701, Balqis Residence 1
Sold prices and rental history: sold once, by the developer in August 2020, and rented since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 701, Balqis Residence 1
What is 701 worth today?
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Source: YallaValue analysis of Dubai Land Department records. Updated 11 October 2023.
Key facts
- Type
- 2-bed apartment
- Size
- 2,008 sqft
- Floor
- 7th of 11
- Parking
- G-68 , G-48
- Developer
- Balqis Residence
- Completed
- 2019
- Service charge
- AED 35,800 /yr
- Last sold
- AED 1.63M · August 2020
- Building
- Balqis Residence 1
About 701, Balqis Residence 1
701 is a two-bedroom apartment of 2,008 sqft on the 7th floor of Balqis Residence 1, a 11-storey tower in Palm Jumeirah completed in 2019 by Balqis Residence. The developer sold it on 16 August 2020 for AED 1,632,000, or AED 812 per sqft, 8% below the AED 884 two-beds in the building were fetching at the time.
It has been rented since 2019 on 2 Ejari contracts. The current contract, signed on 11 October 2023, is AED 132,250 a year: a gross yield of 8.1% on the 2020 price, before the service charge of about AED 35,800 a year.
Sales and rents for 701 over time
701 has sold once; the dashed line is the two-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in Balqis Residence 1, and where 701 sits
All 21 2-beds →701 last sold in August 2020 at AED 812 per sqft, 8% below what two-beds in Balqis Residence 1 were fetching at the time (AED 884). Over the last 12 months two-beds sold for AED 6,500,000, around AED 3,098 per sqft, and rent for AED 260,000 to 271,500 a year.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 22 Apr 202522 April 2025 | 2,008 sqft | 3,750,000 | 1,867 | ||
| 18 Feb 202518 February 2025 | 1,837 sqft | 3,850,000 | 2,095 | ||
| 10 Jun 202410 June 2024 | 1,971 sqft | 3,310,000 | 1,679 | ||
| 1 May 20241 May 2024 | 1,936 sqft | 3,550,000 | 1,833 |
Balqis Residence 1
Building54 apartments, 2-bed to 6-bed over 11 floors in Palm Jumeirah, completed in 2019 by Balqis Residence. 3 sold in the last 12 months.
- Typical price per sqft
- AED 2,562
- Typical sale
- AED 6.5M
- Typical rent
- AED 291K /yr
- Typical yield
- 5.4%
Other units on the 7th floor
All 54 units in Balqis Residence 1701, Balqis Residence 1 in numbers
- Sold once: by Balqis Residence on 16 August 2020 for AED 1,632,000, or AED 812 per sqft.
- Rented since October 2019 on 2 Ejari contracts, from AED 115,000 to AED 132,250 a year.
- At AED 132,250 a year the gross yield on the 2020 price is 8.1%, before a service charge of about AED 35,800 a year (AED 17.81 per sqft).
- Two-beds in Balqis Residence 1 sold for AED 6,500,000–6,500,000 in the 12 months to November 2026; the building's median across all types is AED 2,562 per sqft.
Source: YallaValue analysis of Dubai Land Department records. Updated 11 October 2023.
Questions about 701, Balqis Residence 1
What did unit 701 last sell for?
AED 1,632,000 on 16 August 2020, sold by the developer: AED 812 per sqft for 2,008 sqft. It is the only registered sale of the unit.
What is the rent for unit 701?
AED 132,250 a year on the contract signed on 11 October 2023. The previous contract, from October 2019, was AED 115,000.
How big is unit 701?
2,008 sqft (186.5 sqm): a two-bedroom apartment on the 7th floor of a 11-storey tower completed in 2019.
What is unit 701 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Balqis Residence 1 sold for AED 6,500,000 to 6,500,000 in the last 12 months, around AED 3,098 per sqft.
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Mortgage on 701, Balqis Residence 1
Starts from the last sale price (AED 1.63M, 16 August 2020). Switch to today's estimate once you have unlocked it.- Price
- AED 1,632,000
- Deposit, UAE resident (20%)
- AED 326,400
- Deposit, non-resident (40%)
- AED 652,800
- Monthly over 25 years at 3.7%
- AED 6,677
Plus AED 73,554 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →