MAG Lifestyle Developments (MAG LD), the renowned UAE-based real estate developers, has announced that it is going to reward contracts with a total value that exceeds the $653m mark within this year in a step towards increasing its share in the market of Dubai.
In his comment on the announcement, Talal Al Gaddah, CEO of MAG LD did not reveal any further details about the contracts’ type or quantity; however, Al Gaddah said that most of the contracts will be for new residential projects in Dubai.
This comes right after MAG’s latest revelation of its two newest residential tower projects, MAG 612 and MAG 614, which will be the company’s first ventures in the populous area of Jumeirah Village Circle in Dubai, a location that will offer the units’ buyers a guaranteed high return of investment.
So far within this year, MAG LD has rewarded $102m worth of contracts for projects across the UAE. In addition to that, MAG has recently issued a tender for the infrastructure works of the project of MAG Eye, a new $1.2bn master development situated in Meydan District 7 in Mohammed Bin Rashid Al Maktoum City.