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2-bed · 1,043 sqftMAG 318 Tower, Business Bay · 16th floor · completed 2020

1624, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in September 2020, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1624 · DLD and Ejari recordsUpdated 1 March 2025
Last soldAED 1.73M7 September 2020
Current rentAED 83K /yr1 March 2025
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 1624, MAG 318 Tower

What is 1624 worth today?

Last sold for AED 1,725,750 in 2020

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1 Mar 2025RentedRenewal
AED 83,000/yr12 months · AED 79 per sqft
15 Sep 2022RentedRenewal
AED 110,000/yr12 months · AED 105 per sqft
7 Sep 2020Sold by developerOff-plan
AED 1,725,750AED 1,654 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 1 March 2025.

Key facts

Type
2-bed apartment
Size
1,043 sqft
Floor
16th of 22
Parking
P1-98
Developer
MAG
Completed
2020
Service charge
AED 24,100 /yr
Last sold
AED 1.73M · September 2020
Building
MAG 318 Tower

About 1624, MAG 318 Tower

1624 is a two-bedroom apartment of 1,043 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 7 September 2020 for AED 1,725,750, or AED 1,654 per sqft, 11% below the AED 1,860 two-beds in the building were fetching at the time.

It has been rented since 2022 on 2 Ejari contracts. The current contract, renewed on 1 March 2025, is AED 83,000 a year: a gross yield of 4.8% on the 2020 price, before the service charge of about AED 24,100 a year.

Sales and rents for 1624 over time

Sales
Unit 1624, each saleTypical two-bed in MAG 318 Tower
1.5M2M20182020202220242026Typical sale price by year: 2018 AED 1,781,294; 2019 AED 1,773,725; 2020 AED 2,250,000; 2021 AED 1,855,087; 2022 AED 1,357,005; 2024 AED 2,120,000; 2025 AED 2,050,000Sold by developer, September 2020: AED 1,725,750 (AED 1,654 per sqft)

1624 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1624, each contractTypical two-bed in MAG 318 Tower
100K150K2021202320252027Typical rent by year: 2021 AED 101,000; 2022 AED 120,000; 2023 AED 125,500; 2024 AED 143,000; 2025 AED 144,225; 2026 AED 155,000Renewal, September 2022: AED 110,000 a yearRenewal, March 2025: AED 83,000 a year

Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.

2-beds in MAG 318 Tower, and where 1624 sits

All 73 2-beds →

1624 last sold in September 2020 at AED 1,654 per sqft, 11% below what two-beds in MAG 318 Tower were fetching at the time (AED 1,860). Over the last 12 months two-beds sold for AED 2,000,000, around AED 2,068 per sqft, and rent for AED 85,000 to 160,000 a year. 1624's AED 83,000 is at the bottom of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
12 Feb 20262,000,000
21 Jul 20252,255,000
11 Apr 20252,050,000
18 Mar 20252,000,000
1 2-bed sale 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

1624, MAG 318 Tower in numbers

  • Sold once: by MAG on 7 September 2020 for AED 1,725,750, or AED 1,654 per sqft.
  • Rented since September 2022 on 2 Ejari contracts, from AED 110,000 to AED 83,000 a year.
  • At AED 83,000 a year the gross yield on the 2020 price is 4.8%, before a service charge of about AED 24,100 a year (AED 23.06 per sqft).
  • Two-beds in MAG 318 Tower sold for AED 2,000,000–2,000,000 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 1 March 2025.

Questions about 1624, MAG 318 Tower

What did unit 1624 last sell for?

AED 1,725,750 on 7 September 2020, sold by the developer: AED 1,654 per sqft for 1,043 sqft. It is the only registered sale of the unit.

What is the rent for unit 1624?

AED 83,000 a year on the contract renewed on 1 March 2025. The previous contract, from September 2022, was AED 110,000.

How big is unit 1624?

1,043 sqft (96.9 sqm): a two-bedroom apartment on the 16th floor of a 22-storey tower completed in 2020.

What is unit 1624 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in MAG 318 Tower sold for AED 2,000,000 to 2,000,000 in the last 12 months, around AED 2,068 per sqft.

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Mortgage on 1624, MAG 318 Tower

Starts from the last sale price (AED 1.73M, 7 September 2020). Switch to today's estimate once you have unlocked it.
Price
AED 1,725,750
Deposit, UAE resident (20%)
AED 345,150
Deposit, non-resident (40%)
AED 690,300
Monthly over 25 years at 3.7%
AED 7,061

Plus AED 77,492 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →