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Studio · 436 sqftMAG 318 Tower, Business Bay · 15th floor · completed 2020

1511, MAG 318 Tower

Sold prices and rental history: sold twice, last in August 2023, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1511 · DLD and Ejari recordsUpdated 25 August 2023
Last soldAED 920K25 August 2023
Current rentAED 65K /yr29 September 2022
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1511, MAG 318 Tower

What is 1511 worth today?

Last sold for AED 920,000 in 2023

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25 Aug 2023SoldReady
AED 920,000AED 2,110 per sqft
29 Sep 2022RentedNew contract
AED 65,000/yr12 months · AED 149 per sqft
1 Oct 2021RentedNew contract
AED 55,000/yr12 months · AED 126 per sqft
18 Jun 2018Sold by developerOff-plan
AED 806,774AED 1,850 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 25 August 2023.

Key facts

Type
Studio apartment
Size
436 sqft
Floor
15th of 22
Parking
P1-44
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 920K · August 2023
Building
MAG 318 Tower

About 1511, MAG 318 Tower

1511 is a studio of 436 sqft on the 15th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 25 August 2023 for AED 920,000, or AED 2,110 per sqft, in line with the AED 2,119 studios in the building were fetching at the time.

It has been rented since 2021 on 2 Ejari contracts. The current contract, signed on 29 September 2022, is AED 65,000 a year: a gross yield of 7.1% on the 2023 price, before the service charge of about AED 10,100 a year.

Sales and rents for 1511 over time

Sales
Unit 1511, 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 806,774 (AED 1,850 per sqft)Sold, August 2023: AED 920,000 (AED 2,110 per sqft)

1511 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1511, 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, October 2021: AED 55,000 a yearNew contract, September 2022: AED 65,000 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 1511 sits

All 299 studios →

1511 last sold in August 2023 at AED 2,110 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 2,119). 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. 1511's AED 65,000 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 15th floor

All 439 units in MAG 318 Tower
Value
15011-bedAED 1.5M · Nov 2019
15022-bedAED 1.88M · Aug 2024
1503StudioAED 760K · May 2019
1504AED 1.08M · Nov 2025
1505StudioAED 1M · Apr 2024
1506StudioAED 890K · Mar 2023
1507StudioAED 823K · Feb 2019
1–7 of 23

1511, MAG 318 Tower in numbers

  • Sold twice: first on 18 June 2018 for AED 806,774, last on 25 August 2023 for AED 920,000 (AED 2,110 per sqft).
  • Rented since October 2021 on 2 Ejari contracts, from AED 55,000 to AED 65,000 a year.
  • At AED 65,000 a year the gross yield on the 2023 price is 7.1%, before a service charge of about AED 10,100 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 25 August 2023.

Questions about 1511, MAG 318 Tower

What did unit 1511 last sell for?

AED 920,000 on 25 August 2023: AED 2,110 per sqft for 436 sqft. The unit has 2 registered sales; the first was AED 806,774 in June 2018.

What is the rent for unit 1511?

AED 65,000 a year on the contract signed on 29 September 2022. The previous contract, from October 2021, was AED 55,000.

How big is unit 1511?

436 sqft (40.5 sqm): a studio on the 15th floor of a 22-storey tower completed in 2020.

What is unit 1511 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 1511, MAG 318 Tower

Starts from the last sale price (AED 920K, 25 August 2023). Switch to today's estimate once you have unlocked it.
Price
AED 920,000
Deposit, UAE resident (20%)
AED 184,000
Deposit, non-resident (40%)
AED 368,000
Monthly over 25 years at 3.7%
AED 3,764

Plus AED 43,650 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →