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MAG Development, the real estate arm of MAG Holding Group, said that it work in its Dh260 million ($71 million) project MBL Residence in the Jumeirah Lakes Towers, Dubai, is on track and handing-out of housing units will start during the second quarter (Q2) of 2020.
MBL Residence is a mixed-use project offering abundance of amenities, commercial and recreational facilities to provide a distinctive lifestyle .It is a 40-storey residential tower with 472 fully-serviced residential apartments of one, two and three bedrooms, with a 5-star lounge.
The health club is provided with the latest sports equipment and spreads on a whole floor, whereas the service floor located in the twentieth floor. There are a number of shops on the ground floor as well.
Ali Musa & Sons Contracting Company is the main contractor for the project that started work as of July 1, 2017.
The project is currently in the final stage of completing concrete works in the 40th floor, which means 72 per cent of the works have been done. 42 per cent of the EMP works have been finished, as well as 42 per cent of the façade cladding .The second sample flat has been prepared, while furniture for the first sample flat is being imported from Italy.
The project is being developed on an area of 758.875 sq ft. It was carefully designed to be a mixed use development, and offers stunning sea views, the lake, and the Big Diamond Tower.
“The residential tower MBL Residence is designed to provide homes with distinct amenities for a sophisticated lifestyle that provides a new concept of luxury and elegance in a lively area not far from tourist attractions, and only minutes from central Dubai,” said Talal Moafak Al-Gaddah, CEO of MAG Development Company.
“This means that residents will not get bored at any moment, and they can enjoy luxurious living in close proximity to retail outlets, restaurants and rest areas in the tower. The project fulfils the needs of tasteful residents providing security and privacy of a distinctive lifestyle in the vicinity of the most important tourist attractions in the city.
“This state-of-the-art tower corporates all futuristic elements and enhances the sense of loyalty, which makes it an ideal choice, through the world flavour and strategic location within one of the main economic centres. Jumeirah Lakes Towers or JLT, which is one of the most sought-after complexes in Dubai, makes it an ideal location for work, living and fun together, as it has the distinct ability to capture everyone’s attention at first sight,” he added.
The project features classic architectural designs, flawless finishes and is equipped with a modern five-star lounge, inspiring spaces and leisure facilities such as the lake with waterfront view, gym, steam room, sauna, barbecue area, children's playground , retail stores, and private parking.
The tower has been designed to create an active connection with the rest of society without compromising the privacy of residents, as well as high-end finishes and amenities that enhances the feeling of peace of mind with luxury.
MAG Development offers paying 5 per cent at first step when the apartment is reserved, followed by 45 per cent during construction and final 50 per cent payment on delivery. – TradeArabia News Service
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