 509, Modelux Tower 1
What is 509 worth today?
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Source: Dubai Land Department. Updated 1 May 2024.
Key facts
- Type
- Studio apartment
- Size
- 497 sqft
- Floor
- 5th of 6
- Parking
- G-509
- Developer
- Modelux Real Estate Development
- Completed
- 2017
- Service charge
- AED 6,600 /yr
- Last sold
- AED 365K · February 2024
- Building
- Modelux Tower 1
About 509, Modelux Tower 1
509 is a studio of 497 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. The developer sold it on 26 February 2024 for AED 365,000, or AED 734 per sqft, in line with the AED 747 studios in the building were fetching at the time.
It has been rented since 2018 on 2 Ejari contracts. The current contract, signed on 1 May 2024, is AED 42,000 a year: a gross yield of 11.5% on the 2024 price, before the service charge of about AED 6,600 a year.
Sales and rents for 509 over time
509 has sold once; 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 509 sits
All 60 studios →509 last sold in February 2024 at AED 734 per sqft, in line with what studios in Modelux Tower 1 were fetching at the time (AED 747). 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. 509's AED 42,000 is in the lower half 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 | |
| 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 | |
| 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 |
509, Modelux Tower 1 in numbers
- Sold once: by Modelux Real Estate Development on 26 February 2024 for AED 365,000, or AED 734 per sqft.
- Rented since May 2018 on 2 Ejari contracts, from AED 35,000 to AED 42,000 a year.
- At AED 42,000 a year the gross yield on the 2024 price is 11.5%, before a service charge of about AED 6,600 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 1 May 2024.
Questions about 509, Modelux Tower 1
What did unit 509 last sell for?
AED 365,000 on 26 February 2024, sold by the developer: AED 734 per sqft for 497 sqft. It is the only registered sale of the unit.
What is the rent for unit 509?
AED 42,000 a year on the contract signed on 1 May 2024. The previous contract, from May 2018, was AED 35,000.
How big is unit 509?
497 sqft (46.2 sqm): a studio on the 5th floor of a 6-storey tower completed in 2017.
What is unit 509 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 509? Put it on the OpenOffers board
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Mortgage on 509, Modelux Tower 1
Starts from the last sale price (AED 365K, 26 February 2024). Switch to today's estimate once you have unlocked it.- Price
- AED 365,000
- Deposit, UAE resident (20%)
- AED 73,000
- Deposit, non-resident (40%)
- AED 146,000
- Monthly over 25 years at 3.7%
- AED 1,493
Plus AED 18,240 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →