MAG PDD Invites Buyers to Viewings, Offers Clarification on Question of Visas

MAG PDD has made the latest issue (7-Jun-06) of Dubai's Property Weekly with its invitation to purchasers to view show apartments in the MAG 214 tower in Jumeirah Lake Towers district. Although the tower is not due for completion until early or mid-2007, the display units are reportedly to have been open since last month.

The intention of MAG PDD is to "guarantee and give peace of mind to buyers." Although certainly useful for 214 buyers, MAG 218 buyers may also benefit by getting an indication of the quality of work MAG PDD is capable of and also seeing how close the product is to what is promised.

Those interested in viewing should contact the developer: p.a@magpd.com, 04-335-3301.

On Visas for Residency

MAG PDD General Manager, Mohammed Nimer, is also quoted in the article to say,

Everybody thinks that buying a house will guarantee a visa. This is unfortunate. We do not provide visas as according to law the buyer has to apply for it. People misquote the law. We tell all facts to our customers and (it) is also in our contract.

What in fact does the MAG 218 contract say in this regard:

The Vendor agrees to assist the Purchaser to approach the Master Developer for the Master Developer to sponsor the Purchaser of the Unit for a Visa (provided the Purchaser is not otherwise entitled to sponsorship for a Visa)... The Vendor does not guarantee the issuance of any Visa and shall not be liable towards the Purchaser if any Visa is not granted at any time or fo any reason whatsoever.

That appears to be clear enough--except for the otherwise entitled to sponsorship bit. The point is being made in regard to the impression given by some developers and agents that freehold purchases result automatically in the issuance of residency visas. This is not at all the case, with the otherwise entitled to sponsorship clause likely being the biggest caveat.

In some sense the residency visa appears to be a fallback option for those who might otherwise find themselves with a home in which they can't reside due to being of retiree age and unable to get a work visa or perhaps for having some disability. However, in one incident reported by a participant in an International City online forum, an elderly couple were denied visas on the bases of poor health. The ailment in question was high-cholesterol level.

The bottom line is that the issuance of any visas is in the hands of perhaps sometimes unsympathetic government officials. That being said, the government of Dubai is probably well aware that word of unfair treatment with regard to visa applications could adversely affect its efforts to sell Dubai Inc.


A long way to go. Excavation and piling work as of 08-Jun-06.

See also MAG Makes a Statement with Its Threesome.

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MAG Makes a Statement with Its Threesome

MARRYING THE sensible with the stylish is the statement that MAG Property Development Department (PDD) wants to make with its high-rises...

MAG PDD reflects on its mission and activities in the UAE property market. General Manager Mohammad Nimer adds,

Our philosophy is simple: practical and stylish properties with customers’ needs dictating design, delivery of almost exact (with a leeway of plus or minus 5 per cent) features and designs as depicted in our brochures and prices at 5 to 10 per cent less than the market.

And who exactly does MAG PDD target in the MAG 218 project? The article explains,

MAG 218, a 66-floor residential building in Dubai Marina targeting middle and senior executives – mainly single or a three-unit nuclear family.

The company has its eyes on the future, and as he pointed out in an earlier interview for the MAG 218 Community the company is intent on establishing its name. Towards this end the director adds,

Location is of prime importance to us, considering that we have land ownership in Business Bay, City of Arabia (Dubai-land), The Palm, Jebel Ali (crescent), International City and Jumeirah Village. We have many projects, at different stages, in the pipeline.

How far will MAG PDD progress in the coming years? It is still early days and counting... as in MAG 214, MAG 218 and MAG 224.

Its three current projects:

214 218 224

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Present Partner

Engel & Volkers is reportedly the largest real estate firm in Europe. As evidenced by recent full-page ads in property and news publications this agency is promoting sales of the MAG 218 tower. Presumably this will add a German component to the residential mix of the tower to complement an expected large UK component. (UK buyers appear to be the dominant international player in the emerging Dubai real estated market, perhaps due to the UK's historic involvement in the region and a long-standing trend in the British market for second-home buyers to shop abroad.)

Although a dated article (April 2004) the title link provides some background on Engel & Volkers. An excerpt:

The Hamburg-based real estate company, and the largest in Europe, specialises in the marketing of luxurious high-end properties. More than 100 residential real estate outlets in Europe, Africa and USA which form part of Engel & Volkers's vast distribution network, will market Emaar's premium residential developments to more than 300,000 customers across Germany, Austria, Switzerland and Liechtenstein.

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Perspectives on the MAG Group

Following are two articles that appeared in local media releases, one in November 2004 and the other in July 2005. They provide some insight into the origin and vision of the MAG Group. What should be of particular interest to investors in the MAG 218 project is how the company has expressed its vision and comittment ,

Our mission can really be summed up in just two words - commitment and quality.

...MAG Group is only utilising class-A contractors in all of our projects.

We start with the most recent of the articles, an interview which appeared in the Construction Week Newsletter:

MAG’s commitment to quality real estate

What are the origins of the MAG Group?

The company was originally founded in the UAE in 1978, dealing in car parts, batteries and tyres. Since then, it has expanded to cover three main sectors, namely residential, commercial and industrial. In the last four to five years, the MAG Group has entered the real estate development market and we now have 10 ongoing projects at various stages of development.

What are the projects that you are currently developing?

The three developments that have already been launched are MAG 214 in Jumeirah Lake Towers, which is a 40-storey development; and MAG 218 in Dubai Marina, which is 66 storeys high. The last one to have been launched was the new twin- tower development located at Dubai International Finance Centre (DIFC). We have already started construction on MAG 214 and we aim to hand it over to buyers by March 2007. We have also finished the concept design of MAG 218 and we are currently working on the detailed design of this latest development.

What other projects does the MAG Group have in the development pipeline?

We have one tower planned for Dubailand that will be situated in I&M Galadari’s City of Arabia. This will be the group’s fourth tower. For number five, we have a tower in Sharjah that will also be a residential tower called MAG 224. We also have one piece of development land at the Palm Jebel Ali on the crescent called MAG 222, which will be a building consisting of 17 floors.

How do you differentiate your company from the host of other developers that are all competing in the Dubai marketplace?

Our mission can really be summed up in just two words - commitment and quality. There are essentially two types of buyer in the market today: One of them wants to buy to invest, they will want to pay the minimum amount and so their first question will be ‘how much?’ The second kind of investor will want to look at the drawings, ask about the detailing, ask about the specifications - and these are our targets. We want to sell to people who know what they are buying, because this is how we can sell to them. It doesn’t matter what I show the first group of people; they will still remain focused solely on the price.

How do you deliver that in practice?

It is like buying a suit. When you buy a suit, you look at who the designer is. Buying an apartment is the same. But so many people that are buying apartments are not engineers. You can show them a plan that shows a 3.5 m x 3.0 m, and maybe it will mean nothing to them. But if it says 3.5 m x 3.0 m and it is a bedroom, it means that when you try to squeeze your double bed into the room you won’t be able to. That is why we don’t have any rooms that are smaller than 4 m x 4 m.

End

The second article like the first provides a glimpse into the philosophy of the MAG Group.

MAG Group to build tower in Dubailand

The property division at Dubai-based MAG Group has acquired a plot to develop a 45-storey residential tower in the City of Arabia zone at Dubailand.

Apart from the residential elements, City of Arabia - formerly known as Downtown Dubai - will encompass the Mall of Arabia, expected to be one of the world’s biggest, and a dinosaur-themed development.

At an estimated cost of Dh20 billion, Dubailand represents one of the most ambitious real estate projects in town, with multiple elements from theme parks to residential and hotel facilities.

“We are waiting for the masterplan of City of Arabia to be ready before we confirm our construction schedule for the residential tower,” said Mohammad Nimer, director at the property development department at MAG Group. “The 45-storey tower will feature about 450 apartments and, I believe, we should be ready to move by April or May.”

Meanwhile, MAG Group will shortly launch a 55-storey development at Dubai Marina. Featuring 534 units, the promoters expect an average sale price of Dh800 a square foot for the MAG 218 tower. Completion is set for the third quarter of 2007.

Another 40-storey development - MAG 214 - is under construction at Jumeirah Lake Towers. More than 75 per cent of the 312 apartments in it have been sold, with the average price pegged at Dh700 a square foot. It will be ready for occupation in the first quarter of 2007.

“In a market with multiple developers, we realise fully well that one has to be distinctive to connect with the buyer,” Nimer said.

“Apart from following all the contractual agreements with Nakheel, which is the promoter of Jumeirah Lake Towers, it is our mission statement to promise anything that cannot be delivered.

This is the best way to remain above the clutter of noises being made now about property development.

“MAG Group is only utilising class-A contractors in all of our projects.”
While the real estate division is about four years old, MAG (Moafaq Al Gaddah) Group has been active in the UAE since 1978.

It initially made its mark in the spare-parts industry before venturing into other sectors. It has 18 offices in eight countries, covering Europe, the Middle East and Africa.

On the property side, it will be launching a 55-storey tower, featuring 550 units, in Sharjah during the second half of 2005. The location is in the vicinity of Khan Lake.

End

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Transemirates to build MAG Tower

Published: 20/5/2005, 07:08 (UAE) By Saifur Rahman, Staff Reporter

Dubai :
Dubai-based property developers Moafaq Al Gaddah (MAG) Group PDD has awarded the main contract to build its MAG 214 Tower to Transemirates Contracting, a Dubai-based construction company.

"This is one of our contracts as far as the construction of freehold properties is concerned," Mohammad Nimer, director of the group, told Gulf News yesterday.

The building will be part of the Jumeirah Lake Towers complex, developed by Nakheel, a Dubai-based property developer.

Seventy-eight towers are being built at the complex in Dubai.

The Group did not disclose the value of the contract, but the project is expected to cost more than Dh200 million.

MAG Group has lined up seven new projects, including residential buildings, commercial towers and logistics facilities.

In March, it started offering units of MAG 218 Tower, a 66-floor freehold residential building at Dubai Marina. The tower is valued at more than Dh350 million.

Dar Al Handasah, who designed the project, has been appointed the designer and supervisor to oversee the smooth construction of the project.

Asteco has been appointed the sales and marketing agent of the project, while Amlak will support buyers with mortgage finance.

"We are also closely working with Dar Al Handasah on MAG 218 Tower. Currently, they are finalising the detailed design, which will go on tendering in August. It could be an open tender," Nimer said.

"Construction will take about two and a half years to complete," he added.

MAG Group is also rolling out two towers at the Dubai International Financial Centre, MAG 224 tower near Khan lake in Sharjah, an office building in Naif-Mussallah area in downtown Dubai, MAG 222 in The Palm, Jebel Ali, and MAG 220 in Dubailand's City of Arabia.

The two towers at the Dubai International Financial Centre will be worth more than Dh400 million.

"The overall value of our development would be in excess of Dh1.5 billion," Nimer said.
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Asteco is set to present model for MAG218 - UAE

Khaleej Times - 30/04/2005

DUBAI — Asteco, real estate and property management company will present a model for the MAG218 project, the 55-storey tower with 550-apartments to be built within the Dubai Marina on April 30 and May 1 at its head office in Capricorn Tower, Shaikh Zayed Road.


The potential buyers of apartments at the MAG218 project are invited for a viewing of what the new tower will look like. MAG218 will have one and two-bedroom apartments, swimming pool , a fully-equipped gym and a community area.

Asteco consultants will be available to introduce the new project, which takes its name from the 27-year-old Moafaq Gaddah Group (MAG) and buyers can visit from 10 am to 8 pm on both days. MAG Group of Companies is a multinational trading company with 18 offices in eight countries in Europe, the Middle East and Asia. Elaine Jones, managing director, Asteco, said: "MAG 218 is designed for those looking for contemporary style, functionality and a convenient home base within walking distance of business hubs such as the Internet and Media Cities, and Dubai Knowledge Village. We have already seen an encouraging response to the project thanks to its competitive prices, and there are attractive finance options from AMLAK.'' MAG218 will be completed by the first quarter of 2008, and the consultancy Dar Al Handash is already working on the building's design plans. MAG Group's, MAG214 in Jumeirah Lake Towers, Dubai, is the group's first tower project.

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MAG Group unveils new project at Dubai Marina

Dar Al Handasah, who designed the project, has been appointed project management consultant. Asteco has been named sales and marketing agents and Amlak will support the buyers with mortgage finance.
Mohammad Nimer, director of MAG Group's property development department, told Gulf News that construction will begin in July.

"We expect to choose the main contractor by July after a tendering process. The project is scheduled for completion in 32 months," he said.

About 55 floors of the 66-storey MAG 218 Tower comprise 1- and 2-bedroom apartments. The project has seven floors for parking, three technical floors and a community area and a health club floor.

There is also a swimming pool and jacuzzi on the podium roof.

With this project, the number of properties currently being developed by MAG Group would be 12. They include the MAG 214 Tower in the Jumeirah Lake Towers and two towers at the Dubai International Financial Centre, MAG 224 tower in the Al Khan area in Sharjah, one building in Al Barsha, one office building in Naif-Mussallah area in downtown Dubai, MAG 222 in the Palm Jebel Ali, MAG 220 in Dubailand and the latest MAG 218 at Dubai Marina.

Among these the two towers at the DIFC will be worth more than Dh400 million. The upcoming property at Dubailand willd cost the company Dh200 million, Nimer said.

"Total value of all these projects could be between Dh1.5 billion and Dh2 billion," he said.

Meanwhile the company will choose a main contractor for the MAG 214 tower, currently under development.

"We have received an excellent response from the market for our projects. MAG 214 is almost 85 per cent sold out. We hope to conclude sales soon.

"We will choose a main contractor for the project in a week's time. Tender evaluation is in its final phase. The project is scheduled for handover by 2007," Nimer said.

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Asteco invites buyers to view new tower project

Author: Property World Middle East Saturday, April 30, 2005

Open days to be held on April 30 and May 1

Potential buyers of apartments at the MAG 218 project within the Dubai Marina community are invited for a viewing of what the new tower will look like

Real estate and property management specialist Asteco will present a model for the 550-apartment, 55-storey tower on two open days - April 30 and May 1 – at its headoffice in Capricorn Tower, 6th floor, Sheikh Zayed Road, Dubai.

MAG 218 will have one and two-bedroom apartments, an outdoor swimming pool with surrounding wooden deck, a fully-equipped gym and a community area.

Buyers can visit from 10:00am to 8:00pm on both days, and Asteco consultants will be available to introduce the new project, which takes its name from the 27-year-old Moafaq Gaddah Group (MAG). No appointments are required.

“The model will provide prospective MAG 218 homeowners with the most comprehensive understanding of the fittings, finishes and unique facilities,” said Elaine Jones, Managing Director, Asteco. “MAG 218 is designed for those looking for contemporary style, functionality and a convenient home base within walking distance of business hubs such as the Internet and Media Cities, and Dubai Knowledge Village.”

“We have already seen an encouraging response to the project thanks to its competitive prices, and there are attractive finance options from AMLAK.”

MAG 218 will be finished by the first quarter of 2008, and the consultancy Dar Al Handash is already working on the building’s design plans.

MAG Group’s Property Development Department is increasingly active, with twin towers planned for DIFC, and other properties on the drawing board for Dubai and Sharjah. MAG 214 in Jumeirah Lake Towers, Dubai, is the group’s first tower project and is 95 per cent sold since launching last summer.

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MAG Property Development Department launch their latest project, MAG 218 Tower in Dubai Marina

Wednesday March 16, 2005
source: ameinfobuilding

MAG Property Development Department which is a part of MAG Group of Companies held a dinner party at Burj Al Arab to launch their latest project: MAG 218 Tower in Dubai Marina.

Mohammed Nimer, Director, MAG Group PDD said "MAG 218 can be best described as functional in all aspects. Its buzzing location, which is walking distance from neighboring Internet and Media cities and major upcoming shopping centers in the area. In addition, it is just minutes away from the most serene waterfront in the area, the Dubai Marina. Functionality includes its design and finishing material as well, where MAG 218 is composed of 66 floors, 55 of which are 1 & 2 bedroom-apartments, while other 11 floors include parking, technical floors and one community floor.No doubt that perfection in performance requires the right partners who are experts in their relevant fields. That's why we've chosen Dar-Al-Handasah as our consultant, Asteco as our sales & marketing agent, Amlak as our financier.
A 66-storey residential Tower, 55 of which are comprised of 1 and 2-bedroom apartments, houses 7 floors for parking, 3 technical floors and a Community Area and Health Club Floor. There is a swimming pool and Jacuzzi on the Podium Roof.

The Tower is conveniently located minutes away from the most serene waterfront in the area - the Dubai Marina. It is also within a short distance of the most attractive shopping facilities, and other amenities such as Internet and Media Cities.

All the flats are spaciously designed with first-class finishings and fully equipped European standard kitchens.

The event was attended by high-profile businessmen specialized in the real estate business.

The Consultants for this project are Dar Al Handasah and the Sales & Marketing agent is Asteco. Payment facilities to buyers are offered by Amlak.

MAG 218 is the second of 12 projects in progress by MAG PDD who has developed a structured formula that combines design distinction with real estate basic principles based on quality and commitment in execution.

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