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Studio · 441 sqftMAG 318 Tower, Business Bay · 22nd floor · completed 2020

2220, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in June 2018, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 2220 · DLD and Ejari recordsUpdated 17 April 2023
Last soldAED 868K27 June 2018
Current rentAED 75K /yr17 April 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 2220, MAG 318 Tower

What is 2220 worth today?

Last sold for AED 868,407 in 2018

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17 Apr 2023RentedNew contract
AED 75,000/yr12 months · AED 170 per sqft
11 Mar 2022RentedNew contract
AED 68,000/yr12 months · AED 154 per sqft
27 Jun 2018Sold by developerOff-plan
AED 868,407AED 1,968 per sqft

Source: Dubai Land Department. Updated 17 April 2023.

Key facts

Type
Studio apartment
Size
441 sqft
Floor
22nd of 22
Parking
B1-03
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 868K · June 2018
Building
MAG 318 Tower

About 2220, MAG 318 Tower

2220 is a studio of 441 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 27 June 2018 for AED 868,407, or AED 1,968 per sqft, 9% above the AED 1,799 studios in the building were fetching at the time.

It has been rented since 2022 on 2 Ejari contracts. The current contract, signed on 17 April 2023, is AED 75,000 a year: a gross yield of 8.6% on the 2018 price, before the service charge of about AED 10,200 a year.

Sales and rents for 2220 over time

Sales
Unit 2220, 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, June 2018: AED 868,407 (AED 1,968 per sqft)

2220 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 2220, 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, March 2022: AED 68,000 a yearNew contract, April 2023: AED 75,000 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 2220 sits

All 316 studios →

2220 last sold in June 2018 at AED 1,968 per sqft, 9% above what studios in MAG 318 Tower were fetching at the time (AED 1,799). 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. 2220's AED 75,000 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 78K /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

2220, MAG 318 Tower in numbers

  • Sold once: by MAG on 27 June 2018 for AED 868,407, or AED 1,968 per sqft.
  • Rented since March 2022 on 2 Ejari contracts, from AED 68,000 to AED 75,000 a year.
  • At AED 75,000 a year the gross yield on the 2018 price is 8.6%, 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 17 April 2023.

Questions about 2220, MAG 318 Tower

What did unit 2220 last sell for?

AED 868,407 on 27 June 2018, sold by the developer: AED 1,968 per sqft for 441 sqft. It is the only registered sale of the unit.

What is the rent for unit 2220?

AED 75,000 a year on the contract signed on 17 April 2023. The previous contract, from March 2022, was AED 68,000.

How big is unit 2220?

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

What is unit 2220 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 2220, MAG 318 Tower

Starts from the last sale price (AED 868K, 27 June 2018). Switch to today's estimate once you have unlocked it.
Price
AED 868,407
Deposit, UAE resident (20%)
AED 173,681
Deposit, non-resident (40%)
AED 347,363
Monthly over 25 years at 3.7%
AED 3,553

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