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Studio · 432 sqftMAG 318 Tower, Business Bay · 6th floor · completed 2020

605, MAG 318 Tower

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

Unit 605 · DLD and Ejari recordsUpdated 5 May 2023
Last soldAED 1.08M15 December 2020
Current rentAED 75K /yr5 May 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 605, MAG 318 Tower

What is 605 worth today?

Last sold for AED 1,075,000 in 2020

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5 May 2023RentedNew contract
AED 75,000/yr12 months · AED 174 per sqft
25 Dec 2021RentedNew contract
AED 60,000/yr12 months · AED 139 per sqft
15 Dec 2020Sold by developerOff-plan
AED 1,075,000AED 2,490 per sqft

Source: Dubai Land Department. Updated 5 May 2023.

Key facts

Type
Studio apartment
Size
432 sqft
Floor
6th of 22
Parking
P3-35
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 1.08M · December 2020
Building
MAG 318 Tower

About 605, MAG 318 Tower

605 is a studio of 432 sqft on the 6th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 15 December 2020 for AED 1,075,000, or AED 2,490 per sqft, 31% above the AED 1,894 studios in the building were fetching at the time.

It has been rented since 2021 on 2 Ejari contracts. The current contract, signed on 5 May 2023, is AED 75,000 a year: a gross yield of 7.0% on the 2020 price, before the service charge of about AED 10,000 a year.

Sales and rents for 605 over time

Sales
Unit 605, 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, December 2020: AED 1,075,000 (AED 2,490 per sqft)

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

Rents
Unit 605, 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, December 2021: AED 60,000 a yearNew contract, May 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 605 sits

All 316 studios →

605 last sold in December 2020 at AED 2,490 per sqft, 31% above what studios in MAG 318 Tower were fetching at the time (AED 1,894). 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. 605'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 79K /yr
Typical yield
6.1%
MAG 318 Tower, Business Bay: prices, sales and rents →

Other units on the 6th floor

All 439 units in MAG 318 Tower
Value
6011-bedAED 1.1M · Jul 2021
6022-bedAED 2.25M · Dec 2020
603StudioAED 756K · May 2018
604StudioAED 940K · Jun 2023
606StudioAED 874K · Nov 2019
607StudioAED 775K · Jul 2018
608StudioAED 880K · Nov 2022
1–7 of 21

605, MAG 318 Tower in numbers

  • Sold once: by MAG on 15 December 2020 for AED 1,075,000, or AED 2,490 per sqft.
  • Rented since December 2021 on 2 Ejari contracts, from AED 60,000 to AED 75,000 a year.
  • At AED 75,000 a year the gross yield on the 2020 price is 7.0%, 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 5 May 2023.

Questions about 605, MAG 318 Tower

What did unit 605 last sell for?

AED 1,075,000 on 15 December 2020, sold by the developer: AED 2,490 per sqft for 432 sqft. It is the only registered sale of the unit.

What is the rent for unit 605?

AED 75,000 a year on the contract signed on 5 May 2023. The previous contract, from December 2021, was AED 60,000.

How big is unit 605?

432 sqft (40.1 sqm): a studio on the 6th floor of a 22-storey tower completed in 2020.

What is unit 605 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 605, MAG 318 Tower

Starts from the last sale price (AED 1.08M, 15 December 2020). Switch to today's estimate once you have unlocked it.
Price
AED 1,075,000
Deposit, UAE resident (20%)
AED 215,000
Deposit, non-resident (40%)
AED 430,000
Monthly over 25 years at 3.7%
AED 4,398

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