“Mag Holding” reveals an integrated city in Dubai

The founder and chairman of the Mag Holding Group, Muwaffaq Al -Qaddah, revealed a new real estate project in Dubai, which will serve as an integrated city that extends over an area of ​​18 million square feet, near the Dubai Silcon Oasis, indicating that the project will include residential buildings, villas and “Town House”, as well as many service facilities.

Al -Qaddah added to «Emirates Today» that the value of the project sales ranged between 40 and 50 billion dirhams, pointing out that it will be officially announced during the next three months.

He stressed that the real estate scene in Dubai is accelerated, as the emirate continues to establish its position as one of the most prominent global markets supported by a large demand from all over the world.

The largest project

In detail, the founder and chairman of the Mag Holding Group, Mowaffaq Al -Qaddah, said that “the group offers a number of projects every year, but during the coming period, we will announce a huge and large project in Dubai, as an integrated city that extends over an area of ​​18 million square feet, near the Dubai Silicon Oasis and the Academic City.”

Al -Qaddah explained to «Emirates Today» that the project will include residential buildings and villas, in addition to “Town House”, as well as a school, commercial center and other service facilities, pointing out that the value of the project sales that will be officially disclosed during the next three months ranged between 40 and 50 billion dirhams.

He added that «the group obtained the necessary government approvals for the project, which is in the final planning phase of the official launch», noting that the project will be the largest of the group at all within and outside the UAE.

Accelerated growth

Al -Qaddah pointed out that the real estate scene in Dubai is witnessing an accelerated growth, as the emirate continues to establish its position as one of the most prominent global real estate markets, and even redefines the concept of the city that attracts business, life and stability.

He indicated that the real success of Dubai lies in being a city that brings together separate elements in one place: security, safety, luxury, advanced infrastructure and comprehensive services, pointing out that many major cities around the world do not have this integrated mix that makes Dubai a preferred option not only for the investor, but also to live and work as well.

He said: “The property in Dubai has become the talk of the hour inside and outside the country, as it is dynamically moves at a rapid pace, supported by a large request from all over the world.”

Al -Qaddah explained that «what distinguishes the Dubai Real Estate Market is the diversity of demand, because the demand is not limited to the wealthy only, but also includes the middle class and what is below it. Everyone sees in Dubai a place for a high standard of living, each according to its capabilities and capabilities.

The perfect environment

Al -Qaddah emphasized that Dubai provides an ideal environment for business, which allows the investor to move with confidence and speed, as it takes a time when licensing procedures and projects launch in other cities take more than two years, the real estate developer in Dubai can accomplish this in four to six months only, which gives the market high flexibility and ability to respond to the demand.

He said: “In Dubai, we are not only talking about the sale of real estate, but about building a lifestyle.

Request for offices

Al -Qaddah pointed to a boom in demand for offices and commercial spaces, explaining that, according to statistics conducted by the group, the demand for offices and commercial spaces in Dubai has reached historical levels with the transfer of a large number of major international companies their headquarters to the emirate.

He said that many of these companies include more than 100 employees, which in turn moves many sectors such as: housing, education, health care, services, and others.

He added: «Dubai continues to compete with itself and at a quick pace to provide the latest services and facilities, and what we see today from the transfer of regional and wealthy companies and headquarters to Dubai, reflecting a new reality that the emirate entrenches globally, which confirms the strength of the demand for Dubai today and future.

Attractive factors

Al -Qaddah said: “Today we are witnessing a great demand for real estate for the final users who want to live in Dubai,” noting that the purchase for the purpose of investment is small, and even the investor who resides in Dubai when he buys looking for returns.

He explained that the advanced infrastructure, the speed of procedures, the quality of high life, safety and stability are all factors that put Dubai at the forefront of the cities of the world to attract population and investors.

He indicated that the projects in Dubai not only stop at residential property, but also include transportation, entertainment, tourism, infrastructure, smart services, and other integrated sectors, pointing out that this integration makes Dubai at the forefront of investment options globally.

Projects

Al -Qaddah stated that the “Mag Real Estate” group has so far surrendered between 30 and 40 projects, and it currently has more than 20 projects under construction that includes more than 5,000 housing units expected to enter the market in stages.

He said that the developers in Dubai are moving based on a clear market studies and a strategic vision, which enhances confidence in the real estate market and makes every new project find someone to buy it immediately, pointing out that Dubai is the fastest city in the world in terms of sales operations.

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Rival

The founder and chairman of the Mag Holding Group, Mowaffaq Al -Qaddah, said that despite the remarkable growth, the market value of the real estate in Dubai is still without its real level, compared to the major global cities, explaining that “Dubai has not yet reached 50 or 60% of the prices recorded in famous cities around the world, although the emirate provides services, well -being and unparalleled returns and much higher, compared to what other global cities offer.”

He added: “Even taxes (corporate tax) in Dubai are much lower than those imposed in competing international markets, which makes investing in them more economically attractive.”

He pointed out that the way Dubai deals with the “Corona” pandemic has strengthened its global position, whether through precautionary measures, the services provided, or the way the crisis is managed, which was reflected directly on the confidence of investors and individuals in the emirate, and increased the flow of money and business to it after the pandemic.

. 5,000 housing units are expected to enter the market in stages within 20 projects under construction for the “group”.

. The new project includes residential buildings, villas, “Town House” and many service facilities.