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Studio · 432 sqftMAG 318 Tower, Business Bay · 10th floor · completed 2020

1010, MAG 318 Tower

Sold prices and rental history: sold twice, last in January 2024, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1010 · DLD and Ejari recordsUpdated 30 January 2024
Last soldAED 950K30 January 2024
Current rentAED 62K /yr30 August 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1010, MAG 318 Tower

What is 1010 worth today?

Last sold for AED 950,000 in 2024

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30 Jan 2024SoldReady
AED 950,000AED 2,199 per sqft
30 Aug 2023RentedRenewal
AED 62,000/yr12 months · AED 144 per sqft
30 Aug 2022RentedNew contract
AED 59,000/yr12 months · AED 137 per sqft
1 Jun 2021RentedNew contract
AED 45,000/yr12 months · AED 105 per sqft
5 Nov 2020Sold by developerOff-plan
AED 925,000AED 2,141 per sqft

Source: Dubai Land Department. Updated 30 January 2024.

Key facts

Type
Studio apartment
Size
432 sqft
Floor
10th of 22
Parking
P2-28
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 950K · January 2024
Building
MAG 318 Tower

About 1010, MAG 318 Tower

1010 is a studio of 432 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 30 January 2024 for AED 950,000, or AED 2,199 per sqft, in line with the AED 2,179 studios in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, renewed on 30 August 2023, is AED 62,000 a year: a gross yield of 6.5% on the 2024 price, before the service charge of about AED 10,000 a year.

Sales and rents for 1010 over time

Sales
Unit 1010, 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, November 2020: AED 925,000 (AED 2,141 per sqft)Sold, January 2024: AED 950,000 (AED 2,199 per sqft)

1010 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1010, each contractTypical studio in MAG 318 Tower
40K60K80K2021202320252027Typical 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, June 2021: AED 45,000 a yearNew contract, August 2022: AED 59,000 a yearRenewal, August 2023: AED 62,000 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 1010 sits

All 316 studios →

1010 last sold in January 2024 at AED 2,199 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 2,179). 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. 1010's AED 62,000 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

1010, MAG 318 Tower in numbers

  • Sold twice: first on 5 November 2020 for AED 925,000, last on 30 January 2024 for AED 950,000 (AED 2,199 per sqft).
  • Rented since June 2021 on 3 Ejari contracts, from AED 45,000 to AED 62,000 a year.
  • At AED 62,000 a year the gross yield on the 2024 price is 6.5%, 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 30 January 2024.

Questions about 1010, MAG 318 Tower

What did unit 1010 last sell for?

AED 950,000 on 30 January 2024: AED 2,199 per sqft for 432 sqft. The unit has 2 registered sales; the first was AED 925,000 in November 2020.

What is the rent for unit 1010?

AED 62,000 a year on the contract renewed on 30 August 2023. The previous contract, from August 2022, was AED 59,000; the unit has been rented since June 2021.

How big is unit 1010?

432 sqft (40.1 sqm): a studio on the 10th floor of a 22-storey tower completed in 2020.

What is unit 1010 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 1010, MAG 318 Tower

Starts from the last sale price (AED 950K, 30 January 2024). Switch to today's estimate once you have unlocked it.
Price
AED 950,000
Deposit, UAE resident (20%)
AED 190,000
Deposit, non-resident (40%)
AED 380,000
Monthly over 25 years at 3.7%
AED 3,887

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