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Studio · 347 sqftMAG 515, Dubai South · 3rd floor · completed 2020

308, MAG 515

Sold prices and rental history: sold twice, last in April 2023, and rented continuously since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 308 · DLD and Ejari recordsUpdated 15 May 2026
Last soldAED 270K6 April 2023
Current rentAED 25K /yr15 May 2026
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 308, MAG 515

What is 308 worth today?

Last sold for AED 270,000 in 2023

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15 May 2026RentedNew contract
AED 25,000/yr12 months · AED 72 per sqft
12 Apr 2024RentedRenewal
AED 24,000/yr12 months · AED 70 per sqft
12 Apr 2023RentedNew contract
AED 20,000/yr12 months · AED 58 per sqft
6 Apr 2023SoldReady
AED 270,000AED 777 per sqft
12 Apr 2022RentedNew contract
AED 19,000/yr12 months · AED 55 per sqft
2 Apr 2021RentedNew contract
AED 17,000/yr12 months · AED 49 per sqft
5 Mar 2020RentedNew contract
AED 18,000/yr12 months · AED 52 per sqft
17 Aug 2017Sold by developerOff-plan
AED 320,000AED 921 per sqft

Source: Dubai Land Department. Updated 15 May 2026.

Key facts

Type
Studio apartment
Size
347 sqft
Floor
3rd of 6
Parking
G-54
Developer
MAG
Completed
2020
Service charge
AED 5,900 /yr
Last sold
AED 270K · April 2023
Building
MAG 515

About 308, MAG 515

308 is a studio of 347 sqft on the 3rd floor of MAG 515, a 6-storey tower in Dubai South completed in 2020 by MAG. It last sold on 6 April 2023 for AED 270,000, or AED 777 per sqft, 6% above the AED 732 studios in the building were fetching at the time.

It has been rented continuously since 2020 on 6 Ejari contracts. The current contract, signed on 15 May 2026, is AED 25,000 a year: a gross yield of 9.3% on the 2023 price, before the service charge of about AED 5,900 a year.

Sales and rents for 308 over time

Sales
Unit 308, 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 320,000 (AED 921 per sqft)Sold, April 2023: AED 270,000 (AED 777 per sqft)

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

Rents
Unit 308, 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, March 2020: AED 18,000 a yearNew contract, April 2021: AED 17,000 a yearNew contract, April 2022: AED 19,000 a yearNew contract, April 2023: AED 20,000 a yearRenewal, April 2024: AED 24,000 a yearNew contract, May 2026: AED 25,000 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 308 sits

All 60 studios →

308 last sold in April 2023 at AED 777 per sqft, 6% above what studios in MAG 515 were fetching at the time (AED 732). 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. 308's AED 25,000 is at the bottom 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 3rd floor

All 132 units in MAG 515
Value
3011-bedAED 490K · May 2024
302StudioAED 390K · Jan 2018
303StudioAED 415K · May 2025
3041-bedAED 470K · Sep 2018
3052-bedAED 725K · Feb 2026
3061-bedAED 448K · Mar 2018
307StudioAED 400K · Dec 2024
1–7 of 21

308, MAG 515 in numbers

  • Sold twice: first on 17 August 2017 for AED 320,000, last on 6 April 2023 for AED 270,000 (AED 777 per sqft).
  • Rented since March 2020 on 6 Ejari contracts, from AED 18,000 to AED 25,000 a year.
  • At AED 25,000 a year the gross yield on the 2023 price is 9.3%, before a service charge of about AED 5,900 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 15 May 2026.

Questions about 308, MAG 515

What did unit 308 last sell for?

AED 270,000 on 6 April 2023: AED 777 per sqft for 347 sqft. The unit has 2 registered sales; the first was AED 320,000 in August 2017.

What is the rent for unit 308?

AED 25,000 a year on the contract signed on 15 May 2026. The previous contract, from April 2024, was AED 24,000; the unit has been rented since March 2020.

How big is unit 308?

347 sqft (32.2 sqm): a studio on the 3rd floor of a 6-storey tower completed in 2020.

What is unit 308 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 308, MAG 515

Starts from the last sale price (AED 270K, 6 April 2023). Switch to today's estimate once you have unlocked it.
Price
AED 270,000
Deposit, UAE resident (20%)
AED 54,000
Deposit, non-resident (40%)
AED 108,000
Monthly over 25 years at 3.7%
AED 1,105

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