MAG 5 Property Development has launched MAG 5, the third phase of MAG 5 Boulevard in Dubai.
MAG 5 PD stated that the latest phase comes in response to an increasing demand for studios, as well as one- and two-bedroom apartments.
The second MAG 5 PD development, MAG 5 Boulevard is the company’s first project in Dubai South.
Units at the latest phase start at DH310,000 for studios, DH410,000 for one-bedrooms, and DH510,000 for two-bedroom apartments. According to the developer, the units target those who earn between DH15,000-30,000 per month.
Phases 1 and 2 of the project are due for completion in Q4 of 2018. While Phase 3 will be handed over in Q2 of 2019.
Talal Moafaq Al Gaddah, CEO of MAG 5 PD, said: “We have witnessed huge demand at MAG 5 Boulevard since its launch, with Phase 1 and 2 being outstandingly popular.”
“MAG 5 PD will be focusing its future efforts on luxury mid-range developments across the UAE, where they are in high demand. We aim to fill this gap in the real estate sector by offering high-quality, sustainable and affordable housing tailored to the needs and preferences of middle-income earners,” Al Gaddah added.
MAG 5 lies with the gated DH800 million MAG 5 Boulevard community. The phase will add 270 units to the residential community’s 13 buildings. This will bring the total number of units to 1,442.