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Cutting out the middlemen - MAG Group shows the way in transparent property investment.
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| 27 Sep 2007 |
Dubai based multinational MAG Group Property Development is to unveil further details of four new office and residential buildings at Cityscape Dubai - the world's largest business-to-business property investment and development event - at the Dubai International Exhibition Centre from 16-18 October 2007.
MAG Group Property Development has invested in 12 properties at various stages of development across the residential, commercial and industrial sectors with total estimated project value US$900 million. The company is emerging as a regional leader in establishing transparency in the real estate sector.
The latest MAG projects to be announced at Cityscape will be the 27-floor Matex office building strategically located at Business Bay overlooking the Burj Dubai Boulevard; the 23-floor MAG 226 residential building in booming Jumeirah Village; and MAG 228A and 228B in phase three of International City and consisting of two L-shape buildings of nine floors each.
MAG Property Development is steadily establishing itself as one of the largest property developers in the United Arab Emirates, said CEO Mohammed Nimer. “We excel in design, finishing and customer satisfaction,” he added. “We strive always to focus on delivery and complete the current projects in the shortest possible time and with the highest level of finishing.”
MAG Group Property Development kicked off operations in 2003. Soon after their prominent projects started to appear across the UAE in areas such as Jumeirah Lakes, Dubai Marina and Sharjah. Projects in Ras Al Khaimah and Jordan are being considered by the company.
MAG Group Property Development has been in the forefront in providing reassurance to potential buyers by introducing guarantee, or Escrow accounts, which are to become mandatory under the Government of Dubai’s new Law Number 8 of 2007 and the formation of a Real Estate Regulatory Agency.
Nimer said the company see its suppliers, designers, consultants, sub-contractors, sales agents and end customers as partners. “This establishes clarity and a direct relationship with no middle-men,” he added. “To cut the story short, the company is able by this method to convey exact information about its projects.”
The Dubai-based Moafaq Al Gaddah Group of Companies (the MAG Group) was established in 1978 and has grown into a multinational organisation with 18 offices in eight countries throughout Europe, the Middle East and Asia. The Group, which has gained global reach, is a regional leader.
In the last five years, the MAG Group has entered into the real estate development market and has invested in 12 properties at various stages of development across the residential, commercial and industrial sectors.
The company focuses on projects that provide long-term benefits to investors and customers. The current estimate of the total value of these projects is around US$900 million.
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