401, MAG 550
Sold prices and rental history: sold once, by the developer in October 2018, and rented continuously since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 401, MAG 550
What is 401 worth today?
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Source: Dubai Land Department. Updated 1 August 2024.
Key facts
- Type
- 2-bed apartment
- Size
- 1,040 sqft
- Floor
- 4th of 6
- Parking
- G-44
- Developer
- MAG
- Completed
- 2020
- Service charge
- AED 17,300 /yr
- Last sold
- AED 690K · October 2018
- Building
- MAG 550
About 401, MAG 550
401 is a two-bedroom apartment of 1,040 sqft on the 4th floor of MAG 550, a 6-storey tower in Dubai South completed in 2020 by MAG. The developer sold it on 16 October 2018 for AED 690,000, or AED 663 per sqft, 5% below the AED 698 two-beds in the building were fetching at the time.
It has been rented continuously since 2019 on 6 Ejari contracts. The current contract, renewed on 1 August 2024, is AED 57,000 a year: a gross yield of 8.3% on the 2018 price, before the service charge of about AED 17,300 a year.
Sales and rents for 401 over time
401 has sold once; the dashed line is the two-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in MAG 550, and where 401 sits
All 24 2-beds →401 last sold in October 2018 at AED 663 per sqft, 5% below what two-beds in MAG 550 were fetching at the time (AED 698). Over the last 12 months two-beds sold for AED 990,000 to 1,100,000, around AED 1,035 per sqft, and rent for AED 55,000 to 80,000 a year. 401's AED 57,000 is in the lower half of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 26 Oct 202626 October 2026 | 965 sqft | 999,000 | 1,035 | ||
| 17 Dec 202517 December 2025 | 965 sqft | 1,100,000 | 1,139 | ||
| 12 Dec 202512 December 2025 | 1,005 sqft | 990,000 | 985 | ||
| 17 Dec 202417 December 2024 | 965 sqft | 926,100 | 959 |
MAG 550
Building86 apartments, studios to 3-bed over 6 floors in Dubai South, completed in 2020 by MAG. 6 sold in the last 12 months.
- Typical price per sqft
- AED 1,062
- Typical sale
- AED 870K
- Typical rent
- AED 53K /yr
- Typical yield
- 7.6%
Other units on the 4th floor
All 86 units in MAG 550| ValueToday's value | |||||
|---|---|---|---|---|---|
| 402 | 1-bed | 655 sqft | AED 573KAED 573,203 · Jul 2016July 2016 | 49,000 /yr | |
| 403 | Studio | 476 sqft | AED 313KAED 312,700 · Sep 2022September 2022 | 37,000 /yr | |
| 404 | 1-bed | 642 sqft | AED 630KAED 630,000 · Apr 2025April 2025 | 56,000 /yr | |
| 405 | 2-bed | 1,005 sqft | No registered sale | 75,000 /yr | |
| 406 | 1-bed | 655 sqft | AED 573KAED 573,203 · Jul 2016July 2016 | 28,000 /yr | |
| 407 | Studio | 473 sqft | AED 312KAED 312,000 · Oct 2022October 2022 | 30,800 /yr | |
| 408 | 1-bed | 642 sqft | AED 700KAED 700,000 · Jul 2025July 2025 | 60,000 /yr | |
| 409 | 1-bed | 638 sqft | AED 440KAED 440,000 · Jul 2023July 2023 | 32,813 /yr | |
| 410 | 1-bed | 638 sqft | AED 516KAED 515,555 · Dec 2016December 2016 | 52,000 /yr | |
| 411 | 1-bed | 634 sqft | AED 450KAED 450,000 · Oct 2023October 2023 | 50,000 /yr | |
| 412 | 1-bed | 635 sqft | AED 524KAED 524,000 · Mar 2018March 2018 | 42,000 /yr | |
| 413 | 2-bed | 965 sqft | AED 674KAED 674,000 · Sep 2018September 2018 | 72,000 /yr | |
| 414 | 2-bed | 965 sqft | AED 674KAED 674,000 · Sep 2018September 2018 | 70,000 /yr |
401, MAG 550 in numbers
- Sold once: by MAG on 16 October 2018 for AED 690,000, or AED 663 per sqft.
- Rented since May 2019 on 6 Ejari contracts. The rent fell from AED 55,000 to AED 38,000 in 2021 and recovered to AED 57,000 by August 2024.
- At AED 57,000 a year the gross yield on the 2018 price is 8.3%, before a service charge of about AED 17,300 a year (AED 16.63 per sqft).
- Two-beds in MAG 550 sold for AED 990,000–1,100,000 in the 12 months to November 2026; the building's median across all types is AED 1,062 per sqft.
Source: Dubai Land Department. Updated 1 August 2024.
Questions about 401, MAG 550
What did unit 401 last sell for?
AED 690,000 on 16 October 2018, sold by the developer: AED 663 per sqft for 1,040 sqft. It is the only registered sale of the unit.
What is the rent for unit 401?
AED 57,000 a year on the contract renewed on 1 August 2024. The previous contract, from August 2023, was AED 54,000; the unit has been rented since May 2019.
How big is unit 401?
1,040 sqft (96.6 sqm): a two-bedroom apartment on the 4th floor of a 6-storey tower completed in 2020.
What is unit 401 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in MAG 550 sold for AED 990,000 to 1,100,000 in the last 12 months, around AED 1,035 per sqft.
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Mortgage on 401, MAG 550
Starts from the last sale price (AED 690K, 16 October 2018). Switch to today's estimate once you have unlocked it.- Price
- AED 690,000
- Deposit, UAE resident (20%)
- AED 138,000
- Deposit, non-resident (40%)
- AED 276,000
- Monthly over 25 years at 3.7%
- AED 2,823
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →