MAG 5 PD launches new project in Dubai South
The company will be offering a payment plan that will reduce risk for customers through a 50% - 50% structure and flexible payment dates
MAG 5 Property Development (MAG 5 PD) has launched the third phase of its MAG 5 Boulevard community in response to increasing investor demand for studios, one and two bedroom apartments.
As the second project developed by MAG 5 PD, it will be the first of its kind to be launched within Dubai South.
The company will be offering a payment plan that will reduce risk for customers through a 50% - 50% structure and flexible payment dates, including a full year of zero payments before the completion of the project.
Unit prices start at $84,400 (AED310,000) for studios, $120,000 (AED410,000) for one bedroom units and $139,000 (AED510,000) for two bedroom apartments, as the development is targeted towards those earning between $4,000 - $8,000 (AED15,000-30,000) a month.
The project will be developed in phases, with phase 1 and 2 due for completion in Q4 2018 and the recent MAG 5 (phase 3) to be handed over by Q2 2019.
Talal Moafaq Al Gaddah, CEO of MAG 5 PD, said: “We have witnessed huge demand at MAG 5 Boulevard since its launch, with Phase 1 and 2 being outstandingly popular thanks to the project’s state-of-the-art design, fair pricing, high quality and strategic location in Dubai South, which situates the community at the heart of one of Dubai’s most exciting urban developments.
“The project’s convenient payment plan and the 12% expected yield for investors are also major factors driving demand and attracting a more experienced buyer to MAG 5 Boulevard.”
The MAG 5 project falls within the fully-gated $218m MAG 5 Boulevard residential community and will see the addition of 270 units to the community’s existing 13 buildings, resulting in a total of 1,442 residential units.