Dubai Hills
Mag Eye Phase 1
ماج آي المرحلة 1MAG EYE REAL ESTATE DEVELOPMENT - FZ · Selling since 2018 · recent sales mostly resales
The Land Department’s record
completed per DLD · 100% complete · villa complex · 904 units · 8 buildings · 694 villas · 48 plots · DLD target completion February 2023
Registered developer: MAG EYE REAL ESTATE DEVELOPMENT - FZ (DLD no. 1225)
Master developer: MEYDAN GROUP (L.L.C) (DLD no. 1181)
Escrow account with Emirates NBD · Zoned by Dubai Municipality
From the Land Department’s projects file published 15 June 2026. These are the register’s own entries, not a status we determined, and they change only when DLD republishes the file. An escrow account being recorded is not an assurance about the project.
Median per sqft
AED 1,551/sqft
3yr CAGR · resales
—
Resale record
31 months
Registered resales here span 31 months. The CAGR beside this is drawn from them; a figure for what they will do next is a scenario you set on the returns page.
Registered DLD sales · medians, not estimates · how we compute this
What would this size cost?
Enter the size from the brochure or the floor plan. We price it against what homes of that size actually registered at in Mag Eye Phase 1 — not an asking price, and not this project’s overall median, which mixes every unit size together.
Price per sqft trend
What it returns
A year’s rent against what completed homes of that size actually sold for in Mag Eye Phase 1 over the same twelve months. Prices are this project’s own registered ready sales; off-plan sales are left out because rent is paid on built homes. Rents marked this building are registered new tenancies in Mag Eye Phase 1 itself; the rest are homes of the same size in Dubai Hills, used where Ejari did not name the building.
| Size | Costs now, ready | Rents for | Gross yield | Ready sales, 12m |
|---|---|---|---|---|
| Studio | AED 770K | AED 58,000/yrsame size in Dubai Hills | 7.5% | 39 |
| 1 bed | AED 1.35M | AED 110,000/yrsame size in Dubai Hills | 8.1% | 28 |
| 2 beds | AED 3M | AED 155,000/yrsame size in Dubai Hills | 5.2% | 17 |
| 3 beds | AED 3.73M | AED 200,000/yrsame size in Dubai Hills | 5.4% | 14 |
Why this is lower than yields quoted elsewhere
The usual shortcut divides today’s rent by an average price — and in a market that has risen as far as Dubai’s, the average is a historical price. On that arithmetic a studio here reads 11.2% instead of 7.5%, because it prices the home at AED 516.15K — the median across every sale on record — rather than the AED 770K a completed one costs today. Every figure above uses the same twelve months, and completed homes only, on both sides.
What it returns after service charges
We hold no filed budget for this one, so this starts from a placeholder rather than a measurement — it’s on the service charge invoice, or on RERA’s Service Charge Index. How to check it.
| Size | Charge / year | Rent after it | Gross | Net |
|---|---|---|---|---|
| Studio | AED 6,239 | AED 51,761 | 7.5% | 6.7% |
| 1 bed | AED 12,029 | AED 97,971 | 8.1% | 7.3% |
| 2 beds | AED 17,799 | AED 137,201 | 5.2% | 4.6% |
| 3 beds | AED 21,907 | AED 178,093 | 5.4% | 4.8% |
Still not the final number: agency commission on re-letting, and any month the home sits empty, both come out of net rent too. This subtracts the service charge only, because it is the one cost that is the same every year whether or not the home is let.
Gross yield: rent before costs. Service charges, agency commission, and any month the home sits empty all come out of it — in Dubai the service charge alone is commonly a fifth to a third of the rent, so treat these as the ceiling rather than the return.
Common questions about Mag Eye Phase 1
How much does a home in Mag Eye Phase 1 cost?
Over the last twelve months a completed studio in Mag Eye Phase 1 sold for a median AED 770K (39 ready sales), a 1-bedroom for AED 1.35M (28 ready sales), a 2-bedroom for AED 3M (17 ready sales), a 3-bedroom for AED 3.73M (14 ready sales). These are medians of sales actually registered with the Dubai Land Department, not asking prices. Completed homes only — off-plan registrations are left out, because they sell at a premium and are not the same purchase.
How much is rent in Mag Eye Phase 1?
A studio rents for a median AED 58,000/yr (homes of about that size in Dubai Hills, 319 new tenancies), a 1-bedroom rents for a median AED 110,000/yr (homes of about that size in Dubai Hills, 619 new tenancies), a 2-bedroom rents for a median AED 155,000/yr (homes of about that size in Dubai Hills, 285 new tenancies), a 3-bedroom rents for a median AED 200,000/yr (homes of about that size in Dubai Hills, 390 new tenancies). These are medians of new tenancy contracts registered with Ejari over the last twelve months — what tenants agreed to pay, not advertised asking rents. Ejari names the building on only about one contract in five, and on none that match Mag Eye Phase 1, so every figure above is the rent for homes of that size in Dubai Hills — the area's rent, not this project's own.
What rental yield does Mag Eye Phase 1 give?
Gross yields on completed homes in Mag Eye Phase 1 run about 7.5% on a studio, 8.1% on a 1-bedroom, 5.2% on a 2-bedroom, 5.4% on a 3-bedroom, dividing a year of registered rent by what completed homes of that size actually sold for over the same twelve months. Both halves cover the same period, which is why these read lower than yields quoted against an all-time average price. They are gross figures: service charges, agency commission and void periods are not deducted, and in Dubai the service charge alone commonly takes a fifth to a third of the rent.
Is Mag Eye Phase 1 selling off-plan or as resales?
0% of the 112 sales registered in Mag Eye Phase 1 in its most recent twelve months of trading were off-plan, and the rest were completed homes. That window ends at this project's own newest registered sale rather than today, so a development that finished selling years ago still reports the year it was actually trading.
When did Mag Eye Phase 1 start selling?
The Land Department's register holds 2,323 sales in Mag Eye Phase 1, the earliest registered in 2018. That is when a sale here was first recorded, which is not the same as when the project launched or completed — the transaction register carries no build date, so we do not publish one.
Due diligence
Price vs. Dubai Hills median
-30.5%
Priced at or below the area's real median.
Developer track record
2,369 real transactions
1 completed · 0 off-plan/in progress
Full track record →Verify before you commit
Permit, title, broker license, escrow — the free official checks.
Verification guide →Handover competition
Low competitionWhen Mag Eye Phase 1 completed in February 2023, 0 other other projects in Hadaeq Sheikh Mohammed Bin Rashid were also completing within 6 months — a useful reference point for how crowded the handover window actually was. Separately, 23 more other projects in Hadaeq Sheikh Mohammed Bin Rashid are still in the pipeline overall.
What's around this property
Transport, schools, healthcare, and daily essentials within 3 km.
Nearest school
606 m
GEMS International School, Al Khail
Nearest hospital
929 m
Kings Hospital
Nearest supermarket
1.3 km
Carrefour Market
Schools
- GEMS International School, Al Khail606 m
- GEMS New Millenium School636 m
- GEMS Wellington Academy765 m
Hospitals & clinics
- Kings Hospital929 m
Supermarkets
- Carrefour Market1.3 km
- Jubilee Supermarket1.4 km
- Spinneys1.5 km
- Abdula Grocery1.5 km
Bus stops
- AL quoz 21.2 km
- Ducast Factory1.6 km
- Le Meridien Hotel Accomodation1.6 km
- Le Meridien Hotel Accomodation1.6 km
Pharmacies
- Nahdi Pharmacy1.4 km
Malls
- Dubai Hills Mall2.8 km
- Grand City Mall3.0 km
Parks
- Enoc Park1.5 km
- enoc park1.6 km
- enoc Park1.6 km
- Dubai Hills Park1.7 km
Mosques
- Al Qouz Mini Mosque1.5 km
- Al Khail Mosque at Phase 12.8 km
- Al Khail Gate Mosque2.8 km
- Masjid Aysha2.9 km
Straight-line distances — actual walking or driving routes will be longer. Measured from the centre of Hadaeq Sheikh Mohammed Bin Rashid — we couldn't pin this project's exact address, so treat these as area-level, not door-to-door. Places data from OpenStreetMap.
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Buildings in this project
Priced from each tower’s own registered sales, rather than the project median above.
Other projects in Hadaeq Sheikh Mohammed Bin Rashid
Buying in Mag Eye Phase 1?
Everything above is free and stays free. What this page cannot tell you is what your unit is worth — the median here covers every size at once, and a two-bedroom can be 1,062 or 1,558 sqft. Our report matches comparable sales to one unit's size, and adds the three checks that need a person to open an official system on the day: the agent's licence, the project's escrow, and its registered status.
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