Unit 623, Elite Business Bay Residence: what it sold for and what it is worth now

Unit 623 at Elite Business Bay Residence is a studio of 495 sq ft. It last sold for AED 700,000 on 31 Jan 2023. At AED 1,482 per sq ft, from 33 sales in the building in the last 12 months (studio), it is worth about AED 734,000 today.

Value todayAED 734,000AED 568,000 to AED 800,000
Last saleAED 700,00031 Jan 2023 · Resale
Change since last sale+4.9%Building trend alone: AED 790,624
Rent (median asking, studio)AED 54,450Gross yield 7.4%
Bedroomsstudio
Size495 sq ft
Floor6 (from the unit number)
Position in the towerStack 23: units ending 23 share the same layout and view
BuildingElite Business Bay Residence by Ellington Properties, handed over 2020
Registered sales of this unit2

Every registered sale of unit 623

DatePriceSizeAED/sq ftType
31 Jan 2023AED 700,000495 sq ft1,414Resale
2 Mar 2020AED 638,400495 sq ft1,290Off-plan

Units ending 23 (same position, other floors)

UnitDatePriceSizeAED/sq ftType
162319 Aug 2026AED 830,000495 sq ft1,677Resale
22331 Jul 2026AED 718,000495 sq ft1,451Resale
112317 May 2024AED 800,000495 sq ft1,616Resale
82324 Apr 2024AED 600,000495 sq ft1,212Resale
22327 Apr 2023AED 645,000495 sq ft1,303Resale
42314 Nov 2022AED 605,000495 sq ft1,222Resale
32314 Nov 2022AED 605,000495 sq ft1,222Resale
52314 Nov 2022AED 610,000495 sq ft1,232Resale

Latest studio sales in Elite Business Bay Residence

UnitDatePriceSizeAED/sq ftType
200622 Sep 2026AED 760,000498 sq ft1,526Resale
19042 Sep 2026AED 750,000506 sq ft1,482Resale
162319 Aug 2026AED 830,000495 sq ft1,677Resale
10314 Aug 2026AED 787,500480 sq ft1,641Resale
18067 Aug 2026AED 800,000498 sq ft1,606Resale
22331 Jul 2026AED 718,000495 sq ft1,451Resale
72026 Jun 2026AED 730,000503 sq ft1,451Resale
30222 May 2026AED 725,000480 sq ft1,510Resale

How we worked out the value

We took the 33 sales in Elite Business Bay Residence in the last 12 months (studio), worked out the price per sq ft of each, and used the middle value (AED 1,482). We multiplied it by the size of this unit (495 sq ft). The range uses the middle half of those sales (AED 1,148 to AED 1,616 per sq ft). As a check, the last sale moved by the building's own price change since then gives AED 790,624. Floor, view, condition and upgrades can move the price either way. Sales data to 22 Sep 2026, from the Dubai Land Department register.

Questions

What is unit 623 at Elite Business Bay Residence worth?

About AED 734,000 (range AED 568,000 to AED 800,000), based on AED 1,482 per sq ft from registered sales up to 22 Sep 2026.

When did unit 623 last sell?

31 Jan 2023, for AED 700,000 (resale). It has 2 registered sales.

What rent can unit 623 make?

A studio in Elite Business Bay Residence rents for about AED 54,450 a year (median asking rent). That is a gross yield of 7.4% on the estimate.

Sales alert for Elite Business Bay ResidenceAll sales in Elite Business Bay Residence

Unit 622 · Unit 701