MAG plans Dhs15bn investments in UAE

March 1, 2014 1:39 pm

Dubai-based conglomerate, MAG Group has announced plans to invest up to Dhs15bn in the future of Dubai and the wider UAE, Gulf Today has reported. MAG Group has already announced and has projects under implementation, worth Dhs5bn, including the Dhs2bn multi-phase project, located in the Meydan district, comprising 106 townhouses and a residential community spread across 29 five-storey apartment buildings, a Dhs750m residential project in Sharjah, Dhs700m Art Centre in Barsha, Dhs865m City of Arabia residential project, Dhs500m MAG residential tower in the Burj Khalifah area, Dhs100m MAG Logistics plant in Jebel Ali and Dhs180m MAG 226 residential tower in Jumeirah Village. “Now that the city has won the right to host Expo 2020 it has galvanised investment sentiment and I am sure that we are not the only company feeling the current wave of overwhelming business optimism,” said MAG Group chairman, Moafaq Al Gaddah.