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Studio · 441 sqftMAG 318 Tower, Business Bay · 10th floor · completed 2020

1020, MAG 318 Tower

Sold prices and rental history: sold twice, last in August 2023, and rented once, from June 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1020 · DLD and Ejari recordsUpdated 30 August 2023
Last soldAED 960K30 August 2023
Current rentAED 65K /yr11 June 2022
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1020, MAG 318 Tower

What is 1020 worth today?

Last sold for AED 960,000 in 2023

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30 Aug 2023SoldReady
AED 960,000AED 2,176 per sqft
11 Jun 2022RentedNew contract
AED 65,000/yr12 months · AED 147 per sqft
8 Oct 2018Sold by developerOff-plan
AED 790,000AED 1,790 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 30 August 2023.

Key facts

Type
Studio apartment
Size
441 sqft
Floor
10th of 22
Parking
P2-36
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 960K · August 2023
Building
MAG 318 Tower

About 1020, MAG 318 Tower

1020 is a studio of 441 sqft on the 10th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 30 August 2023 for AED 960,000, or AED 2,176 per sqft, in line with the AED 2,125 studios in the building were fetching at the time.

One Ejari contract is registered, from 11 June 2022. The current contract, signed on 11 June 2022, is AED 65,000 a year: a gross yield of 6.8% on the 2023 price, before the service charge of about AED 10,200 a year.

Sales and rents for 1020 over time

Sales
Unit 1020, 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, October 2018: AED 790,000 (AED 1,790 per sqft)Sold, August 2023: AED 960,000 (AED 2,176 per sqft)

1020 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1020, 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, June 2022: AED 65,000 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 1020 sits

All 299 studios →

1020 last sold in August 2023 at AED 2,176 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 2,125). 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. 1020's AED 65,000 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

1020, MAG 318 Tower in numbers

  • Sold twice: first on 8 October 2018 for AED 790,000, last on 30 August 2023 for AED 960,000 (AED 2,176 per sqft).
  • Rented since June 2022 on one Ejari contract, at AED 65,000 a year.
  • At AED 65,000 a year the gross yield on the 2023 price is 6.8%, before a service charge of about AED 10,200 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 30 August 2023.

Questions about 1020, MAG 318 Tower

What did unit 1020 last sell for?

AED 960,000 on 30 August 2023: AED 2,176 per sqft for 441 sqft. The unit has 2 registered sales; the first was AED 790,000 in October 2018.

What is the rent for unit 1020?

AED 65,000 a year on the contract signed on 11 June 2022.

How big is unit 1020?

441 sqft (41.0 sqm): a studio on the 10th floor of a 22-storey tower completed in 2020.

What is unit 1020 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 1020, MAG 318 Tower

Starts from the last sale price (AED 960K, 30 August 2023). Switch to today's estimate once you have unlocked it.
Price
AED 960,000
Deposit, UAE resident (20%)
AED 192,000
Deposit, non-resident (40%)
AED 384,000
Monthly over 25 years at 3.7%
AED 3,928

Plus AED 45,330 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →