Staff Report,
Dubai, UAE
Moafaq Al Gaddah (MAG) Group Holding, the international conglomerate incorporating different companies across diverse sectors, has achieved Dh12.6 billion sales in 2023.
The Keturah brand, founded last year, acquired sales worth Dh2.5 billion at the Keturah Reserve development in Meydan. In contrast, sales at ‘The Ritz-Carlton Residences, Dubai, Creekside,’ part of the Keturah Resort, recorded Dh2.8 billion. Additionally, 70 percent of Keturah Resort has been sold.
Other real estate subsidiaries of the group recorded Dh7.3 billion in sales for real estate developments across the UAE, which includes MAG Lifestyle Development, Invest Group Overseas (IGO), MBL, Shoumous, Art of Living Mall in addition to plots and warehouses.
In his comments, Moafaq Al Gaddah, Founder and Chairman of MAG Group Holding, said: “Last year was a successful year for us at MAG Group with project sales across different subsidiaries recording impressive figures. This reiterates the vitality of the UAE’s real estate sector, given the wise leadership’s strategic vision and the countless initiatives that all aim to cement the emirate’s position as one of the best cities to work, live and visit. We are proud to contribute to the government’s mandate and will continue attracting investors to our unique developments.”
Given its noteworthy performance in 2023, the international conglomerate is expected to contribute to Dubai’s Dh634 billion real estate industry in 2024.
Ends
Also read: MAG announces Dh781 million Keturah project in Switzerland
