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Studio · 446 sqftMAG 318 Tower, Business Bay · 8th floor · completed 2020

823, MAG 318 Tower

Sold prices and rental history: sold once, by the developer in May 2018, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 823 · DLD and Ejari recordsUpdated 15 June 2025
Last soldAED 825K17 May 2018
Current rentAED 70K /yr15 June 2025
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 823, MAG 318 Tower

What is 823 worth today?

Last sold for AED 825,492 in 2018

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15 Jun 2025RentedNew contract
AED 70,000/yr12 months · AED 157 per sqft
1 Apr 2024RentedNew contract
AED 77,000/yr12 months · AED 172 per sqft
1 Aug 2023RentedRenewal
AED 42,000/yr6 months · AED 95 per sqft
1 Aug 2022RentedRenewal
AED 42,000/yr12 months · AED 95 per sqft
1 Aug 2021RentedNew contract
AED 42,000/yr12 months · AED 95 per sqft
17 May 2018Sold by developerOff-plan
AED 825,492AED 1,849 per sqft

Source: Dubai Land Department. Updated 15 June 2025.

Key facts

Type
Studio apartment
Size
446 sqft
Floor
8th of 22
Parking
P3-108
Developer
MAG
Completed
2020
Service charge
AED 10,300 /yr
Last sold
AED 825K · May 2018
Building
MAG 318 Tower

About 823, MAG 318 Tower

823 is a studio of 446 sqft on the 8th floor of MAG 318 Tower, a 22-storey tower in Business Bay completed in 2020 by MAG. The developer sold it on 17 May 2018 for AED 825,492, or AED 1,849 per sqft, in line with the AED 1,803 studios in the building were fetching at the time.

It has been rented continuously since 2021 on 5 Ejari contracts. The current contract, signed on 15 June 2025, is AED 70,000 a year: a gross yield of 8.5% on the 2018 price, before the service charge of about AED 10,300 a year.

Sales and rents for 823 over time

Sales
Unit 823, 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, May 2018: AED 825,492 (AED 1,849 per sqft)

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

Rents
Unit 823, 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, August 2021: AED 42,000 a yearRenewal, August 2022: AED 42,000 a yearRenewal, August 2023: AED 42,000 a yearNew contract, April 2024: AED 77,000 a yearNew contract, June 2025: AED 70,000 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 823 sits

All 316 studios →

823 last sold in May 2018 at AED 1,849 per sqft, in line with what studios in MAG 318 Tower were fetching at the time (AED 1,803). 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. 823's AED 70,000 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

823, MAG 318 Tower in numbers

  • Sold once: by MAG on 17 May 2018 for AED 825,492, or AED 1,849 per sqft.
  • Rented since August 2021 on 5 Ejari contracts, from AED 42,000 to AED 70,000 a year.
  • At AED 70,000 a year the gross yield on the 2018 price is 8.5%, before a service charge of about AED 10,300 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 15 June 2025.

Questions about 823, MAG 318 Tower

What did unit 823 last sell for?

AED 825,492 on 17 May 2018, sold by the developer: AED 1,849 per sqft for 446 sqft. It is the only registered sale of the unit.

What is the rent for unit 823?

AED 70,000 a year on the contract signed on 15 June 2025. The previous contract, from April 2024, was AED 77,000; the unit has been rented since August 2021.

How big is unit 823?

446 sqft (41.4 sqm): a studio on the 8th floor of a 22-storey tower completed in 2020.

What is unit 823 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 823, MAG 318 Tower

Starts from the last sale price (AED 825K, 17 May 2018). Switch to today's estimate once you have unlocked it.
Price
AED 825,492
Deposit, UAE resident (20%)
AED 165,098
Deposit, non-resident (40%)
AED 330,197
Monthly over 25 years at 3.7%
AED 3,377

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