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2-bed · 1,043 sqftMAG 318 Tower, Business Bay · 9th floor · completed 2020

924, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in November 2020, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 924 · DLD and Ejari recordsUpdated 25 June 2024
Last soldAED 2.14M4 November 2020
Current rentAED 110K /yr25 June 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 924, MAG 318 Tower

What is 924 worth today?

Last sold for AED 2,140,920 in 2020

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25 Jun 2024RentedRenewal
AED 110,000/yr12 months · AED 105 per sqft
25 Jun 2023RentedRenewal
AED 110,000/yr12 months · AED 105 per sqft
25 Jun 2021RentedNew contract
AED 102,000/yr12 months · AED 98 per sqft
4 Nov 2020Sold by developerOff-plan
AED 2,140,920AED 2,052 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 25 June 2024.

Key facts

Type
2-bed apartment
Size
1,043 sqft
Floor
9th of 22
Parking
P2-66 , P2-83
Developer
MAG
Completed
2020
Service charge
AED 24,100 /yr
Last sold
AED 2.14M · November 2020
Building
MAG 318 Tower

About 924, MAG 318 Tower

924 is a two-bedroom apartment of 1,043 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 4 November 2020 for AED 2,140,920, or AED 2,052 per sqft, 7% above the AED 1,919 two-beds in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, renewed on 25 June 2024, is AED 110,000 a year: a gross yield of 5.1% on the 2020 price, before the service charge of about AED 24,100 a year.

Sales and rents for 924 over time

Sales
Unit 924, 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, November 2020: AED 2,140,920 (AED 2,052 per sqft)

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

Rents
Unit 924, 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, June 2021: AED 102,000 a yearRenewal, June 2023: AED 110,000 a yearRenewal, June 2024: AED 110,000 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 924 sits

All 73 2-beds →

924 last sold in November 2020 at AED 2,052 per sqft, 7% above what two-beds in MAG 318 Tower were fetching at the time (AED 1,919). 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. 924's AED 110,000 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 9th floor

All 439 units in MAG 318 Tower
Value
9011-bedAED 1.52M · Sep 2020
9022-bedAED 1.78M · Jul 2018
903StudioAED 753K · Jan 2019
904StudioAED 945K · Dec 2023
905StudioAED 763K · Dec 2017
906StudioAED 794K · May 2018
907StudioAED 684K · Sep 2021
1–7 of 23

924, MAG 318 Tower in numbers

  • Sold once: by MAG on 4 November 2020 for AED 2,140,920, or AED 2,052 per sqft.
  • Rented since June 2021 on 3 Ejari contracts, from AED 102,000 to AED 110,000 a year.
  • At AED 110,000 a year the gross yield on the 2020 price is 5.1%, before a service charge of about AED 24,100 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 25 June 2024.

Questions about 924, MAG 318 Tower

What did unit 924 last sell for?

AED 2,140,920 on 4 November 2020, sold by the developer: AED 2,052 per sqft for 1,043 sqft. It is the only registered sale of the unit.

What is the rent for unit 924?

AED 110,000 a year on the contract renewed on 25 June 2024. The previous contract, from June 2023, was AED 110,000; the unit has been rented since June 2021.

How big is unit 924?

1,043 sqft (96.9 sqm): a two-bedroom apartment on the 9th floor of a 22-storey tower completed in 2020.

What is unit 924 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 924, MAG 318 Tower

Starts from the last sale price (AED 2.14M, 4 November 2020). Switch to today's estimate once you have unlocked it.
Price
AED 2,140,920
Deposit, UAE resident (20%)
AED 428,184
Deposit, non-resident (40%)
AED 856,368
Monthly over 25 years at 3.7%
AED 8,759

Plus AED 94,929 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →