MAG Lifestyle Development (MAG LD), the property development arm of UAE-based MAG Group, said it has sold 600 townhouses worth Dh400 million ($109 million) at its fully gated townhouse and Dubai apartment community, MAG Eye.

The Dh4.7-billion MAG Eye project features 4,292 studios, one-, and two-bedroom apartments, and 694 two-, three-, and four-bedroom townhouses, said a statement from MAG LD.

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 ROI and significant price appreciation over the coming years, it stated.

CEO Talal Moafaq Al Gaddah said: "We are thrilled with the heightened interest that MAG EYE, our iconic residential property in Meydan, Dubai has received. With a unique location in proximity to Downtown Dubai, Dubai International Airport, and the Meydan Racecourse, MAG Eye offers residents and customers unparalleled value."

"With fully furnished studio apartments starting at Dh400,000 and a customer-centric 40/60 payment plan - 40 per cent during construction, 60 per cent upon handover - home owners are encouraged to expect more with Mag Eye and they will receive it," stated Al Gaddah.

"In addition to beautifully designed homes crafted in partnership with interior design consultant Opaal Interiors and peer review consultant VX Studio, residents will also benefit from 4,800 sq m of public facilities, including a private clinic, nursery, and mosque, around 5,000 sq m of retail space, and 84,211 sq m of public parks and green areas, complete with a jogging and bicycle track," he added.-TradeArabia News Service