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Studio · 432 sqftMAG 318 Tower, Business Bay · 20th floor · completed 2020

2007, MAG 318 Tower

Sold prices and rental history: sold twice, last in December 2023, and rented continuously since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2007 · DLD and Ejari recordsUpdated 1 April 2024
Last soldAED 980K11 December 2023
Current rentAED 80K /yr1 April 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2007, MAG 318 Tower

What is 2007 worth today?

Last sold for AED 980,000 in 2023

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1 Apr 2024RentedNew contract
AED 80,000/yr12 months · AED 186 per sqft
20 Feb 2024RentedNew contract
AED 80,000/yr12 months · AED 186 per sqft
11 Dec 2023SoldReady
AED 980,000AED 2,270 per sqft
6 Feb 2023RentedRenewal
AED 62,000/yr12 months · AED 144 per sqft
6 Feb 2022RentedNew contract
AED 60,000/yr12 months · AED 139 per sqft
6 Jan 2021Sold by developerReady
AED 933,000AED 2,161 per sqft

Source: Dubai Land Department. Updated 1 April 2024.

Key facts

Type
Studio apartment
Size
432 sqft
Floor
20th of 22
Parking
B2-64
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 980K · December 2023
Building
MAG 318 Tower

About 2007, MAG 318 Tower

2007 is a studio of 432 sqft on the 20th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 11 December 2023 for AED 980,000, or AED 2,270 per sqft, 5% above the AED 2,168 studios in the building were fetching at the time.

It has been rented continuously since 2022 on 4 Ejari contracts. The current contract, signed on 1 April 2024, is AED 80,000 a year: a gross yield of 8.2% on the 2023 price, before the service charge of about AED 10,000 a year.

Sales and rents for 2007 over time

Sales
Unit 2007, 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 933,000 (AED 2,161 per sqft)Sold, December 2023: AED 980,000 (AED 2,270 per sqft)

2007 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 2007, 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, February 2022: AED 60,000 a yearRenewal, February 2023: AED 62,000 a yearNew contract, February 2024: AED 80,000 a yearNew contract, April 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 2007 sits

All 299 studios →

2007 last sold in December 2023 at AED 2,270 per sqft, 5% above what studios in MAG 318 Tower were fetching at the time (AED 2,168). 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. 2007'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 20th floor

All 439 units in MAG 318 Tower
Value
20011-bedAED 1.8M · Apr 2025
20022-bedAED 1.8M · Aug 2021
2003StudioAED 919K · Jan 2021
2004StudioAED 970K · Sep 2023
2005StudioAED 930K · Jul 2023
2006StudioAED 912K · Aug 2021
2008StudioAED 933K · Jan 2021
1–7 of 23

2007, MAG 318 Tower in numbers

  • Sold twice: first on 6 January 2021 for AED 933,000, last on 11 December 2023 for AED 980,000 (AED 2,270 per sqft).
  • Rented since February 2022 on 4 Ejari contracts, from AED 60,000 to AED 80,000 a year.
  • At AED 80,000 a year the gross yield on the 2023 price is 8.2%, 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: Dubai Land Department. Updated 1 April 2024.

Questions about 2007, MAG 318 Tower

What did unit 2007 last sell for?

AED 980,000 on 11 December 2023: AED 2,270 per sqft for 432 sqft. The unit has 2 registered sales; the first was AED 933,000 in January 2021.

What is the rent for unit 2007?

AED 80,000 a year on the contract signed on 1 April 2024. The previous contract, from February 2024, was AED 80,000; the unit has been rented since February 2022.

How big is unit 2007?

432 sqft (40.1 sqm): a studio on the 20th floor of a 22-storey tower completed in 2020.

What is unit 2007 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 2007, MAG 318 Tower

Starts from the last sale price (AED 980K, 11 December 2023). Switch to today's estimate once you have unlocked it.
Price
AED 980,000
Deposit, UAE resident (20%)
AED 196,000
Deposit, non-resident (40%)
AED 392,000
Monthly over 25 years at 3.7%
AED 4,009

Plus AED 46,170 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →