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Studio · 433 sqftMAG 318 Tower, Business Bay · 20th floor · completed 2020

2004, MAG 318 Tower

Sold prices and rental history: sold twice, last in September 2023, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2004 · DLD and Ejari recordsUpdated 28 September 2023
Last soldAED 970K28 September 2023
Current rentAED 53K /yr20 September 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2004, MAG 318 Tower

What is 2004 worth today?

Last sold for AED 970,000 in 2023

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28 Sep 2023SoldReady
AED 970,000AED 2,240 per sqft
20 Sep 2022RentedRenewal
AED 52,500/yr12 months · AED 122 per sqft
20 Sep 2021RentedNew contract
AED 50,000/yr12 months · AED 116 per sqft
6 Jan 2021Sold by developerReady
AED 885,825AED 2,046 per sqft

Source: Dubai Land Department. Updated 28 September 2023.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
20th of 22
Parking
B2-61
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 970K · September 2023
Building
MAG 318 Tower

About 2004, MAG 318 Tower

2004 is a studio of 433 sqft on the 20th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 28 September 2023 for AED 970,000, or AED 2,240 per sqft, 5% above the AED 2,128 studios in the building were fetching at the time.

It has been rented since 2021 on 2 Ejari contracts. The current contract, renewed on 20 September 2022, is AED 52,500 a year: a gross yield of 5.4% on the 2023 price, before the service charge of about AED 10,000 a year.

Sales and rents for 2004 over time

Sales
Unit 2004, 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, January 2021: AED 885,825 (AED 2,046 per sqft)Sold, September 2023: AED 970,000 (AED 2,240 per sqft)

2004 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 2004, 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, September 2021: AED 50,000 a yearRenewal, September 2022: AED 52,500 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 2004 sits

All 316 studios →

2004 last sold in September 2023 at AED 2,240 per sqft, 5% above what studios in MAG 318 Tower were fetching at the time (AED 2,128). 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. 2004's AED 52,500 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 20th floor

All 439 units in MAG 318 Tower
Value
20011-bedAED 1.8M · Apr 2025
20022-bedAED 1.8M · Aug 2021
2003StudioAED 919K · Jan 2021
2005StudioAED 930K · Jul 2023
2006StudioAED 912K · Aug 2021
2007StudioAED 980K · Dec 2023
2008StudioAED 933K · Jan 2021
1–7 of 23

2004, MAG 318 Tower in numbers

  • Sold twice: first on 6 January 2021 for AED 885,825, last on 28 September 2023 for AED 970,000 (AED 2,240 per sqft).
  • Rented since September 2021 on 2 Ejari contracts, from AED 50,000 to AED 52,500 a year.
  • At AED 52,500 a year the gross yield on the 2023 price is 5.4%, before a service charge of about AED 10,000 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 28 September 2023.

Questions about 2004, MAG 318 Tower

What did unit 2004 last sell for?

AED 970,000 on 28 September 2023: AED 2,240 per sqft for 433 sqft. The unit has 2 registered sales; the first was AED 885,825 in January 2021.

What is the rent for unit 2004?

AED 52,500 a year on the contract renewed on 20 September 2022. The previous contract, from September 2021, was AED 50,000.

How big is unit 2004?

433 sqft (40.2 sqm): a studio on the 20th floor of a 22-storey tower completed in 2020.

What is unit 2004 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 2004, MAG 318 Tower

Starts from the last sale price (AED 970K, 28 September 2023). Switch to today's estimate once you have unlocked it.
Price
AED 970,000
Deposit, UAE resident (20%)
AED 194,000
Deposit, non-resident (40%)
AED 388,000
Monthly over 25 years at 3.7%
AED 3,969

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