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Studio · 397 sqftMAG 318 Tower, Business Bay · 12th floor · completed 2020

1222, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in November 2019, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1222 · DLD and Ejari recordsUpdated 10 August 2024
Last soldAED 792K26 November 2019
Current rentAED 73K /yr10 August 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1222, MAG 318 Tower

What is 1222 worth today?

Last sold for AED 792,257 in 2019

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10 Aug 2024RentedNew contract
AED 73,000/yr12 months · AED 165 per sqft
7 Aug 2023RentedNew contract
AED 71,000/yr12 months · AED 161 per sqft
13 Feb 2022RentedNew contract
AED 60,000/yr12 months · AED 136 per sqft
26 Nov 2019Sold by developerOff-plan
AED 792,257AED 1,796 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 10 August 2024.

Key facts

Type
Studio apartment
Size
397 sqft
Floor
12th of 22
Parking
P2-101
Developer
MAG
Completed
2020
Service charge
AED 9,200 /yr
Last sold
AED 792K · November 2019
Building
MAG 318 Tower

About 1222, MAG 318 Tower

1222 is a studio of 397 sqft on the 12th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 26 November 2019 for AED 792,257, or AED 1,796 per sqft, in line with the AED 1,800 studios in the building were fetching at the time.

It has been rented since 2022 on 3 Ejari contracts. The current contract, signed on 10 August 2024, is AED 73,000 a year: a gross yield of 9.2% on the 2019 price, before the service charge of about AED 9,200 a year.

Sales and rents for 1222 over time

Sales
Unit 1222, 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, November 2019: AED 792,257 (AED 1,796 per sqft)

1222 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1222, 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, February 2022: AED 60,000 a yearNew contract, August 2023: AED 71,000 a yearNew contract, August 2024: AED 73,000 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 1222 sits

All 299 studios →

1222 last sold in November 2019 at AED 1,796 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,800). 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. 1222's AED 73,000 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 12th floor

All 439 units in MAG 318 Tower
Value
12011-bedAED 1.55M · Nov 2021
12022-bedAED 2M · Feb 2026
1203StudioAED 840K · Mar 2023
1204StudioAED 454K · Feb 2021
1205AED 515K · Sep 2025
1206StudioAED 765K · Oct 2020
1207StudioAED 792K · Mar 2018
1–7 of 23

1222, MAG 318 Tower in numbers

  • Sold once: by MAG on 26 November 2019 for AED 792,257, or AED 1,796 per sqft.
  • Rented since February 2022 on 3 Ejari contracts, from AED 60,000 to AED 73,000 a year.
  • At AED 73,000 a year the gross yield on the 2019 price is 9.2%, before a service charge of about AED 9,200 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 10 August 2024.

Questions about 1222, MAG 318 Tower

What did unit 1222 last sell for?

AED 792,257 on 26 November 2019, sold by the developer: AED 1,796 per sqft for 397 sqft. It is the only registered sale of the unit.

What is the rent for unit 1222?

AED 73,000 a year on the contract signed on 10 August 2024. The previous contract, from August 2023, was AED 71,000; the unit has been rented since February 2022.

How big is unit 1222?

397 sqft (36.9 sqm): a studio on the 12th floor of a 22-storey tower completed in 2020.

What is unit 1222 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 1222, MAG 318 Tower

Starts from the last sale price (AED 792K, 26 November 2019). Switch to today's estimate once you have unlocked it.
Price
AED 792,257
Deposit, UAE resident (20%)
AED 158,451
Deposit, non-resident (40%)
AED 316,903
Monthly over 25 years at 3.7%
AED 3,241

Plus AED 38,285 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →