516, MAG 318 Tower
Sold prices and rental history: sold once, by the developer in May 2019, and rented continuously since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 516, MAG 318 Tower
What is 516 worth today?
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Source: Dubai Land Department. Updated 29 August 2026.
Key facts
- Type
- Studio apartment
- Size
- 441 sqft
- Floor
- 5th of 22
- Parking
- P3-24
- Developer
- MAG
- Completed
- 2020
- Service charge
- AED 10,200 /yr
- Last sold
- AED 804K · May 2019
- Building
- MAG 318 Tower
About 516, MAG 318 Tower
516 is a studio of 441 sqft on the 5th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 20 May 2019 for AED 803,500, or AED 1,821 per sqft, in line with the AED 1,796 studios in the building were fetching at the time.
It has been rented continuously since 2022 on 7 Ejari contracts. The current contract, signed on 29 August 2026, is AED 55,500 a year: a gross yield of 6.9% on the 2019 price, before the service charge of about AED 10,200 a year.
Sales and rents for 516 over time
516 has sold once; the dashed line is the studio median of each year in the building.
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 516 sits
All 316 studios →516 last sold in May 2019 at AED 1,821 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. 516's AED 55,500 is in the lower half of that range.
| Recent studio sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 22 Oct 202622 October 2026 | 432 sqft | 850,000 | 1,968 | ||
| 27 Aug 202627 August 2026 | 433 sqft | 920,000 | 2,125 | ||
| 7 Aug 20267 August 2026 | 440 sqft | 850,000 | 1,932 | ||
| 21 Jul 202621 July 2026 | 441 sqft | 850,000 | 1,926 |
MAG 318 Tower
Building439 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%
Other units on the 5th floor
All 439 units in MAG 318 Tower| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | 1-bed | 821 sqft | AED 1.58MAED 1,580,000 · Aug 2024August 2024 | 110,000 /yr | |
| 502 | 2-bed | 967 sqft | AED 1.59MAED 1,590,765 · Apr 2021April 2021 | 125,000 /yr | |
| 503 | Studio | 438 sqft | AED 745KAED 745,000 · Nov 2021November 2021 | ||
| 504 | Studio | 433 sqft | AED 690KAED 690,000 · Jun 2021June 2021 | ||
| 505 | Studio | 432 sqft | AED 787KAED 787,097 · Jan 2018January 2018 | 80,000 /yr | |
| 506 | Studio | 433 sqft | AED 780KAED 780,000 · Mar 2019March 2019 | 70,000 /yr | |
| 507 | Studio | 432 sqft | AED 787KAED 787,000 · Jan 2019January 2019 | ||
| 508 | Studio | 433 sqft | AED 775KAED 775,000 · Jul 2018July 2018 | 75,000 /yr | |
| 509 | Studio | 434 sqft | AED 650KAED 650,000 · May 2021May 2021 | 58,000 /yr | |
| 510 | 1-bed | 874 sqft | AED 1.96MAED 1,955,000 · Dec 2020December 2020 | 130,000 /yr | |
| 511 | 2-bed | 967 sqft | AED 2.3MAED 2,300,000 · Dec 2020December 2020 | 100,000 /yr | |
| 512 | 1-bed | 982 sqft | AED 1.65MAED 1,650,000 · Dec 2021December 2021 | 130,000 /yr | |
| 513 | 2-bed | 1,044 sqft | AED 1.85MAED 1,850,000 · Nov 2021November 2021 | 110,000 /yr | |
| 514 | 1-bed | 890 sqft | AED 1.42MAED 1,418,500 · Jun 2019June 2019 | 90,000 /yr | |
| 515 | Studio | 442 sqft | AED 768KAED 767,900 · Dec 2018December 2018 | 80,000 /yr | |
| 517 | Studio | 440 sqft | AED 769KAED 768,750 · Apr 2019April 2019 | 69,300 /yr | |
| 518 | Studio | 441 sqft | AED 774KAED 774,441 · Aug 2018August 2018 | 57,000 /yr | |
| 519 | Studio | 440 sqft | AED 1.23MAED 1,225,000 · Jul 2025July 2025 | 84,000 /yr | |
| 520 | Studio | 441 sqft | AED 775KAED 775,330 · Mar 2020March 2020 | ||
| 521 | Studio | 446 sqft | AED 775KAED 774,600 · Jan 2018January 2018 | 55,000 /yr | |
| 522 | 2-bed | 1,042 sqft | AED 1.86MAED 1,856,292 · Jan 2021January 2021 | 110,000 /yr |
516, MAG 318 Tower in numbers
- Sold once: by MAG on 20 May 2019 for AED 803,500, or AED 1,821 per sqft.
- Rented since April 2022 on 7 Ejari contracts, from AED 62,000 to AED 55,500 a year.
- At AED 55,500 a year the gross yield on the 2019 price is 6.9%, 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 29 August 2026.
Questions about 516, MAG 318 Tower
What did unit 516 last sell for?
AED 803,500 on 20 May 2019, sold by the developer: AED 1,821 per sqft for 441 sqft. It is the only registered sale of the unit.
What is the rent for unit 516?
AED 55,500 a year on the contract signed on 29 August 2026. The previous contract, from April 2025, was AED 75,000; the unit has been rented since April 2022.
How big is unit 516?
441 sqft (41.0 sqm): a studio on the 5th floor of a 22-storey tower completed in 2020.
What is unit 516 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 516, MAG 318 Tower
Starts from the last sale price (AED 804K, 20 May 2019). Switch to today's estimate once you have unlocked it.- Price
- AED 803,500
- Deposit, UAE resident (20%)
- AED 160,700
- Deposit, non-resident (40%)
- AED 321,400
- Monthly over 25 years at 3.7%
- AED 3,287
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →