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Studio · 433 sqftMAG 318 Tower, Business Bay · 6th floor · completed 2020

606, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in November 2019, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 606 · DLD and Ejari recordsUpdated 14 June 2024
Last soldAED 874K24 November 2019
Current rentAED 60K /yr14 June 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 606, MAG 318 Tower

What is 606 worth today?

Last sold for AED 874,460 in 2019

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14 Jun 2024RentedNew contract
AED 60,000/yr12 months · AED 139 per sqft
25 May 2023RentedNew contract
AED 70,000/yr12 months · AED 162 per sqft
1 Aug 2022RentedNew contract
AED 59,048/yr12 months · AED 136 per sqft
13 Jul 2021RentedNew contract
AED 40,000/yr12 months · AED 93 per sqft
24 Nov 2019Sold by developerOff-plan
AED 874,460AED 2,019 per sqft

Source: Dubai Land Department. Updated 14 June 2024.

Key facts

Type
Studio apartment
Size
433 sqft
Floor
6th of 22
Parking
P3-36
Developer
MAG
Completed
2020
Service charge
AED 10,000 /yr
Last sold
AED 874K · November 2019
Building
MAG 318 Tower

About 606, MAG 318 Tower

606 is a studio of 433 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 24 November 2019 for AED 874,460, or AED 2,019 per sqft, 12% above the AED 1,801 studios in the building were fetching at the time.

It has been rented continuously since 2021 on 4 Ejari contracts. The current contract, signed on 14 June 2024, is AED 60,000 a year: a gross yield of 6.9% on the 2019 price, before the service charge of about AED 10,000 a year.

Sales and rents for 606 over time

Sales
Unit 606, 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, November 2019: AED 874,460 (AED 2,019 per sqft)

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

Rents
Unit 606, each contractTypical studio in MAG 318 Tower
40K60K80K2021202320252027Typical 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, July 2021: AED 40,000 a yearNew contract, August 2022: AED 59,048 a yearNew contract, May 2023: AED 70,000 a yearNew contract, June 2024: AED 60,000 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 606 sits

All 316 studios →

606 last sold in November 2019 at AED 2,019 per sqft, 12% 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. 606's AED 60,000 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
605StudioAED 1.08M · Dec 2020
607StudioAED 775K · Jul 2018
608StudioAED 880K · Nov 2022
1–7 of 21

606, MAG 318 Tower in numbers

  • Sold once: by MAG on 24 November 2019 for AED 874,460, or AED 2,019 per sqft.
  • Rented since July 2021 on 4 Ejari contracts, from AED 40,000 to AED 60,000 a year.
  • At AED 60,000 a year the gross yield on the 2019 price is 6.9%, 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 14 June 2024.

Questions about 606, MAG 318 Tower

What did unit 606 last sell for?

AED 874,460 on 24 November 2019, sold by the developer: AED 2,019 per sqft for 433 sqft. It is the only registered sale of the unit.

What is the rent for unit 606?

AED 60,000 a year on the contract signed on 14 June 2024. The previous contract, from May 2023, was AED 70,000; the unit has been rented since July 2021.

How big is unit 606?

433 sqft (40.2 sqm): a studio on the 6th floor of a 22-storey tower completed in 2020.

What is unit 606 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 606, MAG 318 Tower

Starts from the last sale price (AED 874K, 24 November 2019). Switch to today's estimate once you have unlocked it.
Price
AED 874,460
Deposit, UAE resident (20%)
AED 174,892
Deposit, non-resident (40%)
AED 349,784
Monthly over 25 years at 3.7%
AED 3,578

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