MAG Lifestyle Development (MAG LD), the development arm of MAG Group Holding, has appointed Intermass Engineering & Contracting as the main contractor for its MAG 318 development in Business Bay.
A AED155 million ($42.2 million) contract has been awarded and the new contractor will start working on the development after Dutch Foundation & Concrete Processing Co completed the project's shoring and piling works.
The AED550 million project is on track for completion by the second quarter of 2020 with over 75 percent of units having been sold, the developer said in a statement.
MAG 318 is a mixed-use luxury residential tower that features 439 residential units including studios and one and two-bedroom apartments with private balconies that overlook Dubai Water Canal and Downtown Dubai.
The development also includes a swimming pool, outdoor leisure facilities, a children's area, a social activities centre, a coffee shop and 18,000 square feet of retail space.
Talal Moafaq Al Gaddah, CEO of MAG LD, said: “We are pleased with the strong progress displayed at MAG 318. MAG LD emphasises resident satisfaction with every project, appointing the best contractors and working with premium partners to deliver upon our promise of a customer-centric approach that urges residents to expect more.”For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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