Mag Lifestyle Development, the real estate development arm of the renowned multinational Dubai-based Mag Group Holding, has generated sales revenues that exceeded the $27m mark as a result of launching 400 units for sale in Mag City, the first phase of Mag Eye master development.
Situated in Meydan District 7 in Mohammed bin Rashid City, Mag Eye is the area’s first – and, so far, the only – fully gated luxurious residential master development that will comprise more than 5,300 upscale homes including 4,700 studio, one-bedroom, and two-bedroom apartments as well as 690 three-room and four-room townhouses.
In addition to the variant residential units, the gated community will also feature facilities that span around 4,800 square meters to serve its residents including a clinic, a nursery and a mosque. Mag Eye will also comprise retail space sprawling over 5,000 square meters that will feature outlets for the best international lifestyle brands, as well as restaurants and cafes.
The $1.28bn development’s location will grant its residents quick access to Dubai’s key destinations including Dubai International Airport and Downtown Dubai.
In his comment on the success of the launch, Talal Moafaq Al Gaddah, CEO of Mag Lifestyle Development explained that the investors’ and homebuyers’ response to Mag City’s sales launch reflects the growing demand for elegant homes in strategic locations in Dubai as well as the investors trust in Mag’s quality standards and products.
It is worth mentioning that Mag LD has recorded sales revenues that almost broke the $1bn mark in 2018.