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2-bed · 1,045 sqftMAG 318 Tower, Business Bay · 22nd floor · completed 2020

2214, MAG 318 Tower

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

Unit 2214 · DLD and Ejari recordsUpdated 11 May 2024
Last soldAED 1.51M25 February 2021
Current rentAED 160K /yr11 May 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2214, MAG 318 Tower

What is 2214 worth today?

Last sold for AED 1,513,162 in 2021

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11 May 2024RentedNew contract
AED 160,000/yr12 months · AED 153 per sqft
16 Nov 2021RentedNew contract
AED 140,000/yr12 months · AED 134 per sqft
17 Aug 2021RentedNew contract
AED 120,000/yr12 months · AED 115 per sqft
25 Feb 2021Sold by developerReady
AED 1,513,162AED 1,447 per sqft

Source: Dubai Land Department. Updated 11 May 2024.

Key facts

Type
2-bed apartment
Size
1,045 sqft
Floor
22nd of 22
Parking
B2-134
Developer
MAG
Completed
2020
Service charge
AED 24,100 /yr
Last sold
AED 1.51M · February 2021
Building
MAG 318 Tower

About 2214, MAG 318 Tower

2214 is a two-bedroom apartment of 1,045 sqft on the 22nd floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 25 February 2021 for AED 1,513,162, or AED 1,447 per sqft, 33% below the AED 2,156 two-beds in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, signed on 11 May 2024, is AED 160,000 a year: a gross yield of 10.6% on the 2021 price, before the service charge of about AED 24,100 a year.

Sales and rents for 2214 over time

Sales
Unit 2214, each saleTypical two-bed in MAG 318 Tower
1.5M2M2018202120242027Typical sale price by year: 2018 AED 1,781,294; 2019 AED 1,782,000; 2020 AED 2,250,000; 2021 AED 1,855,087; 2022 AED 1,357,005; 2024 AED 2,120,000; 2025 AED 2,100,000; 2026 AED 2,000,000Sold by developer, February 2021: AED 1,513,162 (AED 1,447 per sqft)

2214 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 2214, each contractTypical two-bed in MAG 318 Tower
100K150K2021202320252027Typical rent by year: 2021 AED 100,000; 2022 AED 120,000; 2023 AED 125,000; 2024 AED 143,000; 2025 AED 145,000; 2026 AED 136,764New contract, August 2021: AED 120,000 a yearNew contract, November 2021: AED 140,000 a yearNew contract, May 2024: AED 160,000 a year

Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.

2-beds in MAG 318 Tower, and where 2214 sits

All 75 2-beds →

2214 last sold in February 2021 at AED 1,447 per sqft, 33% below what two-beds in MAG 318 Tower were fetching at the time (AED 2,156). Over the last 12 months two-beds sold for AED 2,000,000 to 2,800,000, around AED 2,068 per sqft, and rent for AED 85,000 to 166,000 a year. 2214's AED 160,000 is in the upper half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
16 Sep 20262,000,000
14 Sep 20262,800,000
12 Feb 20262,000,000
29 Aug 20252,250,000
3 2-bed 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 22nd floor

All 439 units in MAG 318 Tower
Value
22011-bedAED 1.35M · Aug 2021
22022-bedAED 1.89M · Jul 2021
2203StudioAED 851K · Sep 2018
2204StudioAED 811K · Apr 2019
2205StudioAED 920K · Mar 2023
2206StudioAED 1.02M · Jul 2024
2207StudioAED 650K · May 2021
1–7 of 23

2214, MAG 318 Tower in numbers

  • Sold once: by MAG on 25 February 2021 for AED 1,513,162, or AED 1,447 per sqft.
  • Rented since August 2021 on 3 Ejari contracts, from AED 120,000 to AED 160,000 a year.
  • At AED 160,000 a year the gross yield on the 2021 price is 10.6%, before a service charge of about AED 24,100 a year (AED 23.06 per sqft).
  • Two-beds in MAG 318 Tower sold for AED 2,000,000–2,800,000 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 11 May 2024.

Questions about 2214, MAG 318 Tower

What did unit 2214 last sell for?

AED 1,513,162 on 25 February 2021, sold by the developer: AED 1,447 per sqft for 1,045 sqft. It is the only registered sale of the unit.

What is the rent for unit 2214?

AED 160,000 a year on the contract signed on 11 May 2024. The previous contract, from November 2021, was AED 140,000; the unit has been rented since August 2021.

How big is unit 2214?

1,045 sqft (97.1 sqm): a two-bedroom apartment on the 22nd floor of a 22-storey tower completed in 2020.

What is unit 2214 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in MAG 318 Tower sold for AED 2,000,000 to 2,800,000 in the last 12 months, around AED 2,068 per sqft.

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Mortgage on 2214, MAG 318 Tower

Starts from the last sale price (AED 1.51M, 25 February 2021). Switch to today's estimate once you have unlocked it.
Price
AED 1,513,162
Deposit, UAE resident (20%)
AED 302,632
Deposit, non-resident (40%)
AED 605,265
Monthly over 25 years at 3.7%
AED 6,191

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