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2-bed · 967 sqftMAG 318 Tower, Business Bay · 15th floor · completed 2020

1502, MAG 318 Tower

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

Unit 1502 · DLD and Ejari recordsUpdated 26 August 2024
Last soldAED 1.88M13 August 2024
Current rentAED 120K /yr26 August 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1502, MAG 318 Tower

What is 1502 worth today?

Last sold for AED 1,880,000 in 2024

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26 Aug 2024RentedNew contract
AED 120,000/yr12 months · AED 124 per sqft
13 Aug 2024SoldReady
AED 1,880,000AED 1,944 per sqft
26 Aug 2023RentedRenewal
AED 120,000/yr12 months · AED 124 per sqft
26 Aug 2022RentedNew contract
AED 115,500/yr12 months · AED 119 per sqft
23 Aug 2021RentedNew contract
AED 105,000/yr12 months · AED 109 per sqft
5 Jan 2021Sold by developerReady
AED 1,870,784AED 1,934 per sqft

Source: Dubai Land Department. Updated 26 August 2024.

Key facts

Type
2-bed apartment
Size
967 sqft
Floor
15th of 22
Parking
P1-71 , P1-78
Developer
MAG
Completed
2020
Service charge
AED 22,300 /yr
Last sold
AED 1.88M · August 2024
Building
MAG 318 Tower

About 1502, MAG 318 Tower

1502 is a two-bedroom apartment of 967 sqft on the 15th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 13 August 2024 for AED 1,880,000, or AED 1,944 per sqft.

It has been rented continuously since 2021 on 4 Ejari contracts. The current contract, signed on 26 August 2024, is AED 120,000 a year: a gross yield of 6.4% on the 2024 price, before the service charge of about AED 22,300 a year.

Sales and rents for 1502 over time

Sales
Unit 1502, each saleTypical two-bed in MAG 318 Tower
1.5M2M2018202120242027Typical sale price by year: 2018 AED 1,781,294; 2019 AED 1,782,000; 2020 AED 2,250,000; 2021 AED 1,855,087; 2022 AED 1,357,005; 2024 AED 2,120,000; 2025 AED 2,100,000; 2026 AED 2,000,000Sold by developer, January 2021: AED 1,870,784 (AED 1,934 per sqft)Sold, August 2024: AED 1,880,000 (AED 1,944 per sqft)

1502 has sold twice; the dashed line is the two-bed median of each year in the building.

Rents
Unit 1502, each contractTypical two-bed in MAG 318 Tower
100K125K150K2021202320252027Typical rent by year: 2021 AED 100,000; 2022 AED 120,000; 2023 AED 125,000; 2024 AED 143,000; 2025 AED 145,000; 2026 AED 136,764New contract, August 2021: AED 105,000 a yearNew contract, August 2022: AED 115,500 a yearRenewal, August 2023: AED 120,000 a yearNew contract, August 2024: AED 120,000 a year

Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.

2-beds in MAG 318 Tower, and where 1502 sits

All 75 2-beds →

Over the last 12 months two-beds sold for AED 2,000,000 to 2,800,000, around AED 2,068 per sqft, and rent for AED 85,000 to 166,000 a year. 1502's AED 120,000 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
16 Sep 20262,000,000
14 Sep 20262,800,000
12 Feb 20262,000,000
29 Aug 20252,250,000
3 2-bed 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 15th floor

All 439 units in MAG 318 Tower
Value
15011-bedAED 1.5M · Nov 2019
1503StudioAED 760K · May 2019
1504StudioAED 1.08M · Nov 2025
1505StudioAED 1M · Apr 2024
1506StudioAED 890K · Mar 2023
1507StudioAED 823K · Feb 2019
1508StudioAED 750K · Oct 2021
1–7 of 23

1502, MAG 318 Tower in numbers

  • Sold twice: first on 5 January 2021 for AED 1,870,784, last on 13 August 2024 for AED 1,880,000 (AED 1,944 per sqft).
  • Rented since August 2021 on 4 Ejari contracts, from AED 105,000 to AED 120,000 a year.
  • At AED 120,000 a year the gross yield on the 2024 price is 6.4%, before a service charge of about AED 22,300 a year (AED 23.06 per sqft).
  • Two-beds in MAG 318 Tower sold for AED 2,000,000–2,800,000 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 26 August 2024.

Questions about 1502, MAG 318 Tower

What did unit 1502 last sell for?

AED 1,880,000 on 13 August 2024: AED 1,944 per sqft for 967 sqft. The unit has 2 registered sales; the first was AED 1,870,784 in January 2021.

What is the rent for unit 1502?

AED 120,000 a year on the contract signed on 26 August 2024. The previous contract, from August 2023, was AED 120,000; the unit has been rented since August 2021.

How big is unit 1502?

967 sqft (89.8 sqm): a two-bedroom apartment on the 15th floor of a 22-storey tower completed in 2020.

What is unit 1502 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in MAG 318 Tower sold for AED 2,000,000 to 2,800,000 in the last 12 months, around AED 2,068 per sqft.

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Mortgage on 1502, MAG 318 Tower

Starts from the last sale price (AED 1.88M, 13 August 2024). Switch to today's estimate once you have unlocked it.
Price
AED 1,880,000
Deposit, UAE resident (20%)
AED 376,000
Deposit, non-resident (40%)
AED 752,000
Monthly over 25 years at 3.7%
AED 7,692

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