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Studio · 438 sqftMAG 318 Tower, Business Bay · 10th floor · completed 2020

1003, MAG 318 Tower

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

Unit 1003 · DLD and Ejari recordsUpdated 25 July 2022
Last soldAED 760K20 February 2019
Current rentAED 57K /yr25 July 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1003, MAG 318 Tower

What is 1003 worth today?

Last sold for AED 760,000 in 2019

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25 Jul 2022RentedRenewal
AED 57,000/yr12 months · AED 130 per sqft
25 Jul 2021RentedNew contract
AED 52,000/yr12 months · AED 119 per sqft
20 Feb 2019Sold by developerOff-plan
AED 760,000AED 1,734 per sqft

Source: Dubai Land Department. Updated 25 July 2022.

Key facts

Type
Studio apartment
Size
438 sqft
Floor
10th of 22
Parking
P2-21
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 760K · February 2019
Building
MAG 318 Tower

About 1003, MAG 318 Tower

1003 is a studio of 438 sqft on the 10th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 20 February 2019 for AED 760,000, or AED 1,734 per sqft, 3% below the AED 1,796 studios in the building were fetching at the time.

It has been rented since 2021 on 2 Ejari contracts. The current contract, renewed on 25 July 2022, is AED 57,000 a year: a gross yield of 7.5% on the 2019 price, before the service charge of about AED 10,100 a year.

Sales and rents for 1003 over time

Sales
Unit 1003, each saleTypical studio in MAG 318 Tower
800K1M2017202020232026Typical sale price by year: 2017 AED 776,165; 2018 AED 787,488; 2019 AED 791,651; 2020 AED 870,514; 2021 AED 750,000; 2022 AED 850,000; 2023 AED 945,000; 2024 AED 1,030,000; 2025 AED 1,077,500; 2026 AED 995,000Sold by developer, February 2019: AED 760,000 (AED 1,734 per sqft)

1003 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1003, each contractTypical studio in MAG 318 Tower
60K2021202320252027Typical rent by year: 2021 AED 52,000; 2022 AED 64,465; 2023 AED 70,000; 2024 AED 75,000; 2025 AED 75,000; 2026 AED 60,000New contract, July 2021: AED 52,000 a yearRenewal, July 2022: AED 57,000 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 1003 sits

All 316 studios →

1003 last sold in February 2019 at AED 1,734 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 850,000 to 1,160,000, around AED 2,387 per sqft, and rent for AED 50,000 to 120,000 a year. 1003's AED 57,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
22 Oct 2026850,000
27 Aug 2026920,000
7 Aug 2026850,000
21 Jul 2026850,000
21 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. 27 sold in the last 12 months.

Typical price per sqft
AED 2,286 Down 5.7%
Typical sale
AED 1.08M
Typical rent
AED 79K /yr
Typical yield
6.1%
MAG 318 Tower, Business Bay: prices, sales and rents →

Other units on the 10th floor

All 439 units in MAG 318 Tower
Value
10011-bedAED 1.53M · Jan 2021
10022-bedAED 1.85M · Jan 2021
1004StudioAED 760K · Jul 2021
1005StudioAED 775K · Apr 2019
1006StudioAED 760K · May 2019
1007StudioAED 1M · Jan 2026
1008StudioAED 780K · Apr 2019
1–7 of 23

1003, MAG 318 Tower in numbers

  • Sold once: by MAG on 20 February 2019 for AED 760,000, or AED 1,734 per sqft.
  • Rented since July 2021 on 2 Ejari contracts, from AED 52,000 to AED 57,000 a year.
  • At AED 57,000 a year the gross yield on the 2019 price is 7.5%, before a service charge of about AED 10,100 a year (AED 23.06 per sqft).
  • Studios in MAG 318 Tower sold for AED 850,000–1,160,000 in the 12 months to November 2026; the building's median across all types is AED 2,286 per sqft.

Source: Dubai Land Department. Updated 25 July 2022.

Questions about 1003, MAG 318 Tower

What did unit 1003 last sell for?

AED 760,000 on 20 February 2019, sold by the developer: AED 1,734 per sqft for 438 sqft. It is the only registered sale of the unit.

What is the rent for unit 1003?

AED 57,000 a year on the contract renewed on 25 July 2022. The previous contract, from July 2021, was AED 52,000.

How big is unit 1003?

438 sqft (40.7 sqm): a studio on the 10th floor of a 22-storey tower completed in 2020.

What is unit 1003 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 850,000 to 1,160,000 in the last 12 months, around AED 2,387 per sqft.

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Mortgage on 1003, MAG 318 Tower

Starts from the last sale price (AED 760K, 20 February 2019). Switch to today's estimate once you have unlocked it.
Price
AED 760,000
Deposit, UAE resident (20%)
AED 152,000
Deposit, non-resident (40%)
AED 304,000
Monthly over 25 years at 3.7%
AED 3,109

Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →