MAG 5 Property Development Announces Contractor for MAG 5 Boulevard
MAG 5 Property Development (MAG 5 PD), a real-estate company formed jointly by MAG Property Development and MBM Holding, has announced that Fujairah National Construction Company LLC (FNC) will be the main contractor for its MAG 5 Boulevard project at Dubai South.
“We are delighted to announce FNC as the main contractor for MAG 5 Boulevard, our first medium income housing community in the UAE offering exceptional residential living with prices starting already from AED 380,555.- Strategically located within Dubai South’s residential area of “The Village” adjacent to the Expo 2020 site and Dubai Parks, and with the whole area being developed in anticipation of this international event of significant importance to the Emirate, so completing this project within two years was an important requirement of the project tender,” said Talal Moafaq Al Gaddah, CEO, MAG 5 PD.
With a construction value estimated at AED 700 million, MAG 5 Boulevard will comprise of 1,172 residential units, complemented by an array of retail, dining, leisure and entertainment amenities. The project will break ground this month and is destined to become a 24-hour living, walkable community spread over 800,000 sq. ft. of land. Phase 1 handover for the development is scheduled to commence in Q4 2018.
“FNC, MAG 5 Boulevard main contractor, has an enviable portfolio for the delivery of premium real estate developments in the UAE. We are confident in their ability to bring MAG 5 Boulevard to the market within two years and in doing so, create the ultimate quality affordable living in one of the city’s most sought-after locations, Dubai South” added Al Gaddah.
MAG Property Development is an experienced developer at the forefront of the region’s real estate industry through its impeccable track record, dedication of innovation and continuous improvement, with a property portfolio currently under development in excess of US$ 3 billion.
“The Villages” in Dubai South Residential Area – home to MAG 5 Boulevard - is an exclusive self-contained master development which will contain villas, townhouses, apartments, schools large open spaces and a number of public and civic centers and offers opportunities for freehold property investments. The Villages provides its future residents with an unparalleled opportunity to live in a uniquely integrated community that includes high quality facilities to meet all of their needs, incomparable ease of access and exit, and a sustainable urban environment to call home.
MAG 5 Boulevard is a landmark community that offers exceptional residential living at affordable prices and redefines the Quality of Life, functionality, simplicity of design and efficient use. Centered around the “Greenbelt Park” – U.A.E.’s largest linear network of parks - with expansive greens as a focal point, surrounded by a variety of resort activities for residents including running and cycling tracks, playgrounds for children, community and retail centers that support the residents.
Situated in close proximity to schools, offices and hospitals, MAG 5 Boulevard will offer extensive landscaping, pools, outdoor leisure spaces, children’s areas and a community centre. All of the development’s apartments will feature balconies and its expansive footprint will allow for ample parking.
With MAG 5 Boulevard, MAG 5 PD is developing a master vision that improves the quality of life making Dubai even more attractive and efficient to their residents and workers. This vision is to collectively achieve for the local community members a sustainable lifestyle with the availability of high-quality homes and access to nature at affordable prices.