Mag Eye Phase 1 service charge
The 2026 service charge at Mag Eye Phase 1 is AED 4.59 per sqft per year for residential units, up 49.0% since 2024. That is AED 4,131 a year on a 900 sqft apartment — about AED 344 a month.
Source: Dubai Land Department owners association register (2026 approved budget), read 26 September 2026.
What it costs by unit size
Multiply AED 4.59 by your own built-up area for the exact figure, or use the service charge calculator to see what it does to your yield.
Where the money goes
The 2026 approved budget, per sqft.
| Shared Services | AED 1.84 | |
| Services | AED 1.53 | |
| Management Services | AED 0.76 | |
| Reserved Fund | AED 0.18 | |
| Maintenance | AED 0.18 | |
| Improvement | AED 0.1 | |
| Total | AED 4.59 |
Service charge history
Every approved budget on record for Mag Eye Phase 1. This is the part no other Dubai property site publishes — a rate that has jumped repeatedly is worth asking the owners' association about before you buy.
How it compares in Meydan
The median across 117 buildings in Meydan is AED 21.65 per sqft, ranging from AED 2.45 to AED 32.52. Mag Eye Phase 1 is 79% below the median.
Questions owners ask
What is the service charge at Mag Eye Phase 1?
Mag Eye Phase 1 has a RERA-approved service charge of AED 4.59 per square foot per year for 2026 (Residential units). On a 900 sqft apartment that is AED 4,131 a year, or about AED 344 a month.
What does that service charge pay for?
The approved budget splits into 6 categories, the largest being Shared Services at AED 1.84, Services at AED 1.53, Management Services at AED 0.76 per sqft. Service charges cover common-area maintenance, cleaning, security, insurance, shared utilities, management fees and a reserve fund for major works.
Is this the figure I will actually be billed?
It is the rate RERA approved for the building budget, which is what your owners' association bills against, multiplied by your unit's built-up area. Invoicing is usually quarterly through Mollak. Your own invoice can differ if your unit has a different usage type — parking and retail are budgeted separately — so check your Mollak statement for the exact amount.
Has the service charge at Mag Eye Phase 1 gone up?
The approved rate was AED 3.08 per sqft in 2024 and is AED 4.59 for 2026 — up 49.0% since 2024. Owners' associations must submit a budget to RERA each year, so increases follow an approved cost rather than a landlord decision.
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