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Studio · 440 sqftMAG 318 Tower, Business Bay · 7th floor · completed 2020

717, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in April 2019, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 717 · DLD and Ejari recordsUpdated 7 July 2023
Last soldAED 779K15 April 2019
Current rentAED 77K /yr7 July 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 717, MAG 318 Tower

What is 717 worth today?

Last sold for AED 778,916 in 2019

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7 Jul 2023RentedRenewal
AED 77,000/yr12 months · AED 174 per sqft
7 Jul 2022RentedNew contract
AED 74,000/yr12 months · AED 168 per sqft
15 Apr 2019Sold by developerOff-plan
AED 778,916AED 1,771 per sqft

Source: Dubai Land Department. Updated 7 July 2023.

Key facts

Type
Studio apartment
Size
440 sqft
Floor
7th of 22
Parking
P3-74
Developer
MAG
Completed
2020
Service charge
AED 10,100 /yr
Last sold
AED 779K · April 2019
Building
MAG 318 Tower

About 717, MAG 318 Tower

717 is a studio of 440 sqft on the 7th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 15 April 2019 for AED 778,916, or AED 1,771 per sqft, in line with the AED 1,795 studios in the building were fetching at the time.

It has been rented since 2022 on 2 Ejari contracts. The current contract, renewed on 7 July 2023, is AED 77,000 a year: a gross yield of 9.9% on the 2019 price, before the service charge of about AED 10,100 a year.

Sales and rents for 717 over time

Sales
Unit 717, 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, April 2019: AED 778,916 (AED 1,771 per sqft)

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

Rents
Unit 717, each contractTypical studio in MAG 318 Tower
60K80K2021202320252027Typical 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 2022: AED 74,000 a yearRenewal, July 2023: AED 77,000 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 717 sits

All 316 studios →

717 last sold in April 2019 at AED 1,771 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,795). 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. 717's AED 77,000 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 7th floor

All 439 units in MAG 318 Tower
Value
7011-bedAED 1.46M · Jul 2018
7022-bedAED 2.25M · Dec 2020
703StudioAED 680K · Jun 2021
704StudioAED 1.1M · Dec 2024
705StudioAED 794K · Mar 2018
706StudioAED 1.01M · Jun 2021
707StudioAED 980K · Feb 2024
1–7 of 21

717, MAG 318 Tower in numbers

  • Sold once: by MAG on 15 April 2019 for AED 778,916, or AED 1,771 per sqft.
  • Rented since July 2022 on 2 Ejari contracts, from AED 74,000 to AED 77,000 a year.
  • At AED 77,000 a year the gross yield on the 2019 price is 9.9%, before a service charge of about AED 10,100 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 7 July 2023.

Questions about 717, MAG 318 Tower

What did unit 717 last sell for?

AED 778,916 on 15 April 2019, sold by the developer: AED 1,771 per sqft for 440 sqft. It is the only registered sale of the unit.

What is the rent for unit 717?

AED 77,000 a year on the contract renewed on 7 July 2023. The previous contract, from July 2022, was AED 74,000.

How big is unit 717?

440 sqft (40.9 sqm): a studio on the 7th floor of a 22-storey tower completed in 2020.

What is unit 717 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 717, MAG 318 Tower

Starts from the last sale price (AED 779K, 15 April 2019). Switch to today's estimate once you have unlocked it.
Price
AED 778,916
Deposit, UAE resident (20%)
AED 155,783
Deposit, non-resident (40%)
AED 311,566
Monthly over 25 years at 3.7%
AED 3,187

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