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Sat 19 Oct 2019 12:25 AM

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Dubai developer says $217m affordable housing project completed

MAG Lifestyle Development says work has finished on MAG 5 Boulevard which includes nearly 1,500 residential units

Dubai developer says $217m affordable housing project completed
MAG 5 Boulevard encompasses 13 buildings, consisting of 1,452 units comprising of 498 studios, 732 one-bedroom, 210 two-bedroom, and 12 three-bedroom apartments.

MAG Lifestyle Development, the real estate development arm of MAG Group Holding, has announced the completion of its AED800 million ($217 million) MAG 5 Boulevard, the value-housing project in Dubai South.

MAG 5 Boulevard encompasses 13 buildings, consisting of 1,452 units comprising of 498 studios, 732 one-bedroom, 210 two-bedroom, and 12 three-bedroom apartments.

The residential project also houses a 24-hour walkable community that spreads over 800,000 square feet and amenities 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.

The development, which was one of the first projects to be launched in the area, is now also among the first to be completed, well before its anticipated schedule, the developer said in a statement.

Talal Moafaq Al Gaddah, managing partner and CEO of MAG Lifestyle Development, said: “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.”

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