Staff Report
Dubai, UAE
Moafaq Al Gaddah (MAG), one of the leading real estate developers in the UAE, said it has sold properties worth Dh3 billion in the first quarter of 2023.
MBL Royal Residences, a mixed-use luxury tower in Jumeirah Lakes Towers, was completely sold out within 75 days of its launch, the company said in a statement.
Earlier in February, MAG also launched MAG 22, a residential development offering two- and three-bedroom townhouses at Mohammed bin Rashid City — 60 percent of which has already been sold out.
MAG’s residential development offering transformational living through the design of space, Keturah Reserve, located in Mohammed Bin Rashid City, District 7 in Meydan, recorded the sale of all available 93 townhouses, with 70 percent of the project’s units having already been sold.
Properties within The Ritz-Carlton Residences, Dubai, Creekside, part of the Keturah Resort located on Dubai Creek facing Dubai’s wildlife sanctuary in Ras Al Khor, including the penthouses with 360-views of the Dubai skyline, the two-bedroom Sky apartments, and two mansions out of the available 12 were sold out. The company also announced that a new state-of-the-art sales centre will be launched on-site soon.
Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, said: “We are pleased with the heightened interest from investors for our different projects, especially Keturah Reserve and Keturah Resort, which are set to redefine the real estate sector due to their unique luxury and well-being aspects. The high demand for our developments underscores the vitality of the real estate sector and the effectiveness of our carefully strategized approach in launching projects into the market. At MAG, our mission is to elevate and enrich the lives of every generation of our residents. We are confident that each of our developments will fulfil their expectations.”
MAG said, it will soon announce the launch of additional units for sales across its Keturah projects based on investor interest and demand.
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