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Studio · 433 sqftMAG 318 Tower, Business Bay · 11th floor · completed 2020

1104, MAG 318 Tower

Sold prices and rental history: sold twice, last in May 2021, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1104 · DLD and Ejari recordsUpdated 23 November 2024
Last soldAED 608K23 May 2021
Current rentAED 80K /yr23 November 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1104, MAG 318 Tower

What is 1104 worth today?

Last sold for AED 608,000 in 2021

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23 Nov 2024RentedNew contract
AED 80,000/yr12 months · AED 186 per sqft
3 Jan 2024RentedNew contract
AED 75,000/yr12 months · AED 174 per sqft
4 Jun 2022RentedNew contract
AED 65,000/yr12 months · AED 151 per sqft
23 May 2021SoldReady
AED 608,000AED 1,404 per sqft
2 Apr 2019Sold by developerOff-plan
AED 777,035AED 1,794 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 23 November 2024.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
11th of 22
Parking
P2-42
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 608K · May 2021
Building
MAG 318 Tower

About 1104, MAG 318 Tower

1104 is a studio of 433 sqft on the 11th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 23 May 2021 for AED 608,000, or AED 1,404 per sqft, 27% below the AED 1,932 studios in the building were fetching at the time.

It has been rented since 2022 on 3 Ejari contracts. The current contract, signed on 23 November 2024, is AED 80,000 a year: a gross yield of 13.2% on the 2021 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1104 over time

Sales
Unit 1104, each saleTypical studio in MAG 318 Tower
750K1M2017202020232026Typical 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 777,035 (AED 1,794 per sqft)Sold, May 2021: AED 608,000 (AED 1,404 per sqft)

1104 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1104, 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 yearNew contract, January 2024: AED 75,000 a yearNew contract, November 2024: AED 80,000 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 1104 sits

All 299 studios →

1104 last sold in May 2021 at AED 1,404 per sqft, 27% below what studios in MAG 318 Tower were fetching at the time (AED 1,932). 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. 1104's AED 80,000 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 11th floor

All 439 units in MAG 318 Tower
Value
11011-bedAED 1.51M · Sep 2018
11022-bedAED 1.72M · Nov 2020
1103StudioAED 608K · May 2021
1105StudioAED 1.08M · Dec 2020
1106StudioAED 900K · Dec 2022
1107StudioAED 818K · Jun 2020
1108StudioAED 1.04M · Jan 2025
1–7 of 23

1104, MAG 318 Tower in numbers

  • Sold twice: first on 2 April 2019 for AED 777,035, last on 23 May 2021 for AED 608,000 (AED 1,404 per sqft).
  • Rented since June 2022 on 3 Ejari contracts, from AED 65,000 to AED 80,000 a year.
  • At AED 80,000 a year the gross yield on the 2021 price is 13.2%, 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 23 November 2024.

Questions about 1104, MAG 318 Tower

What did unit 1104 last sell for?

AED 608,000 on 23 May 2021: AED 1,404 per sqft for 433 sqft. The unit has 2 registered sales; the first was AED 777,035 in April 2019.

What is the rent for unit 1104?

AED 80,000 a year on the contract signed on 23 November 2024. The previous contract, from January 2024, was AED 75,000; the unit has been rented since June 2022.

How big is unit 1104?

433 sqft (40.2 sqm): a studio on the 11th floor of a 22-storey tower completed in 2020.

What is unit 1104 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 1104, MAG 318 Tower

Starts from the last sale price (AED 608K, 23 May 2021). Switch to today's estimate once you have unlocked it.
Price
AED 608,000
Deposit, UAE resident (20%)
AED 121,600
Deposit, non-resident (40%)
AED 243,200
Monthly over 25 years at 3.7%
AED 2,488

Plus AED 30,546 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →