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.
Return to MAG 218 Community homepage.
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.
Return to MAG 218 Community homepage.
posted by B.D. at
Monday, June 20, 2005
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