Dubai developer says $950m homes sold so far in 2018

MAG Dubai, the property development arm of UAE-based MAG Group Holding, reveals the sale of 2,887 units this year
Dubai developer says $950m homes sold so far in 2018
Units were sold in multiple developments, including MAG EYE, MAG 318, MAG MBL Residence, MAG 5 Boulevard and MAG 5 in Dubai South.
By Sam Bridge
Sat 01 Dec 2018 01:16 PM

MAG Dubai, the property development arm of UAE-based MAG Group Holding, has revealed the sale of 2,887 units so far in 2018 with a total value of AED3.5 billion ($950 million).

Units were sold in multiple developments, including MAG EYE, MAG 318, MAG MBL Residence, MAG 5 Boulevard and MAG 5 in Dubai South in addition to The Polo Townhouses and The Polo Residences in Meydan, the developer said in a statement.

A total of 600 units comprising studios, two-, and three-bedroom townhouses with a value of AED400 million were sold at MAG EYE, a AED4.7 billion project in Meydan District 7.
At MAG 318, a mixed-use luxury residential tower that features 439 apartments, 75 percent of the units have been sold, the developer added.

The company also gave an update on construction of other project including MAG MBL Residence in Jumeirah Lakes Towers (JLT) which is 30 percent complete and MAG Creek Wellbeing Resort (15 percent).

It also announced the completion of MAG 5 Boulevard project in Dubai South, which comprises six buildings and will provide the market with 528 units split between studios, one-bedroom, two-bedroom and three-bedroom units.

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