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Studio · 441 sqftMAG 318 Tower, Business Bay · 20th floor · completed 2020

2020, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in April 2020, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2020 · DLD and Ejari recordsUpdated 31 October 2024
Last soldAED 907K22 April 2020
Current rentAED 70K /yr31 October 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2020, MAG 318 Tower

What is 2020 worth today?

Last sold for AED 907,020 in 2020

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31 Oct 2024RentedRenewal
AED 70,000/yr12 months · AED 159 per sqft
31 Oct 2023RentedNew contract
AED 70,000/yr12 months · AED 159 per sqft
7 Aug 2021RentedNew contract
AED 48,000/yr12 months · AED 109 per sqft
22 Apr 2020Sold by developerOff-plan
AED 907,020AED 2,056 per sqft

Source: Dubai Land Department. Updated 31 October 2024.

Key facts

Type
Studio apartment
Size
441 sqft
Floor
20th of 22
Parking
B2-77
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 907K · April 2020
Building
MAG 318 Tower

About 2020, MAG 318 Tower

2020 is a studio of 441 sqft on the 20th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 22 April 2020 for AED 907,020, or AED 2,056 per sqft, 14% above the AED 1,801 studios in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, renewed on 31 October 2024, is AED 70,000 a year: a gross yield of 7.7% on the 2020 price, before the service charge of about AED 10,200 a year.

Sales and rents for 2020 over time

Sales
Unit 2020, 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, April 2020: AED 907,020 (AED 2,056 per sqft)

2020 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 2020, 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, August 2021: AED 48,000 a yearNew contract, October 2023: AED 70,000 a yearRenewal, October 2024: AED 70,000 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 2020 sits

All 316 studios →

2020 last sold in April 2020 at AED 2,056 per sqft, 14% above what studios in MAG 318 Tower were fetching at the time (AED 1,801). 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. 2020's AED 70,000 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 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
2004StudioAED 970K · Sep 2023
2005StudioAED 930K · Jul 2023
2006StudioAED 912K · Aug 2021
2007StudioAED 980K · Dec 2023
1–7 of 23

2020, MAG 318 Tower in numbers

  • Sold once: by MAG on 22 April 2020 for AED 907,020, or AED 2,056 per sqft.
  • Rented since August 2021 on 3 Ejari contracts, from AED 48,000 to AED 70,000 a year.
  • At AED 70,000 a year the gross yield on the 2020 price is 7.7%, before a service charge of about AED 10,200 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 31 October 2024.

Questions about 2020, MAG 318 Tower

What did unit 2020 last sell for?

AED 907,020 on 22 April 2020, sold by the developer: AED 2,056 per sqft for 441 sqft. It is the only registered sale of the unit.

What is the rent for unit 2020?

AED 70,000 a year on the contract renewed on 31 October 2024. The previous contract, from October 2023, was AED 70,000; the unit has been rented since August 2021.

How big is unit 2020?

441 sqft (41.0 sqm): a studio on the 20th floor of a 22-storey tower completed in 2020.

What is unit 2020 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 2020, MAG 318 Tower

Starts from the last sale price (AED 907K, 22 April 2020). Switch to today's estimate once you have unlocked it.
Price
AED 907,020
Deposit, UAE resident (20%)
AED 181,404
Deposit, non-resident (40%)
AED 362,808
Monthly over 25 years at 3.7%
AED 3,711

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