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Studio · 438 sqftMAG 318 Tower, Business Bay · 9th floor · completed 2020

903, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in January 2019, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 903 · DLD and Ejari recordsUpdated 1 October 2024
Last soldAED 753K13 January 2019
Current rentAED 68K /yr1 October 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 903, MAG 318 Tower

What is 903 worth today?

Last sold for AED 752,500 in 2019

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1 Oct 2024RentedRenewal
AED 68,000/yr12 months · AED 154 per sqft
1 Apr 2023RentedRenewal
AED 59,312/yr6 months · AED 134 per sqft
18 Jul 2021RentedNew contract
AED 48,000/yr12 months · AED 109 per sqft
13 Jan 2019Sold by developerOff-plan
AED 752,500AED 1,717 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 1 October 2024.

Key facts

Type
Studio apartment
Size
438 sqft
Floor
9th of 22
Parking
P2-01
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 753K · January 2019
Building
MAG 318 Tower

About 903, MAG 318 Tower

903 is a studio of 438 sqft on the 9th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 13 January 2019 for AED 752,500, or AED 1,717 per sqft, 4% 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, renewed on 1 October 2024, is AED 68,000 a year: a gross yield of 9.0% on the 2019 price, before the service charge of about AED 10,100 a year.

Sales and rents for 903 over time

Sales
Unit 903, 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 2019: AED 752,500 (AED 1,717 per sqft)

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

Rents
Unit 903, 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, July 2021: AED 48,000 a yearRenewal, April 2023: AED 59,312 a yearRenewal, October 2024: AED 68,000 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 903 sits

All 299 studios →

903 last sold in January 2019 at AED 1,717 per sqft, 4% 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. 903's AED 68,000 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 9th floor

All 439 units in MAG 318 Tower
Value
9011-bedAED 1.52M · Sep 2020
9022-bedAED 1.78M · Jul 2018
904StudioAED 945K · Dec 2023
905StudioAED 763K · Dec 2017
906StudioAED 794K · May 2018
907StudioAED 684K · Sep 2021
908StudioAED 779K · Sep 2020
1–7 of 23

903, MAG 318 Tower in numbers

  • Sold once: by MAG on 13 January 2019 for AED 752,500, or AED 1,717 per sqft.
  • Rented since July 2021 on 3 Ejari contracts, from AED 48,000 to AED 68,000 a year.
  • At AED 68,000 a year the gross yield on the 2019 price is 9.0%, before a service charge of about AED 10,100 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 1 October 2024.

Questions about 903, MAG 318 Tower

What did unit 903 last sell for?

AED 752,500 on 13 January 2019, sold by the developer: AED 1,717 per sqft for 438 sqft. It is the only registered sale of the unit.

What is the rent for unit 903?

AED 68,000 a year on the contract renewed on 1 October 2024. The previous contract, from April 2023, was AED 59,312; the unit has been rented since July 2021.

How big is unit 903?

438 sqft (40.7 sqm): a studio on the 9th floor of a 22-storey tower completed in 2020.

What is unit 903 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 903, MAG 318 Tower

Starts from the last sale price (AED 753K, 13 January 2019). Switch to today's estimate once you have unlocked it.
Price
AED 752,500
Deposit, UAE resident (20%)
AED 150,500
Deposit, non-resident (40%)
AED 301,000
Monthly over 25 years at 3.7%
AED 3,079

Plus AED 36,615 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →