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MAG Developer adopts 50-years-long development strategy

14.01.2020
MAG Development was the first of Dubai developers to adopt such long-term plans for the implementation of new projects.

MAG Development, a division of MAG Holding Group in the field of real estate construction, recently confirmed that all its current and future projects will be implemented in strict accordance with the master plan for the development of the UAE for the next 50 years.

Thus, MAG Development will be the first of Dubai's developers to adopt such a long-term strategy for the new projects implementation based on innovation in order to introduce new standards of development and modernization in the UAE real estate sector as one of the pillars of the strategy of diversification of the country's economy. In practice, this will mean the widespread introduction of innovative ideas, quality projects and unprecedented payment plans for housing in the real estate market of Dubai.

The Mag City project, located in the Meydan District 7 of the huge agglomeration Mohammed bin Rashid City, will be one of the most important among these projects, which correspond to the vision of the UAE’s leadership for the country's development for the next 50 years. A project with investments of around AED2 billion is expected to be completed between 2022 and 2024.

Moreover, in November last year, MAG Development launched its own innovative ‘Naam Dubai’ program, with a package of services and an easy selection of payment plans that allow customers to purchase homes in accordance with their needs and, most importantly, mortgage repayment options.

This program includes attractive payment plans for up to 24 years, fully compatible with market requirements. Various aspects of the program were carefully designed to ensure social and financial stability for the program participants — home buyers, with optimal payments for services with a worthy return on investment for investors.

Talal Moafak Al-Gadda from MAG Development said the new 50-year development plan is the largest catalyst for all sectors of the UAE economy and one of the most important guarantees of the future success for MAG Development, due to its openness to the highest international standards in construction and urbanization .

Al-Gadda also noted that MAG Group is one of the oldest companies in the UAE. It began its activities in the seventies of the last century, actively participating in shaping the modern look of the UAE, and will continue to actively participate in shaping its brightest future.

He noted that the new Mag City project is an important addition to the real estate market in the region, which could increase the competitiveness of the Dubai. The project aims to open new markets by attracting new categories of customers and expanding the target group of investors. This is, in essence, a miniature model of the future city, with integrated services and amenities designed to create a self-sufficient living environment for residents.

The project was developed in accordance with the latest standards, which ensure the best use of the premises and reduce the cost of services and operating costs, which increases the return on investment.

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