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Studio · 440 sqftMAG 318 Tower, Business Bay · 22nd floor · completed 2020

2219, MAG 318 Tower

Sold prices and rental history: sold 4 times, last in February 2024, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2219 · DLD and Ejari recordsUpdated 15 February 2024
Last soldAED 1.02M15 February 2024
Current rentAED 60K /yr25 June 2022
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 2219, MAG 318 Tower

What is 2219 worth today?

Last sold for AED 1,020,000 in 2024

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15 Feb 2024SoldReady
AED 1,020,000AED 2,319 per sqft
25 Jun 2022RentedNew contract
AED 60,000/yr12 months · AED 136 per sqft
19 Jan 2022SoldReady
AED 790,000AED 1,796 per sqft
20 Oct 2021SoldReady
AED 590,000AED 1,341 per sqft
7 Jun 2021RentedNew contract
AED 50,000/yr12 months · AED 113 per sqft
30 Jun 2019Sold by developerOff-plan
AED 600,000AED 1,364 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 15 February 2024.

Key facts

Type
Studio apartment
Size
440 sqft
Floor
22nd of 22
Parking
B1-02
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 1.02M · February 2024
Building
MAG 318 Tower

About 2219, MAG 318 Tower

2219 is a studio of 440 sqft on the 22nd floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 15 February 2024 for AED 1,020,000, or AED 2,319 per sqft, 6% above the AED 2,194 studios in the building were fetching at the time.

It has been rented since 2021 on 2 Ejari contracts. The current contract, signed on 25 June 2022, is AED 60,000 a year: a gross yield of 5.9% on the 2024 price, before the service charge of about AED 10,100 a year.

Sales and rents for 2219 over time

Sales
Unit 2219, each saleTypical studio in MAG 318 Tower
500K750K1M2017202020232026Typical 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, June 2019: AED 600,000 (AED 1,364 per sqft)Sold, October 2021: AED 590,000 (AED 1,341 per sqft)Sold, January 2022: AED 790,000 (AED 1,796 per sqft)Sold, February 2024: AED 1,020,000 (AED 2,319 per sqft)

2219 has sold 4 times; the dashed line is the studio median of each year in the building.

Rents
Unit 2219, 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, June 2021: AED 50,000 a yearNew contract, June 2022: AED 60,000 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 2219 sits

All 299 studios →

2219 last sold in February 2024 at AED 2,319 per sqft, 6% above what studios in MAG 318 Tower were fetching at the time (AED 2,194). 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. 2219's AED 60,000 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 22nd floor

All 439 units in MAG 318 Tower
Value
22011-bedAED 1.35M · Aug 2021
22022-bedAED 1.89M · Jul 2021
2203StudioAED 851K · Sep 2018
2204StudioAED 811K · Apr 2019
2205StudioAED 920K · Mar 2023
2206StudioAED 1.02M · Jul 2024
2207StudioAED 650K · May 2021
1–7 of 23

2219, MAG 318 Tower in numbers

  • Sold 4 times: first on 30 June 2019 for AED 600,000, last on 15 February 2024 for AED 1,020,000 (AED 2,319 per sqft).
  • Rented since June 2021 on 2 Ejari contracts, from AED 50,000 to AED 60,000 a year.
  • At AED 60,000 a year the gross yield on the 2024 price is 5.9%, 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 15 February 2024.

Questions about 2219, MAG 318 Tower

What did unit 2219 last sell for?

AED 1,020,000 on 15 February 2024: AED 2,319 per sqft for 440 sqft. The unit has 4 registered sales; the first was AED 600,000 in June 2019.

What is the rent for unit 2219?

AED 60,000 a year on the contract signed on 25 June 2022. The previous contract, from June 2021, was AED 50,000.

How big is unit 2219?

440 sqft (40.9 sqm): a studio on the 22nd floor of a 22-storey tower completed in 2020.

What is unit 2219 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 2219, MAG 318 Tower

Starts from the last sale price (AED 1.02M, 15 February 2024). Switch to today's estimate once you have unlocked it.
Price
AED 1,020,000
Deposit, UAE resident (20%)
AED 204,000
Deposit, non-resident (40%)
AED 408,000
Monthly over 25 years at 3.7%
AED 4,173

Plus AED 47,850 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →