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

1009, MAG 318 Tower

Sold prices and rental history: sold twice, last in November 2023, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1009 · DLD and Ejari recordsUpdated 13 November 2023
Last soldAED 1M13 November 2023
Current rentAED 68K /yr8 November 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1009, MAG 318 Tower

What is 1009 worth today?

Last sold for AED 1,000,000 in 2023

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13 Nov 2023SoldReady
AED 1,000,000AED 2,311 per sqft
8 Nov 2022RentedNew contract
AED 68,000/yr12 months · AED 157 per sqft
3 Nov 2021RentedNew contract
AED 55,000/yr12 months · AED 128 per sqft
30 Sep 2018Sold by developerOff-plan
AED 793,000AED 1,833 per sqft

Source: Dubai Land Department. Updated 13 November 2023.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
10th of 22
Parking
P2-27
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 1M · November 2023
Building
MAG 318 Tower

About 1009, MAG 318 Tower

1009 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. It last sold on 13 November 2023 for AED 1,000,000, or AED 2,311 per sqft, 7% above the AED 2,154 studios in the building were fetching at the time.

It has been rented since 2021 on 2 Ejari contracts. The current contract, signed on 8 November 2022, is AED 68,000 a year: a gross yield of 6.8% on the 2023 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1009 over time

Sales
Unit 1009, 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, September 2018: AED 793,000 (AED 1,833 per sqft)Sold, November 2023: AED 1,000,000 (AED 2,311 per sqft)

1009 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1009, 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, November 2021: AED 55,000 a yearNew contract, November 2022: 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 1009 sits

All 316 studios →

1009 last sold in November 2023 at AED 2,311 per sqft, 7% above what studios in MAG 318 Tower were fetching at the time (AED 2,154). 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. 1009's AED 68,000 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 78K /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
1004StudioAED 760K · Jul 2021
1005StudioAED 775K · Apr 2019
1006StudioAED 760K · May 2019
1007StudioAED 1M · Jan 2026
1–7 of 23

1009, MAG 318 Tower in numbers

  • Sold twice: first on 30 September 2018 for AED 793,000, last on 13 November 2023 for AED 1,000,000 (AED 2,311 per sqft).
  • Rented since November 2021 on 2 Ejari contracts, from AED 55,000 to AED 68,000 a year.
  • At AED 68,000 a year the gross yield on the 2023 price is 6.8%, 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 13 November 2023.

Questions about 1009, MAG 318 Tower

What did unit 1009 last sell for?

AED 1,000,000 on 13 November 2023: AED 2,311 per sqft for 433 sqft. The unit has 2 registered sales; the first was AED 793,000 in September 2018.

What is the rent for unit 1009?

AED 68,000 a year on the contract signed on 8 November 2022. The previous contract, from November 2021, was AED 55,000.

How big is unit 1009?

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

What is unit 1009 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 1009, MAG 318 Tower

Starts from the last sale price (AED 1M, 13 November 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,000,000
Deposit, UAE resident (20%)
AED 200,000
Deposit, non-resident (40%)
AED 400,000
Monthly over 25 years at 3.7%
AED 4,091

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