MAG Property Development set to change the UAE property market with new wellness homes
September 7, 2016
MAG of Life™ to enhance UAE Quality of life through innovative wellness concept
– MAG Property Development (MAG PD), the real estate development arm of MAG Group, has identified the importance of health and well-being in the homes we live in, and plans to incorporate these principals into a new product offering of residential homes in the UAE.
A new division called MAG of Life™ will focus on space, air, light and ergonomics in the built environment. These are essential elements towards improving quality of life, and will be applied to a emerging sector which MAG has identified as the future of residential property.
MAG PD CEO, Talal M Al Gaddah commented: “This is the future. We are already committed to providing the market with quality and good value homes that achieve a 10% yield for investors. Now we are raising the bar and are aiming to provide homes which enhance health and wellbeing. This is a new prospect for our company, and we will deliver innovative projects through a whole new way of thinking for the property market which presents a new construction category for the region”.
The MAG strategy comes in response to increased consumer focus on health and wellness, with due consideration paid to the fact that people spend up to 90% of their time in their homes. MAG PD analysis indicates that the global growth of the health and wellness market within the consumer healthcare segment is worth $502 billion and is forecast to grow over the next five years.
Al Gaddah continues “Through MAG of Life™ we are tapping into a whole new market and developing the homes of the future for consumers. We will primarily focus on functionality and wellbeing, which we will combine with our world class design.”
The launch of MAG of Life™ makes MAG the first mover in the health and wellness construction sector. The MAG of Life™ division will be committed to creating awareness and educating people on the deficiencies in their homes which can impact their health and wellbeing. MAG PD will work with all parties to improve the health and wellness of people across the region.
Al Gaddah confirmed that plans were underway to announce the details of the first project before the end of 2016, with the implementation of health and wellness programming by a soon to be announced partnership with a world class organization that has invested over 6 years of research into the development of solutions that address these principals.