MAG 318, Business Bay
MAG 318 is a 23-storey apartment tower in Business Bay, Dubai, developed by MAG Property Development (MAG Group) and completed in January 2021. It holds 439 studio, one- and two-bedroom units on the Dubai Water Canal. Royale Stays manages Business Bay-area short-term rentals from a fee starting from 15%.
Developer
MAG Property Development (MAG Group)
Building Type
Apartments
Floors
23 storeys
Completed
January 2021
About MAG 318
MAG 318 is a 23-storey residential apartment tower in Business Bay, Dubai, developed by MAG Property Development (MAG Group) and completed in January 2021.
Bayut's own detailed building guide and the developer's mag.global project page confirm MAG 318 as a ground floor plus three podium levels plus 19 residential floors (23 storeys total), holding 439 studio, one- and two-bedroom apartments. Construction began in October 2017, per Propsearch's project data, and Bayut records handover in January 2021.
A SkyscraperCity forum thread describing the completed building cites 20 floors; this most likely counts residential/upper floors only rather than the full ground-plus-podium-plus-residential breakdown Bayut's detailed building guide itemises, and is treated as a counting-convention difference rather than a factual conflict. MAG 318 should not be confused with MAG City, a separate villa and townhouse master community by the same developer in MBR City, or with MAG 218 Tower, a different MAG Group apartment tower in Dubai Marina: all three are distinct, unrelated projects that share only the developer's MAG brand name.
Location & Nearby Landmarks
MAG 318 sits on the Dubai Water Canal in Business Bay, close to Sheikh Zayed Road and Al Khail Road. Downtown Dubai and The Dubai Mall are roughly a 10-minute drive away, with Dubai Marina and Palm Jumeirah around 20 minutes further.
MAG 318 joins Royale Stays' wider Business Bay Building Guide cluster alongside three other canal-facing towers, Onda by Kasco, Avanti Tower and Canal Bay by NED.
MAG 318 falls within Royale Stays' wider Business Bay coverage area, detailed in Airbnb Property Management in Business Bay.
Unit Types
MAG 318 offers 439 units across studio, one- and two-bedroom apartments, with floor plans ranging from around 436 to 1,000 square feet per Bayut's own floor-plan data. Units come with built-in wardrobes, marble flooring, fitted kitchens with cabinets and countertops, private balconies and designated parking, confirmed consistently across Bayut and Metropolitan Premium Properties.
Amenities
Amenities include a shared swimming pool, gymnasium and spa, a common roof deck, a ground-floor retail area with an on-site restaurant, and round-the-clock CCTV security with high-speed elevator access, confirmed across Bayut and Luxhabitat.
Transportation & Access
MAG 318 sits close to Sheikh Zayed Road and Al Khail Road, both major arteries connecting Business Bay to the rest of Dubai. Business Bay Metro Station and the Dubai Water Canal promenade are both within easy reach, with Downtown Dubai, The Dubai Mall and Burj Khalifa roughly a 10-minute drive away.
Rental & Price Trends
Portal listings and market data give a real, current read on MAG 318's rental market rather than an estimate.
Bayut's own rental-market data puts MAG 318 studios at an average of roughly AED 76,342 per year, with all unit types averaging around AED 94,940 per year and a full listed range of about AED 53,000 to AED 160,000 per year depending on size and floor. Property Finder separately lists over 100 active MAG 318 rental listings at any given time, pointing to a liquid, actively-traded rental market rather than a thin one.
Studios originally launched from around AED 750,000 at completion, per Luxhabitat's project data. Current resale and off-plan-resale asking prices vary by unit and floor and are best confirmed with a licensed Dubai broker.
The AED 750,000 studio figure reflects original launch-era pricing rather than a current resale valuation; MAG 318 completed in 2021 and resale prices move with the wider Business Bay market.
STR Income Potential
MAG 318 already has an active short-term rental market in practice, not just a theoretical one.
A dedicated third-party operator, Bespoke Residences & Holiday Homes, markets furnished MAG 318 units directly under the building's name on both Booking.com and Airbnb, and Dubizzle separately lists monthly short-term apartments in the building, confirming live third-party short-term demand rather than an assumption. MAG 318 is a standard MAG Property Development apartment building with no Vida-style short-term-letting prohibition, so a DTCM holiday-home permit routed through the building's management company is the standard path, per Royale Stays' Holiday Home Permit guide.
Royale Stays does not currently have booking data specific to this building, so this guide does not present a building income figure it cannot support. Owners can use the Dubai Property ROI Calculator to model potential returns for a Business Bay studio or one-bedroom unit.
Royale Stays manages short-term rentals across Business Bay for a fee starting from 15%, covering furnishing, photography, pricing, guest communications and maintenance. Owners at MAG 318 can submit their property or reach out via Royale Stays' Airbnb property management service to get started.
No Royale Stays-managed unit or Airbnb listing currently exists at MAG 318. The Bespoke Residences, Airbnb, Booking.com and Dubizzle listings referenced above are third-party activity, independently confirmed via a live SERP pull on 2026-09-05, not part of Royale Stays' own data.
Questions