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Studio · 441 sqftMAG 318 Tower, Business Bay · 15th floor · completed 2020

1517, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in November 2020, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1517 · DLD and Ejari recordsUpdated 8 July 2025
Last soldAED 889K16 November 2020
Current rentAED 72K /yr8 July 2025
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1517, MAG 318 Tower

What is 1517 worth today?

Last sold for AED 888,755 in 2020

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8 Jul 2025RentedRenewal
AED 72,000/yr12 months · AED 163 per sqft
8 Jul 2024RentedNew contract
AED 72,000/yr12 months · AED 163 per sqft
1 Aug 2023RentedRenewal
AED 63,000/yr12 months · AED 143 per sqft
1 Aug 2022RentedNew contract
AED 60,000/yr12 months · AED 136 per sqft
15 Jul 2021RentedNew contract
AED 45,000/yr12 months · AED 102 per sqft
16 Nov 2020Sold by developerOff-plan
AED 888,755AED 2,016 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 8 July 2025.

Key facts

Type
Studio apartment
Size
441 sqft
Floor
15th of 22
Parking
P1-49
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 889K · November 2020
Building
MAG 318 Tower

About 1517, MAG 318 Tower

1517 is a studio of 441 sqft on the 15th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 16 November 2020 for AED 888,755, or AED 2,016 per sqft, 8% above the AED 1,871 studios in the building were fetching at the time.

It has been rented continuously since 2021 on 5 Ejari contracts. The current contract, renewed on 8 July 2025, is AED 72,000 a year: a gross yield of 8.1% on the 2020 price, before the service charge of about AED 10,200 a year.

Sales and rents for 1517 over time

Sales
Unit 1517, 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 2020: AED 888,755 (AED 2,016 per sqft)

1517 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1517, each contractTypical studio in MAG 318 Tower
40K60K80K2021202320252027Typical 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, July 2021: AED 45,000 a yearNew contract, August 2022: AED 60,000 a yearRenewal, August 2023: AED 63,000 a yearNew contract, July 2024: AED 72,000 a yearRenewal, July 2025: AED 72,000 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 1517 sits

All 299 studios →

1517 last sold in November 2020 at AED 2,016 per sqft, 8% above what studios in MAG 318 Tower were fetching at the time (AED 1,871). 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. 1517's AED 72,000 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

1517, MAG 318 Tower in numbers

  • Sold once: by MAG on 16 November 2020 for AED 888,755, or AED 2,016 per sqft.
  • Rented since July 2021 on 5 Ejari contracts, from AED 45,000 to AED 72,000 a year.
  • At AED 72,000 a year the gross yield on the 2020 price is 8.1%, 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 8 July 2025.

Questions about 1517, MAG 318 Tower

What did unit 1517 last sell for?

AED 888,755 on 16 November 2020, sold by the developer: AED 2,016 per sqft for 441 sqft. It is the only registered sale of the unit.

What is the rent for unit 1517?

AED 72,000 a year on the contract renewed on 8 July 2025. The previous contract, from July 2024, was AED 72,000; the unit has been rented since July 2021.

How big is unit 1517?

441 sqft (41.0 sqm): a studio on the 15th floor of a 22-storey tower completed in 2020.

What is unit 1517 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 1517, MAG 318 Tower

Starts from the last sale price (AED 889K, 16 November 2020). Switch to today's estimate once you have unlocked it.
Price
AED 888,755
Deposit, UAE resident (20%)
AED 177,751
Deposit, non-resident (40%)
AED 355,502
Monthly over 25 years at 3.7%
AED 3,636

Plus AED 42,338 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →