For owners
Holiday Homes in MAG 318, Business Bay
4 min read
MAG 318 is one of the Business Bay towers where fäm Living already runs holiday homes. If you own a studio, one-bedroom or two-bedroom apartment here, this is how we would run it for you, by the night and by the month, while you keep the ownership and the income.
The building
MAG 318 is a residential tower in Business Bay, developed by MAG and completed in 2020. Most of its homes are studios, with one and two-bedroom apartments as well. Residents share a pool and gym, with central air conditioning, covered and valet parking, and building security.
It sits close to Downtown Dubai, so The Dubai Mall and the Burj Khalifa are a short ride away, and so are the offices that fill Business Bay on weekdays.
Different homes, different guests
Because MAG 318 has more than one size of home, it draws more than one kind of guest. Studios suit solo travellers, couples and people working in the city for a few weeks. One-bedroom apartments suit a couple who want a separate bedroom for a longer stay. Two-bedroom apartments suit a small family or two colleagues travelling together.
We price and describe each home for the guest it suits best. A two-bedroom apartment is marketed to families in the school holidays and to companies sending two people at once; a studio is marketed to the solo traveller and the remote worker. Treating them all the same leaves money on the table.
Why Business Bay works as a holiday home location
Holiday guests book Business Bay for the location and the views. Business travellers book on weekdays and outside the holiday season, often for weeks or months at a time. Together they keep a calendar fuller through the year than either group would alone.
Valet parking and a gym matter more than owners expect. Guests who rent a car look for parking before they book, and anyone staying a month wants a gym downstairs.
We already know the building
fäm Living runs studios, one-bedroom and two-bedroom apartments in MAG 318 today. We know how guest access works with the building, how the management office prefers to be contacted, which layouts and views guests ask for, and what the building's own rules say about short stays.
For an owner that shortens everything. We do not need to learn the tower before your first guest arrives, and our team in the area can reach the building quickly when something needs attention.
What we do for an owner here
We register your apartment for its holiday home permit with the Department of Economy and Tourism, help furnish it to a standard that photographs well and lasts, carry out a full inventory, photograph it properly, and list it on our own site and the major platforms.
Then we run it. Pricing moves with the season, Dubai's event calendar and the length of each stay. Every guest is checked before arrival and looked after during the stay. The home is cleaned and the linen changed between every booking, and maintenance is handled before it becomes your problem.
You see every booking, statement and payout in the owner portal, and you can block your own dates whenever you want to use the apartment yourself.
Getting a larger apartment ready
A one or two-bedroom apartment needs a little more thought than a studio. Every bedroom needs a good bed and blackout curtains, the living room needs enough seating for everyone the apartment sleeps, and the kitchen and dining table need to work for a family meal, not just a coffee.
Unfurnished is fine, because furnishing is part of what we do. We tell you what we would buy, and why, before anything is ordered.
Nightly, monthly or both
A home in this tower can earn from short stays and from month-long guests working in Business Bay. We run each unit on whichever pays better at the time, and many do best with a mix: nightly stays in the busy winter season, monthly guests the rest of the year.
A month-long guest in a licensed holiday home is a booking, not a tenancy. There is no tenancy contract to register, and the apartment comes back to you when the stay ends.
Before you decide
What your apartment could earn depends on its size, floor, view and condition, and on the season. We quote from what comparable homes have actually booked rather than from a rule of thumb, and we set our terms out in writing after a free consultation, before you sign anything.
If your apartment is let to a yearly tenant today, we can plan the switch for when the tenancy ends. If it is empty, we can usually start with the permit and furnishing straight away.