Friday 18 September 2020

MAG Development launches new payment plan

DUBAI, November 10, 2019

Dubai-based MAG Development, the real estate development arm of MAG Holding Group, has launched its ‘MAG Yes Plan', offering package payment plans which allow customers to own their customised homes that suit their purchase power.

The programme, which is the first all-inclusive payment packages of all possible fees in addition to exclusive benefits offered to MAG Yes Plan clients, includes three flexible plans to become a homeowner, MAG Zero Plan one of the three customised plans allow clients to buy the property without a down payment and without a final payment of delivery, with full exemption from registration fees.

Through this programme, which offers the chance to buy an apartment in just 15 minutes, MAG Development provides direct debit payments from the customer's bank account to facilitate the process of paying. They also provide other options for the customer to pay fixed, daily, weekly, monthly or quarterly payments, without the need of any bank facilities.

The new payment packages were designed depending on an in-depth and specialised study by MAG Development of the real estate market in the UAE. Studies conducted by several companies indicate that the renting revenue of any residential property in the UAE equals its value in about ten years.

To begin with, the programme covers MAG City project exclusively. It is a fully-gated residential complex comprising two-, three- and four-bedroom luxury homes as well as one-bedroom apartments and fully-furnished studios, in Mohammed Bin Rashid City, Al Meydan District 7.

Under the terms of the new payment package, there are three plans with different payments options and benefits, all the plants are offering all-inclusive monthly payments including all possible fees where client will not pay any other amounts during the package duration. The packages includes unseal benefits such as Etihad Guest miles, Mag loyalty programme, career protection programme, life insurance and many other benefits depends  on the selected plan

“MAG Development has launched a comprehensive and unprecedented flexible payment plan for the first time in its history. It is carefully designed to give the customer the opportunity to pay for the housing unit in equal instalments. It is not subject to change throughout the payment period which spans from five years to 24 years,” said Talal Moafaq Al Gaddah, senior executive vice chairman of MAG Development.

“According to the terms of each payment plan, customers will be able to own a town house or an apartment without registration fees, no down payment or a final payment on handover. This program confirms our great interest in meeting the requirements of market and enable anyone with fixed monthly income to be able to become a landlord without the need of large payments and without hidden fees,” he added.

"The new easy payment plans are designed to provide a greater level of flexibility for our customers and reflect our firm commitment to enhance the home-seeking buyers' experience within MAG's development projects that cater to different segments of the community," Al Gaddah said.

He pointed out that most of the property buyers have difficulty in paying the initial payment, so MAG Development’s innovative program exempts them from the down payment, in addition to that, the client will have the options to pay fixed regular instalments which will allow anyone with a fixed income to be able to become a home owner.

MAG Yes Plan packages are designed to be inclusive of all possible fees with additional excusive benefits such as “MAG Loyalty " programme membership, which gives the buyer discounts in 480 restaurants, shops, cafes and hotels in  Dubai .There is also the benefits of life insurance and insurance on job loss. – TradeArabia News Service


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