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Studio · 549 sqftRitz Residence, International City Phase 2 & 3 · 5th floor · completed 2009

517, Ritz Residence

Sold prices and rental history: sold 4 times, last in September 2024, and rented once, from May 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 517 · DLD and Ejari recordsUpdated 18 September 2024
Last soldAED 385K18 September 2024
Current rentAED 40K /yr28 May 2017
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 517, Ritz Residence

What is 517 worth today?

Last sold for AED 385,000 in 2024

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18 Sep 2024SoldReady
AED 385,000AED 701 per sqft
2 Oct 2023SoldReady
AED 350,000AED 637 per sqft
13 Jun 2023SoldReady
AED 275,000AED 500 per sqft
28 May 2017RentedNew contract
AED 39,893/yr12 months · AED 73 per sqft
5 Jul 2012Sold by developerReady
AED 450,000AED 819 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 18 September 2024.

Key facts

Type
Studio apartment
Size
549 sqft
Floor
5th of 7
Parking
B1-19
Developer
Alwifaq Investment Properties
Completed
2009
Service charge
AED 7,900 /yr
Last sold
AED 385K · September 2024
Building
Ritz Residence

About 517, Ritz Residence

517 is a studio of 549 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 18 September 2024 for AED 385,000, or AED 701 per sqft, 3% below the AED 724 studios in the building were fetching at the time.

One Ejari contract is registered, from 28 May 2017. The current contract, signed on 28 May 2017, is AED 39,893 a year: a gross yield of 10.4% on the 2024 price, before the service charge of about AED 7,900 a year.

Sales and rents for 517 over time

Sales
Unit 517, each saleTypical studio in Ritz Residence
300K400K2011201520192023Typical sale price by year: 2011 AED 380,000; 2012 AED 380,000; 2013 AED 320,000; 2014 AED 347,440; 2015 AED 420,000; 2016 AED 370,000; 2017 AED 372,500; 2018 AED 330,000; 2022 AED 245,000; 2023 AED 275,000; 2024 AED 352,500Sold by developer, July 2012: AED 450,000 (AED 819 per sqft)Sold, June 2023: AED 275,000 (AED 500 per sqft)Sold, October 2023: AED 350,000 (AED 637 per sqft)Sold, September 2024: AED 385,000 (AED 701 per sqft)

517 has sold 4 times; the dashed line is the studio median of each year in the building.

Rents
Unit 517, each contractTypical studio in Ritz Residence
20K30K40K2012201620202024Typical rent by year: 2012 AED 20,500; 2013 AED 26,000; 2014 AED 33,500; 2015 AED 38,000; 2016 AED 39,783; 2017 AED 36,000; 2018 AED 30,000; 2019 AED 26,000; 2020 AED 23,000; 2021 AED 20,000; 2022 AED 22,000; 2023 AED 25,000; 2024 AED 30,000; 2025 AED 33,500; 2026 AED 39,000New contract, May 2017: AED 39,893 a year

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 517 sits

All 72 studios →

517 last sold in September 2024 at AED 701 per sqft, 3% below what studios in Ritz Residence were fetching at the time (AED 724). 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. 517's AED 39,893 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
22 Apr 2025367,000
24 Dec 2024415,000
24 Dec 2024350,000
20 Dec 2024410,000
1 studio sale in the last 12 months

Ritz Residence

Building

150 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%
Ritz Residence, International City Phase 2 & 3: prices, sales and rents →

Other units on the 5th floor

All 150 units in Ritz Residence
Value
501StudioAED 367K · Apr 2025
502StudioAED 437K · Jun 2023
503StudioAED 275K · Jun 2023
504StudioAED 415K · Dec 2024
505StudioAED 410K · May 2017
506StudioAED 410K · Dec 2024
5071-bedAED 380K · Feb 2023
1–7 of 17

517, Ritz Residence in numbers

  • Sold 4 times: first on 5 July 2012 for AED 450,000, last on 18 September 2024 for AED 385,000 (AED 701 per sqft).
  • Rented since May 2017 on one Ejari contract, at AED 39,893 a year.
  • At AED 39,893 a year the gross yield on the 2024 price is 10.4%, before a service charge of about AED 7,900 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 18 September 2024.

Questions about 517, Ritz Residence

What did unit 517 last sell for?

AED 385,000 on 18 September 2024: AED 701 per sqft for 549 sqft. The unit has 4 registered sales; the first was AED 450,000 in July 2012.

What is the rent for unit 517?

AED 39,893 a year on the contract signed on 28 May 2017.

How big is unit 517?

549 sqft (51.0 sqm): a studio on the 5th floor of a 7-storey tower completed in 2009.

What is unit 517 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 517, Ritz Residence

Starts from the last sale price (AED 385K, 18 September 2024). Switch to today's estimate once you have unlocked it.
Price
AED 385,000
Deposit, UAE resident (20%)
AED 77,000
Deposit, non-resident (40%)
AED 154,000
Monthly over 25 years at 3.7%
AED 1,575

Plus AED 19,080 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →