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Studio · 446 sqftMAG 318 Tower, Business Bay · 14th floor · completed 2020

1423, MAG 318 Tower

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

Unit 1423 · DLD and Ejari recordsUpdated 11 May 2025
Last soldAED 781K15 April 2019
Current rentAED 73K /yr11 May 2025
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1423, MAG 318 Tower

What is 1423 worth today?

Last sold for AED 781,148 in 2019

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11 May 2025RentedNew contract
AED 73,000/yr12 months · AED 164 per sqft
10 Feb 2024RentedNew contract
AED 77,000/yr12 months · AED 174 per sqft
10 Feb 2023RentedNew contract
AED 73,000/yr12 months · AED 164 per sqft
3 Jan 2022RentedNew contract
AED 70,000/yr12 months · AED 157 per sqft
15 Apr 2019Sold by developerOff-plan
AED 781,148AED 1,749 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 11 May 2025.

Key facts

Type
Studio apartment
Size
446 sqft
Floor
14th of 22
Parking
P1-34
Developer
MAG
Completed
2020
Service charge
AED 10,300 /yr
Last sold
AED 781K · April 2019
Building
MAG 318 Tower

About 1423, MAG 318 Tower

1423 is a studio of 446 sqft on the 14th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 15 April 2019 for AED 781,148, or AED 1,749 per sqft, in line with the AED 1,794 studios in the building were fetching at the time.

It has been rented continuously since 2022 on 4 Ejari contracts. The current contract, signed on 11 May 2025, is AED 73,000 a year: a gross yield of 9.3% on the 2019 price, before the service charge of about AED 10,300 a year.

Sales and rents for 1423 over time

Sales
Unit 1423, 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, April 2019: AED 781,148 (AED 1,749 per sqft)

1423 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1423, 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, January 2022: AED 70,000 a yearNew contract, February 2023: AED 73,000 a yearNew contract, February 2024: AED 77,000 a yearNew contract, May 2025: 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 1423 sits

All 299 studios →

1423 last sold in April 2019 at AED 1,749 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,794). 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. 1423'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 14th floor

All 439 units in MAG 318 Tower
Value
14011-bedAED 1.37M · Aug 2018
14022-bedAED 1.66M · May 2018
1403StudioAED 950K · Oct 2023
1404StudioAED 793K · May 2019
1405StudioAED 835K · Aug 2022
1406StudioAED 779K · Feb 2020
1407StudioAED 740K · Nov 2021
1–7 of 23

1423, MAG 318 Tower in numbers

  • Sold once: by MAG on 15 April 2019 for AED 781,148, or AED 1,749 per sqft.
  • Rented since January 2022 on 4 Ejari contracts, from AED 70,000 to AED 73,000 a year.
  • At AED 73,000 a year the gross yield on the 2019 price is 9.3%, before a service charge of about AED 10,300 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 11 May 2025.

Questions about 1423, MAG 318 Tower

What did unit 1423 last sell for?

AED 781,148 on 15 April 2019, sold by the developer: AED 1,749 per sqft for 446 sqft. It is the only registered sale of the unit.

What is the rent for unit 1423?

AED 73,000 a year on the contract signed on 11 May 2025. The previous contract, from February 2024, was AED 77,000; the unit has been rented since January 2022.

How big is unit 1423?

446 sqft (41.4 sqm): a studio on the 14th floor of a 22-storey tower completed in 2020.

What is unit 1423 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 1423, MAG 318 Tower

Starts from the last sale price (AED 781K, 15 April 2019). Switch to today's estimate once you have unlocked it.
Price
AED 781,148
Deposit, UAE resident (20%)
AED 156,230
Deposit, non-resident (40%)
AED 312,459
Monthly over 25 years at 3.7%
AED 3,196

Plus AED 37,818 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →