Mag 318 in Business Bay - Dubai residental property project

Cap rates, sales prices, rents and deal volumes

Sales prices for completed properties in Mag 318

Rooms	Size, sqm	Sale price, AED/sqm	Sale price, AED
Studio	41	27,160	1,111,667

Rents in Mag 318

Rooms	Size, sqm	Rent, AED/sqm/ year	Rent, AED
Studio	41	1,894	77,100
1	77	1,576	121,750
2	107	1,425	152,500

The cap rate (rental yield) of investments into Mag 318 project is 6.2% on average.

The price of an apartment in Mag 318 is 27,160 AED/sqm on average.

The long term rent of an apartment in Mag 318 is 1,681 AED/sqm/year on average.

Price for completed Studio apartment in Mag 318 is 1,111,667 AED or 27,160 AED/sqm.

Rent for Studio apartment in Mag 318 is 77,100 AED or 1,894 AED/sqm.
Rent for 1 bedroom apartment in Mag 318 is 121,750 AED or 1,576 AED/sqm.
Rent for 2 bedroom apartment in Mag 318 is 152,500 AED or 1,425 AED/sqm.

About Mag 318

'Mag 318' in 'Business Bay' area project description

Mag 318 is a residential development located in the heart of Dubai, United Arab Emirates. It is a high-rise tower with a total of 318 apartments, ranging from studio, one, two, and three bedroom units. The project is a joint venture between MAG Lifestyle Development and the Dubai Properties Group, and it is situated in the Jumeirah Village Circle (JVC) area of Dubai.

The project was launched in 2018 and is expected to be completed by the end of 2021. The tower is designed to be an iconic landmark in the city, with its modern, contemporary architecture and stunning views of the Dubai skyline. The tower is also designed to be environmentally friendly, with energy-efficient lighting, water-saving fixtures, and sustainable materials used throughout the building.

The apartments are designed to be spacious and luxurious, with floor-to-ceiling windows, balconies, and modern interiors. The building also features a range of amenities, such as a swimming pool, gym, sauna, and steam room, as well as a variety of shops and restaurants.

The project is located in a prime location, close to the Dubai Marina, Jumeirah Beach, and the Palm Jumeirah. It is also close to a range of shopping malls, restaurants, and entertainment venues. The area is well-connected to the rest of the city, with easy access to public transport, such as the Dubai Metro and the Dubai Tram.

Overall, Mag 318 is a luxurious residential development located in the heart of Dubai. It is designed to be an iconic landmark in the city, with its modern architecture and stunning views of the Dubai skyline. The project is also designed to be environmentally friendly, with energy-efficient lighting, water-saving fixtures, and sustainable materials used throughout the building. The apartments are spacious and luxurious, and the building features a range of amenities, such as a swimming pool, gym, sauna, and steam room. The project is located in a prime location, close to the Dubai Marina, Jumeirah Beach, and the Palm Jumeirah.

Q&A on Mag 318

What are the advantages of 'Mag 318' project in Dubai for property buyers? What are the disadvantages?

1. Prime Location: The Mag 318 project is located in the heart of Dubai, close to the city’s major attractions and business districts. This makes it an ideal choice for real estate buyers looking for a convenient and central location.

2. Quality Construction: The project is being developed by MAG Property Development, a leading real estate developer in the region. This ensures that the project is built to the highest standards of quality and safety.

3. Affordable Prices: Mag 318 offers competitive prices for its apartments, making it an attractive option for real estate buyers on a budget.

4. Amenities: The project offers a range of amenities to its residents, including a gym, swimming pool, and a variety of shops and restaurants.

5. Investment Potential: The project is located in a rapidly developing area of Dubai, making it a great option for real estate buyers looking to invest in the city’s future.

What projects are better than 'Mag 318' project in Dubai which are located close by, and why?

1. The Opus by Omniyat
- Architecture: Designed by the world-renowned architect Zaha Hadid, it stands out with its unique and futuristic design.
- Amenities: Offers a mix of residential and office spaces, fine dining, rooftop lounges, and a boutique hotel.
- Proximity: Centrally located in Business Bay, close to Dubai Mall and Burj Khalifa.

2. PARAMOUNT Tower Hotel & Residences
- Luxury Living: Hollywood-themed interiors providing a unique living experience.
- Facilities: High-end amenities including a rooftop infinity pool, wellness center, and multiple dining options.
- Investment Potential: Backed by Paramount Pictures, ensuring a strong and recognizable brand appeal.

3. Executive Towers
- Comprehensive Development: Offers residential, commercial, and retail spaces within the same complex.
- Community Feel: Complete with landscaped gardens, jogging tracks, and multiple recreational facilities.
- Convenience: Direct access to the Business Bay metro station providing easy connectivity to other parts of Dubai.

4. Emaar's "The Atria"
- Dual Purpose: Comprises of residential units and hotel apartments managed by the prestigious Millennium Hotels.
- Design and Comfort: Modern design with high-end finishes and spectacular canal views.
- Amenities: Extensive amenities including a luxury spa, a fine dining restaurant, and retail shops.

5. Noor Tower by Al Habtoor
- Sky Gardens and Pools: Unique sky garden concept along with private pools for certain units.
- Location Advantage: Adjacent to Sheikh Zayed Road offering swift connectivity.
- Lifestyle Features: Offering exclusive lifestyle amenities like a tennis academy and a marina.

6. DAMAC Towers by Paramount Hotels & Resorts
- Brand Association: Partnership with Paramount ensures unique movie-themed living experiences.
- Extensive Amenities: Including multiple dining options, wellness centers, and kids' entertainment facilities.
- Glamour: Themed decor and luxurious finishes provide an exceptional living standard.