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Studio · 438 sqftMAG 318 Tower, Business Bay · 16th floor · completed 2020

1603, MAG 318 Tower

Sold prices and rental history: sold twice, last in December 2022, and rented since 2025. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1603 · DLD and Ejari recordsUpdated 24 February 2026
Last soldAED 905K9 December 2022
Current rentAED 100K /yr24 February 2026
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1603, MAG 318 Tower

What is 1603 worth today?

Last sold for AED 905,000 in 2022

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24 Feb 2026RentedNew contract
AED 100,000/yr12 months · AED 227 per sqft
27 Jan 2025RentedNew contract
AED 75,000/yr12 months · AED 170 per sqft
9 Dec 2022SoldReady
AED 905,000AED 2,065 per sqft
30 Sep 2018Sold by developerOff-plan
AED 773,246AED 1,765 per sqft

Source: Dubai Land Department. Updated 24 February 2026.

Key facts

Type
Studio apartment
Size
438 sqft
Floor
16th of 22
Parking
P1-59
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 905K · December 2022
Building
MAG 318 Tower

About 1603, MAG 318 Tower

1603 is a studio of 438 sqft on the 16th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 9 December 2022 for AED 905,000, or AED 2,065 per sqft, 5% above the AED 1,960 studios in the building were fetching at the time.

It has been rented since 2025 on 2 Ejari contracts. The current contract, signed on 24 February 2026, is AED 100,000 a year: a gross yield of 11.1% on the 2022 price, before the service charge of about AED 10,100 a year.

Sales and rents for 1603 over time

Sales
Unit 1603, 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 773,246 (AED 1,765 per sqft)Sold, December 2022: AED 905,000 (AED 2,065 per sqft)

1603 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 1603, each contractTypical studio in MAG 318 Tower
50K75K100K2021202320252027Typical 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, January 2025: AED 75,000 a yearNew contract, February 2026: AED 100,000 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 1603 sits

All 316 studios →

1603 last sold in December 2022 at AED 2,065 per sqft, 5% above what studios in MAG 318 Tower were fetching at the time (AED 1,960). 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. 1603's AED 100,000 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 16th floor

All 439 units in MAG 318 Tower
Value
16011-bedAED 1.46M · Sep 2021
16022-bedAED 2.25M · Dec 2020
1604StudioAED 990K · Jul 2026
1605StudioAED 950K · Mar 2023
1606StudioAED 793K · Jan 2019
1607StudioAED 760K · Feb 2022
1608StudioAED 749K · Aug 2018
1–7 of 23

1603, MAG 318 Tower in numbers

  • Sold twice: first on 30 September 2018 for AED 773,246, last on 9 December 2022 for AED 905,000 (AED 2,065 per sqft).
  • Rented since January 2025 on 2 Ejari contracts, from AED 75,000 to AED 100,000 a year.
  • At AED 100,000 a year the gross yield on the 2022 price is 11.1%, 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 24 February 2026.

Questions about 1603, MAG 318 Tower

What did unit 1603 last sell for?

AED 905,000 on 9 December 2022: AED 2,065 per sqft for 438 sqft. The unit has 2 registered sales; the first was AED 773,246 in September 2018.

What is the rent for unit 1603?

AED 100,000 a year on the contract signed on 24 February 2026. The previous contract, from January 2025, was AED 75,000.

How big is unit 1603?

438 sqft (40.7 sqm): a studio on the 16th floor of a 22-storey tower completed in 2020.

What is unit 1603 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 1603, MAG 318 Tower

Starts from the last sale price (AED 905K, 9 December 2022). Switch to today's estimate once you have unlocked it.
Price
AED 905,000
Deposit, UAE resident (20%)
AED 181,000
Deposit, non-resident (40%)
AED 362,000
Monthly over 25 years at 3.7%
AED 3,703

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