Tuesday 19 March 2019

MAG awards big contracts for $1.2bn Dubai project

DUBAI, February 24, 2018

MAG Lifestyle Development, the development arm of the UAE-based property developer MAG Group, has appointed Opal, a full service interior and exterior design firm based in Utah, US, as the interior design consultant for its Dh4.7-billion ($1.27 billion) MAG Eye project in Meydan, Dubai.

Dubai group VX Studio has been appointed the peer review consultant for the project, said the Dubai-based developer in its statement.

As per the contract, Opal will be responsible for designing the interiors of the townhouses and apartment buildings, while VX Studio will provide development solutions that maximise return on investment, it added.

Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Development, said: "We are pleased to be progressing work at MAG Eye in partnership with Opal and VX Studio, which both share our customer-centric philosophy and meticulous attention to detail."

MAG Eye is the only fully gated townhouse and villa community in Meydan District 7, a prime location that is close to both Dubai International Airport and Downtown Dubai.

Investors and future residents will benefit from an attractive payment plan that will allow them to pay five per cent on reservation, five per cent from the second to seventh instalment, and 65 per cent upon completion.

The development features 3,952 studios or one-bedroom apartments and 536 three or four-bedroom townhouses. All have been designed to offer quality living spaces at affordable prices in an upcoming area of the city that is expected to deliver high returns on investment (ROI) and significant price appreciation over the coming years.

In addition to beautifully designed homes, residents will benefit from access to a sports club, ladies lounge area, coffee shop, swimming pool, and dedicated children’s pool and indoor play area, as well as indoor and outdoor bar areas for community parties.

MAG Eye also features 4,800 sq m of public facilities including a private clinic, nursery and mosque, around 5,000 square metres of retail space, and 84,211 sq m of public parks and green areas complete with a jogging and bicycle track.

"With its strategic location and attractive payment plan, MAG Eye has been designed to offer capital gains through long-term investment strategy, while also providing a diverse living community for its future residents," said Al Gaddah.

"We are confident that our consultants will help us to bring this project to life in line with our promise to exceed customer expectations," he added.-TradeArabia News Service

Tags: contracts | MAG Group | Dubai project |

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