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Studio · 410 sqftMAG 515, Dubai South · 6th floor · completed 2020

616, MAG 515

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

Unit 616 · DLD and Ejari recordsUpdated 22 January 2024
Last soldAED 340K22 January 2024
Current rentAED 29K /yr23 December 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 616, MAG 515

What is 616 worth today?

Last sold for AED 340,000 in 2024

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22 Jan 2024SoldReady
AED 340,000AED 828 per sqft
23 Dec 2023RentedNew contract
AED 29,492/yr2 months · AED 72 per sqft
1 Nov 2022RentedNew contract
AED 22,000/yr12 months · AED 54 per sqft
5 Jul 2021RentedNew contract
AED 23,000/yr12 months · AED 56 per sqft
24 Jul 2018Sold by developerOff-plan
AED 371,280AED 905 per sqft

Source: Dubai Land Department. Updated 22 January 2024.

Key facts

Type
Studio apartment
Size
410 sqft
Floor
6th of 6
Parking
G-129
Developer
MAG
Completed
2020
Service charge
AED 7,000 /yr
Last sold
AED 340K · January 2024
Building
MAG 515

About 616, MAG 515

616 is a studio of 410 sqft on the 6th floor of MAG 515, a 6-storey tower in Dubai South completed in 2020 by MAG. It last sold on 22 January 2024 for AED 340,000, or AED 828 per sqft, in line with the AED 828 studios in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, signed on 23 December 2023, is AED 29,492 a year: a gross yield of 8.7% on the 2024 price, before the service charge of about AED 7,000 a year.

Sales and rents for 616 over time

Sales
Unit 616, 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, July 2018: AED 371,280 (AED 905 per sqft)Sold, January 2024: AED 340,000 (AED 828 per sqft)

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

Rents
Unit 616, 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, July 2021: AED 23,000 a yearNew contract, November 2022: AED 22,000 a yearNew contract, December 2023: AED 29,492 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 616 sits

All 60 studios →

616 last sold in January 2024 at AED 828 per sqft, in line with what studios in MAG 515 were fetching at the time (AED 828). 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. 616's AED 29,492 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 6th floor

All 132 units in MAG 515
Value
6011-bedAED 600K · May 2026
602StudioAED 360K · Apr 2019
603StudioAED 300K · Jul 2017
6041-bedAED 400K · Jul 2017
6052-bedAED 600K · May 2024
6061-bedAED 450K · May 2019
607StudioAED 360K · Jun 2024
1–7 of 21

616, MAG 515 in numbers

  • Sold twice: first on 24 July 2018 for AED 371,280, last on 22 January 2024 for AED 340,000 (AED 828 per sqft).
  • Rented since July 2021 on 3 Ejari contracts, from AED 23,000 to AED 29,492 a year.
  • At AED 29,492 a year the gross yield on the 2024 price is 8.7%, 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 22 January 2024.

Questions about 616, MAG 515

What did unit 616 last sell for?

AED 340,000 on 22 January 2024: AED 828 per sqft for 410 sqft. The unit has 2 registered sales; the first was AED 371,280 in July 2018.

What is the rent for unit 616?

AED 29,492 a year on the contract signed on 23 December 2023. The previous contract, from November 2022, was AED 22,000; the unit has been rented since July 2021.

How big is unit 616?

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

What is unit 616 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 616, MAG 515

Starts from the last sale price (AED 340K, 22 January 2024). Switch to today's estimate once you have unlocked it.
Price
AED 340,000
Deposit, UAE resident (20%)
AED 68,000
Deposit, non-resident (40%)
AED 136,000
Monthly over 25 years at 3.7%
AED 1,391

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