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Studio · 433 sqftMAG 318 Tower, Business Bay · 10th floor · completed 2020

1008, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in April 2019, and rented since 2023. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1008 · DLD and Ejari recordsUpdated 28 May 2024
Last soldAED 780K23 April 2019
Current rentAED 75K /yr28 May 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1008, MAG 318 Tower

What is 1008 worth today?

Last sold for AED 780,000 in 2019

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28 May 2024RentedNew contract
AED 75,000/yr12 months · AED 174 per sqft
25 Apr 2023RentedNew contract
AED 75,000/yr12 months · AED 174 per sqft
23 Apr 2019Sold by developerOff-plan
AED 780,000AED 1,801 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 28 May 2024.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
10th of 22
Parking
P2-26
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 780K · April 2019
Building
MAG 318 Tower

About 1008, MAG 318 Tower

1008 is a studio of 433 sqft on the 10th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 23 April 2019 for AED 780,000, or AED 1,801 per sqft, in line with the AED 1,795 studios in the building were fetching at the time.

It has been rented since 2023 on 2 Ejari contracts. The current contract, signed on 28 May 2024, is AED 75,000 a year: a gross yield of 9.6% on the 2019 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1008 over time

Sales
Unit 1008, each saleTypical studio in MAG 318 Tower
800K1M2017202020232026Typical sale price by year: 2017 AED 776,165; 2018 AED 786,952; 2019 AED 791,701; 2020 AED 877,070; 2021 AED 745,000; 2022 AED 850,000; 2023 AED 947,500; 2024 AED 1,025,000; 2025 AED 1,100,000; 2026 AED 1,050,000Sold by developer, April 2019: AED 780,000 (AED 1,801 per sqft)

1008 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1008, each contractTypical studio in MAG 318 Tower
60K80K2021202320252027Typical rent by year: 2021 AED 52,000; 2022 AED 65,000; 2023 AED 70,000; 2024 AED 75,000; 2025 AED 75,908; 2026 AED 80,000New contract, April 2023: AED 75,000 a yearNew contract, May 2024: AED 75,000 a year

Annual rent on each registered contract; the dashed line is the studio median of each year in the building.

Studios in MAG 318 Tower, and where 1008 sits

All 299 studios →

1008 last sold in April 2019 at AED 1,801 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,795). Over the last 12 months studios sold for AED 1,000,000 to 1,160,000, around AED 2,475 per sqft, and rent for AED 58,000 to 120,000 a year. 1008's AED 75,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
3 Feb 20261,050,000
29 Jan 20261,000,000
27 Jan 20261,160,000
23 Dec 20251,100,000
8 studio sales in the last 12 months

MAG 318 Tower

Building

439 apartments, studios to 2-bed over 22 floors in Business Bay, completed in 2020 by MAG. 10 sold in the last 12 months.

Typical price per sqft
AED 2,457 Up 1.3%
Typical sale
AED 1.09M
Typical rent
AED 85K /yr
Typical yield
6.7%
MAG 318 Tower, Business Bay: prices, sales and rents →

Other units on the 10th floor

All 439 units in MAG 318 Tower
Value
10011-bedAED 1.53M · Jan 2021
10022-bedAED 1.85M · Jan 2021
1003StudioAED 760K · Feb 2019
1004StudioAED 760K · Jul 2021
1005StudioAED 775K · Apr 2019
1006StudioAED 760K · May 2019
1007StudioAED 1M · Jan 2026
1–7 of 23

1008, MAG 318 Tower in numbers

  • Sold once: by MAG on 23 April 2019 for AED 780,000, or AED 1,801 per sqft.
  • Rented since April 2023 on 2 Ejari contracts, at AED 75,000 a year.
  • At AED 75,000 a year the gross yield on the 2019 price is 9.6%, before a service charge of about AED 10,000 a year (AED 23.06 per sqft).
  • Studios in MAG 318 Tower sold for AED 1,000,000–1,160,000 in the 12 months to November 2026; the building's median across all types is AED 2,457 per sqft.

Source: YallaValue analysis of Dubai Land Department records. Updated 28 May 2024.

Questions about 1008, MAG 318 Tower

What did unit 1008 last sell for?

AED 780,000 on 23 April 2019, sold by the developer: AED 1,801 per sqft for 433 sqft. It is the only registered sale of the unit.

What is the rent for unit 1008?

AED 75,000 a year on the contract signed on 28 May 2024. The previous contract, from April 2023, was AED 75,000.

How big is unit 1008?

433 sqft (40.2 sqm): a studio on the 10th floor of a 22-storey tower completed in 2020.

What is unit 1008 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in MAG 318 Tower sold for AED 1,000,000 to 1,160,000 in the last 12 months, around AED 2,475 per sqft.

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Mortgage on 1008, MAG 318 Tower

Starts from the last sale price (AED 780K, 23 April 2019). Switch to today's estimate once you have unlocked it.
Price
AED 780,000
Deposit, UAE resident (20%)
AED 156,000
Deposit, non-resident (40%)
AED 312,000
Monthly over 25 years at 3.7%
AED 3,191

Plus AED 37,770 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →