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Studio · 433 sqftMAG 318 Tower, Business Bay · 10th floor · completed 2020

1004, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in July 2021, and rented once, from August 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1004 · DLD and Ejari recordsUpdated 1 August 2022
Last soldAED 760K7 July 2021
Current rentAED 70K /yr1 August 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1004, MAG 318 Tower

What is 1004 worth today?

Last sold for AED 760,000 in 2021

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1 Aug 2022RentedNew contract
AED 70,000/yr12 months · AED 163 per sqft
7 Jul 2021Sold by developerReady
AED 760,000AED 1,755 per sqft

Source: Dubai Land Department. Updated 1 August 2022.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
10th of 22
Parking
P2-22
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 760K · July 2021
Building
MAG 318 Tower

About 1004, MAG 318 Tower

1004 is a studio of 433 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 7 July 2021 for AED 760,000, or AED 1,755 per sqft, 12% below the AED 1,993 studios in the building were fetching at the time.

One Ejari contract is registered, from 1 August 2022. The current contract, signed on 1 August 2022, is AED 70,000 a year: a gross yield of 9.2% on the 2021 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1004 over time

Sales
Unit 1004, 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, July 2021: AED 760,000 (AED 1,755 per sqft)

1004 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1004, 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, August 2022: 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 1004 sits

All 316 studios →

1004 last sold in July 2021 at AED 1,755 per sqft, 12% below what studios in MAG 318 Tower were fetching at the time (AED 1,993). 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. 1004's AED 70,000 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
1003StudioAED 760K · Feb 2019
1005StudioAED 775K · Apr 2019
1006StudioAED 760K · May 2019
1007StudioAED 1M · Jan 2026
1008StudioAED 780K · Apr 2019
1–7 of 23

1004, MAG 318 Tower in numbers

  • Sold once: by MAG on 7 July 2021 for AED 760,000, or AED 1,755 per sqft.
  • Rented since August 2022 on one Ejari contract, at AED 70,000 a year.
  • At AED 70,000 a year the gross yield on the 2021 price is 9.2%, before a service charge of about AED 10,000 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 1 August 2022.

Questions about 1004, MAG 318 Tower

What did unit 1004 last sell for?

AED 760,000 on 7 July 2021, sold by the developer: AED 1,755 per sqft for 433 sqft. It is the only registered sale of the unit.

What is the rent for unit 1004?

AED 70,000 a year on the contract signed on 1 August 2022.

How big is unit 1004?

433 sqft (40.2 sqm): a studio on the 10th floor of a 22-storey tower completed in 2020.

What is unit 1004 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 1004, MAG 318 Tower

Starts from the last sale price (AED 760K, 7 July 2021). 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 →