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2-bed · 1,042 sqftMAG 318 Tower, Business Bay · 5th floor · completed 2020

522, MAG 318 Tower

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

Unit 522 · DLD and Ejari recordsUpdated 6 November 2024
Last soldAED 1.86M5 January 2021
Current rentAED 135K /yr6 November 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 522, MAG 318 Tower

What is 522 worth today?

Last sold for AED 1,856,292 in 2021

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6 Nov 2024RentedRenewal
AED 135,000/yr2 months · AED 130 per sqft
6 Nov 2023RentedNew contract
AED 135,000/yr12 months · AED 130 per sqft
1 Sep 2022RentedNew contract
AED 120,000/yr12 months · AED 115 per sqft
15 Jul 2021RentedNew contract
AED 109,000/yr12 months · AED 105 per sqft
5 Jan 2021Sold by developerReady
AED 1,856,292AED 1,782 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 6 November 2024.

Key facts

Type
2-bed apartment
Size
1,042 sqft
Floor
5th of 22
Parking
P3-30
Developer
MAG
Completed
2020
Service charge
AED 24,000 /yr
Last sold
AED 1.86M · January 2021
Building
MAG 318 Tower

About 522, MAG 318 Tower

522 is a two-bedroom apartment of 1,042 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 5 January 2021 for AED 1,856,292, or AED 1,782 per sqft, 18% below the AED 2,160 two-beds in the building were fetching at the time.

It has been rented continuously since 2021 on 4 Ejari contracts. The current contract, renewed on 6 November 2024, is AED 135,000 a year: a gross yield of 7.3% on the 2021 price, before the service charge of about AED 24,000 a year.

Sales and rents for 522 over time

Sales
Unit 522, each saleTypical two-bed in MAG 318 Tower
1.5M2M20182020202220242026Typical sale price by year: 2018 AED 1,781,294; 2019 AED 1,773,725; 2020 AED 2,250,000; 2021 AED 1,855,087; 2022 AED 1,357,005; 2024 AED 2,120,000; 2025 AED 2,050,000Sold by developer, January 2021: AED 1,856,292 (AED 1,782 per sqft)

522 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 522, each contractTypical two-bed in MAG 318 Tower
100K125K150K2021202320252027Typical rent by year: 2021 AED 101,000; 2022 AED 120,000; 2023 AED 125,500; 2024 AED 143,000; 2025 AED 144,225; 2026 AED 155,000New contract, July 2021: AED 109,000 a yearNew contract, September 2022: AED 120,000 a yearNew contract, November 2023: AED 135,000 a yearRenewal, November 2024: AED 135,000 a year

Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.

2-beds in MAG 318 Tower, and where 522 sits

All 73 2-beds →

522 last sold in January 2021 at AED 1,782 per sqft, 18% below what two-beds in MAG 318 Tower were fetching at the time (AED 2,160). Over the last 12 months two-beds sold for AED 2,000,000, around AED 2,068 per sqft, and rent for AED 85,000 to 160,000 a year. 522's AED 135,000 is in the upper half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
12 Feb 20262,000,000
21 Jul 20252,255,000
11 Apr 20252,050,000
18 Mar 20252,000,000
1 2-bed sale 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

522, MAG 318 Tower in numbers

  • Sold once: by MAG on 5 January 2021 for AED 1,856,292, or AED 1,782 per sqft.
  • Rented since July 2021 on 4 Ejari contracts, from AED 109,000 to AED 135,000 a year.
  • At AED 135,000 a year the gross yield on the 2021 price is 7.3%, before a service charge of about AED 24,000 a year (AED 23.06 per sqft).
  • Two-beds in MAG 318 Tower sold for AED 2,000,000–2,000,000 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 6 November 2024.

Questions about 522, MAG 318 Tower

What did unit 522 last sell for?

AED 1,856,292 on 5 January 2021, sold by the developer: AED 1,782 per sqft for 1,042 sqft. It is the only registered sale of the unit.

What is the rent for unit 522?

AED 135,000 a year on the contract renewed on 6 November 2024. The previous contract, from November 2023, was AED 135,000; the unit has been rented since July 2021.

How big is unit 522?

1,042 sqft (96.8 sqm): a two-bedroom apartment on the 5th floor of a 22-storey tower completed in 2020.

What is unit 522 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in MAG 318 Tower sold for AED 2,000,000 to 2,000,000 in the last 12 months, around AED 2,068 per sqft.

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Mortgage on 522, MAG 318 Tower

Starts from the last sale price (AED 1.86M, 5 January 2021). Switch to today's estimate once you have unlocked it.
Price
AED 1,856,292
Deposit, UAE resident (20%)
AED 371,258
Deposit, non-resident (40%)
AED 742,517
Monthly over 25 years at 3.7%
AED 7,595

Plus AED 82,975 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →