1516, MAG 318 Tower
Sold prices and rental history: sold twice, last in April 2021, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 1516, MAG 318 Tower
What is 1516 worth today?
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Source: Dubai Land Department. Updated 14 January 2026.
Key facts
- Type
- Studio apartment
- Size
- 440 sqft
- Floor
- 15th of 22
- Parking
- P1-48
- Developer
- MAG
- Completed
- 2020
- Service charge
- AED 10,100 /yr
- Last sold
- AED 700K · April 2021
- Building
- MAG 318 Tower
About 1516, MAG 318 Tower
1516 is a studio of 440 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 27 April 2021 for AED 700,000, or AED 1,590 per sqft, 20% below the AED 1,993 studios in the building were fetching at the time.
It has been rented continuously since 2021 on 5 Ejari contracts. The current contract, signed on 14 January 2026, is AED 80,000 a year: a gross yield of 11.4% on the 2021 price, before the service charge of about AED 10,100 a year.
Sales and rents for 1516 over time
1516 has sold twice; the dashed line is the studio median of each year in the building.
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 1516 sits
All 316 studios →1516 last sold in April 2021 at AED 1,590 per sqft, 20% 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. 1516's AED 80,000 is in the lower half of that range.
| Recent studio sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 22 Oct 202622 October 2026 | 432 sqft | 850,000 | 1,968 | ||
| 27 Aug 202627 August 2026 | 433 sqft | 920,000 | 2,125 | ||
| 7 Aug 20267 August 2026 | 440 sqft | 850,000 | 1,932 | ||
| 21 Jul 202621 July 2026 | 441 sqft | 850,000 | 1,926 |
MAG 318 Tower
Building439 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%
Other units on the 15th floor
All 439 units in MAG 318 Tower| ValueToday's value | |||||
|---|---|---|---|---|---|
| 1501 | 1-bed | 819 sqft | AED 1.5MAED 1,495,134 · Nov 2019November 2019 | 95,000 /yr | |
| 1502 | 2-bed | 967 sqft | AED 1.88MAED 1,880,000 · Aug 2024August 2024 | 120,000 /yr | |
| 1503 | Studio | 438 sqft | AED 760KAED 760,000 · May 2019May 2019 | ||
| 1504 | Studio | 433 sqft | AED 1.08MAED 1,075,000 · Nov 2025November 2025 | 70,803 /yr | |
| 1505 | Studio | 432 sqft | AED 1MAED 1,000,000 · Apr 2024April 2024 | 75,000 /yr | |
| 1506 | Studio | 433 sqft | AED 890KAED 890,000 · Mar 2023March 2023 | 78,750 /yr | |
| 1507 | Studio | 432 sqft | AED 823KAED 823,239 · Feb 2019February 2019 | 55,000 /yr | |
| 1508 | Studio | 433 sqft | AED 750KAED 750,000 · Oct 2021October 2021 | 78,000 /yr | |
| 1509 | Studio | 433 sqft | AED 970KAED 970,000 · Mar 2024March 2024 | 55,000 /yr | |
| 1510 | Studio | 432 sqft | AED 1.05MAED 1,050,000 · Apr 2024April 2024 | 55,000 /yr | |
| 1511 | Studio | 436 sqft | AED 920KAED 920,000 · Aug 2023August 2023 | 80,000 /yr | |
| 1512 | 2-bed | 966 sqft | AED 2.25MAED 2,250,000 · Dec 2020December 2020 | 160,000 /yr | |
| 1513 | 1-bed | 982 sqft | AED 2.05MAED 2,050,000 · Dec 2020December 2020 | 135,000 /yr | |
| 1514 | 2-bed | 1,045 sqft | AED 2.25MAED 2,250,000 · Dec 2020December 2020 | 130,000 /yr | |
| 1515 | Studio | 444 sqft | AED 821KAED 820,710 · Jan 2022January 2022 | 65,000 /yr | |
| 1517 | Studio | 441 sqft | AED 895KAED 894,600 · Mar 2026March 2026 | 55,000 /yr | |
| 1518 | Studio | 441 sqft | AED 792KAED 792,308 · Nov 2019November 2019 | 57,000 /yr | |
| 1519 | Studio | 440 sqft | AED 845KAED 844,779 · Nov 2018November 2018 | 80,000 /yr | |
| 1520 | Studio | 441 sqft | AED 883KAED 882,509 · Nov 2019November 2019 | 76,500 /yr | |
| 1521 | Studio | 440 sqft | AED 1.13MAED 1,125,000 · May 2025May 2025 | ||
| 1522 | Studio | 441 sqft | AED 1.04MAED 1,040,000 · Apr 2025April 2025 | ||
| 1523 | Studio | 446 sqft | AED 1.04MAED 1,040,000 · Feb 2025February 2025 | ||
| 1524 | 2-bed | 1,043 sqft | AED 2.25MAED 2,250,000 · Aug 2025August 2025 | 150,000 /yr |
1516, MAG 318 Tower in numbers
- Sold twice: first on 30 September 2018 for AED 840,360, last on 27 April 2021 for AED 700,000 (AED 1,590 per sqft).
- Rented since December 2021 on 5 Ejari contracts, from AED 58,125 to AED 80,000 a year.
- At AED 80,000 a year the gross yield on the 2021 price is 11.4%, before a service charge of about AED 10,100 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 14 January 2026.
Questions about 1516, MAG 318 Tower
What did unit 1516 last sell for?
AED 700,000 on 27 April 2021: AED 1,590 per sqft for 440 sqft. The unit has 2 registered sales; the first was AED 840,360 in September 2018.
What is the rent for unit 1516?
AED 80,000 a year on the contract signed on 14 January 2026. The previous contract, from January 2025, was AED 81,000; the unit has been rented since December 2021.
How big is unit 1516?
440 sqft (40.9 sqm): a studio on the 15th floor of a 22-storey tower completed in 2020.
What is unit 1516 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 1516, MAG 318 Tower
Starts from the last sale price (AED 700K, 27 April 2021). Switch to today's estimate once you have unlocked it.- Price
- AED 700,000
- Deposit, UAE resident (20%)
- AED 140,000
- Deposit, non-resident (40%)
- AED 280,000
- Monthly over 25 years at 3.7%
- AED 2,864
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →