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2-bed · 967 sqftMAG 318 Tower, Business Bay · 6th floor · completed 2020

611, MAG 318 Tower

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

Unit 611 · DLD and Ejari recordsUpdated 12 December 2022
Last soldAED 1.7M12 December 2022
Current rentAED 120K /yr25 January 2022
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 611, MAG 318 Tower

What is 611 worth today?

Last sold for AED 1,700,000 in 2022

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12 Dec 2022SoldReady
AED 1,700,000AED 1,758 per sqft
25 Jan 2022RentedNew contract
AED 120,000/yr12 months · AED 124 per sqft
26 Apr 2021Sold by developerReady
AED 1,605,313AED 1,660 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 12 December 2022.

Key facts

Type
2-bed apartment
Size
967 sqft
Floor
6th of 22
Parking
P3-41
Developer
MAG
Completed
2020
Service charge
AED 22,300 /yr
Last sold
AED 1.7M · December 2022
Building
MAG 318 Tower

About 611, MAG 318 Tower

611 is a two-bedroom apartment of 967 sqft on the 6th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 12 December 2022 for AED 1,700,000, or AED 1,758 per sqft, 27% above the AED 1,383 two-beds in the building were fetching at the time.

One Ejari contract is registered, from 25 January 2022. The current contract, signed on 25 January 2022, is AED 120,000 a year: a gross yield of 7.1% on the 2022 price, before the service charge of about AED 22,300 a year.

Sales and rents for 611 over time

Sales
Unit 611, 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, April 2021: AED 1,605,313 (AED 1,660 per sqft)Sold, December 2022: AED 1,700,000 (AED 1,758 per sqft)

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

Rents
Unit 611, 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, January 2022: AED 120,000 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 611 sits

All 73 2-beds →

611 last sold in December 2022 at AED 1,758 per sqft, 27% above what two-beds in MAG 318 Tower were fetching at the time (AED 1,383). 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. 611's AED 120,000 is in the lower 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 6th floor

All 439 units in MAG 318 Tower
Value
6011-bedAED 1.1M · Jul 2021
6022-bedAED 2.25M · Dec 2020
603StudioAED 756K · May 2018
604StudioAED 940K · Jun 2023
605StudioAED 1.08M · Dec 2020
606StudioAED 874K · Nov 2019
607StudioAED 775K · Jul 2018
1–7 of 21

611, MAG 318 Tower in numbers

  • Sold twice: first on 26 April 2021 for AED 1,605,313, last on 12 December 2022 for AED 1,700,000 (AED 1,758 per sqft).
  • Rented since January 2022 on one Ejari contract, at AED 120,000 a year.
  • At AED 120,000 a year the gross yield on the 2022 price is 7.1%, before a service charge of about AED 22,300 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 12 December 2022.

Questions about 611, MAG 318 Tower

What did unit 611 last sell for?

AED 1,700,000 on 12 December 2022: AED 1,758 per sqft for 967 sqft. The unit has 2 registered sales; the first was AED 1,605,313 in April 2021.

What is the rent for unit 611?

AED 120,000 a year on the contract signed on 25 January 2022.

How big is unit 611?

967 sqft (89.8 sqm): a two-bedroom apartment on the 6th floor of a 22-storey tower completed in 2020.

What is unit 611 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 611, MAG 318 Tower

Starts from the last sale price (AED 1.7M, 12 December 2022). Switch to today's estimate once you have unlocked it.
Price
AED 1,700,000
Deposit, UAE resident (20%)
AED 340,000
Deposit, non-resident (40%)
AED 680,000
Monthly over 25 years at 3.7%
AED 6,955

Plus AED 76,410 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →