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Studio · 440 sqftMAG 318 Tower, Business Bay · 16th floor · completed 2020

1616, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in May 2019, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1616 · DLD and Ejari recordsUpdated 22 October 2025
Last soldAED 800K27 May 2019
Current rentAED 80K /yr22 October 2025
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1616, MAG 318 Tower

What is 1616 worth today?

Last sold for AED 800,392 in 2019

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22 Oct 2025RentedNew contract
AED 80,000/yr12 months · AED 181 per sqft
1 Oct 2024RentedNew contract
AED 75,000/yr12 months · AED 170 per sqft
1 Oct 2023RentedNew contract
AED 74,000/yr12 months · AED 168 per sqft
20 Aug 2021RentedNew contract
AED 48,000/yr12 months · AED 109 per sqft
27 May 2019Sold by developerOff-plan
AED 800,392AED 1,818 per sqft

Source: Dubai Land Department. Updated 22 October 2025.

Key facts

Type
Studio apartment
Size
440 sqft
Floor
16th of 22
Parking
P1-90
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 800K · May 2019
Building
MAG 318 Tower

About 1616, MAG 318 Tower

1616 is a studio of 440 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 27 May 2019 for AED 800,392, or AED 1,818 per sqft, in line with the AED 1,796 studios in the building were fetching at the time.

It has been rented continuously since 2021 on 4 Ejari contracts. The current contract, signed on 22 October 2025, is AED 80,000 a year: a gross yield of 10.0% on the 2019 price, before the service charge of about AED 10,100 a year.

Sales and rents for 1616 over time

Sales
Unit 1616, 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, May 2019: AED 800,392 (AED 1,818 per sqft)

1616 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1616, 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, August 2021: AED 48,000 a yearNew contract, October 2023: AED 74,000 a yearNew contract, October 2024: AED 75,000 a yearNew contract, October 2025: AED 80,000 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 1616 sits

All 316 studios →

1616 last sold in May 2019 at AED 1,818 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. 1616's AED 80,000 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

1616, MAG 318 Tower in numbers

  • Sold once: by MAG on 27 May 2019 for AED 800,392, or AED 1,818 per sqft.
  • Rented since August 2021 on 4 Ejari contracts, from AED 48,000 to AED 80,000 a year.
  • At AED 80,000 a year the gross yield on the 2019 price is 10.0%, 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 22 October 2025.

Questions about 1616, MAG 318 Tower

What did unit 1616 last sell for?

AED 800,392 on 27 May 2019, sold by the developer: AED 1,818 per sqft for 440 sqft. It is the only registered sale of the unit.

What is the rent for unit 1616?

AED 80,000 a year on the contract signed on 22 October 2025. The previous contract, from October 2024, was AED 75,000; the unit has been rented since August 2021.

How big is unit 1616?

440 sqft (40.9 sqm): a studio on the 16th floor of a 22-storey tower completed in 2020.

What is unit 1616 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 1616, MAG 318 Tower

Starts from the last sale price (AED 800K, 27 May 2019). Switch to today's estimate once you have unlocked it.
Price
AED 800,392
Deposit, UAE resident (20%)
AED 160,078
Deposit, non-resident (40%)
AED 320,157
Monthly over 25 years at 3.7%
AED 3,275

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