The value of MAG’s UAE investments reached AED 9.8 billion by the end of the first half of 2017
MAG Property Development (MAG PD), the property development arm of MAG Group showcased five real estate projects at Cityscape Global 2017, the world-leading real estate exhibition.
Talal Moafaq Al Gaddah, CEO of MAG Property Development, commented: “Our aim at MAG PD is to offer a wide variety of projects that cater to different segments of society.”
MAG PD’s investment strategy was launched in 2014 and will continue until 2020. A total of AED 15 billion has been allocated to the strategy, and the company’s UAE investments reached AED 9.8 billion by the end of the first half of this year.
MAG PD prioritises identifying the latest trends in the real estate sector, adopting the latest standards and specifications in construction, and employing luxurious finishes that enhance the health and well-being of residents and visitors. This is clearly demonstrated by the company’s MAG Creek project – a mixed-use wellness resort that is home to 17 unique waterfront mansions, 75 luxury apartments, 172 serviced wellness holiday homes, a WorldCare Wellness Centre that spans over 120,000 square feet, a 96-room Wellness Hotel and an Exclusive Health Club. Combining waterfront features with residential, recreational, healthcare, hospitality and retail amenities, the project is home to the region’s first wellness-inspired real estate, with luxurious homes that have been designed by the renowned Italian architect Carlo Colombo.
MAG 318 is a new mixed-use luxury residential tower in the Business Bay Downtown area that features 439 residential units including studios and one and two bedroom apartments with private balconies that overlook Dubai Water Canal and Downtown Dubai. To ensure an integrated living environment for residents, the project has been strengthened with modern facilities including a swimming pool, outdoor leisure facilities, a children’s area, a social activities centre and a coffee shop.
MAG 230, a 31-level prestigious residential tower, will to be developed in the heart of Dubailand. In addition to being part of the master plan for ‘City of Arabia’, it is designed to be an independent complex and will have access to the new metro system. The project ensures that residents have easy access to the city as it is located on Sheikh Mohammed bin Zayed Road, just a 15-minute drive from Dubai International Airport and 12 minutes from Downtown Dubai.
MAG MBL Tower is a 40-level residential tower located in Jumeirah Lakes Towers. The 758,875 square foot development features 472 high-end one, two and three bedroom apartments of different sizes. Residents will enjoy premium amenities including private parking, a fully equipped gym and an outdoor swimming pool, as well as restaurants and cafés. The project is due for completion in Q4 2019.
MAG PD is also developing ‘MAG EYE’ – an exciting gated community in the heart of Mohammed bin Rashid City in Meydan Dubai. MAG EYE will offer units consisting of studios, one and two bedroom apartments as well as three and four bedroom townhouses. The project features a community club and an area for entertainment and special events, alongside other facilities including a swimming pool, a 20,000 meter gymnasium, and open green areas where residents can relax in an oasis of tranquility.
Al Gaddah concluded: “We are pleased to invite all of our customers to visit us at the region’s largest real estate event to discover our diverse range of real estate products. These range from luxury mansions to mid-income apartments, and also include the introduction of new concepts for the first time in the region. This means that we have successfully met the expectations of various customer segments, and that we can satisfy investors who are hoping to secure real estate deals at competitive prices.”