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Studio · 441 sqftMAG 318 Tower, Business Bay · 5th floor · completed 2020

516, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in May 2019, and rented continuously since 2023. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 516 · DLD and Ejari recordsUpdated 11 April 2025
Last soldAED 804K20 May 2019
Current rentAED 75K /yr11 April 2025
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 516, MAG 318 Tower

What is 516 worth today?

Last sold for AED 803,500 in 2019

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11 Apr 2025RentedRenewal
AED 75,000/yr12 months · AED 174 per sqft
10 Apr 2024RentedRenewal
AED 69,806/yr12 months · AED 162 per sqft
10 Apr 2024RentedRenewal
AED 70,000/yr12 months · AED 163 per sqft
11 Apr 2023RentedRenewal
AED 75,000/yr12 months · AED 174 per sqft
20 May 2019Sold by developerOff-plan
AED 803,500AED 1,821 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 11 April 2025.

Key facts

Type
Studio apartment
Size
441 sqft
Floor
5th of 22
Parking
P3-24
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 804K · May 2019
Building
MAG 318 Tower

About 516, MAG 318 Tower

516 is a studio of 441 sqft on the 5th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 20 May 2019 for AED 803,500, or AED 1,821 per sqft, in line with the AED 1,796 studios in the building were fetching at the time.

It has been rented continuously since 2023 on 4 Ejari contracts. The current contract, renewed on 11 April 2025, is AED 75,000 a year: a gross yield of 9.3% on the 2019 price, before the service charge of about AED 10,200 a year.

Sales and rents for 516 over time

Sales
Unit 516, 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, May 2019: AED 803,500 (AED 1,821 per sqft)

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

Rents
Unit 516, 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 80,000Renewal, April 2023: AED 75,000 a yearRenewal, April 2024: AED 69,806 a yearRenewal, April 2024: AED 70,000 a yearRenewal, April 2025: 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 516 sits

All 299 studios →

516 last sold in May 2019 at AED 1,821 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,796). 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. 516'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 5th floor

All 439 units in MAG 318 Tower
Value
5011-bedAED 1.58M · Aug 2024
5022-bedAED 1.59M · Apr 2021
503StudioAED 745K · Nov 2021
504StudioAED 690K · Jun 2021
505StudioAED 787K · Jan 2018
506StudioAED 780K · Mar 2019
507AED 787K · Jan 2019
1–7 of 21

516, MAG 318 Tower in numbers

  • Sold once: by MAG on 20 May 2019 for AED 803,500, or AED 1,821 per sqft.
  • Rented since April 2023 on 4 Ejari contracts, at AED 75,000 a year.
  • At AED 75,000 a year the gross yield on the 2019 price is 9.3%, before a service charge of about AED 10,200 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 11 April 2025.

Questions about 516, MAG 318 Tower

What did unit 516 last sell for?

AED 803,500 on 20 May 2019, sold by the developer: AED 1,821 per sqft for 441 sqft. It is the only registered sale of the unit.

What is the rent for unit 516?

AED 75,000 a year on the contract renewed on 11 April 2025. The previous contract, from April 2024, was AED 69,806; the unit has been rented since April 2023.

How big is unit 516?

441 sqft (41.0 sqm): a studio on the 5th floor of a 22-storey tower completed in 2020.

What is unit 516 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 516, MAG 318 Tower

Starts from the last sale price (AED 804K, 20 May 2019). Switch to today's estimate once you have unlocked it.
Price
AED 803,500
Deposit, UAE resident (20%)
AED 160,700
Deposit, non-resident (40%)
AED 321,400
Monthly over 25 years at 3.7%
AED 3,287

Plus AED 38,757 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →