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2-bed · 669 sqftMAG 515, Dubai South · 5th floor · completed 2020

505, MAG 515

Sold prices and rental history: sold once, by the developer in May 2018, and rented continuously since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 505 · DLD and Ejari recordsUpdated 1 February 2024
Last soldAED 638K7 May 2018
Current rentAED 52K /yr1 February 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 505, MAG 515

What is 505 worth today?

Last sold for AED 638,420 in 2018

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1 Feb 2024RentedNew contract
AED 52,000/yr12 months · AED 78 per sqft
1 Jan 2023RentedRenewal
AED 35,000/yr12 months · AED 52 per sqft
1 Jan 2022RentedNew contract
AED 33,000/yr12 months · AED 49 per sqft
1 Jan 2021RentedNew contract
AED 33,089/yr12 months · AED 50 per sqft
1 Jan 2020RentedNew contract
AED 33,000/yr12 months · AED 49 per sqft
7 May 2018Sold by developerOff-plan
AED 638,420AED 953 per sqft

Source: Dubai Land Department. Updated 1 February 2024.

Key facts

Type
2-bed apartment
Size
669 sqft
Floor
5th of 6
Parking
G-96
Developer
MAG
Completed
2020
Service charge
AED 11,400 /yr
Last sold
AED 638K · May 2018
Building
MAG 515

About 505, MAG 515

505 is a two-bedroom apartment of 669 sqft on the 5th floor of MAG 515, a 6-storey tower in Dubai South completed in 2020 by MAG. The developer sold it on 7 May 2018 for AED 638,420, or AED 953 per sqft, in line with the AED 942 two-beds in the building were fetching at the time.

It has been rented continuously since 2020 on 5 Ejari contracts. The current contract, signed on 1 February 2024, is AED 52,000 a year: a gross yield of 8.2% on the 2018 price, before the service charge of about AED 11,400 a year.

Sales and rents for 505 over time

Sales
Unit 505, each saleTypical two-bed in MAG 515
600K625K201720182019Typical sale price by year: 2017 AED 620,000; 2018 AED 594,000Sold by developer, May 2018: AED 638,420 (AED 953 per sqft)

505 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 505, each contractTypical two-bed in MAG 515
40K60K2020202220242026Typical rent by year: 2020 AED 33,000; 2021 AED 33,000; 2022 AED 31,500; 2023 AED 40,000; 2024 AED 55,000; 2025 AED 60,000; 2026 AED 60,000New contract, January 2020: AED 33,000 a yearNew contract, January 2021: AED 33,089 a yearNew contract, January 2022: AED 33,000 a yearRenewal, January 2023: AED 35,000 a yearNew contract, February 2024: AED 52,000 a year

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

2-beds in MAG 515, and where 505 sits

All 12 2-beds →

505 last sold in May 2018 at AED 953 per sqft, in line with what two-beds in MAG 515 were fetching at the time (AED 942). Over the last 12 months two-beds sold for AED 725,000 to 730,000, around AED 1,090 per sqft, and rent for AED 60,000 to 67,000 a year. 505's AED 52,000 is at the bottom of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
20 Jul 2026730,000
26 Feb 2026725,000
29 Jan 2025667,000
24 May 2024600,000
2 2-bed 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 5th floor

All 132 units in MAG 515
Value
5011-bedAED 550K · Mar 2018
502StudioAED 250K · Sep 2020
503StudioAED 350K · May 2019
5041-bedAED 499K · Nov 2023
5061-bedAED 490K · Jan 2025
507StudioAED 365K · Mar 2018
508StudioAED 346K · Jun 2019
1–7 of 21

505, MAG 515 in numbers

  • Sold once: by MAG on 7 May 2018 for AED 638,420, or AED 953 per sqft.
  • Rented since January 2020 on 5 Ejari contracts, from AED 33,000 to AED 52,000 a year.
  • At AED 52,000 a year the gross yield on the 2018 price is 8.2%, before a service charge of about AED 11,400 a year (AED 17.07 per sqft).
  • Two-beds in MAG 515 sold for AED 725,000–730,000 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 1 February 2024.

Questions about 505, MAG 515

What did unit 505 last sell for?

AED 638,420 on 7 May 2018, sold by the developer: AED 953 per sqft for 669 sqft. It is the only registered sale of the unit.

What is the rent for unit 505?

AED 52,000 a year on the contract signed on 1 February 2024. The previous contract, from January 2023, was AED 35,000; the unit has been rented since January 2020.

How big is unit 505?

669 sqft (62.2 sqm): a two-bedroom apartment on the 5th floor of a 6-storey tower completed in 2020.

What is unit 505 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in MAG 515 sold for AED 725,000 to 730,000 in the last 12 months, around AED 1,090 per sqft.

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Mortgage on 505, MAG 515

Starts from the last sale price (AED 638K, 7 May 2018). Switch to today's estimate once you have unlocked it.
Price
AED 638,420
Deposit, UAE resident (20%)
AED 127,684
Deposit, non-resident (40%)
AED 255,368
Monthly over 25 years at 3.7%
AED 2,612

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