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Studio · 437 sqftMAG 515, Dubai South · 1st floor · completed 2020

118, MAG 515

Sold prices and rental history: sold twice, last in October 2024, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 118 · DLD and Ejari recordsUpdated 21 July 2026
Last soldAED 425K11 October 2024
Current rentAED 42K /yr21 July 2026
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 118, MAG 515

What is 118 worth today?

Last sold for AED 425,000 in 2024

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21 Jul 2026RentedRenewal
AED 42,000/yr12 months · AED 96 per sqft
21 Jul 2025RentedRenewal
AED 42,000/yr12 months · AED 96 per sqft
25 Nov 2024RentedRenewal
AED 30,508/yr8 months · AED 70 per sqft
11 Oct 2024SoldReady
AED 425,000AED 972 per sqft
25 Nov 2023RentedRenewal
AED 27,000/yr12 months · AED 62 per sqft
25 Nov 2022RentedNew contract
AED 20,000/yr12 months · AED 46 per sqft
25 Nov 2021RentedNew contract
AED 20,000/yr12 months · AED 46 per sqft
18 Aug 2019Sold by developerOff-plan
AED 396,605AED 907 per sqft

Source: Dubai Land Department. Updated 21 July 2026.

Key facts

Type
Studio apartment
Size
437 sqft
Floor
1st of 6
Parking
G-18
Developer
MAG
Completed
2020
Service charge
AED 7,500 /yr
Last sold
AED 425K · October 2024
Building
MAG 515

About 118, MAG 515

118 is a studio of 437 sqft on the 1st floor of MAG 515, a 6-storey tower in Dubai South completed in 2020 by MAG. It last sold on 11 October 2024 for AED 425,000, or AED 972 per sqft, 5% above the AED 925 studios in the building were fetching at the time.

It has been rented continuously since 2021 on 6 Ejari contracts. The current contract, renewed on 21 July 2026, is AED 42,000 a year: a gross yield of 9.9% on the 2024 price, before the service charge of about AED 7,500 a year.

Sales and rents for 118 over time

Sales
Unit 118, 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 2019: AED 396,605 (AED 907 per sqft)Sold, October 2024: AED 425,000 (AED 972 per sqft)

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

Rents
Unit 118, each contractTypical studio in MAG 515
20K40K2020202220242026Typical 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 20,000 a yearNew contract, November 2022: AED 20,000 a yearRenewal, November 2023: AED 27,000 a yearRenewal, November 2024: AED 30,508 a yearRenewal, July 2025: AED 42,000 a yearRenewal, July 2026: AED 42,000 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 118 sits

All 60 studios →

118 last sold in October 2024 at AED 972 per sqft, 5% above what studios in MAG 515 were fetching at the time (AED 925). 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. 118's AED 42,000 is in the upper 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

118, MAG 515 in numbers

  • Sold twice: first on 18 August 2019 for AED 396,605, last on 11 October 2024 for AED 425,000 (AED 972 per sqft).
  • Rented since November 2021 on 6 Ejari contracts, from AED 20,000 to AED 42,000 a year.
  • At AED 42,000 a year the gross yield on the 2024 price is 9.9%, before a service charge of about AED 7,500 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 21 July 2026.

Questions about 118, MAG 515

What did unit 118 last sell for?

AED 425,000 on 11 October 2024: AED 972 per sqft for 437 sqft. The unit has 2 registered sales; the first was AED 396,605 in August 2019.

What is the rent for unit 118?

AED 42,000 a year on the contract renewed on 21 July 2026. The previous contract, from July 2025, was AED 42,000; the unit has been rented since November 2021.

How big is unit 118?

437 sqft (40.6 sqm): a studio on the 1st floor of a 6-storey tower completed in 2020.

What is unit 118 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.

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Mortgage on 118, MAG 515

Starts from the last sale price (AED 425K, 11 October 2024). Switch to today's estimate once you have unlocked it.
Price
AED 425,000
Deposit, UAE resident (20%)
AED 85,000
Deposit, non-resident (40%)
AED 170,000
Monthly over 25 years at 3.7%
AED 1,739

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