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

1610, MAG 318 Tower

Sold prices and rental history: sold 4 times, last in July 2024, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1610 · DLD and Ejari recordsUpdated 3 July 2024
Last soldAED 1.1M3 July 2024
Current rentAED 75K /yr25 January 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1610, MAG 318 Tower

What is 1610 worth today?

Last sold for AED 1,100,000 in 2024

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3 Jul 2024SoldReady
AED 1,100,000AED 2,547 per sqft
25 Jan 2024RentedNew contract
AED 75,000/yr12 months · AED 174 per sqft
20 Mar 2023SoldReady
AED 935,000AED 2,165 per sqft
3 Feb 2022SoldReady
AED 700,000AED 1,620 per sqft
1 Jan 2022RentedNew contract
AED 58,000/yr12 months · AED 135 per sqft
10 Dec 2017Sold by developerOff-plan
AED 772,791AED 1,789 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 3 July 2024.

Key facts

Type
Studio apartment
Size
432 sqft
Floor
16th of 22
Parking
P1-75
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 1.1M · July 2024
Building
MAG 318 Tower

About 1610, MAG 318 Tower

1610 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 3 July 2024 for AED 1,100,000, or AED 2,547 per sqft, 12% above the AED 2,267 studios in the building were fetching at the time.

It has been rented since 2022 on 2 Ejari contracts. The current contract, signed on 25 January 2024, is AED 75,000 a year: a gross yield of 6.8% on the 2024 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1610 over time

Sales
Unit 1610, 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, December 2017: AED 772,791 (AED 1,789 per sqft)Sold, February 2022: AED 700,000 (AED 1,620 per sqft)Sold, March 2023: AED 935,000 (AED 2,165 per sqft)Sold, July 2024: AED 1,100,000 (AED 2,547 per sqft)

1610 has sold 4 times; the dashed line is the studio median of each year in the building.

Rents
Unit 1610, 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 2022: AED 58,000 a yearNew contract, January 2024: 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 1610 sits

All 299 studios →

1610 last sold in July 2024 at AED 2,547 per sqft, 12% above what studios in MAG 318 Tower were fetching at the time (AED 2,267). 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. 1610'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
1603StudioAED 905K · Dec 2022
1604StudioAED 940K · Mar 2023
1605StudioAED 950K · Mar 2023
1606StudioAED 793K · Jan 2019
1607StudioAED 760K · Feb 2022
1–7 of 23

1610, MAG 318 Tower in numbers

  • Sold 4 times: first on 10 December 2017 for AED 772,791, last on 3 July 2024 for AED 1,100,000 (AED 2,547 per sqft).
  • Rented since January 2022 on 2 Ejari contracts, from AED 58,000 to AED 75,000 a year.
  • At AED 75,000 a year the gross yield on the 2024 price is 6.8%, 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 3 July 2024.

Questions about 1610, MAG 318 Tower

What did unit 1610 last sell for?

AED 1,100,000 on 3 July 2024: AED 2,547 per sqft for 432 sqft. The unit has 4 registered sales; the first was AED 772,791 in December 2017.

What is the rent for unit 1610?

AED 75,000 a year on the contract signed on 25 January 2024. The previous contract, from January 2022, was AED 58,000.

How big is unit 1610?

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

What is unit 1610 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 1610, MAG 318 Tower

Starts from the last sale price (AED 1.1M, 3 July 2024). Switch to today's estimate once you have unlocked it.
Price
AED 1,100,000
Deposit, UAE resident (20%)
AED 220,000
Deposit, non-resident (40%)
AED 440,000
Monthly over 25 years at 3.7%
AED 4,500

Plus AED 51,210 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →