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Studio · 438 sqftMAG 318 Tower, Business Bay · 20th floor · completed 2020

2003, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in January 2021, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2003 · DLD and Ejari recordsUpdated 1 July 2024
Last soldAED 919K6 January 2021
Current rentAED 70K /yr1 July 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 2003, MAG 318 Tower

What is 2003 worth today?

Last sold for AED 918,683 in 2021

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1 Jul 2024RentedNew contract
AED 70,000/yr12 months · AED 159 per sqft
10 Apr 2022RentedNew contract
AED 60,000/yr12 months · AED 136 per sqft
1 Oct 2021RentedNew contract
AED 50,000/yr12 months · AED 113 per sqft
6 Jan 2021Sold by developerReady
AED 918,683AED 2,097 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 1 July 2024.

Key facts

Type
Studio apartment
Size
438 sqft
Floor
20th of 22
Parking
B2-60
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 919K · January 2021
Building
MAG 318 Tower

About 2003, MAG 318 Tower

2003 is a studio of 438 sqft on the 20th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 6 January 2021 for AED 918,683, or AED 2,097 per sqft, 4% above the AED 2,016 studios in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, signed on 1 July 2024, is AED 70,000 a year: a gross yield of 7.6% on the 2021 price, before the service charge of about AED 10,100 a year.

Sales and rents for 2003 over time

Sales
Unit 2003, 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, January 2021: AED 918,683 (AED 2,097 per sqft)

2003 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 2003, 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, October 2021: AED 50,000 a yearNew contract, April 2022: AED 60,000 a yearNew contract, July 2024: AED 70,000 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 2003 sits

All 299 studios →

2003 last sold in January 2021 at AED 2,097 per sqft, 4% above what studios in MAG 318 Tower were fetching at the time (AED 2,016). 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. 2003's AED 70,000 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 20th floor

All 439 units in MAG 318 Tower
Value
20011-bedAED 1.8M · Apr 2025
20022-bedAED 1.8M · Aug 2021
2004StudioAED 970K · Sep 2023
2005StudioAED 930K · Jul 2023
2006StudioAED 912K · Aug 2021
2007StudioAED 980K · Dec 2023
2008StudioAED 933K · Jan 2021
1–7 of 23

2003, MAG 318 Tower in numbers

  • Sold once: by MAG on 6 January 2021 for AED 918,683, or AED 2,097 per sqft.
  • Rented since October 2021 on 3 Ejari contracts, from AED 50,000 to AED 70,000 a year.
  • At AED 70,000 a year the gross yield on the 2021 price is 7.6%, 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 1 July 2024.

Questions about 2003, MAG 318 Tower

What did unit 2003 last sell for?

AED 918,683 on 6 January 2021, sold by the developer: AED 2,097 per sqft for 438 sqft. It is the only registered sale of the unit.

What is the rent for unit 2003?

AED 70,000 a year on the contract signed on 1 July 2024. The previous contract, from April 2022, was AED 60,000; the unit has been rented since October 2021.

How big is unit 2003?

438 sqft (40.7 sqm): a studio on the 20th floor of a 22-storey tower completed in 2020.

What is unit 2003 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 2003, MAG 318 Tower

Starts from the last sale price (AED 919K, 6 January 2021). Switch to today's estimate once you have unlocked it.
Price
AED 918,683
Deposit, UAE resident (20%)
AED 183,737
Deposit, non-resident (40%)
AED 367,473
Monthly over 25 years at 3.7%
AED 3,759

Plus AED 43,594 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →