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Mon 22 Oct 2018 02:00 PM

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Developer says Dubai property sales exceed $810m

MAG Lifestyle Development reports 'heightened interest' in portfolio of residential projects across Dubai

Developer says Dubai property sales exceed $810m
The developer has a number of projects across Dubai including MAG 5 Boulevard.

MAG Lifestyle Development (MAG LD), the property development arm of MAG Group Holding, has revealed that total sales in Dubai have passed the AED3 billion mark ($810 million).

The developer said in a statement that it has sold nearly 2,900 units comprising studios, one, two, three-bedroom residences in addition to 2 and 3-bedroom townhouses.

Talal Moafaq Al Gaddah, CEO of MAG LD, said: “We are thrilled with the heightened interest that our residential properties are receiving. Dubai is at the epicenter of the real estate world with all the services and security assurances the emirate offers investors, and we are pleased that our properties are attracting foreign investors and instilling them with the promise of quality that all our developments are built with.”

He said a total of 2,887 units were sold in multiple developments, including MAG EYE, the gated townhouse and apartment community in Meydan MBR City District 7; MAG 318, the mixed-use luxury residential tower in the Business Bay Downtown area; MAG MBL Residence in Jumeirah Lakes Towers K2; MAG 5 Boulevard; and MAG 5 in Dubai South, The Polo Townhouses and The Polo Residences in Meydan.

MAG LD said in September that 600 units worth AED400 million have been sold in its MAG Eye project in Dubai.

The development features a total of 4,292 studios, one, and two-bedroom apartments, and 694 two, three, and four-bedroom townhouses.