MAG Developer Abandons Business Bay Project, Sells Plot for Dh365m
Dubai Luxury Developer Shifts Focus to Construct Keturah Tower Project in Downtown.
Dubai-based luxury developer MAG has successfully divested its Business Bay plot, generating a substantial Dh365 million from the transaction amid significant value gains across Dubai's prime locations. Originally planning a 'Keturah '-branded high-rise in Business Bay, MAG has redirected its focus to Downtown Dubai for a similar project under the same label.
The decision to sell the Business Bay land followed the strategic shift, with the company now gearing up for a new, uniquely luxurious Keturah project in Downtown Dubai, featuring a pioneering Bio Living concept. Talal Moafaq Al Gaddah, Senior Executive Vice-Chairman of MAG, highlighted the company's commitment to delivering elevated living experiences, with plans extending to a residential community development in Switzerland.
Binayah Editorial
Property Market Analyst
Our editorial team researches Dubai's real estate market, tracking DLD data, developer launches, and investment trends to keep buyers and investors informed.
Ready to Invest in Dubai?
Speak with our analysts about the best opportunities in today's market, free consultation.
