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Studio · 432 sqftMAG 318 Tower, Business Bay · 16th floor · completed 2020

1605, MAG 318 Tower

Sold prices and rental history: sold 3 times, last in March 2023, and rented since 2023. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1605 · DLD and Ejari recordsUpdated 18 November 2024
Last soldAED 950K1 March 2023
Current rentAED 80K /yr18 November 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1605, MAG 318 Tower

What is 1605 worth today?

Last sold for AED 950,000 in 2023

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18 Nov 2024RentedNew contract
AED 80,000/yr12 months · AED 185 per sqft
8 Nov 2023RentedNew contract
AED 80,000/yr12 months · AED 186 per sqft
1 Mar 2023SoldReady
AED 950,000AED 2,200 per sqft
24 Jun 2022SoldReady
AED 845,000AED 1,957 per sqft
20 Sep 2021Sold by developerReady
AED 740,000AED 1,714 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 18 November 2024.

Key facts

Type
Studio apartment
Size
432 sqft
Floor
16th of 22
Parking
P1-61
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 950K · March 2023
Building
MAG 318 Tower

About 1605, MAG 318 Tower

1605 is a studio of 432 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 1 March 2023 for AED 950,000, or AED 2,200 per sqft, 8% above the AED 2,029 studios in the building were fetching at the time.

It has been rented since 2023 on 2 Ejari contracts. The current contract, signed on 18 November 2024, is AED 80,000 a year: a gross yield of 8.4% on the 2023 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1605 over time

Sales
Unit 1605, 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 2021: AED 740,000 (AED 1,714 per sqft)Sold, June 2022: AED 845,000 (AED 1,957 per sqft)Sold, March 2023: AED 950,000 (AED 2,200 per sqft)

1605 has sold 3 times; the dashed line is the studio median of each year in the building.

Rents
Unit 1605, 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, November 2023: AED 80,000 a yearNew contract, November 2024: AED 80,000 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 1605 sits

All 299 studios →

1605 last sold in March 2023 at AED 2,200 per sqft, 8% above what studios in MAG 318 Tower were fetching at the time (AED 2,029). 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. 1605's AED 80,000 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
1603StudioAED 905K · Dec 2022
1604StudioAED 940K · Mar 2023
1606StudioAED 793K · Jan 2019
1607StudioAED 760K · Feb 2022
1608StudioAED 749K · Aug 2018
1–7 of 23

1605, MAG 318 Tower in numbers

  • Sold 3 times: first on 20 September 2021 for AED 740,000, last on 1 March 2023 for AED 950,000 (AED 2,200 per sqft).
  • Rented since November 2023 on 2 Ejari contracts, at AED 80,000 a year.
  • At AED 80,000 a year the gross yield on the 2023 price is 8.4%, before a service charge of about AED 10,000 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 18 November 2024.

Questions about 1605, MAG 318 Tower

What did unit 1605 last sell for?

AED 950,000 on 1 March 2023: AED 2,200 per sqft for 432 sqft. The unit has 3 registered sales; the first was AED 740,000 in September 2021.

What is the rent for unit 1605?

AED 80,000 a year on the contract signed on 18 November 2024. The previous contract, from November 2023, was AED 80,000.

How big is unit 1605?

432 sqft (40.1 sqm): a studio on the 16th floor of a 22-storey tower completed in 2020.

What is unit 1605 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 1605, MAG 318 Tower

Starts from the last sale price (AED 950K, 1 March 2023). Switch to today's estimate once you have unlocked it.
Price
AED 950,000
Deposit, UAE resident (20%)
AED 190,000
Deposit, non-resident (40%)
AED 380,000
Monthly over 25 years at 3.7%
AED 3,887

Plus AED 44,910 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →