This week Cityscape Global will be held at the Dubai World Trade Centre (UAE), welcoming property experts from around the world to discuss core issues facing the industry and offering a platform from which developers can showcase their latest schemes. One of the many multinational property experts attending this year’s event is MAG Group, a global development firm who are planning to unveil a series of projects worth AED3.25bn in total.
At the core of MAG Group’s project showcase will be MAG222, a 51-storey property in Dubai Marina which the company is touting as ‘the world’s largest M-shaped residential building’. Once complete in 2017, the sparkling AED 900m tower will sport 550 one- to four-bedroom apartments plus eight duplex penthouses, some with private rooftop swimming pools.
Each of the residential units will benefit from a range of high-end shared facilities including bespoke landscaped gardens, an entire floor dedicated to a health club, an open-air deck with infinity pool and spa, and a coffee shop. Retail units and conference facilities have also been stitched into the plans.
In recent years industry focus has shifted from the United Arab Emirates (UAE) to China following an explosive surge in supertall towers and plans for new cities however Chairman of MAG Group Moafaq Al Gaddah is convinced that the UAE still offers a tremendous number of investment opportunities.
He explains: “Dubai remains an attractive investment proposition for local, regional and international investors, and our active pipeline of AED 3.25bn worth of upcoming projects is a direct endorsement of the potential that the city still has to offer to residential property buyers.”
Also part of MAG Group’s project portfolio for Cityscape Global is an AED 400m residential building in close proximity to Dubai Mall in the Business Bay district and an AED 2bn scheme in Meydan comprising residential townhouses and low-rise apartment units. There are also plans for an AED 450m retail development focusing on interior design in Al Barsha 2, currently scheduled for handover in 2015.
Overlooking the Burj Khalifa Boulevard, the AED 400m property (MAG220) will be 20 storeys in height and include a modest 81 two- to four-bedroom apartments plus two penthouses. These residential units will be supported by a health club, spa, events space, kids club, swimming pools and landscaped terraces.
CEO of MAG Group Mohammed Nimer explains: “Our track record as a quality-driven developer that consistently delivers on its off-plan promise puts us in an enviable position to capitalise on early expressions of interest in our three residential projects at Cityscape Global. Investors can also remain secure in the knowledge that MAG Group’s experience and commitment to ensuring a transparent purchasing process, from start to finish, is guaranteed.”