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2-bed · 1,043 sqftMAG 318 Tower, Business Bay · 13th floor · completed 2020

1324, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in December 2020, and rented continuously since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1324 · DLD and Ejari recordsUpdated 1 November 2023
Last soldAED 2.3M15 December 2020
Current rentAED 165K /yr1 November 2023
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1324, MAG 318 Tower

What is 1324 worth today?

Last sold for AED 2,300,000 in 2020

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1 Nov 2023RentedRenewal
AED 165,000/yr12 months · AED 158 per sqft
1 Nov 2022RentedNew contract
AED 165,000/yr12 months · AED 158 per sqft
1 Nov 2022RentedNew contract
AED 165,000/yr12 months · AED 158 per sqft
9 May 2022RentedRenewal
AED 138,000/yr3 months · AED 132 per sqft
15 Dec 2020Sold by developerOff-plan
AED 2,300,000AED 2,204 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 1 November 2023.

Key facts

Type
2-bed apartment
Size
1,043 sqft
Floor
13th of 22
Parking
P1-66 , P1-83
Developer
MAG
Completed
2020
Service charge
AED 24,100 /yr
Last sold
AED 2.3M · December 2020
Building
MAG 318 Tower

About 1324, MAG 318 Tower

1324 is a two-bedroom apartment of 1,043 sqft on the 13th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 15 December 2020 for AED 2,300,000, or AED 2,204 per sqft, in line with the AED 2,200 two-beds in the building were fetching at the time.

It has been rented continuously since 2022 on 4 Ejari contracts. The current contract, renewed on 1 November 2023, is AED 165,000 a year: a gross yield of 7.2% on the 2020 price, before the service charge of about AED 24,100 a year.

Sales and rents for 1324 over time

Sales
Unit 1324, each saleTypical two-bed in MAG 318 Tower
1.5M2M20182020202220242026Typical sale price by year: 2018 AED 1,781,294; 2019 AED 1,773,725; 2020 AED 2,250,000; 2021 AED 1,855,087; 2022 AED 1,357,005; 2024 AED 2,120,000; 2025 AED 2,050,000Sold by developer, December 2020: AED 2,300,000 (AED 2,204 per sqft)

1324 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1324, each contractTypical two-bed in MAG 318 Tower
100K150K2021202320252027Typical rent by year: 2021 AED 101,000; 2022 AED 120,000; 2023 AED 125,500; 2024 AED 143,000; 2025 AED 144,225; 2026 AED 155,000Renewal, May 2022: AED 138,000 a yearNew contract, November 2022: AED 165,000 a yearNew contract, November 2022: AED 165,000 a yearRenewal, November 2023: AED 165,000 a year

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

2-beds in MAG 318 Tower, and where 1324 sits

All 73 2-beds →

1324 last sold in December 2020 at AED 2,204 per sqft, in line with what two-beds in MAG 318 Tower were fetching at the time (AED 2,200). Over the last 12 months two-beds sold for AED 2,000,000, around AED 2,068 per sqft, and rent for AED 85,000 to 160,000 a year. 1324's AED 165,000 is at the top of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
12 Feb 20262,000,000
21 Jul 20252,255,000
11 Apr 20252,050,000
18 Mar 20252,000,000
1 2-bed sale 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

1324, MAG 318 Tower in numbers

  • Sold once: by MAG on 15 December 2020 for AED 2,300,000, or AED 2,204 per sqft.
  • Rented since May 2022 on 4 Ejari contracts, from AED 138,000 to AED 165,000 a year.
  • At AED 165,000 a year the gross yield on the 2020 price is 7.2%, before a service charge of about AED 24,100 a year (AED 23.06 per sqft).
  • Two-beds in MAG 318 Tower sold for AED 2,000,000–2,000,000 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 1 November 2023.

Questions about 1324, MAG 318 Tower

What did unit 1324 last sell for?

AED 2,300,000 on 15 December 2020, sold by the developer: AED 2,204 per sqft for 1,043 sqft. It is the only registered sale of the unit.

What is the rent for unit 1324?

AED 165,000 a year on the contract renewed on 1 November 2023. The previous contract, from November 2022, was AED 165,000; the unit has been rented since May 2022.

How big is unit 1324?

1,043 sqft (96.9 sqm): a two-bedroom apartment on the 13th floor of a 22-storey tower completed in 2020.

What is unit 1324 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in MAG 318 Tower sold for AED 2,000,000 to 2,000,000 in the last 12 months, around AED 2,068 per sqft.

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Mortgage on 1324, MAG 318 Tower

Starts from the last sale price (AED 2.3M, 15 December 2020). Switch to today's estimate once you have unlocked it.
Price
AED 2,300,000
Deposit, UAE resident (20%)
AED 460,000
Deposit, non-resident (40%)
AED 920,000
Monthly over 25 years at 3.7%
AED 9,410

Plus AED 101,610 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →