516, Ritz Residence
Sold prices and rental history: sold 3 times, last in December 2023, and rented since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 516, Ritz Residence
What is 516 worth today?
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Source: YallaValue analysis of Dubai Land Department records. Updated 1 March 2025.
Key facts
- Type
- Studio apartment
- Size
- 619 sqft
- Floor
- 5th of 7
- Parking
- B1-83
- Developer
- Alwifaq Investment Properties
- Completed
- 2009
- Service charge
- AED 8,900 /yr
- Last sold
- AED 315K · December 2023
- Building
- Ritz Residence
About 516, Ritz Residence
516 is a studio of 619 sqft on the 5th floor of Ritz Residence, a 7-storey tower in International City Phase 2 & 3 completed in 2009 by Alwifaq Investment Properties. It last sold on 11 December 2023 for AED 315,000, or AED 508 per sqft, in line with the AED 508 studios in the building were fetching at the time.
It has been rented since 2013 on 3 Ejari contracts. The current contract, signed on 1 March 2025, is AED 36,000 a year: a gross yield of 11.4% on the 2023 price, before the service charge of about AED 8,900 a year.
Sales and rents for 516 over time
516 has sold 3 times; 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 Ritz Residence, and where 516 sits
All 72 studios →516 last sold in December 2023 at AED 508 per sqft, in line with what studios in Ritz Residence were fetching at the time (AED 508). Over the last 12 months studios sold for AED 465,000, around AED 749 per sqft, and rent for AED 26,400 to 60,000 a year. 516's AED 36,000 is in the lower half of that range.
| Recent studio sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 22 Apr 202522 April 2025 | 461 sqft | 367,000 | 796 | ||
| 24 Dec 202424 December 2024 | 569 sqft | 415,000 | 728 | ||
| 24 Dec 202424 December 2024 | 423 sqft | 350,000 | 827 | ||
| 20 Dec 202420 December 2024 | 715 sqft | 410,000 | 573 |
Ritz Residence
Building150 apartments, studios to 1-bed over 7 floors in International City Phase 2 & 3, completed in 2009 by Alwifaq Investment Properties. 2 sold in the last 12 months.
- Typical price per sqft
- AED 794
- Typical sale
- AED 565K
- Typical rent
- AED 46K /yr
- Typical yield
- 8.6%
Other units on the 5th floor
All 150 units in Ritz Residence| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | Studio | 461 sqft | AED 367KAED 367,000 · Apr 2025April 2025 | 33,500 /yr | |
| 502 | Studio | 568 sqft | AED 437KAED 437,000 · Jun 2023June 2023 | ||
| 503 | Studio | 563 sqft | AED 275KAED 275,000 · Jun 2023June 2023 | 35,000 /yr | |
| 504 | Studio | 569 sqft | AED 415KAED 415,000 · Dec 2024December 2024 | 36,000 /yr | |
| 505 | Studio | 636 sqft | AED 410KAED 410,000 · May 2017May 2017 | 45,000 /yr | |
| 506 | Studio | 715 sqft | AED 410KAED 410,000 · Dec 2024December 2024 | 30,000 /yr | |
| 507 | 1-bed | 882 sqft | AED 380KAED 380,000 · Feb 2023February 2023 | 38,000 /yr | |
| 508 | 1-bed | 880 sqft | AED 506KAED 506,000 · May 2023May 2023 | 33,000 /yr | |
| 509 | 882 sqft | AED 600KAED 600,000 · Aug 2025August 2025 | 32,000 /yr | ||
| 510 | 1-bed | 882 sqft | AED 447KAED 447,000 · May 2024May 2024 | 43,500 /yr | |
| 511 | 1-bed | 883 sqft | AED 506KAED 506,000 · Jun 2023June 2023 | 40,000 /yr | |
| 512 | 1-bed | 791 sqft | AED 500KAED 500,000 · May 2024May 2024 | 40,000 /yr | |
| 513 | 1-bed | 888 sqft | AED 540KAED 540,000 · Jan 2025January 2025 | 41,477 /yr | |
| 514 | 1-bed | 889 sqft | AED 375KAED 375,000 · Nov 2022November 2022 | 35,000 /yr | |
| 515 | 1-bed | 1,088 sqft | AED 360KAED 360,000 · Jun 2023June 2023 | 32,000 /yr | |
| 517 | Studio | 549 sqft | AED 385KAED 385,000 · Sep 2024September 2024 | 39,893 /yr | |
| 518 | 620 sqft | AED 465KAED 465,000 · Nov 2025November 2025 | 36,000 /yr |
516, Ritz Residence in numbers
- Sold 3 times: first on 5 July 2012 for AED 470,000, last on 11 December 2023 for AED 315,000 (AED 508 per sqft).
- Rented since March 2013 on 3 Ejari contracts, from AED 27,000 to AED 36,000 a year.
- At AED 36,000 a year the gross yield on the 2023 price is 11.4%, before a service charge of about AED 8,900 a year (AED 14.31 per sqft).
- Studios in Ritz Residence sold for AED 465,000–465,000 in the 12 months to November 2026; the building's median across all types is AED 794 per sqft.
Source: YallaValue analysis of Dubai Land Department records. Updated 1 March 2025.
Questions about 516, Ritz Residence
What did unit 516 last sell for?
AED 315,000 on 11 December 2023: AED 508 per sqft for 619 sqft. The unit has 3 registered sales; the first was AED 470,000 in July 2012.
What is the rent for unit 516?
AED 36,000 a year on the contract signed on 1 March 2025. The previous contract, from May 2016, was AED 39,893; the unit has been rented since March 2013.
How big is unit 516?
619 sqft (57.5 sqm): a studio on the 5th floor of a 7-storey tower completed in 2009.
What is unit 516 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Ritz Residence sold for AED 465,000 to 465,000 in the last 12 months, around AED 749 per sqft.
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Mortgage on 516, Ritz Residence
Starts from the last sale price (AED 315K, 11 December 2023). Switch to today's estimate once you have unlocked it.- Price
- AED 315,000
- Deposit, UAE resident (20%)
- AED 63,000
- Deposit, non-resident (40%)
- AED 126,000
- Monthly over 25 years at 3.7%
- AED 1,289
Plus AED 16,140 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →