Paramount Tower Hotel & Residences
57V8+95 - Business Bay - Dubai - United Arab Emirates
1 bedroom
2
681 sqft
$429,695
Total investment:
Unit price now:
$490,082
Annual revenue:
$40,391
Cash-on-cash return:
6,6%
+14,2%
Property Information
Type of the unit:
1 bedroom
Unit price:
$429,695
Furnishing & Repair:
$0
Contract period:
26/04/2023 - 25/04/2024
Developer:
DAMAC
District:
Business Bay
Price per sqft:
$631/sqft
Сompletion date:
02.2022
№3608
Unit no & Contract
This development stands out for its unique positioning as a luxury hotel and residential complex, branded and conceptualized in partnership with Paramount Pictures. Here's a detailed analysis of why Paramount Hotel & Residences is a compelling investment decision and its unique selling points compared to other properties in Dubai:
Iconic Branding and Design: Paramount Hotel & Residences bring the unique theme of Hollywood glamour and luxury to Dubai, offering a lifestyle experience that is unparalleled. The design and branding, inspired by the rich history of Paramount Pictures, add a unique value proposition, attracting buyers and tenants looking for an exclusive living experience.
Tourism and Hospitality Appeal: With Dubai's tourism sector continuing to grow, investments in branded residences and luxury hotels like Paramount Hotel & Residences are well-positioned to benefit from the influx of international visitors. This adds an additional layer of investment security and potential for returns through both short-term and long-term rental strategies.
Strong Developer Reputation: DAMAC Properties is known for its high-quality developments and successful delivery of luxury properties in Dubai. Investing in a project by DAMAC provides a level of assurance in terms of construction quality, project management, and timely completion.
Compared to other buildings in Dubai, Paramount Hotel & Residences by DAMAC offers a unique proposition through its Hollywood-themed branding, luxurious amenities, and strategic location in Business Bay. This combination of factors makes it an attractive investment for those seeking to capitalize on Dubai's luxury real estate and hospitality market.
Iconic Branding and Design: Paramount Hotel & Residences bring the unique theme of Hollywood glamour and luxury to Dubai, offering a lifestyle experience that is unparalleled. The design and branding, inspired by the rich history of Paramount Pictures, add a unique value proposition, attracting buyers and tenants looking for an exclusive living experience.
Tourism and Hospitality Appeal: With Dubai's tourism sector continuing to grow, investments in branded residences and luxury hotels like Paramount Hotel & Residences are well-positioned to benefit from the influx of international visitors. This adds an additional layer of investment security and potential for returns through both short-term and long-term rental strategies.
Strong Developer Reputation: DAMAC Properties is known for its high-quality developments and successful delivery of luxury properties in Dubai. Investing in a project by DAMAC provides a level of assurance in terms of construction quality, project management, and timely completion.
Compared to other buildings in Dubai, Paramount Hotel & Residences by DAMAC offers a unique proposition through its Hollywood-themed branding, luxurious amenities, and strategic location in Business Bay. This combination of factors makes it an attractive investment for those seeking to capitalize on Dubai's luxury real estate and hospitality market.
What’s Special
Property Facts & Features
Purchase Price: $429,695
Bedrooms: 1
Bathrooms: 1
Sqft: 681 ($631/sqft)
Bedrooms: 1
Bathrooms: 1
Sqft: 681 ($631/sqft)
Property Details
Revenue: $40,391/yr
Cap Rate: 6,6%
Gross Yield: 9,4%
Cash-on-Cash: 6,6%
Cap Rate: 6,6%
Gross Yield: 9,4%
Cash-on-Cash: 6,6%
Returns
Revenue: $40,391/yr
Average Daily Rate: updating
Occupancy Rate: updating
Average Daily Rate: updating
Occupancy Rate: updating
Rental Estimate
Average 1 bedroom Values: $335,400
Average Revenue: $24,500/yr
Average Occupancy: updating
Number of 1 bedroom rentals: 132
Average Revenue: $24,500/yr
Average Occupancy: updating
Number of 1 bedroom rentals: 132
Business Bay Market Data
Rental Estimate
High
$4,520
Average
$3,365
Low
$2,190
Rental Data for Business Bay
132
Number of 1 bed. rentals:
39%
ROI Score:
$24,500/yr
Average Revenue:
Rental Listing by buildings
Average Revenue by buildings
Building
Listings
Revenue
Damac Maison Prive
SLS Dubai Residences
Aykon City
43
31
31
$22,300/yr
$23,460/yr
$26,100/yr
$19,500/yr
$18,000/yr
Paramount Tower
15 Northside
Building
Building
27
14
96
96
$26,340/yr
Financial Overview
9,4%
Gross Yield:
6,6%
Cap Rate:
6,6%
Cash-on-Cash Return:
Total Investments
Financing
Revenue
Expenses
Upfront equity
Net Operating Income
Leveraged Net Cash Flow
$429,695
$0
$3,365/mo
$1,002/mo
$429,695
$28,359/yr • $2,363/mo
$28,359/yr • $2,363/mo
This is the amount of equity, or money, needed to initially acquire the property based on your financing choices and other expenses, including furnishing and initial expenses.
Also referred to as NOI, this is the amount of money you’ll be making per year from your investment, after fees and taxes. This number does not factor in mortgage payments.
Also referred to as Lev. NCF, this is the amount of money you’ll net yearly after paying mortgage payments. This dollar amount is all-inclusive, taking into account not only mortgage payments but also the taxes and fees that are factored into NOI as well.
Price History
Date
Event
Price
26/04/2023
18/10/2023
23/02/2024
02/22/2024
02/22/2024
02/22/2024
02/22/2024
Purchase
Price change
Price change
Price change
Price change
$429,695
$451,671
$490,082
$46,641/yr
$57,801/yr
$68,214/yr
02/22/2024
02/22/2024
02/22/2024
02/22/2024
02/22/2024
02/22/2024
02/22/2024
Price change
Price change
Price change
Price change
Price change
Price change
Price change
$19,207/yr
$20,936/yr
$33,252/yr
$46,641/yr
$57,801/yr
$68,214/yr
Zada Tower by DAMAC
Total investment:
Annual revenue:
Cash-on-сash return:
$190,579
$32,970
12,1%
Rented
Ghalia by DAMAC
Total investment:
Annual revenue:
Cash-on-сash return:
$108,950
$16,342
10,5%
Rented
15 Northside Tower
Total investment:
Annual revenue:
Cash-on-сash return:
$191,536
$27,964
10,2%
Rented
The Waves Tower
Total investment:
Annual revenue:
Cash-on-сash return:
$234,150
$27,395
8,2%
Rented
Anwa Tower by Omniyat
Total investment:
Annual revenue:
Cash-on-сash return:
$264,070
$26,116
6,9%
Rented
Paramount Tower Hotel & Residences
Total investment:
Annual revenue:
Cash-on-сash return:
$429,695
$40,391
6,6%
Rented
Zada Tower by DAMAC
Total investment:
Annual revenue:
Cash-on-сash return:
$190,579
$32,970
12,1%
Rented
Ghalia by DAMAC
Total investment:
Annual revenue:
Cash-on-сash return:
$108,950
$16,342
10,5%
Rented
15 Northside Tower
Total investment:
Annual revenue:
Cash-on-сash return:
$191,536
$27,964
10,2%
Rented
The Waves Tower
Total investment:
Annual revenue:
Cash-on-сash return:
$234,150
$27,395
8,2%
Rented
Anwa Tower by Omniyat
Total investment:
Annual revenue:
Cash-on-сash return:
$264,070
$26,116
6,9%
Rented
Paramount Tower Hotel & Residences
Total investment:
Annual revenue:
Cash-on-сash return:
$429,695
$40,391
6,6%
Rented
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