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Studio · 438 sqftMAG 318 Tower, Business Bay · 16th floor · completed 2020

1603, MAG 318 Tower

Sold prices and rental history: sold twice, last in December 2022, and rented once, from January 2025. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1603 · DLD and Ejari recordsUpdated 27 January 2025
Last soldAED 905K9 December 2022
Current rentAED 75K /yr27 January 2025
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1603, MAG 318 Tower

What is 1603 worth today?

Last sold for AED 905,000 in 2022

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27 Jan 2025RentedNew contract
AED 75,000/yr12 months · AED 170 per sqft
9 Dec 2022SoldReady
AED 905,000AED 2,065 per sqft
30 Sep 2018Sold by developerOff-plan
AED 773,246AED 1,765 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 27 January 2025.

Key facts

Type
Studio apartment
Size
438 sqft
Floor
16th of 22
Parking
P1-59
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 905K · December 2022
Building
MAG 318 Tower

About 1603, MAG 318 Tower

1603 is a studio of 438 sqft on the 16th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 9 December 2022 for AED 905,000, or AED 2,065 per sqft, 5% above the AED 1,960 studios in the building were fetching at the time.

One Ejari contract is registered, from 27 January 2025. The current contract, signed on 27 January 2025, is AED 75,000 a year: a gross yield of 8.3% on the 2022 price, before the service charge of about AED 10,100 a year.

Sales and rents for 1603 over time

Sales
Unit 1603, 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, September 2018: AED 773,246 (AED 1,765 per sqft)Sold, December 2022: AED 905,000 (AED 2,065 per sqft)

1603 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1603, 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 2025: 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 1603 sits

All 299 studios →

1603 last sold in December 2022 at AED 2,065 per sqft, 5% above what studios in MAG 318 Tower were fetching at the time (AED 1,960). 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. 1603'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 16th floor

All 439 units in MAG 318 Tower
Value
16011-bedAED 1.46M · Sep 2021
16022-bedAED 2.25M · Dec 2020
1604StudioAED 940K · Mar 2023
1605StudioAED 950K · Mar 2023
1606StudioAED 793K · Jan 2019
1607StudioAED 760K · Feb 2022
1608StudioAED 749K · Aug 2018
1–7 of 23

1603, MAG 318 Tower in numbers

  • Sold twice: first on 30 September 2018 for AED 773,246, last on 9 December 2022 for AED 905,000 (AED 2,065 per sqft).
  • Rented since January 2025 on one Ejari contract, at AED 75,000 a year.
  • At AED 75,000 a year the gross yield on the 2022 price is 8.3%, 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 27 January 2025.

Questions about 1603, MAG 318 Tower

What did unit 1603 last sell for?

AED 905,000 on 9 December 2022: AED 2,065 per sqft for 438 sqft. The unit has 2 registered sales; the first was AED 773,246 in September 2018.

What is the rent for unit 1603?

AED 75,000 a year on the contract signed on 27 January 2025.

How big is unit 1603?

438 sqft (40.7 sqm): a studio on the 16th floor of a 22-storey tower completed in 2020.

What is unit 1603 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 1603, MAG 318 Tower

Starts from the last sale price (AED 905K, 9 December 2022). Switch to today's estimate once you have unlocked it.
Price
AED 905,000
Deposit, UAE resident (20%)
AED 181,000
Deposit, non-resident (40%)
AED 362,000
Monthly over 25 years at 3.7%
AED 3,703

Plus AED 43,020 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →