First batch of villas sold in MAG City project

Dubai: MAG Real Estate Development, the real estate arm of MAG Group, has announced the sale of the whole first batch of villas in the MAG City project.

This confirms the Group's leading position in the local real estate market and its commitment to providing the best investment options and meeting the needs and requirements of their clients.

The sale of the first batch of "MAG City" project, which is one of the most important and prestigious projects launched by the Group in the Emirate of Dubai, reflects the remarkable demand of citizens and residents looking for distinct options for real estate investment.

“Despite the spread of the Covid-19 pandemic globally  and the exceptional circumstances that ravaged various sectors,“ MAG Real Estate Development ”has succeeded in overcoming the current crisis and adopted flexible and proactive practices to keep pace with the requirements  and the needs of investors,” said  Talal Moafaq Al-Gaddah, CEO of MAG Real Estate Development.

”The sale of the first batch of villas in the "MAG City" project reflects the company's professionalism in taking into account the economic and financial trends of investors and to provide exclusive offers at unprecedented prices. Due to robust demand, we will launch a second batch of villas in the coming days. We are confident that the real estate market in the Emirate of Dubai will recover quickly, thanks to the economic facilities provided by the government to support the development and recovery of various sectors," Al-Gaddah added.

"The big number of sales in "Mag City "project confirms the strength and sustainability of the real estate market in the Emirate of Dubai, as we are optimistic about a bright future of the market and we expect a greater improvement in the coming period,” Al-Gaddah confirmed.” That will coincide with the lifting of restrictions on aviation, which will contribute to an increase in demand in the sector. We also expect an increase in demand from investors outside the UAE, because Dubai is one of the best cities in the world in responding to the post-Covid-19 economy and its superiority over the largest cities and nations of the world, making it a safe destination for investment. We are committed to keeping pace with the rapid global changes and providing excellent investment opportunities and exclusive offers that enhance our position in the local real estate market, while at the same time emphasizing the importance of real estate as the healthiest and safest sector for investment," he added.

"MAG Real Estate Development" was able to sell the first batch of villas in the "Mag City" project within only 3 weeks, and is currently working in full capacity to hand over the residential units on time.

The "Mag City" project, which is located in Al-Midan District, in Mohammed bin Rashid City, is one of the most important projects and the closest to the most famous tourist destinations in the city. It is only several kilometers away from the city centre, 13 kilometers from Jumeirah Beach, and 20 kilometers from Dubai International Airport.

The "Mag City" project is the only one of its kind in the region in terms of the diversity of residential units and the price, and give the best offer in the real estate market for a limited time, with a townhouse villa starting at Dh1,198,000/- at a rate of Dh685/-  per square foot. It includes an exclusive collection of townhouses, which vary between two bedrooms and a hall, three bedrooms and a hall, and four bedrooms & a hall.

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About MAG Development

MAG Development, the real estate development arm of MAG Group, focuses on projects that deliver long-term benefits to its investors and customers. It is one of the most well-known players in the local real estate sector, with projects valued at $ 1 billion.

The company is ISO 9001: 2008 certified in the field of quality management systems, which focus on investment and long-term returns.

MAG Development leads many projects that employ MAG Group development and innovation concepts, and implement the Group’s strategy, which aims to be the leading player the  real estate development.

MAG Group started its first steps in business three decades ago, and since its inception in 1978, it has developed into a distinguished group that includes more than fifty successful companies throughout the Middle East, with more than two thousand employees. The group’s works extend to cover a large number of activities in various sectors, the most important of which is real estate development, Engineering and Contracting, Industry and Trade, Shipping, Services and Hospitality.

© Press Release 2020