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Studio · 436 sqftMAG 318 Tower, Business Bay · 16th floor · completed 2020

1611, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in December 2017, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1611 · DLD and Ejari recordsUpdated 13 May 2023
Last soldAED 776K10 December 2017
Current rentAED 67K /yr13 May 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1611, MAG 318 Tower

What is 1611 worth today?

Last sold for AED 776,165 in 2017

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13 May 2023RentedRenewal
AED 67,472/yr10 months · AED 153 per sqft
13 May 2023RentedRenewal
AED 67,472/yr10 months · AED 157 per sqft
13 May 2022RentedNew contract
AED 68,000/yr12 months · AED 154 per sqft
10 Dec 2017Sold by developerOff-plan
AED 776,165AED 1,780 per sqft

Source: Dubai Land Department. Updated 13 May 2023.

Key facts

Type
Studio apartment
Size
436 sqft
Floor
16th of 22
Parking
P1-76
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 776K · December 2017
Building
MAG 318 Tower

About 1611, MAG 318 Tower

1611 is a studio of 436 sqft on the 16th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 10 December 2017 for AED 776,165, or AED 1,780 per sqft, in line with the AED 1,785 studios in the building were fetching at the time.

It has been rented since 2022 on 3 Ejari contracts. The current contract, renewed on 13 May 2023, is AED 67,472 a year: a gross yield of 8.7% on the 2017 price, before the service charge of about AED 10,100 a year.

Sales and rents for 1611 over time

Sales
Unit 1611, 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, December 2017: AED 776,165 (AED 1,780 per sqft)

1611 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1611, each contractTypical studio in MAG 318 Tower
60K2021202320252027Typical 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, May 2022: AED 68,000 a yearRenewal, May 2023: AED 67,472 a yearRenewal, May 2023: AED 67,472 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 1611 sits

All 316 studios →

1611 last sold in December 2017 at AED 1,780 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,785). 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. 1611's AED 67,472 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 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
1603StudioAED 905K · Dec 2022
1604StudioAED 990K · Jul 2026
1605StudioAED 950K · Mar 2023
1606StudioAED 793K · Jan 2019
1607StudioAED 760K · Feb 2022
1–7 of 23

1611, MAG 318 Tower in numbers

  • Sold once: by MAG on 10 December 2017 for AED 776,165, or AED 1,780 per sqft.
  • Rented since May 2022 on 3 Ejari contracts, from AED 68,000 to AED 67,472 a year.
  • At AED 67,472 a year the gross yield on the 2017 price is 8.7%, 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 13 May 2023.

Questions about 1611, MAG 318 Tower

What did unit 1611 last sell for?

AED 776,165 on 10 December 2017, sold by the developer: AED 1,780 per sqft for 436 sqft. It is the only registered sale of the unit.

What is the rent for unit 1611?

AED 67,472 a year on the contract renewed on 13 May 2023. The previous contract, from May 2023, was AED 67,472; the unit has been rented since May 2022.

How big is unit 1611?

436 sqft (40.5 sqm): a studio on the 16th floor of a 22-storey tower completed in 2020.

What is unit 1611 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 1611, MAG 318 Tower

Starts from the last sale price (AED 776K, 10 December 2017). Switch to today's estimate once you have unlocked it.
Price
AED 776,165
Deposit, UAE resident (20%)
AED 155,233
Deposit, non-resident (40%)
AED 310,466
Monthly over 25 years at 3.7%
AED 3,176

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