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Studio · 433 sqftMAG 318 Tower, Business Bay · 8th floor · completed 2020

809, MAG 318 Tower

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

Unit 809 · DLD and Ejari recordsUpdated 1 December 2023
Last soldAED 752K9 May 2018
Current rentAED 70K /yr1 December 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 809, MAG 318 Tower

What is 809 worth today?

Last sold for AED 752,000 in 2018

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1 Dec 2023RentedNew contract
AED 70,000/yr12 months · AED 163 per sqft
1 Dec 2022RentedNew contract
AED 65,000/yr12 months · AED 151 per sqft
28 Nov 2021RentedNew contract
AED 65,000/yr12 months · AED 151 per sqft
9 May 2018Sold by developerOff-plan
AED 752,000AED 1,738 per sqft

Source: Dubai Land Department. Updated 1 December 2023.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
8th of 22
Parking
P3-93
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 752K · May 2018
Building
MAG 318 Tower

About 809, MAG 318 Tower

809 is a studio of 433 sqft on the 8th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 9 May 2018 for AED 752,000, or AED 1,738 per sqft, 3% below the AED 1,796 studios in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, signed on 1 December 2023, is AED 70,000 a year: a gross yield of 9.3% on the 2018 price, before the service charge of about AED 10,000 a year.

Sales and rents for 809 over time

Sales
Unit 809, 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 2018: AED 752,000 (AED 1,738 per sqft)

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

Rents
Unit 809, 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, November 2021: AED 65,000 a yearNew contract, December 2022: AED 65,000 a yearNew contract, December 2023: AED 70,000 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 809 sits

All 299 studios →

809 last sold in May 2018 at AED 1,738 per sqft, 3% below 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. 809's AED 70,000 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 1.4%
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 8th floor

All 439 units in MAG 318 Tower
Value
8011-bedAED 1.55M · Mar 2020
8022-bedAED 1.85M · Nov 2020
803StudioAED 780K · Nov 2018
804StudioAED 780K · Jun 2018
805StudioAED 780K · Sep 2018
806StudioAED 779K · Nov 2021
807StudioAED 753K · Jul 2018
1–7 of 23

809, MAG 318 Tower in numbers

  • Sold once: by MAG on 9 May 2018 for AED 752,000, or AED 1,738 per sqft.
  • Rented since November 2021 on 3 Ejari contracts, from AED 65,000 to AED 70,000 a year.
  • At AED 70,000 a year the gross yield on the 2018 price is 9.3%, before a service charge of about AED 10,000 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: Dubai Land Department. Updated 1 December 2023.

Questions about 809, MAG 318 Tower

What did unit 809 last sell for?

AED 752,000 on 9 May 2018, sold by the developer: AED 1,738 per sqft for 433 sqft. It is the only registered sale of the unit.

What is the rent for unit 809?

AED 70,000 a year on the contract signed on 1 December 2023. The previous contract, from December 2022, was AED 65,000; the unit has been rented since November 2021.

How big is unit 809?

433 sqft (40.2 sqm): a studio on the 8th floor of a 22-storey tower completed in 2020.

What is unit 809 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 809, MAG 318 Tower

Starts from the last sale price (AED 752K, 9 May 2018). Switch to today's estimate once you have unlocked it.
Price
AED 752,000
Deposit, UAE resident (20%)
AED 150,400
Deposit, non-resident (40%)
AED 300,800
Monthly over 25 years at 3.7%
AED 3,077

Plus AED 36,594 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →