Dubai realty sector defies challenges

Sajjad Ahmad, Gulf Today

Dubai’s property market has defied the COVID-19 challenges as the sector showed strength and sustainability during the crisis. The real estate market in the emirate is expected to improve quickly due to various initiatives and packages announced by the government to support various sectors, said Talal Moafaq Al-Gaddah, CEO of MAG Real Estate Development.

He said,”the lifting of restrictions on aviation sector will attract more investors to the market in the near future.” MAG Real Estate Development, the real estate arm of MAG Group, announced the sale of the whole first batch of villas in the MAG City project.

This confirms the group’s leading position in the local real estate market and its commitment to providing the best investment options and meeting the needs and requirements of their clients.  The sale of the first group of ‘MAG City’ project reflects the remarkable demand of citizens and residents looking for distinct options for real estate investment.

He said,“MAG Real Estate Development has succeeded in overcoming the current crisis and adopted flexible and proactive practices to keep pace with the requirements and the needs of investors.”

He added, “The sale of the first group of villas in the MAG City project reflect the company’s professionalism in taking into account the economic and financial trends of investors and to provide exclusive offers at unprecedented prices. Due to robust demand, we will launch a second group of villas in the coming days.”

MAG Real Estate Development was able to sell the first batch of villas in the Mag City project within only 3 weeks, and is currently working in full capacity to hand over the residential units on time. The project give the best offer in the real estate market for a limited time, with a townhouse villa starting at Dhs1,198,000 at a rate of Dhs685 per square foot.