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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