Almost 80% of property in MAG 5 Boulevar already sold out

17.08.2015
The developer of the MAG 5 Boulevar residential complex in Dubai's Dubai World Central reported high demand for its affordable housing project.

MBM Holding and MAG Property Development Joint Venture Company announced that almost all property in the MAG 5 Boulevar residential community in Dubai's new and rapidly developing area Dubai World Central is already sold out.

Thus, the selective activity of property buyers in Dubai, depending on the housing category is quite obvious: while many other sectors of Dubai real estate market recorded a decline in buyers’ activity, and in the secondary market both buyers and sellers mostly prefer to take a wait and see strategy, the sector of affordable off-plan housing in Dubai still feels buyers’ excitement. This also applies to the MAG 5 Boulevar residential project, which sees the increased property buyers’ interest due to its location near the Expo 2020 site.

The completion of the MAG 5 Boulevar Phase I is scheduled for the first quarter of 2018. The second phase of the project will be presented to buyers at the Cityscape Global exhibition, which is to be held in Dubai in September.

About 1,000 new housing units will be built as part of the MAG 5 Boulevar first project phase, surrounded by all the necessary infrastructure of the retail and entertainment, and social spheres. Within walking distance there will be schools, hospitals, community and leisure centers, sport grounds and playgrounds for children, and the territory of the complex will be dipped in rich vegetation. Each apartment in the complex will have a spacious balcony, and each building – an ample parking. And also, MAG Property Development is making its customers a unique proposition: property buyers will have an opportunity to pay the full amount of the housing cost in five years with 0% interest.

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