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MAG Property.... going places with premium projects.

MAG to spend $3bn on six of the best

DUBAI, September 22, 2014

MAG Property Development is to launch six upscale projects worth a total of $3 billion, five of which will be in Dubai, UAE, and one located overseas in the US.

The real estate development arm of UAE’s Moafaq Al Gaddah Group unveiled the projects at the Cityscape Global property exhibition in Dubai, saying it aims to be “at the forefront of the region’s real estate industry”.

“Cityscape is the ideal forum for us to announce our forthcoming projects, which this year comprise six premium residential and mixed-use developments,’’ remarked Talal Al Gaddah, the chief executive officer of MAG Property Development.

The first two will be in collaboration with Chicago-based Skidmore, Owings & Merrill LLP (SOM), one of the world’s largest and most influential architecture and interior design consultancies that has completed more than 10,000 projects in over 50-plus countries.

SOM will be lending its renowned expertise to the development of two properties, MAG 1978 and MAG Luxury.

MAG 1978, located in Business Bay will be the group's headquarters and will include 218 holiday home apartments while MAG Luxury, situated in Burj Khalifa District, will comprise 62 apartments and lavish facilities.

The group's third project will be The Estate at Al Furjan located in close proximity to Jebel Ali Port, Al Maktoum Airport, Knowledge Village, and Internet/Media City.

Another MAG Group project sees its expansion into the US market with The Gate located in Frisco, Texas. With a total investment of $750 million, The Gate features 17 buildings and seven villas spread across a vast area. Its four and five-storey residential buildings are suited to the urban living requirements of professionals and young families, with its 10-storey buildings offering more luxurious apartments.

The fifth project, MAG 230 is a prestigious residential landmark at the City of Arabia in the Dubailand theme park. The development’s distinctive L-shape main structure houses unique features and offers high-class living standards.

The last one, MAG 226, is a prestigious residential property standing tall as a landmark in Jumeirah Village Circle and meticulously designed in both its internal and external architecture to reflect the requirements of luxury living, said the group.

MAG Group’s most recently completed project is Polo Residence, which is located in the heart of Meydan City. The gated community of 29 four-storey buildings blends the bucolic with the urban, siting modern buildings among trees and 1.16 million sq ft of meadows.-TradeArabia News Service




Tags: UAE | Projects | MAG Property |

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