MAG to Launch Six New Premium Properties at Cityscape
September 22, 2014
Property development organisation will reveal details of projects worth $US3 billion
Dubai, UAE – MAG Property Development has announced that it is to launch six new premium projects at Cityscape this year. The company, which is the real estate property development arm of MAG Group – one of the region’s largest multi-sector corporations – is using this week’s international property exhibition as a platform to reveal the details of the new developments, the total value of which will be $US3 billion.
“As one of the region’s leading real estate property developers, Cityscape is an extremely important fixture on our calendar. It is the ideal forum for us to announce our forthcoming projects, which this year comprise six premium residential and mixed-use developments that will help propel the city into its next phase,’’ said Mr.Talal Al Gaddah, CEO of MAG Property Development. “MAG Property Development is spearheading MAG Group’s ambition to be at the forefront of the region’s real estate industry. It is achieving this through its commitment to the group’s corporate philosophy of innovation and continuous improvement,” he added.
The first two of MAG Property Development’s new projects to be revealed at Cityscape MAG Property Development are in collaboration with Chicago-based Skidmore, Owings & Merrill LLP (SOM) – one of the world’s largest and most influential architecture and interior design consultancies that has completed more than 10,000 projects in over 50-plus countries. SOM will be lending its renowned expertise to the development of two properties, MAG 1978 and MAG Luxury. MAG 1978, located in Business Bay will be MAG’s Headquarters and will include 218 ‘holiday home apartments’ while MAG Luxury situated in Burj Khalifa District will comprise of 62 apartments and lavish facilities. Managing Director of SOM, Jaime Velvez, will also be at the MAG Property Development stand through the three days of the exhibition.
Paying attention to the cultural and traditional wealth of the Emirates, MAG Property Development’s third project to be launched this year is The Estate at AL Furjan. Sited in close proximity to Jebel Ali Port, Al Maktoum Airport, Knowledge Village, and Internet/Media City, The Estate fuses elegant, enduring designs that are contemporary but pay homage to Dubai’s rich heritage.
Another MAG Group project sees its successful expansion into the U.S. market with The Gate located in Frisco, Texas. With a total investment of $US 750 million, The Gate features 17 buildings and seven villas spread across a vast area. Its four and five-story residential building are suited to the urban living requirements of professionals and young families, with its 10-storey buildings offering more luxurious apartments. At street level, there are numerous possibilities for shopping and leisure, with many shops and restaurants on the ground floor. Frisco is one of the fastest growing U.S. cities whose fame began in the late 1990s, when the northern suburbs of Dallas experienced explosive growth causing a spill of people into its territory. Located about 25 minutes north of Dallas, Frisco has become a comfortable home for professionals who work in the Dallas-Fort Worth Metroplex. The Gate is conveniently located adjacent to other Frisco neighbourhoods and is expected to be big drawer for sports fans, with the new training grounds of the Dallas Cowboys nearby.
The final two projects of this year are MAG 230 and MAG 226. MAG 230 is a prestigious residential land mark in the City of Arabia and home to the much talked about Mall of Arabia. The development’s distinctive L-shape main structure houses unique features and offers high-class living standards. The sixth project, MAG 226, is a prestigious residential property standing tall as a landmark in Jumeirah Village Circle and meticulously designed in both its internal and external architecture to reflect the requirements of luxury living.
MAG Group’s most recently completed project includes Polo Residence, which is located in the heart of Meydan City. The gated community of 29 four-storey buildings blends the bucolic with the urban, siting modern buildings among trees and 1,160,000 sq. ft. of meadows.
MAG Property Development’s renowned completed projects include Emirates Financial Towers (EFT), a 27-storey commercial twin tower development located in the heart of the Dubai International Financial Centre. EFT has made its mark on the Dubai cityscape with its contemporary elliptical profile, glass facade and skybridge. The two towers also boast the world’s largest automated parking facility, as verified by the Guinness Book of Records, which was developed by MAG Royal Solutions, another division of MAG Group.
Cityscape takes place from September 21-23 at the Dubai World Trade Centre. MAG Property Development’s stand is located in Hall 6, Stand #6B30.