|09 October, 2019

MAG completes $212mln Dubai residential development

Development is situated in Dubai South in proximity to the upcoming Dubai Expo 2020 site

MAG Lifestyle Development highlights its real estate portfolio for visitors at Cityscape Global 2018. Image used for illustrative purpose.

MAG Lifestyle Development highlights its real estate portfolio for visitors at Cityscape Global 2018. Image used for illustrative purpose.

MAG/Handout via Thomson Reuters Zawya

MAG Lifestyle Development (MAG LD) has announced the completion of its Dh800-million ($212 million) MAG 5 Boulevard, a value-housing project in Dubai South, in time for Expo 2020 event.

The development encompasses 13 buildings, consisting of 1452 units comprising 498 studios, 732 one-bedroom, 210 two-bedroom, and 12 three-bedroom apartments with most units including a balcony, said a statement from the real estate development arm of MAG Group Holding.

The residential project also boasts a 24-hour walkable community that spreads over 800,000 sq ft in the lush Dubai Greenbelt. It is situated in Dubai South in proximity to the upcoming Dubai Expo 2020 site, along with nearby schools, offices, and hospitals, offering unmatched convenience to residents, it stated.

One of the first projects to be launched in the area, MAG 5 Boulevard, is now also among the first to be completed, well before its anticipated schedule, and in time for Expo 2020, said the developer.

This is also considered the biggest handover of units in the area to support the vision of Expo 2020 and government of Dubai, it added.

Managing Partner and CEO Talal Moafaq Al Gaddah said: "Under our ‘MAG of Value’ division, which was established to pioneer value-home construction, we are proud to be exceeding our customer expectations with our handover of MAG 5 Boulevard."

"The project was designed to grant mid-income earners value for their money in a residential market that is home to one of Dubai’s most exciting urban developments — Dubai South. Combined with its strategic location and quality amenities, and offering a fully integrated modern community, the project offers residents an entirely new lifestyle with MAG," he added.

Elegantly designed landscaping and state-of-the-art amenities at MAG 5 Boulevard include a swimming pool, jogging tracks, gardens, outdoor leisure spaces, children’s areas, a community centre, and a series of retail, dining, and leisure outlets, said the Dubai developer.

There is ample space for parking, and most of the development’s apartments will feature balconies, it added.-TradeArabia News Service

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