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Studio · 446 sqftMAG 318 Tower, Business Bay · 5th floor · completed 2020

521, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in January 2018, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 521 · DLD and Ejari recordsUpdated 18 May 2022
Last soldAED 775K4 January 2018
Current rentAED 60K /yr18 May 2022
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 521, MAG 318 Tower

What is 521 worth today?

Last sold for AED 774,600 in 2018

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18 May 2022RentedNew contract
AED 60,000/yr12 months · AED 136 per sqft
6 May 2021RentedNew contract
AED 43,000/yr12 months · AED 97 per sqft
4 Jan 2018Sold by developerOff-plan
AED 774,600AED 1,735 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 18 May 2022.

Key facts

Type
Studio apartment
Size
446 sqft
Floor
5th of 22
Parking
P3-29
Developer
MAG
Completed
2020
Service charge
AED 10,300 /yr
Last sold
AED 775K · January 2018
Building
MAG 318 Tower

About 521, MAG 318 Tower

521 is a studio of 446 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 4 January 2018 for AED 774,600, or AED 1,735 per sqft, in line with the AED 1,767 studios in the building were fetching at the time.

It has been rented since 2021 on 2 Ejari contracts. The current contract, signed on 18 May 2022, is AED 60,000 a year: a gross yield of 7.8% on the 2018 price, before the service charge of about AED 10,300 a year.

Sales and rents for 521 over time

Sales
Unit 521, 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 2018: AED 774,600 (AED 1,735 per sqft)

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

Rents
Unit 521, each contractTypical studio in MAG 318 Tower
40K60K80K2021202320252027Typical 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, May 2021: AED 43,000 a yearNew contract, May 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 521 sits

All 299 studios →

521 last sold in January 2018 at AED 1,735 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,767). 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. 521'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 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

521, MAG 318 Tower in numbers

  • Sold once: by MAG on 4 January 2018 for AED 774,600, or AED 1,735 per sqft.
  • Rented since May 2021 on 2 Ejari contracts, from AED 43,000 to AED 60,000 a year.
  • At AED 60,000 a year the gross yield on the 2018 price is 7.8%, before a service charge of about AED 10,300 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 18 May 2022.

Questions about 521, MAG 318 Tower

What did unit 521 last sell for?

AED 774,600 on 4 January 2018, sold by the developer: AED 1,735 per sqft for 446 sqft. It is the only registered sale of the unit.

What is the rent for unit 521?

AED 60,000 a year on the contract signed on 18 May 2022. The previous contract, from May 2021, was AED 43,000.

How big is unit 521?

446 sqft (41.4 sqm): a studio on the 5th floor of a 22-storey tower completed in 2020.

What is unit 521 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 521, MAG 318 Tower

Starts from the last sale price (AED 775K, 4 January 2018). Switch to today's estimate once you have unlocked it.
Price
AED 774,600
Deposit, UAE resident (20%)
AED 154,920
Deposit, non-resident (40%)
AED 309,840
Monthly over 25 years at 3.7%
AED 3,169

Plus AED 37,543 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →