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Studio · 441 sqftMAG 318 Tower, Business Bay · 13th floor · completed 2020

1322, MAG 318 Tower

Sold prices and rental history: sold 3 times, last in August 2024, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1322 · DLD and Ejari recordsUpdated 28 August 2024
Last soldAED 1.03M28 August 2024
Current rentAED 75K /yr12 October 2023
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1322, MAG 318 Tower

What is 1322 worth today?

Last sold for AED 1,030,000 in 2024

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28 Aug 2024SoldReady
AED 1,030,000AED 2,335 per sqft
12 Oct 2023RentedRenewal
AED 75,000/yr12 months · AED 170 per sqft
12 Nov 2022RentedNew contract
AED 70,000/yr12 months · AED 159 per sqft
26 May 2022SoldReady
AED 870,000AED 1,972 per sqft
5 Jun 2018Sold by developerOff-plan
AED 790,000AED 1,790 per sqft

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

Key facts

Type
Studio apartment
Size
441 sqft
Floor
13th of 22
Parking
P1-13
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 1.03M · August 2024
Building
MAG 318 Tower

About 1322, MAG 318 Tower

1322 is a studio of 441 sqft on the 13th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 28 August 2024 for AED 1,030,000, or AED 2,335 per sqft, in line with the AED 2,273 studios in the building were fetching at the time.

It has been rented since 2022 on 2 Ejari contracts. The current contract, renewed on 12 October 2023, is AED 75,000 a year: a gross yield of 7.3% on the 2024 price, before the service charge of about AED 10,200 a year.

Sales and rents for 1322 over time

Sales
Unit 1322, 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, June 2018: AED 790,000 (AED 1,790 per sqft)Sold, May 2022: AED 870,000 (AED 1,972 per sqft)Sold, August 2024: AED 1,030,000 (AED 2,335 per sqft)

1322 has sold 3 times; the dashed line is the studio median of each year in the building.

Rents
Unit 1322, 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, November 2022: AED 70,000 a yearRenewal, October 2023: 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 1322 sits

All 299 studios →

1322 last sold in August 2024 at AED 2,335 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 2,273). 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. 1322'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 13th floor

All 439 units in MAG 318 Tower
Value
13011-bedAED 1.54M · Mar 2020
13022-bedAED 2.25M · Dec 2020
1303StudioAED 970K · Feb 2024
1304StudioAED 810K · Sep 2018
1305StudioAED 1.01M · Aug 2021
1306StudioAED 650K · Aug 2021
1307StudioAED 1.07M · Feb 2025
1–7 of 23

1322, MAG 318 Tower in numbers

  • Sold 3 times: first on 5 June 2018 for AED 790,000, last on 28 August 2024 for AED 1,030,000 (AED 2,335 per sqft).
  • Rented since November 2022 on 2 Ejari contracts, from AED 70,000 to AED 75,000 a year.
  • At AED 75,000 a year the gross yield on the 2024 price is 7.3%, 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 28 August 2024.

Questions about 1322, MAG 318 Tower

What did unit 1322 last sell for?

AED 1,030,000 on 28 August 2024: AED 2,335 per sqft for 441 sqft. The unit has 3 registered sales; the first was AED 790,000 in June 2018.

What is the rent for unit 1322?

AED 75,000 a year on the contract renewed on 12 October 2023. The previous contract, from November 2022, was AED 70,000.

How big is unit 1322?

441 sqft (41.0 sqm): a studio on the 13th floor of a 22-storey tower completed in 2020.

What is unit 1322 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 1322, MAG 318 Tower

Starts from the last sale price (AED 1.03M, 28 August 2024). Switch to today's estimate once you have unlocked it.
Price
AED 1,030,000
Deposit, UAE resident (20%)
AED 206,000
Deposit, non-resident (40%)
AED 412,000
Monthly over 25 years at 3.7%
AED 4,214

Plus AED 48,270 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →