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MAG unveils unprecedented payments plan for off-plan properties in Dubai

12.11.2019
MAG Development offers a payment plan with no down payment, no fees and with a post-handover payment period extended up to 24 years.

MAG Group presented a package of payment plans for properties under construction (off-plan), which has no analogues. The program is called ‘MAG Yes Plan’ and is designed to really help those who want to buy their own home in Dubai, but who do not have savings for a deposit payment and related fees. This initiative will allow potential property buyers to purchase housing that matches their purchasing power.

The program, which is the first ‘all-inclusive’ package of this type in Dubai, includes the exemption of the buyer from all possible fees in addition to exclusive benefits. The offer provides three flexible off-plan housing payment plans. ‘MAG Zero Plan’ is one of 3 individual plans that allow customers to buy real estate without deposit payment and without a final installment upon completion, with a complete exemption from registration fees.

Under this program, which makes it possible to buy an apartment in just 15 minutes, MAG Development provides direct debit payments from the client’s bank account in order to simplify the payment process. In addition, the buyer can choose other options for fixed, daily, weekly, monthly or quarterly payments without the need to apply for additional banking services.

New payment packages were developed as a result of an in-depth specialized study of the real estate market in the UAE. And studies conducted by several companies reveal that rental income for any residential property in the UAE pays for its value in about ten years.

Given its test nature, the program from MAG Development so far applies only to real estate units in the MAG City project. This is a totally gated residential community consisting of luxury houses with two, three or four bedroom apartments, as well as one-bedroom apartments and fully furnished studios in the area of Mohammed Bin Rashid City, Al Meydan cluster, District 7.

In accordance with the terms of the unique payments package from MAG, the buyer can choose one of three plans with various payment options and benefits. But at the same time, all plans offer monthly payments and include all possible benefits, such as all possible fees, so that the client does not have to make any other payments during the entire term of the package contract duration. Benefits also include special offers such as miles from Etihad, participation in the Mag loyalty program, career protection program, life insurance and many other positives depending on the chosen plan.

“For the first time in history, MAG Development has launched such a comprehensive and unprecedented flexible payment plan for real estate in Dubai. It is carefully designed to give the buyer the opportunity to pay for a housing in equal installments. The payment plan is not subject to change during the entire period of its validity, which is from 5 to 24 years,”added Talal Moafak Al Gadda, Senior Executive Vice President at MAG Development.

“According to the terms of each payment plan, customers will be able to become owners of a townhouse or apartment without registration fees, without down payment and no final payment upon completion of construction. This program allows anyone who has a fixed monthly income to become an owner of their own housing without the need for large and hidden payments,” he said.

To always stay up to date with the latest analytics data and real estate prices in Dubai, subscribe to our newsletter using the form below. And in order to sell, lease or buy/ rent housing or commercial properties in Dubai, contact IMEX Real Estate. Our contacts:

Tel. in Dubai, UAE: +971 (50) 2528188 (Whatsapp, Viber, Telegram)

Toll Free Dubai: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

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