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Studio · 441 sqftMAG 318 Tower, Business Bay · 10th floor · completed 2020

1022, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in October 2018, and rented once, from April 2023. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1022 · DLD and Ejari recordsUpdated 20 April 2023
Last soldAED 810K23 October 2018
Current rentAED 90K /yr20 April 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1022, MAG 318 Tower

What is 1022 worth today?

Last sold for AED 810,000 in 2018

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20 Apr 2023RentedNew contract
AED 90,000/yr12 months · AED 204 per sqft
23 Oct 2018Sold by developerOff-plan
AED 810,000AED 1,836 per sqft

Source: Dubai Land Department. Updated 20 April 2023.

Key facts

Type
Studio apartment
Size
441 sqft
Floor
10th of 22
Parking
P2-38
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 810K · October 2018
Building
MAG 318 Tower

About 1022, MAG 318 Tower

1022 is a studio of 441 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 23 October 2018 for AED 810,000, or AED 1,836 per sqft, in line with the AED 1,796 studios in the building were fetching at the time.

One Ejari contract is registered, from 20 April 2023. The current contract, signed on 20 April 2023, is AED 90,000 a year: a gross yield of 11.1% on the 2018 price, before the service charge of about AED 10,200 a year.

Sales and rents for 1022 over time

Sales
Unit 1022, 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, October 2018: AED 810,000 (AED 1,836 per sqft)

1022 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1022, each contractTypical studio in MAG 318 Tower
60K80K2021202320252027Typical 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, April 2023: AED 90,000 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 1022 sits

All 316 studios →

1022 last sold in October 2018 at AED 1,836 per sqft, in line with 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. 1022's AED 90,000 is in the upper 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
1004StudioAED 760K · Jul 2021
1005StudioAED 775K · Apr 2019
1006StudioAED 760K · May 2019
1007StudioAED 1M · Jan 2026
1–7 of 23

1022, MAG 318 Tower in numbers

  • Sold once: by MAG on 23 October 2018 for AED 810,000, or AED 1,836 per sqft.
  • Rented since April 2023 on one Ejari contract, at AED 90,000 a year.
  • At AED 90,000 a year the gross yield on the 2018 price is 11.1%, before a service charge of about AED 10,200 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 20 April 2023.

Questions about 1022, MAG 318 Tower

What did unit 1022 last sell for?

AED 810,000 on 23 October 2018, sold by the developer: AED 1,836 per sqft for 441 sqft. It is the only registered sale of the unit.

What is the rent for unit 1022?

AED 90,000 a year on the contract signed on 20 April 2023.

How big is unit 1022?

441 sqft (41.0 sqm): a studio on the 10th floor of a 22-storey tower completed in 2020.

What is unit 1022 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 1022, MAG 318 Tower

Starts from the last sale price (AED 810K, 23 October 2018). Switch to today's estimate once you have unlocked it.
Price
AED 810,000
Deposit, UAE resident (20%)
AED 162,000
Deposit, non-resident (40%)
AED 324,000
Monthly over 25 years at 3.7%
AED 3,314

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