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Studio · 433 sqftMAG 318 Tower, Business Bay · 16th floor · completed 2020

1608, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in August 2018, and rented continuously since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1608 · DLD and Ejari recordsUpdated 20 May 2025
Last soldAED 749K16 August 2018
Current rentAED 78K /yr20 May 2025
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1608, MAG 318 Tower

What is 1608 worth today?

Last sold for AED 749,000 in 2018

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20 May 2025RentedRenewal
AED 77,500/yr12 months · AED 179 per sqft
20 May 2024RentedNew contract
AED 75,000/yr12 months · AED 173 per sqft
10 Apr 2023RentedRenewal
AED 62,167/yr12 months · AED 144 per sqft
10 Apr 2022RentedNew contract
AED 62,000/yr12 months · AED 143 per sqft
16 Aug 2018Sold by developerOff-plan
AED 749,000AED 1,730 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 20 May 2025.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
16th of 22
Parking
P1-73
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 749K · August 2018
Building
MAG 318 Tower

About 1608, MAG 318 Tower

1608 is a studio of 433 sqft on the 16th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 16 August 2018 for AED 749,000, or AED 1,730 per sqft, 3% below the AED 1,790 studios in the building were fetching at the time.

It has been rented continuously since 2022 on 4 Ejari contracts. The current contract, renewed on 20 May 2025, is AED 77,500 a year: a gross yield of 10.3% on the 2018 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1608 over time

Sales
Unit 1608, 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, August 2018: AED 749,000 (AED 1,730 per sqft)

1608 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1608, 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, April 2022: AED 62,000 a yearRenewal, April 2023: AED 62,167 a yearNew contract, May 2024: AED 75,000 a yearRenewal, May 2025: AED 77,500 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 1608 sits

All 299 studios →

1608 last sold in August 2018 at AED 1,730 per sqft, 3% below what studios in MAG 318 Tower were fetching at the time (AED 1,790). 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. 1608's AED 77,500 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
1605StudioAED 950K · Mar 2023
1606StudioAED 793K · Jan 2019
1607StudioAED 760K · Feb 2022
1–7 of 23

1608, MAG 318 Tower in numbers

  • Sold once: by MAG on 16 August 2018 for AED 749,000, or AED 1,730 per sqft.
  • Rented since April 2022 on 4 Ejari contracts, from AED 62,000 to AED 77,500 a year.
  • At AED 77,500 a year the gross yield on the 2018 price is 10.3%, 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 20 May 2025.

Questions about 1608, MAG 318 Tower

What did unit 1608 last sell for?

AED 749,000 on 16 August 2018, sold by the developer: AED 1,730 per sqft for 433 sqft. It is the only registered sale of the unit.

What is the rent for unit 1608?

AED 77,500 a year on the contract renewed on 20 May 2025. The previous contract, from May 2024, was AED 75,000; the unit has been rented since April 2022.

How big is unit 1608?

433 sqft (40.2 sqm): a studio on the 16th floor of a 22-storey tower completed in 2020.

What is unit 1608 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 1608, MAG 318 Tower

Starts from the last sale price (AED 749K, 16 August 2018). Switch to today's estimate once you have unlocked it.
Price
AED 749,000
Deposit, UAE resident (20%)
AED 149,800
Deposit, non-resident (40%)
AED 299,600
Monthly over 25 years at 3.7%
AED 3,064

Plus AED 36,468 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →