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Studio · 441 sqftMAG 318 Tower, Business Bay · 8th floor · completed 2020

817, MAG 318 Tower

Sold prices and rental history: sold twice, last in April 2024, and rented once, from March 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 817 · DLD and Ejari recordsUpdated 24 April 2024
Last soldAED 1.06M24 April 2024
Current rentAED 60K /yr19 March 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 817, MAG 318 Tower

What is 817 worth today?

Last sold for AED 1,060,000 in 2024

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24 Apr 2024SoldReady
AED 1,060,000AED 2,404 per sqft
19 Mar 2022RentedNew contract
AED 60,000/yr12 months · AED 136 per sqft
15 Apr 2019Sold by developerOff-plan
AED 791,600AED 1,795 per sqft

Source: Dubai Land Department. Updated 24 April 2024.

Key facts

Type
Studio apartment
Size
441 sqft
Floor
8th of 22
Parking
P3-101
Developer
MAG
Completed
2020
Service charge
AED 10,200 /yr
Last sold
AED 1.06M · April 2024
Building
MAG 318 Tower

About 817, MAG 318 Tower

817 is a studio of 441 sqft on the 8th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. It last sold on 24 April 2024 for AED 1,060,000, or AED 2,404 per sqft, 7% above the AED 2,247 studios in the building were fetching at the time.

One Ejari contract is registered, from 19 March 2022. The current contract, signed on 19 March 2022, is AED 60,000 a year: a gross yield of 5.7% on the 2024 price, before the service charge of about AED 10,200 a year.

Sales and rents for 817 over time

Sales
Unit 817, 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 791,600 (AED 1,795 per sqft)Sold, April 2024: AED 1,060,000 (AED 2,404 per sqft)

817 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 817, 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 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 817 sits

All 316 studios →

817 last sold in April 2024 at AED 2,404 per sqft, 7% above what studios in MAG 318 Tower were fetching at the time (AED 2,247). 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. 817'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 8th floor

All 439 units in MAG 318 Tower
Value
8011-bedAED 1.55M · Mar 2020
8022-bedAED 1.85M · Nov 2020
803StudioAED 780K · Nov 2018
804StudioAED 780K · Jun 2018
805StudioAED 780K · Sep 2018
806StudioAED 779K · Nov 2021
807StudioAED 753K · Jul 2018
1–7 of 23

817, MAG 318 Tower in numbers

  • Sold twice: first on 15 April 2019 for AED 791,600, last on 24 April 2024 for AED 1,060,000 (AED 2,404 per sqft).
  • Rented since March 2022 on one Ejari contract, at AED 60,000 a year.
  • At AED 60,000 a year the gross yield on the 2024 price is 5.7%, 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 24 April 2024.

Questions about 817, MAG 318 Tower

What did unit 817 last sell for?

AED 1,060,000 on 24 April 2024: AED 2,404 per sqft for 441 sqft. The unit has 2 registered sales; the first was AED 791,600 in April 2019.

What is the rent for unit 817?

AED 60,000 a year on the contract signed on 19 March 2022.

How big is unit 817?

441 sqft (41.0 sqm): a studio on the 8th floor of a 22-storey tower completed in 2020.

What is unit 817 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 817, MAG 318 Tower

Starts from the last sale price (AED 1.06M, 24 April 2024). Switch to today's estimate once you have unlocked it.
Price
AED 1,060,000
Deposit, UAE resident (20%)
AED 212,000
Deposit, non-resident (40%)
AED 424,000
Monthly over 25 years at 3.7%
AED 4,337

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