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Mag owners take delivery of apartments

Dubai, April 27, 2008

Mag Group Property Development has handed over keys to 306 apartments and penthouse at Jumeirah Lakes Towers building.

Built by Mag Group Property Development, MAG 214 is one of several competitively priced buildings being developed by the company aimed at the mid-range market and appealing to Dubai’s burgeoning middle income families The original selling price of the building's apartments was Dh750 ($204) a square foot, said an official spokesman.

Jumeirah Lakes Towers is a dynamic waterfront community development with residential and office towers alongside hotels, leisure and retail outlets. A total of 79 towers will be part of the project where investors can own on a freehold basis and businesses have free zone status. The towers are clustered in groups amid four man-made lakes covering an area of 255,000 square metres.

The Mag 214 building was completed in 29 months and all 306 one, two and three bedroom apartments and a four-bedroom duplex penthouse were sold out a year before completion.

The building includes 25 retail units, landscaped gardens, an extensive swimming pool, lakeside promenade and health club.

Mag developments are at various stages in the building cycle across the residential, commercial and industrial spectrum in a property portfolio in excess of Dh3 billion ($817 million).

The company is a regional industry leader in establishing business ethics embracing sustainability and communicating transparently.

“We are not the kind of company that makes outlandish claims, like the highest, the biggest or the most expensive. Quite simply, we excel in designing, finishing and customer satisfaction and focus on delivering our promises,” said CEO of Mag Group Mohammed Nimer. – TradeArabia News Service




Tags: property | Jumeirah | Mag |

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