Company: MAG properties
Country of residence: Syria
Talal Al Gaddah runs MAG Property Development, a subsidiary of the highly successful MAG Group, which was formed by this father Moafaq Al Gaddah in 1978. The property development arm has helped cement its position as one of the top five real estate developers in the UAE.
With an existing real estate portfolio worth more than $3bn, MAG has already completed a series of high-rise towers, hotel apartments and industrial projects in Dubai, Abu Dhabi and Sharjah. MAG PD currently has eight projects under construction, including in Downtown Dubai and two high-end developments in Meydan.
It has also launched an affordable real estate development under MAG 5 Property Development, a joint venture between MAG Property Developments and MBM Holding. The joint venture is currently developing MAG 5 Boulevard community in Dubai South.
Late last year, MAG PD moved into a new sector when it announced a partnership with US-based wellness real estate and technology firm Delos, to build at MAG of Life Creek Resort, the world’s largest wellness concept located in the second phase of the Dubai Healthcare City (DHCC).