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Studio · 347 sqftMAG 515, Dubai South · 4th floor · completed 2020

408, MAG 515

Sold prices and rental history: sold once, by the developer in August 2017, and rented continuously since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 408 · DLD and Ejari recordsUpdated 25 April 2024
Last soldAED 320K17 August 2017
Current rentAED 26K /yr25 April 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 408, MAG 515

What is 408 worth today?

Last sold for AED 320,000 in 2017

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25 Apr 2024RentedNew contract
AED 26,000/yr12 months · AED 75 per sqft
20 Apr 2023RentedRenewal
AED 20,900/yr12 months · AED 61 per sqft
20 Apr 2022RentedNew contract
AED 19,000/yr12 months · AED 55 per sqft
10 Mar 2021RentedNew contract
AED 17,000/yr12 months · AED 49 per sqft
1 Feb 2020RentedNew contract
AED 20,000/yr12 months · AED 58 per sqft
17 Aug 2017Sold by developerOff-plan
AED 320,000AED 921 per sqft

Source: Dubai Land Department. Updated 25 April 2024.

Key facts

Type
Studio apartment
Size
347 sqft
Floor
4th of 6
Parking
G-76
Developer
MAG
Completed
2020
Service charge
AED 5,900 /yr
Last sold
AED 320K · August 2017
Building
MAG 515

About 408, MAG 515

408 is a studio of 347 sqft on the 4th floor of MAG 515, a 6-storey tower in Dubai South completed in 2020 by MAG. The developer sold it on 17 August 2017 for AED 320,000, or AED 921 per sqft, in line with the AED 921 studios in the building were fetching at the time.

It has been rented continuously since 2020 on 5 Ejari contracts. The current contract, signed on 25 April 2024, is AED 26,000 a year: a gross yield of 8.1% on the 2017 price, before the service charge of about AED 5,900 a year.

Sales and rents for 408 over time

Sales
Unit 408, 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)

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

Rents
Unit 408, 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, February 2020: AED 20,000 a yearNew contract, March 2021: AED 17,000 a yearNew contract, April 2022: AED 19,000 a yearRenewal, April 2023: AED 20,900 a yearNew contract, April 2024: AED 26,000 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 408 sits

All 60 studios →

408 last sold in August 2017 at AED 921 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. 408's AED 26,000 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 4th floor

All 132 units in MAG 515
Value
4011-bedAED 595K · Jul 2024
402StudioAED 460K · Jul 2025
403StudioAED 335K · Apr 2018
4041-bedAED 483K · Sep 2018
4052-bedAED 469K · Jul 2021
4061-bedAED 440K · May 2019
407StudioAED 355K · Oct 2017
1–7 of 21

408, MAG 515 in numbers

  • Sold once: by MAG on 17 August 2017 for AED 320,000, or AED 921 per sqft.
  • Rented since February 2020 on 5 Ejari contracts. The rent fell from AED 20,000 to AED 17,000 in 2021 and recovered to AED 26,000 by April 2024.
  • At AED 26,000 a year the gross yield on the 2017 price is 8.1%, 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 25 April 2024.

Questions about 408, MAG 515

What did unit 408 last sell for?

AED 320,000 on 17 August 2017, sold by the developer: AED 921 per sqft for 347 sqft. It is the only registered sale of the unit.

What is the rent for unit 408?

AED 26,000 a year on the contract signed on 25 April 2024. The previous contract, from April 2023, was AED 20,900; the unit has been rented since February 2020.

How big is unit 408?

347 sqft (32.2 sqm): a studio on the 4th floor of a 6-storey tower completed in 2020.

What is unit 408 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 408, MAG 515

Starts from the last sale price (AED 320K, 17 August 2017). Switch to today's estimate once you have unlocked it.
Price
AED 320,000
Deposit, UAE resident (20%)
AED 64,000
Deposit, non-resident (40%)
AED 128,000
Monthly over 25 years at 3.7%
AED 1,309

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