Home
Dubai prices
About
Blog
Studio · 410 sqftMAG 515, Dubai South · 1st floor · completed 2020

116, MAG 515

Sold prices and rental history: sold once, by the developer in August 2017, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 116 · DLD and Ejari recordsUpdated 5 December 2024
Last soldAED 377K29 August 2017
Current rentAED 38K /yr5 December 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
Follow 116

Property timeline for 116, MAG 515

What is 116 worth today?

Last sold for AED 376,602 in 2017

Unlock today's estimate, updated daily, with

Verify once to see valuations for every property. Everything else on this page is open.

5 Dec 2024RentedNew contract
AED 38,000/yr12 months · AED 93 per sqft
22 Nov 2023RentedRenewal
AED 22,000/yr12 months · AED 54 per sqft
22 Nov 2022RentedNew contract
AED 21,000/yr12 months · AED 51 per sqft
22 Nov 2021RentedNew contract
AED 18,000/yr12 months · AED 44 per sqft
29 Aug 2017Sold by developerOff-plan
AED 376,602AED 918 per sqft

Source: Dubai Land Department. Updated 5 December 2024.

Key facts

Type
Studio apartment
Size
410 sqft
Floor
1st of 6
Parking
G-16
Developer
MAG
Completed
2020
Service charge
AED 7,000 /yr
Last sold
AED 377K · August 2017
Building
MAG 515

About 116, MAG 515

116 is a studio of 410 sqft on the 1st floor of MAG 515, a 6-storey tower in Dubai South completed in 2020 by MAG. The developer sold it on 29 August 2017 for AED 376,602, or AED 918 per sqft, in line with the AED 921 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 5 December 2024, is AED 38,000 a year: a gross yield of 10.1% on the 2017 price, before the service charge of about AED 7,000 a year.

Sales and rents for 116 over time

Sales
Unit 116, each saleTypical studio in MAG 515
300K400K2017202020232026Typical sale price by year: 2017 AED 365,000; 2018 AED 372,140; 2019 AED 360,000; 2021 AED 275,000; 2022 AED 260,000; 2023 AED 323,140; 2024 AED 415,000; 2025 AED 415,000Sold by developer, August 2017: AED 376,602 (AED 918 per sqft)

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

Rents
Unit 116, each contractTypical studio in MAG 515
20K30K40K2020202220242026Typical rent by year: 2020 AED 20,000; 2021 AED 18,000; 2022 AED 20,500; 2023 AED 24,967; 2024 AED 33,457; 2025 AED 40,000; 2026 AED 40,000New contract, November 2021: AED 18,000 a yearNew contract, November 2022: AED 21,000 a yearRenewal, November 2023: AED 22,000 a yearNew contract, December 2024: AED 38,000 a year

Annual rent on each registered contract; the dashed line is the studio median of each year in the building.

Studios in MAG 515, and where 116 sits

All 60 studios →

116 last sold in August 2017 at AED 918 per sqft, in line with what studios in MAG 515 were fetching at the time (AED 921). Over the last 12 months studios sold for AED 475,000 to 480,000, around AED 1,210 per sqft, and rent for AED 25,000 to 54,000 a year. 116's AED 38,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
19 Aug 2026475,000
25 Jun 2026480,000
19 Aug 2025525,000
10 Jul 2025460,000
2 studio sales in the last 12 months

MAG 515

Building

132 apartments, studios to 2-bed over 6 floors in Dubai South, completed in 2020 by MAG. 9 sold in the last 12 months.

Typical price per sqft
AED 1,092
Typical sale
AED 595K
Typical rent
AED 43K /yr
Typical yield
8.8%
MAG 515, Dubai South: prices, sales and rents →

Other units on the 1st floor

All 132 units in MAG 515
Value
1011-bedAED 400K · Feb 2022
102StudioAED 390K · Oct 2017
103StudioAED 370K · Oct 2018
1041-bedAED 444K · Jul 2017
1052-bedAED 228K · Dec 2022
1061-bedAED 480K · Jul 2018
107StudioAED 240K · Mar 2021
1–7 of 21

116, MAG 515 in numbers

  • Sold once: by MAG on 29 August 2017 for AED 376,602, or AED 918 per sqft.
  • Rented since November 2021 on 4 Ejari contracts, from AED 18,000 to AED 38,000 a year.
  • At AED 38,000 a year the gross yield on the 2017 price is 10.1%, before a service charge of about AED 7,000 a year (AED 17.07 per sqft).
  • Studios in MAG 515 sold for AED 475,000–480,000 in the 12 months to November 2026; the building's median across all types is AED 1,092 per sqft.

Source: Dubai Land Department. Updated 5 December 2024.

Questions about 116, MAG 515

What did unit 116 last sell for?

AED 376,602 on 29 August 2017, sold by the developer: AED 918 per sqft for 410 sqft. It is the only registered sale of the unit.

What is the rent for unit 116?

AED 38,000 a year on the contract signed on 5 December 2024. The previous contract, from November 2023, was AED 22,000; the unit has been rented since November 2021.

How big is unit 116?

410 sqft (38.1 sqm): a studio on the 1st floor of a 6-storey tower completed in 2020.

What is unit 116 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in MAG 515 sold for AED 475,000 to 480,000 in the last 12 months, around AED 1,210 per sqft.

Selling 116? Put it on the OpenOffers board

Public offers from verified, deposit-backed buyers; a reserve you set; no fee unless it sells, then 1%. Sale agreed in weeks, not months.

How OpenOffers works

Mortgage on 116, MAG 515

Starts from the last sale price (AED 377K, 29 August 2017). Switch to today's estimate once you have unlocked it.
Price
AED 376,602
Deposit, UAE resident (20%)
AED 75,320
Deposit, non-resident (40%)
AED 150,641
Monthly over 25 years at 3.7%
AED 1,541

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